Bobber Lannister trades on multiple currency pairs and is available on the MQL 5 marketplace for $499. The algorithm requires minimum leverage of 1:30 and can be set to run on a custom time within the settings. To see if it can prove profitable for the general community, we will analyze its key features, trading strategy, profitability, and drawdown.
Vendor transparency
Arnold Bobrinskii is the author of the product who resided in Russia. He has a total rating of 4.4 for 37 reviews. The developer has 4 products published on the MQL 5 marketplace and has a total of 14 subscribers for his services. He has a trading experience of over 8 years. However, we cannot verify this as there are no certificates or live records that could prove the said statement.
Bobber Lannister works
The robot comes with the following main features:
- It has built-in risk management settings.
- Traders can choose to trade between limit and market orders.
- The algorithm can pause trading before the weekend.
- It comes with user-friendly settings.
To install the EA, use the following steps:
- Traders will have to purchase the robot from the MQL 5 website
- Download the EA and refresh the experts’ tab
- Attach it to the charts to start trading
Timeframe, currency pairs, deposit
The robot trades on EURCHF, GBPUSD, EURNZD, CHFJPY, EURAUD, etc., and requires a minimum deposit of $100. There is no information present about the time frame traders can use it.
Trading approach
The developer states that the robot does not use martingale or other dangerous strategies and uses a virtual stop loss and take profit for trades.
From the live records on MQL 5 marketplace, we can observe that the robot is a night scalper trading mostly towards the end of the New York session. It can close trades when they reach a total profit of 5-20 pips.
Pricing and refund
This robot comes with a monthly membership of $499, and there is no money-back guarantee. Before purchasing, traders can also test it on a demo account.
Trading results
The developer shares the backtesting records in the form of an image where we can see that the relative drawdown was around 22.23%. With a history quality of 94%, the robot placed a total of 4953 trades and had a winning rate of 65.29%. The total net profit at the end was $1916908.01 for an initial deposit of $10000. The largest profitable trade was $33955.87, while the loss stood at -$63905.37.
Live records are available on MQL 5 marketplace from March 04, 2021, till the current date. It can be seen that the system makes a monthly gain of around 8% with a drawdown value of 37.8%.
The balance stands at 456.69 USD, with a profit valued at -256.69 USD. A deposit of 195200613.88 USD was made initially.
Further analysis reveals that the EA participated in 3527 trades, out of which 65.18% were profitable. The system trades with an average trading length of 7 hours, and the profit factor is 1.39.
People say that Bobber Lannister is…
Average. Fourteen customer reviews present on the MQL 5 marketplace give the product a total rating of 4.54.
A trader states that the algorithm is fast and easy to use and the winning trades are enough to outweigh the losses.
One customer claims that the robot has huge losses once the market is trending in one direction.
Verdict
Advantages
- Multiple configurable settings
- Positive customer reviews on MQL5
Disadvantages
- No detailed backtesting statement
- Requires a high leverage
- It is expensive
Bobber Lannister Conclusion
Bobber Lannister has a high drawdown on the live records showing us that it nearly wipes 50% of the account equity. There is no detailed statement present for the backtesting records, and the information on its strategy is low.
