Naragot Portfolio trades on the trend and uses a fixed stop loss, and take profit on each trade. The robot uses price action techniques to scan the markets and employs them on four pairs: EURUSD, XAUUSD, GBPUSD, and USDJPY. The developer makes many claims on the website about the performance of the EA and states that he is a genuine trader himself. Let us observe all the pros and cons of the algorithm and see if it can work for us.
How Naragot Portfolio works
The EA require the following steps to work properly:
- Purchase it from the MQL 5 marketplace.
- Download it on the MT 4/5 platform.
- Attach it to the charts to start trading.
Vendor transparency
Alexander Mordashov is the author of the product who resides in Russia. He has a total rating of 4.6 for 24 reviews. The developer has nine products published on the MQL 5 marketplace and has one subscriber for his services. He has no trading experience, according to the MQL 5.
Features
The EA has the following features:
- It uses a fixed stop loss for trading.
- It does not use martingale and grid strategies.
- It only trades in the direction of the trend on four currency pairs.
- It has risk management settings that traders can tweak.
- It works on four currency pairs.
Applied strategies
The developer states that the robot trades on the trend on four different currency pairs. It has a fixed stop loss and take profit for each trade. It uses price action based on the principle of volatility break out and support and resistance levels. The average trade duration of the EA is 10 hours and 19 minutes which means that it employs a day trading approach on trades. The developer hides the trading history on Myfxbook, which is suspicious.
Backtesting results are available for multiple currency pairs from 2000-2021. The developer presents backtesting results by showing images without a detailed statement. For the duration, the robot had a maximum drawdown of 15.87% and turned an initial deposit of $10000 into $184551.06. It had a winning rate of 55.44% with a profit factor of 2.15. The average amount of profitable trades was $84.51, while the average amount of losing deals was -$48.93. There were a total of 7366 trades executed during this period.
Naragot Portfolio trading results
Verified trading records are available on Myfxbook that show performance from March 25, 2018, till the current date. The system made an average monthly gain of 1.51% during the period, with a drawdown of 38.20%. The stated drawdown is super high and gives a poor risk reward ratio for using the algorithm. It means that the robot loses nearly half of the capital while trading.
The winning rate stood at 39%, with a profit factor of 1.11. The best trade was $267.62, while the worst was -$178.60. There were a total of 6000 trades.
Pricing & refund
The robot can be purchased for $449, but there is no money-back guarantee provided.
Other notes
There are multiple customer reviews present on MQL 5 marketplace. Traders say that the algorithm is causing a high drawdown on their account and gives the worst performance amongst many other EAs. They are suffering great losses by using the robot.
