Forex Trend Detector is one of the automated trading tools designed to minimize trading risks and increase chances of successful trades. The developers of this expert advisor claim that their goal was to create software, which would be able to turn unprofitable trading sessions into profitable ones.
In this Forex Trend Detector review, we will discuss this trading software, analyze its trading performance, and decide whether it is a good choice for traders.
How Forex Trend Detector Robot Works
The devs provide a long list of features on their sales page. They convince us that their automated trading software follows Smart Money like no other EA available in the Forex marketplace. The vendors also point out the following features of this Forex robot:
The first thing traders need to do after a purchase is to set up the software on their computer. Then, they have to adjust the system according to their liking and start trading with Forex Trend Detector.
Applied Strategies
The FX Autotrader team has implemented the Smart Money strategy into Forex Trend Detector. They have also included drawdown control to minimize losses while trading. The FX Automater team believes that their volatility trading strategy combined with the drawdown algorithm results in the most efficient trading tool ever. Their claims look very aggressive and convincing. However, is the software as good as advertised? Let us find out the answer in the “Forex Trend Detector Trading Results” section.
Forex Trend Detector Trading Results
The FX Automater team provides us with 1 myfxbook account on their sales page.
It is a Demo USD account, which is working on the MT4 platform and placing trades with Alpari RU brokerage with a 1:500 leverage. The account was launched on May 19, 2020. For approximately 5 months of trading, the account has obtained a very low total gain that equals 4.39% with a monthly gain of 0.87% and a maximum drawdown of 17.68%. We’d like to say it’s a kind of disaster. In comparison with the small monthly gain and a high drawdown, chances to recover are very small. The initial deposit was $2000. This EA brings money, but earnings are too small. For the whole period of trading, the robot has brought only $87.82 of profit.
This trading tool has placed 111 trades and won 56% out of them. It has traded 120.8 pips with an average win of 32.06 pips and a higher average loss of -38.10 pips. Its profit factor is small – 1.07. The average trade length is 16 hours and 5 minutes.
In addition to small gains, the EA has a high risk of ruin and there is a 61, 84% chance of losing 10% of the account.
It is caused by a high drawdown performance which is constantly over 6%.
It is very dangerous because one day you can wake up and see that you have lost not only earned but also deposited funds.
Pricing & Refund
Forex Trend Detector’s regular price is $297. However, the developers offer a $130 discount, and now interested in the software traders may buy this EA for $167.
The company adds that in case you find that the EA is not up to your standards, or you are not satisfied with the type of gains you hoped for, you can easily ask for a full money refund within 60 days from the day of the purchase.
