We’d like to read a review of a Forex Truck robot. This is another robot that was introduced under the no-name label – powered by Forex Store. All these “powered” EAs have short but quite informative presentations.
How Forex Truck Works
The presentation looks semi-professional. We can easily find backtests and myfxbook widget with verified trading results, but, as usual, there are poor trading strategies explanations and no settings explanations provided at all. As for a “powered” EA, the presentation could be several-pages longer and more informative.
Let’s talk about how Forex Truck works based on available intel:
- The robot trades automatically.
- It works with only the USD/CAD currency pair.
- It’s broker-free software.
- It was designed for both: MT4 and MT5 platforms.
- Using inbuilt indicators, the robot calculates Entry Point for each deal automatically.
- The system manages to calculate Lot Sizes for each deal.
- There’s a conservative Hedge/Grid of orders if the market allows making more profits.
- If the market foes in the wrong direction, the robot tries to close deals asap.
- It can use Martingale to come back after a loss.
- We don’t know the beneficiaries of this service. They may be Forex Store site owners.
The system runs on conservative Grid and Hedge with Martingale strategies to recover after losses.
There are two backtests: aggressive and conservative. This is conservative. It was performed on the H1 time frame based on six years and almost eight months of data. The modeling quality was 90.00%, and spreads were ECN-ones (3 pips). An initial deposit of $5000 has become $75759 of the total net profit. The Profit Factor was 1.75. The maximum drawdown was 23.42%. The robot closed 1609 trades with a mediocre win-rate: 54% for Shorts and 67% for Longs.
Forex Truck Trading Results
The robot runs a real USD account on FXOpen automatically by using technical indicators on the MetaTrader 4 platform. Most-likely it uses 1:400 – 1:500 leverage. This account has a verified track record. It was created on January 16, 2020, funded at $2000. Since then, the absolute gain has become +304.35%. An average monthly gain is 12.43%. The maximum drawdown is 23.08%.
It closed 231 deals with 1782 pips. An average win is 46.11 pips when an average loss is -48.24 pips. The win-rate is 60% for Longs and 58% for Shorts. An average trade length is two days. The Profit Factor is 2.21.
The robot trades both directions equally by the number of trades. The SELL one provided more than BUY – $3120.16 of the profits.
The robot works mostly during European trading hours.
Wednesday (40) and Friday (38 deals) are the less-traded days.
Forex Truck works with the medium risk to the account balance.
As we can see, the system calculates Martingale Lot Size automatically to close a Grid of orders with a profit.
2020 was closed with all months with profits.
Pricing & Refund
The package costs $277. It includes one license for any type of accounts, unlimited possibilities to change it, two robots for MT4 and MT5, a user guide, and welcome 24/7 support. The offer is featured by a 30-day money-back guarantee.
There are no people testimonials on the web. Anyway, the robot has an R (the best) rate on Forex Store. So, there should be no complaints.