Gratified Long Term Trader is a multi-currency Forex robot that was launched on mql5 almost a month ago. The EA is not sensitive to spreads and is compatible with most Forex brokers. In most cases, it opens 10 or more trades concurrently.
How Gratified Long Term Trader works
We have highlighted the few features of the robot below:
- It trades these 14 symbols from a single EURUSD H1 chart; AUDCAD, AUDJPY, AUDNZD, AUDUSD, EURCHF, EURNZD, EURUSD, GBPAUD, GBPCAD, GBPNZD, GBPUSD, NZDCAD, NZDUSD, and USDCAD.
- The EA runs on both the MT4 and MT5 trading terminals.
- It attaches stop losses and take profits to orders.
- The robot can only be backtested on the MT5 platform because MT5 is the only one that supports multi currency backtesting abilities.
A US-based developer called Scott Fredeman is responsible for creating this EA. Scott has been in this market for 4 years, and his portfolio includes 8 products, 8 signals, and 5 subscribers. So far, traders have downloaded the demo versions of his systems 1564 times. Aggressive Grid Sniper, Blazing Night Scalper, EA Monster Multiple Strategies, and Midnight Blitz are the other products Scott is selling on MQL5.
Applied strategies
As mentioned earlier, this system works on 14 different currency pairs. So, its trading method entails monitoring daily price movements along these pairs so as to profit from them. Notably, some symbols follow the trend while others counter the trend. Different moving averages are often utilized to ascertain the entry point of each pair.
From the test results above, it is evident that the robot attained a total net profit of $65843.02 after engaging in 6335 trades. The win rates for both the short (54.79%) and long trades (53.44%) were rather disappointing. The profit factor of 1.20 also tells us that the robot had a difficult time identifying profitable trades. Luckily, trading risks were low as the recorded maximum drawdown was 10.84%.
Gratified Long Term Trader trading results
This account was deployed in December 2021 and is currently being hosted by the Oanda brokerage. The EA is working with a deposit of $1000 to produce 0.57% daily profits and 18.65% monthly profits. So far, we have a cumulative income of $214.87 and a total gain of 39.92%. The available balance is $708.96, while the drawdown is 6.69%. Obviously, a low-risk strategy is at play.
The system has conducted 88 trades and made 3044.8 pips. Most of the short positions have not been successful as they have only recorded a win rate of 45%. The performance of long positions (75%) is a lot better. There’s a profit factor of 2.05 and an average trade length of 6 days. The average win is 106.12 pips, whereas the average loss is -78.99 pips.
The EA generated 25.22% profits in January.
The EA works with different currency pairs and attaches SL and TP levels to some orders. It can hold trades for several days. Some wins and losses are reported.
Pricing & refund
The EA is currently retailing at $299. The vendor does not include other pricing options but says he’s going to increase the EA’s price to $499 in the future. So, you are advised to buy now and save more. A money-back guarantee is not featured.
Other notes
Traders are pleased with this robot, going by the 5-star rating they have given it on mql5. They describe Gratified Long Term Trader as one of the best EAs on MQL5 that has the best settings and generates stable profits.
