We’d like to introduce to you a Leprechaun robot.
The EA was designed by Aleksei Zaitsev and released on MQL5 on September 1, 2020. The current version is 3.6 from September 23, 2020.
How Leprechaun EA Works
Let’s talk about its features:
- It trades Grid strategy.
- The EA can trade during high-volatility periods.
- The EA can’t trade well during a flat market successfully.
- It works perfectly during high-impact news and an American trading session.
- The robot doesn’t use indicators to perform.
- It focuses on where the price moves and opens deals in this direction.
- It can be used on trading any symbol.
- The main currency pair to work with is Gold.
- The robot works on the Trend time frame – H1.
- The minimum deposit should be $100 for a 0.01 Lot Size.
- The robot works with any spreads (probably, not higher than 20 pips).
- We can trade on any broker.
The robot trades a Grid strategy in the trend. When the trend changes, the EA “reverses the balance of trading positions in the trend direction and closes the whole grid of orders is a plus.” It opens a grid of orders at the start of the American session and closes then within a day. The robot, in addition to Grid, uses a Martingale strategy.
Here, we’ve got an MT4-drawn visual backtest. The chart looks insane. The robot traded Gold for three months on the M5 (why not H1?) time frame. The spreads were high (50 pips). The initial deposit was $10k. The total net profit amounted to +$5.7k. The Profit Factor was impossibly low (1.05). The robot traded 388 deals. The maximum drawdown was insane (49.65%). The win-rate for Shorts was (38.55%). It was an epic fail. Longs’ one was 81.34%.
Leprechaun Trading Results
The owner has removed his account from listing at myfxbook.
There’s another account. It’s a $15000 real USD account on WELTRADE. The EA works automatically with 1:500 leverage on MetaTrader 4. Track Record is Verified. The account was created over a month ago, on October 12, 2020. Since then, the absolute gain has become +102.66%. The monthly gain is +62.65%. The maximum drawdown was 25.59%.
The robot closed 663 deals with 17561 pips. An average win (929.76 pips) is twice less than an average loss -$1895 pips. The win-rate is 69% for Longs and 66% for Shorts. An average trade length is over nineteen hours. The Profit Factor is 1.46.
As we can see, Longs’ direction is consistently unprofitable. The Shorts’ one provided all profits (+$21678.84).
The EA trades little during the American session.
It focuses on trading at the beginning of the week: Monday, Tuesday, and Wednesday.
The robot trades with quite high risks. To lose 10% of the account, the EA has to lose 14 deals in a row. The Grid can help with this easily.
The EA has opened many Martingale trades with increased Lot Size, and they went to lose.
It looks like the EA performs Martingale randomly.
November will be able to have a huge correction of profitability.
Pricing & Refund
The robot costs $49 for a copy. The rent pricing is $20 for a month. There’s a free demo download, so people can check settings in MT4. There’s no refund policy at all.
There are many Russian comments about how the EA works.
There are comments like this. This person said just exactly what we’ve seen on trading results where there are many open martingale orders.
This person has noticed that the EA increased drawdowns and didn’t provide proper profitability.