Silent Master is one of the many EAs that are being sold on the mql5 website. It was published on this site just last month and its current version is 1.4. The vendor does not hint at the profits or the levels of drawdown to expect. In this review, we evaluate the different aspects of the robot to give you a detailed picture of how the robot works and performs.
How Silent Master EA works
Silent Master is a fully automated expert advisor meaning that it executes trades on your behalf. The following features have been incorporated:
- The recommended trading symbol is EURUSD
- Runs on the MT5 terminal
- Uses the 5 minute time frame
- The minimum deposit is $100
- No martingale, grid, or arbitrage are used
- Any broker with small spreads and fast order execution is recommended
- StopLoss and DD parameters are used to protect trade positions
Evgeniy Machok is the person behind this robot. He is from Russia and has 7+ years of experience in the trading market. He has developed 11 other trading systems in his collection. Some of them include Yellow, SZ Scalper Free, MIB Pro, Turn Indi, etc. No other information about the developer is provided. This greatly disadvantages us as it is hard to ascertain his credibility and proficiency in Forex.
Applied strategies
The robot trades during the night when market volatility is low. As per vendor claims, the robot incorporates machine learning that enables it to take into account the current market situation. However, there are no details regarding the factors it specifically focuses on and the formula it applies. Consequently, we have no other option but to doubt its effectiveness.
The vendor has provided backtest results.
The account was backtested between 2018 and 2021 using the EURUSD currency pair. The total trades were 865 and the win rates for short trades were 91.25% and 94.52% for long ones.
The loss trade (-$238.56) was more than 2 times higher than the average profit trade ($92.55). In short, the system had a high likelihood of incurring losses. The relative drawdown (23.86%) was quite high and threatened to diminish the capital. The initial deposit was $100, and out of it, a total net profit of $63,499.11. The profit factor of 6.32 was high.
Silent Master trading results
This is a real USD account that operates on IC Markets using the leverage of 1:500. It was deployed in July 2020. The gain and absolute gain are 19.95% and 33.06% respectively. The EA has been making daily profit rates of 0.04% daily and 1.33% monthly.
Accumulatively, the profit made is $91.11. The balance has increased to $366.66 in 13 months. The drawdown (37.76%) is somewhat big. It signifies a trend where losses are the order of the day.
The number of deals made currently stands at 266. The system trades with big lots (68.80) and this increases the account’s susceptibility to losses. The profit factor of 1.10 is not that appealing. The longs won are 75% and the shorts are 100%. The EA has made 279.4 pips. The average loss (-3.44 pips) is slightly higher than the average win (2.36 pips). Again, we see that more trades end up in losses.
The account’s risk of ruin is relatively high. A losing streak of 24 trades in a row is enough to blow up the whole account.
There were only three profitable months-January, April and June. The other months were characterized by significant losses.
Large lot sizes were used. It is also evident that the system traded in the wee hours of the morning, especially at 12 am. It did not apply stop losses despite the vendor assuring traders that such measures are applied to minimize risks.
Pricing & refund
Silent Master is available on the mql5 website for $99. According to the vendor, only 2 copies sold at $99 are left. The next price will be $149. We cannot tell if this statement is true or it’s just a strategy to attract buyers.
A money-back guarantee is unavailable. This is the main reason why we are convinced that this EA is not worth your money. There is no need to invest in a product whose vendor is not willing to return your cash in case you are unsatisfied with its performance.
Other notes
There is only 1 customer review on mql5. This is peculiar since the robot went live more than a year ago. Perhaps traders have realized that this product is not for them.
