Stenvall Mark lll is available on the MQL 5 marketplace and does not use grid and martingale strategies. According to the developer, the robot uses a complex wave analysis and trades on full auto mode with or without money management. In our article, we will go through different points of the trading system and discuss if traders should use it on their accounts.
How Stenvall Mark lll works
The EA requires the following steps to work properly:
- Purchase it from the MQL 5 marketplace and download it on your MT4 or MT5 platform
- Refresh the experts’ tab, and the robot will show up
- Press on the auto trading button
- Place the system on the charts to start trading
Gennady Sergienko is the author of the product who resides in Russia. He has 7 products published on the MQL 5 marketplace and has 81 subscribers for his services. He has more than five years of trading experience, according to the website. There are no portfolios or certificates that could verify this.
The EA has the following features:
- It does not use dangerous gird and martingale strategies.
- The robot works in full auto mode on EURUSD.
- Money management settings are available within the settings.
- The algorithm is available for both MT 4 and MT5.
The developer states that the robot trades on EURUSD at the M5 chart. There is no implementation of averaging or lot multiplication and the trading is done 24/5 with the accuracy of 70%. From the history on Myfxbook we can see that the author Is lying about the strategy. The robot is using grid strategy as multiple trades are closed at the same interval. The lot size is hidden to confuse beginners.
The developer does not provide us with complete backtesting records. This, again, is not a good practice. There is only an image that shows custom statistics which can be handwritten by the author. According to the picture, the robot has a profit of 850% for a total duration of 6.5 years and a drawdown of 11%. The maximum deposit load was 6% with leverage of 1:100.
Stenvall Mark lll trading results
On the live records, we have had the robot trading since April 21, 2019. The system made an average monthly gain of 3.39%, with a drawdown of 23.8%. The stated drawdown value gives us a poor risk-reward of 8:1.
The winning rate stood at 65%, with a profit factor of 1.65. The best trade was $2490 while the worst was -$1312. There were a total of 528 trades.
Pricing & refund
The robot can be purchased for $980, and there is no money-back guarantee. Traders can also rent it for one year at $399. Traders can download the product immediately after purchase.
There are 20 reviews available at the MQL 5 marketplace, which gives the system a rating of 2.2 for a total of 20 reviews. One of the traders states that he has been using the product for 2.5 months and has had only big losses so far. The author is not providing any communication.
Another customer states that he has lost hundreds of dollars while using the robot for trading.