The Comeback Kid EA is a Forex expert advisor that also functions as a trade manager. It is a 100% automated system that, according to the vendor, generates an average monthly profit of 5-10%. The vendor also claims that it has a profit potential of 60% in 12 months. These are bold claims, but we need to verify them independently.
How The Comeback Kid EA works
In the beginning, the vendor provides an introduction to the robot, mentioning all the benefits it offers and why the trader should invest in it. We have the link to a live trading account and a video explaining the trading strategy. Next, we have the pricing details and the risk disclosure statement. The presentation is too brief and we feel like the vendor has skipped some of the vital details.
This is a product from American trader Ryan Brown who has a trading experience of 16 years. There is no information available on any other team members, so we can assume this person is working alone. Other robots developed by this person include Ranger EA, Vigorous EA, and Pinpoint EA.
Although this is a fully automated system, the vendor recommends manually intervening from time to time to ensure optimal performance. The EA uses trailing stops as a risk management measure and trades in pairs like AUD/CAD, AUD/USD, CAD/JPY, EUR/CAD, EUR/GBP, EUR/JPY, EUR/USD, GBP/AUD, GBP/JPY, GBP/USD, USD/CAD, USD/CHF, USD/JPY, and gold.
According to the vendor, you should scan the price charts 5-10 minutes daily to identify profitable entries. Based on your preference, it can close each trade or a trade group in profit or loss. It has three different money-management modes, namely flex-grid, multi-order, and single order. You can run the robot on the MT4 and MT5 trading platforms.
You need a high initial investment of $3000 to get started with this system. Many traders, especially beginners, would not find this suitable. The vendor recommends trading with leverage of 100:1.
This robot uses a combination of grid and averaging strategies that focuses on key support and resistance zones. It takes grid positions only when the market conditions are ideal. Most Forex traders consider these strategies risky. When the market turns volatile, you might suffer high losses with the grid strategy, if you don’t know what you’re doing. So for beginners, this is not a suitable strategy at all. This is further compounded by the fact that you need to make a large initial investment.
Every EA vendor needs to test their trading strategies using historical data. Without backtests, it is not possible to discern whether the EA can deal with difficult market conditions. Since there are no backtesting results for The Comeback Kid EA, we cannot accurately gauge its profitability.
The Comeback Kid EA trading results
This live trading account on Myfxbook was launched on June 16, 2021. The EA has placed a total of 336 trades through this account, winning 65% of them and generating a total profit of $3643.64. Its daily and monthly gains are 0.17% and 5.26%, respectively, while the drawdown is 6.21%.
By checking the trading history, we can see that the EA follows a high-frequency trading approach. It places multiple trades on a daily basis, extracting small profits from each. Such an approach might not be suitable for long-term traders. Also, since the trading history is so short, we cannot objectively assess the system’s profit-making capability.
Pricing & refund
This EA has a hefty price tag of $497 which is much higher than the market average. The MT4 and MT5 versions of the EA must be bought separately. To make your purchase, you need to visit the MLQ5 website that does not offer a money-back guarantee. This makes The Comeback Kid EA a risky investment.
We were unable to find any user reviews for this Forex robot on third-party websites like Trustpilot, Forexpeacearmy, Quora, and Myfxbook. The lack of authentic reviews indicates a lack of reputation. Evidently, not many people trust this system because of its short trading history.