FXMachine EA is a trading robot designed for the Forex market. This review aims to provide an analysis of its key features, trading strategy, along with its pros and cons.
FXMachine EA Review
FXMachine EA is a trading robot that has been actively trading on real accounts since 2020. It is based on a unique approach to market analysis, combining well-known methods such as indicators, price movement, and bar analysis with a non-standard perspective. The robot’s primary goal is to open 1-2 orders based on signals and close them in profit. If a trade cannot reach its preferred goals, the system activates an exit strategy. FXMachine aims to maintain profitability with low drawdowns.
Features:
- Real Account Trading: FXMachine has been actively trading on real accounts since 2020, providing a substantial track record for evaluation.
- Multi-Currency Algorithm: The robot is programmed to work with four major currency pairs: USDCAD, EURGBP, GBPUSD, and EURUSD, offering versatility for traders.
- Compatibility: FXMachine is compatible with any broker, eliminating the need for specific conditions to operate successfully.
- Proven Drawdown Control: The system incorporates an advanced drawdown control system, ensuring that the drawdown level does not exceed a user-specified limit.
- Backtesting: The EA has been backtested over the last 13 years, providing historical performance data.
Trading Strategy
FXMachine employs a trading strategy that aims to open 1-2 orders based on signals and close them in profit. If a trade fails to reach its profit targets, the system activates an exit strategy. It also employs a support algorithm to expedite the process of closing orders in profit or minimizing losses, preventing small drawdowns from lingering. The risk management system calculates StopLoss for all orders to ensure that drawdowns stay within user-defined limits, enhancing safety and stability.
FXMachine Expert Advisor
Pros:
- The EA has a substantial real trading history since 2020, providing a basis for evaluating its performance.
- It utilizes a multi-currency algorithm, making it adaptable to different trading pairs.
- Compatibility with any broker simplifies user choices.
- An advanced drawdown control system helps maintain a user-specified risk threshold.
- Users can choose between simple default settings or in-depth manual adjustments based on their trading preferences.
Cons:
- The trading strategy, while described in general terms, lacks specific details on indicators or market analysis methods used.
- The strategy tester’s recommended settings for spread, leverage, and potential losses in backtesting may require additional manual configuration, which could be a drawback for less experienced traders.
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Verdict
FXMachine EA offers a combination of real account trading history, advanced drawdown control, and broker compatibility. However, potential users should consider obtaining more detailed performance statistics and be prepared to manually configure backtesting settings for optimal results. The decision to use this EA should be made after careful consideration of individual trading goals and preferences.