Today’s review will be about Gainer EA, a popular Forex robot that was published by Ervand Oganesyan on June 22, 2022. The robot was last updated 9 January, 2023 and it allows for 10 activations.
Ervand Oganesyan is operating this Forex robot from Russia and has a considerable ratings of 8836 on MQL 5. The profile has 19 signals and with only 3 products.
Gainer EA Review
The Gainer EA presentation is sparse and lacking in important details. The developer provided information on the robot’s regular parameters, but failed to elaborate on the working strategy of the Forex expert advisor. So, we have to ask an expert in order to get an overview on how the EA may work. Let’s take a look at the robot’s various features:
- The robot trades fully-automatically on the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms.
- The Forex robot is a mean reversion range EA
- The system has spread control and will avoid trading on untested market conditions with huge spreads
- It trades on both majors and cross currency pairs.
- The stop-loss and take-profit values may be set in pips or percents of current price
- EA trades 24/7 by default. User may futher define which days of week and hours of day are tradable.
- We can customize only the timezone and volume inputs parameters of the system. The rest, it does for us.
- It originally works on USDCAD and GBPUSD on a M15 timeframe.
Gainer EA Strategy
The EA is a very simple robot that makes use of mean reversion trading strategy to find trades. Mean reversion is a financial theory which suggests that, after an extreme price move, asset prices tend to return back to normal or average levels. Prices routinely oscillate around the mean or average price but tend to return to that same average price over and over. Supposedly, Gainer EA will take advantage of this characteristic price movement in combination with stop-loss and spread control to open and manage trades.
Trading history shows that the EA uses fixed lot size with no predefined stops and targets. The Forex robot takes few trades per week with an average trade length of 24 hours (1 day).
EA Breakdown
- Type: Forex Robot
- Strategy: Mean reversion
- Timeframe: M15
- Recommended pairs: USDCAD, GBPUSD.
- Price: from $499
- Terminals: MT4 and MT5.
The robot costs $499 for a lifetime access. Monthly and yearly rental options can be asked for at the price of $149 and $249 respectively. There’s a free demo option for those who want to check the EA’s parameters in the terminal. There’s no money-back guarantee.
Backtest report
We have a screenshot of the USDCAD backtest running from January 1, 2021 to December 1, 2022. The initial deposit was $1000. The leverage was 1:500. The total net profit has become $1.5M. The relative drawdown was 23.13%. The profit factor was 1.58, with 5.02 of the recovery factor. Gainer EA closed 2174 deals with an 64%-73% win-rate.
Trading Results
We have a live USD account running on Alpari MT5 platform. This is a 100% algo trading account with 1:500 leverage using expert advisors we believe are from Gainer EA. The account has an activity rate of 76.6%. It was created not so far ago, on December 05, 2022. Since then, the total gain has become +159%. The monthly growth is 7.38%. The maximum drawdown is 18.4%.
Gainer closed 130 trades since 12 weeks of account opening. An average profit of $4.87 slightly lower than an average loss of -$5.23. The win-rate is 49% for Longs and 50% for Shorts. An average trade length is one day. The Profit Factor is 1.65.
The Gainer EA trades without excessive drawdown, though the result samples are comparatively few and cannot depict trading quality. You can take a look at the best forex robots page for some other robots with wider result samples to analyse.
Gainer EA Review Conclusion
Gainer is an expert advisor that makes little profits, trading mostly USDCAD and GBPUSD. The expert advisor has just twelve weeks of trading experience providing below average results. We don’t know for sure if it can increase its profitability in future. We’d like you to keep an eye on the results for two-three months more before purchasing it.
Gainer Expert Advisor
$499
Pros
- Performance result
- Simple to use
- Moderate pricing
- Risk controls
- Acceptable drawdown
Cons
- Poor strategy insight
- No verified result
- Little profits
- Trading accounts are less than 3 months
- Below average win rate
- Basic software