Sydney EA is a popular algorithmic robot that combines the power of Artificial Intelligence with traditional technical analysis to predict future market movements of the GBPUSD and USDJPY symbols. The Sydney Forex expert advisor is said to be user-friendly and easy to set up, allowing traders of all skill levels to take advantage of its cutting-edge technology. But, can we trust the Sydney Forex EA?
PS: As per the MQL5 algorithm, the number of deals on the Sydney EA signals account was far too small to accurately evaluate its trading quality. It was clear to me that this was a newly opened account, and the trading results were likely of a random nature. The trading result is, however, not reliable. See the best Forex EA where you can be sure of transparency
Sydney EA Review
The Sydney Expert Advisor received a low rating due to several reasons. These include low trading activity, higher pricing, and the developer’s limited experience and track record. The lack of proven results and trading frequency added to our skepticism.
Features:
- Sydney EA can be used without risky methods like martingale, grid trading, averaging, etc.
- The EA has settings optimized for prolonged backtesting.
- The EA is recommended for GBPUSD and USDJPY pairs, but traders can test and experiment with other currency pairs.
- Recovery mode allows traders to attempt to recover a losing position automatically by opening additional trades to average down the take-profit value.
- Trailing profit mode allows traders to take advantage of large price movements in a favorable direction.
- Static mode allows traders to use the EA with a fixed lot size, capping the calculated lot size at their desired value.
- The developer increases steadily to limit the number of users trading with this system.
- Only 3 of 10 copies of this EA will be sold at the current price of $399.
Sydney EA Strategy
The Sydney EA’s strategy is based on Recurrent Neural Networks, specifically Long-Short-Term-Memory cells, which are trained using data from technical analysis indicators.
Because of this, the developer wants us to believe that the EA can learn and adapt to market changes, giving traders a higher chance of success.
EA Breakdown
- Type: Forex Robot
- Strategy: Artificial intelligence and technical analysis
- Recommended Pair: GBPUSD and USDJPY
- Timeframe: Any
- Price: $399
The price to buy a copy of the Sydney EA is $399. A monthly rental option is available at a price of $249/month. Clients will get the latest updated software that allows for up to 7 activations.
The high pricing of the Sydney EA was hard to justify, especially given the results are not reliable yet. It’s disappointing to see a developer charging such a premium for an unproven product.
Backtesting Report
I also found the backtesting result screenshot to be deficient. The screenshot did not provide sufficient details or analysis to give me confidence in the EA’s ability to perform in live trading conditions.
A thorough and transparent backtesting report is a critical component of any successful trading strategy, as it provides traders with the information they need to make informed decisions. In the case of Sydney, the absence of a comprehensive backtesting report only added to my doubts about the EA’s effectiveness.
Live Trading Results
There is a signals account monitoring the performance of this EA on a live account. The account is showing a total gain of 12% with a drawdown of just 2.8% within a period of 2 weeks.
As per the MQL5 algorithm, the number of deals on the account was far too small to accurately evaluate its trading quality. It was clear to me that this was a newly opened account, and the trading results were likely of a random nature.
Furthermore, the low trading activity of only 7 trades detected in the last month was a major red flag. As someone who has been in the trading game for a while, I know that a successful EA should have a high trading frequency to ensure that it is taking advantage of every opportunity in the market.
To add to my concerns, I discovered that the developer only has 2 years of experience in MQL5 and has produced only 5 products, with only 2 signals accounts. This lack of experience and limited track record only reinforced my skepticism.
Sydney EA Review Conclusion
Sydney EA is an automated trading system that combines artificial intelligence and technical analysis together with a set of unique features.
I cannot recommend the Sydney Expert Advisor given its low trading activity on signals account, lack of reliable trading results, relatively high pricing, and the developer’s limited experience and track record.
Sydney Expert Advisor
399 USD
Pros
- Performance result
- Free demo
- Low drawdown
Cons
- No myfxbook result
- High pricing
- Unreliable trading results
- New trading account
- Low trading activity
- Inexperienced vendor