The Comeback Kid EA is a new Forex robot that offers both manual and algo features. The Comeback Kid Manager EA is the latest Forex robot from responsibleforextrading.com.
RensponsibleForexTrading.com is behind some of the most popular EAs on the internet like Ranger EA, Vigorous EA etc. They claim to have developed some of the best money management techniques to get you profiting long-term in trading.
The Comeback Kid EA is currently selling at $497 per license and the vendor recommends using it on 5-10 trading pairs, 1:100 leverage and $3000 minimum deposit to bring estimated profit of 5-10% a month.
In as much as the price tag is above what we expected from a Forex robot like this one, the vendor is adamant on selling licenses for the MT4 and MT5 versions separately.
Our review will therefore help you make an informed decision as to whether or not this EA has what it takes to be on this page of the best Forex robots in market.
The Comeback Kid EA Review
Our initial impression of this EA is somewhat positive. The developer has a straightforward website with a quick glimpse of what the robot does and how it achieves its mission. They tell us that The Comeback Kid EA ”should be more powerful than anything RFT has ever created!” thanks to the manual/auto combination.
I do not know whether their robot can live up to these promises until I see results. Since there is a myfxbook track record and some insights into their strategy, we can hopefully look at the statistics and determine the viability of this Forex robot.
The Comeback Kid EA Strategy
The algorithm of this expert advisor is based on two indicator system – An averaging-in flex-grid system and a trend trading system.
The averaging-in flex-grid system focused around key S/R resistance points to recover bad/losing trades. According to the developer, this system doesn’t blindly take grid positions. It takes them when price is most likely to move in your favor.
The trend trading system gives you great entry’s after the trend has a pullback. The aim of this system is to scan your charts 5-10 minutes a day for possible entries. The developer wants us to believes that this has the ability to close each trade or group of trades in profit/loss based on preference.
While this strategy sounds interesting, there is no much details pertaining how this two strategies inter play to yield results. We are not sure of the system that comes into play first when the robot is put into action.
However, it is obvious that there is some element of grid trading method in the picture. Having said this, we’ll look at the trading performance to evaluate The Comeback Kid EA’s performance so far.
The Comeback Kid EA Result
Am not surprised to discover that The Comeback Kid EA has a good myfxbook performance. This is usual for a new expert advisor strategy that has not yet passed through the sands of time. This is true considering that the EA has not existed for quite a long time now. We are not going to put much emphasis on the few samples we have on myfxbook.
Either way, this EA seems to be achieving its goal with these strategies. Currently we are talking of a Gain of +10.58% from June 2021 up to now. Monthly return is 5.28% while drawdown is just 2.54%.
The Comeback Kid EA has completed 296 trades where the average pips won in a trade was 85.85 pips as against an average loss of -115.05 pips.
Definitely this is a good start for the robot but we need to remind that the robot has a blend of grid strategy in its trading algorithm. It is unusual for an EA with such a strategy to keep a sustainable result in the long run.
Although this EA is showing a good start at the moment, we still want to see how it performs in the long term before we can prove their algorithm as a solid track trading system.
This is not to say we do not trust this vendor from the word go. However, it is sometimes good to see how an algorithm performs in a more hostile market condition. Also, we would like to hear what users say regarding the same product.
We will definitely watch this space in the coming months to see if the Comeback Kid EA will actually make these results sustainable.