Einstein Trader is a new automated Forex robot developed by the same people that brought us Million Dollar Pips back in 2012. Yes, it’s about 5 years ago almost to the date and here we have a new Forex trading product that’s designed to work with almost any size account.
Today we will be providing a review, analyzing the my FX book accounts and letting the Forex robot nation community understand the potential positives and negatives associated with this EA.
Einstein Trader Review
It’s certainly interesting to see an old developer provide us with a new Forex robot. There are a handful of traders that continue to develop new products in this market but it’s extremely rare to see a five-year break, so let’s hope this time off lead to more innovation with the Einstein Trader.
Much like the million dollar pips robot, the Einstein strategy is also a scalper. The average trade length is 9 seconds long. In order for the robot to be successful you would have to have access to a virtual private server, and a broker with little to no spread that also has extremely fast execution times. When dealing with trades that are less than 10 seconds long the speed of the Internet connection and the ability to speak back and forth with the brokerage is extremely important.
- Type: Automated Software
- Strategy: Scalper
- Pairs: EURUSD, USDJPY, GBPUSD
- Timeframe: M1
- Cost: $497
Considering the developers of the Einstein Trader are the same people that brought us Million Dollar Pips, we should revisit the successes and failures of their biggest seller. This robot was extremely popular because it was one of the first trading systems that seem to able to crack the my FX book code. What I mean by that is MDP was the first commercially sold Forex robot that had extremely profitable my FX book accounts.
Yet, this doesn’t tell the entire story. Here on Forex robot nation we have over 140 comments and the feedback isn’t always very positive. On FPA the software is rated 2.39 out of 5 with 79 reviews. The majority of the reviews are quite scathing.
While the MDP robot sold many copies, looking back it never earned traders the expected return shown in the myfxbook accounts.
Einstein Trading Formula Results
Much like Million Dollar Pips the Einstein Trader has a collection of impressive my FX book accounts. There are currently 6 accounts on the developer website to analyze. The first account shows a gain of nearly 500% from February 2014 to today. However, if you look closely at this account there is a very odd gap where from September 2014 to March 2016 there isn’t a single trade. This account also insinuates that this robot has actually been available since early 2014. If the developers have been waiting 3 years to release the software that’s certainly their prerogative but it does strike me as somewhat odd.
It seems as though each my FX book account provided by the developers is better than the last with some demo accounts showing over 20,000% gained.
The only question we really have to ask of the Einstein Trader is will it be able to perform as well as it does on it’s my FX book accounts for the traders that decide to purchase it. Obviously, the million dollar pips software was unable to live up to the expectations set by its extraordinary my FX book accounts which makes me skeptical that this could lead us in the same direction. The best approach for products like these that are priced highly and still have questions that need to be answered is to wait for community feedback. Don’t feel like you need to be the first person who owns this robot.
In the meantime, if you are looking for a Forex trading product that’s performing well in 2017 I suggest you check out the top rated Forex robots page here. These trading systems are being used by the majority of our readers and have been for years. Thanks for stopping by, follow us on Facebook, Twitter, YouTube and please leave a comment below.