Today I’m analyzing a new Forex expert advisor developed with the intention of winning multiple trades in the same direction simultaneously, Forex Impulse Trader. While there strategy is certainly unique, most developers would rely on a trailing stop loss to achieve the same end goal, instead of multiple trades. I’m not exactly sure why they’ve decided to utilize the strategy, but it’s definitely something I’ll be digging into further, during this review.
The software is developed by the Automated Forex Tools group who despite having a very professional looking website, do not provide us with any information on their corporate headquarter location. They claim that their forks development team as up to 12 years of experience, but they do not introduce us to any of them, so we cannot verify their historical significance in the Forex marketplace. In order to get in touch with support, traders can email email@example.com.
Forex Impulse Trader Review
The main goal of the Forex Impulse Trader EA is to detect market impulses, and use this approach to determine safe market entries. As I mentioned above, the robot takes advantage of two take profits, “FirstTrade_TP and SecondTrade_TP.” So, the EA will open two trades at the exact same time, exit one of those trades early with the original take profit, and then set a new take profit in the same direction, for the second trade. The take profit for the second trade will be the exact same take profit as the original trade, just added onto the original trade’s close price.
This is a very interesting approach, in that I’ve never seen the developer utilize this methodology in the past, but that doesn’t mean it’s perfect. In fact, I do have my reservations about this trading approach right out of the gate. I find it odd that the developers are running multiple trades in the same direction at the same time, instead of just using a basic trailing stop approach. I feel like this methodology allows for double the risk. If both trades are successful that’s perfect, but there is also the opportunity for 2 losses, or one of the trades to win, and the other trade to lose shortly after. In order for this to be a very successful approach, the EA will have to be very accurate in its original read of the market.
The Automated Forex Tools group currently have 7 Forex expert advisors on the market, including the Forex Profit Defender, which I reviewed in late 2017. If you want to get a better feeling for this company, I recommend you peruse my analysis of their other systems as well.
- Type: Forex Robot
- Price: $58
- Strategy: Multi-Trade
- Timeframe: M15
- Pairs: EURUSD, GBPUSD, EURAUD, USDJPY, USDCHF, EURJPY
Much like the Automated Forex Tools other systems, the Forex Impulse Trader is very reasonably priced at just $58. With this price, traders get access to one real account, two demo accounts, 24/7 support, lifetime updates, and a 60 day moneyback guarantee.
In the breakdown we can also see that the software runs on 6 pairs, but the vendor recommend that traders focus on the EURUSD and GBPUSD, as these have proven to be the best performers.
Under the Myfxbook username “automatedfxtools” the vendor provides us with a single trading account to illustrate the Forex Impulse Trader on a demo account. Both the track record and trading privileges are verified for this trading account.
The account has been running since early May 2018, so we are really only looking at a sample size of just under 2 months right now. Over this period of time the robot is showing a gain of 5.8%, with a 5.24% drawdown. From what we can see here, it’s clear to say that this software is using a very low risk low reward trading approach. The daily gain is .14%, but the software has been active in trading 77 times during the testing process.
The developers also provide us with a handful of back tests, but these don’t really interest me in 2018.
I’m not exactly sure if I’m going to dive in and test Automated Forex Tool’s Forex Impulse Trader right away, because the EA isn’t showing the most impressive gains out of the gate. Yet, I will say that for the price, and the low risk capabilities, that it would be the worst robot to test out for a couple of months. Yet, I would still like to see a much larger sample size, before I anoint this system a truly low risk trader.
Thank you for reading my review, and please let me know what you think about this EA by leaving a comment below the article now.