Dark Venus Robot Review (#1 Free Trading EA)

Dark Venus is a Free Forex robot, that I’ve used on multiple occasions.

I’ve turned $3000 into over $15,000 but I’ve also blown accounts with this EA.

So, I have a unique perspective, because of my live trading account experience, which is why I’m going to give you a complete review.

As well as, some insight into how I would use this robot on a live account, today.

Dark Venus Review

Over the past few months, I’ve been running the Dark Venus robot on a $3000 live trading account. I actually documented the entire journey in this video here:

I’d say the main thing I learned from this 3 months, is just how risky the EA is. Also, how important it is to read the entire installation guide, and use the correct settings file, as it is with any of the Best Forex Robots.

Even though, I inevitably blew the entire account, the fact that I was able to more than triple the account, means that there is some value here.

You just have to know when to pull the plug, before the robot runs into an unrecoverable drawdown.

I use this image above to show that if you get caught in either greed, or delusion, the profits you do have can quickly disappear in front of your eyes. Then, you fall into despair.

So how do we avoid this? Let’s start by looking at the Dark Venus EA strategy.

Robot Strategy

The Dark Venus trading strategy is based on the bollinger bands indicator.

This indicator is made up of three bands, with the middle being a moving average, and the upper and lower being a set of standard deviations above or below that. Essentially, as there is more volatility the bands will widen, always trying to contain the price within the bands.

The Dark Venus Robot will open buy trades when the price is at the bottom of the bands, and sell trades when the price is at the top of the bands. This takes advantage of the bollingers bands ability to contain price within those bands.

This is an effective strategy, because the bollinger bands is known as a reliable indicator.

Though, there is one issue, and it’s a really considerable issue.

When you look at the image above you can see the price is in a range. The price isn’t sharply moving up or down. When this happens, due to sharp increases in volatility, the strategy fails, and Dark Venus takes some pretty significant losses.

In my worst loss using the robot, it was a failure of strategy. The EA did what it was programmed to do, it did a SELL trade when price reached the top band, with the expectation that price would come back to the middle moving average.

In this case it didn’t come back, as an increase of volatility wasn’t expected, and the robot lost me a significant amount of my account.

Now, this is to be expected from a free trading robot.

I actually dealt with something similar a few years ago with my robot, Forex Fury.

I found that my trading strategy also performed much better in ranging market conditions, scalping quick wins, and avoiding volatility. So, I built-in a range detector to help avoid volatility, and only place trades in ranging conditions. Now this does limit the amount of trades that you get, but it lets you utilize the robot on more pairs, and have a much higher win rate.

This is definitely my recommendation to the Dark Venus EA robot developer, if they want this software to be something that can be trusted on a trading account for more than just a few weeks.

Dark Venus Settings

I do have some recommendations when it comes to the Dark Venus settings as well.

The mistake I made when I first started using the robot, is that I didn’t even look for settings on the MQL5 website, I just went right into the defaults with $3000.

In doing so, I incurred a terrible loss quickly, with a drawdown of over 80% in my first couple of weeks.

Upon downloading the EURUSD M15 SET file, I was able to recover my losses quickly, and even took the account to over $12,000 for a quadrupling.

But then, I kept increasing the risk to try and take my profits to the MOON.

Which admittedly, was a mistake.

I didn’t give the robot enough room to breathe. This made for big wins, which made my account multiply so damn quickly, but also made for big losses too which inevitably blew the entire account.

Dark Venus Settings

You may be thinking at this point, how could this be possible? How did the Dark Venus Robot blow a trading account in just over 2 months? Especially, when it has hundreds of 5 star reviews.

Well, there’s an issue with the reviews.

The image above is a bit blurred, but you can read “write a review at market to receive 1 paid indicator for free!”

Now it doesn’t say 5 star Dark Venus robot review, but it’s clear to me, that the developer is incentivizing positive reviews.

A lot of these reviews are very basic, and the top one is clearly just doing this for the “free indicator.”

I can’t imagine someone would write a 1 star review and then go “hey, here’s the review, where’s my free indicator.” My assumption is that if someone did that, they probably wouldn’t get a response back.

Would be an interesting thing to test, but I don’t like giving negative reviews, especially when

Conclusion

As far as free robots go, the Dark Venus EA is near the best I’ve tested.

Even though it blew my account, I was using it in a very risky way and even if it does blow accounts, then the client just needs to understand when to pull their profits.

I easily could have pulled my profits at $12,000 and this review would have been very different, but I always let my tests go, if not just for the entertainment value it provides in my YouTube channel.

So, all in all, it’s pretty good.

I’d say if you plan on using it, use it on demo first, get a feel for it, and understand that you will have to pull out your profits, so don’t get too greedy and get caught on the wrong end of a bubble burst like I did.

If you have anything you would like to add to my Dark Venus robot review, please leave a comment below. Tell me what I can do different next time, and maybe I’ll give it another shot!