EA Review: Asmani Pro

Asmani Pro is a new Forex robot advertised as a low risk and consistent performer. It’s built to work on the M15 timeframe exclusively, with the EURUSD and EURJPY pairs. Traders can utilize the software with the minimum of $300, but the vendor does make it abundantly clear that the ideal deposit for best results is $1000. Today, we will be providing you with a full review and analysis of the software to help you decide if it’s an expert advisor you would like to add to your trading accounts.

The developer of the robot is Mangesh Chinchalkar, located in India. This is his first product on the MQL5.com market. He is the only developer working on this project, but it’s worth noting that he is providing frequent updates which is a good sign. The product was first released on February 14th, 2019, and last updated May 14th, 2019, to version 21.1. This means that the robot has been updated over 20 times, since it was released just a few months ago. Here at Forex Robot Nation, we always appreciate active developers.

Customer support is provided via Whatsapp (+919890059592).

Asmani Pro Review

The Asmani Pro sales page is made up a very short explanation, and then 5 different blog post which go into different details about the system. These blog posts include information about the strategy, inputs, back testing approach, frequently asked questions, profit and risk analysis.

It’s good to see that the developer is providing a more detailed analysis than most of their competitors.

Trading Strategy

There are 7 different steps in the Asmani Pro EA strategy.

1. The robot waits for the market to be either overbought or oversold.
2. The trade is placed when there is a clear reversal the trend based on 3 indicators (RSI, MA and Bollinger Bands).
3. If the first trade goes in the wrong direction, Asmani will open a second trade when another reversal is found.
4. This strategy will keep opening trades until the order per basket setting is reached.
5. Lot size is determined.
6. The whole basket is closed when a specific profit is reached.
7. If “LockBasketCheck” is set to true the robot will start reversing trades to reduce the drawdown.

These are all of the steps provided by the vendor. While it isn’t completely clear, it is one of the most detailed methodology reports we’ve ever seen Forex robot marketplace. We hope that other systems that want to qualify for our best Forex robot ranking, consider doing the same.

Robot Breakdown

• Type: Forex Robot
• Price: $290
• Strategy: RSI, MA and Bollinger Bands
• Timeframe: M15
• Pairs: EURUSD, EURJPY

Priced a little higher than we would expect, the Asmani Pro software is currently going for $290. Luckily though, the vendor does provide free demo usage, so you can test the software for as long as you like, before purchasing a live license. The vendor also provides a Asmani Lite version which is completely free and can be utilized on a live account, with the only condition being that the max lot size you can use is 0.01. So, this is another way that you can test the system, to see if it fits your trading style.

This approach is always recommended, as you can see in our recent reviews of Star Trader EA, and Big Boy Robot.

Client Feedback

As it currently stands, the client feedback is very positive with 53 separate 5 star ratings. Many of these clients are reviewing the system little too early, but they are happy none the less.

Trading Results

While there is no Myfxbook accounts, which is disappointing, the Asmani Pro developer does provide an MQL5 signal page with their demo trading results.

The signal page is showing a 24% gain in the 7 weeks since the account was launched. This demo account started with an initial deposit of $1000, and is now up to $1236. There have been 85.3% profitable trades, and 14.7% loss trades.

According to the results, the maximum drawdown of just 5.3%, but these does seem a little low. We have found in the past that the MQL5 signal pages, often show a drawdown that is much lower than it is in reality. For this reason, we do hope the vendor uploads his trading account to Myfxbook, as they are much more reliable.

That being said, the results do look good thus far.

Conclusion

The Asmani Pro expert advisor is still very new to the market, so we would like to see much more client testing and feedback here on Forex Robot Nation, before we make a recommendation. As it stands, the system shows quite a bit of promise, so let’s continue to see how it performs over the next few months.

If you have anything you would like to add to the review, please leave your questions and remarks below the article now.