EA Review: Auto News Trader

Today I’m looking at a new automated software coming from a 28-year-old college dropout that’s promising profits of nearly 2000%, Auto News Trader. The developers of this EA, tell us that they’ve put together a system that has the ability to read and react to explosive market movements, unlike anything that is ever been released to the Forex trading public. We are told that “when news events happen, you can have quick moves the lead to 20 pips, 40 pips, 60 pips within seconds and minutes.”

The 28-year-old dropout refers to himself as Josh Hamilton, an unknown in the Forex marketplace. Generally, names like these are aliases put forth by developers that a been behind multiple systems, but want to give the marketplace a fresh look. In this case, the first email I received was from the Forex Growth Bot developers, and if you go to the upload of the YouTube channel, you will see that it belongs to Lance Hunter. Lance is a much more well known Forex developer and his been behind recent products like Scalp Bitcoin, Fluid Trader, and Signal Steps.

To get in touch with support, traders can email support@autonewstrader.com.

Auto News Trader Review

At the beginning of my review of the Auto News Trader I focused on who the creators of the system were, and gave you a few links to some of their past products so that you can verify their credentials. Now, I want to look deeper at the sales page, and analyze how this works, and the trading strategies that are being utilized.

The method is broken down into 3 simple steps for trading economic news events. The first step requires the traders use the Forex Factory calendar, to identify major news events. The second step requires the traders have their trading charts open before the action starts and get ready to make an entry at the first market move, in that direction. Then in the final third step, using trailing stops and cost averaging, traders need to take profit from their finished trade.

While this process is explained as something very simple, Josh explains to us that the difficulty occurs in step 2 and step 3. He claims that the market moves very quickly in these conditions, which makes it easy to miss opportunities, and why he believes his Forex robot is a perfect fit for this trading approach.

Breakdown

• Type: Forex EA
• Price: $197/Year
• Strategy: News Trading
• Timeframe: Undisclosed
• Pairs: AUDUSD, EURCAD, EURUSD, GBPUSD, NZDUSD, USDCAD, USDJPY, USDSEK

Currently, the Auto News Trader developers are offering their software for $197 year, or a one time lifetime membership of $397. Neither of these packages tell us how many accounts the software can be utilized on, and whether there is some sort of limit to demo or live licenses. This is certainly information that they will need to be providing to the community.

The timeframe in which the EA operates is also undisclosed, and this is something I would like to know before I make a final judgment.

Trading Results

The trading results section of the Auto News Trader review, is when things get a little bit dicey. There are quite a few screenshots of different accounts, there is an investor access but the only account we can visibly verify is the statement hosted with FX Blue. There is a screen shot image of a Myfxbook account, but we can see that it was last updated a month ago, and we can’t seem to click on it, which likely means that it no longer exists. In doing a search on Myfxbook manually, I was unable to find this account, so it’s possible that it crashed during the holiday period.

The FX Blue account is showing the growth of just over 1700%, over 852 days. While I prefer other statement sharing services, I don’t see any problems with the validity of this statement. What I do see, is a product that was most successful back in 2015. I’m not sure why this software wasn’t released when it was performing at the peak of its abilities.

There has been a gain in the past few months, but for the most part, all of the largest gains for this account came in mid-2015. As we look at more recent performance, we can see that the system is still profitable, but it isn’t the groundbreaking tool that’s going to grow your account over 1700% in a very short period of time.

Conclusion

While the sales page isn’t the most helpful I’ve ever come across, I don’t see too many issues with the Auto News Trader EA. Obviously, I would like more transparency when it comes to the other trading accounts that are being discussed, and also in terms of who is actually the developer of the product. I’m not interested in stories about college dropouts, I’m only interested in effective trading methods.

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