Today I’m reviewing a new MT4 based expert advisor that’s introducing a 100% automatic self recovering algorithm that yet to be seen in this market, Forex Phoenix Robot. The software comes with built-in push notifications, so you can receive notifications on your cell phone every time a trade is opened. They’ve also included different visualization elements, so traders can see how close the open trades are to hitting the take profit or stoploss.
This is the first Anna Monti release of 2018, as her last product came out in May 2017. Considering how frequently this trading group releases products, this is a much longer time between releases than normal. It is pretty well known at this point, the most traders in this market believe that Anna ‘Forex’ Monti, Rita Lasker, and Alex Tanuka products all come from the same group of developers. Regardless, traders can get in touch with support by emailing firstname.lastname@example.org.
Forex Phoenix Robot Review
Anna tells us that her new Forex Phoenix Robot is a collection of the “best features from our best products in one.” She believes that utilizing past technology, alongside new technology is a way to provide a higher level of safety which makes this hands-free trading easier to rely on. In doing so, the EA will monitor the market and set very specific limits to ensure that the software only trades within its algorithm.
The development team tells us that the robot is based on a moving channels breakout strategy. On the chart, traders can see a yellow box which indicates “the limits of the actual price channel,” and when those limits are reached, a new trade is placed. This is a very simple explanation of how the EA looks for new trade opportunities, and it doesn’t offer any real detail or insight into the overarching strategy.
I would like to know more about this breakout strategy, to understand the true methodologies behind this trading system. I find it difficult to sign up with any software, without a brief a brief explanation of how it works.
- Type: Forex Robot
- Price: $99
- Strategy: Channels Breakout
- Timeframe: H1
- Pairs: EURUSD, USDCAD
Going for $99, the Forex Phoenix Robot is on the lower end of the price scale when it comes to expert advisors. For this purchase price, traders get access to 2 licenses, as there is a time-limited package that provides an extra license. Generally, these websites don’t change, so you will likely have access to this deal forever.
The software works on the H1 timeframe, and on just two pairs, which is good to see, as Anna has been less focused in on past projects. What I mean by this, is that she’s had systems that are built to work on every pair and every time frame, which just doesn’t work.
My main complaint about Anna’s products remains consistent with the Forex Phoenix Robot. The trading results are provided to us with such a small sample size, and they are never verified by statement sharing services like Myfxbook or FX Blue.
It’s as if Anna runs trading systems the year round, and when one of them has an impressive month, then she releases the software based on that single month. The current trading statement provided, shows us how the system operates from January 2, to February 2, 2018. This sample size is so small, that there might as well be no results at all. That may sound like an exaggeration, but to me it’s not, because the importance of seeing how it trading system operates over at least 3 months is imperative when it comes to empirical evidence.
Furthermore, this data is not verified by statement sharing services, so Anna could easily be adding or removing trades wherever she likes, because this trading statement could easily be modified.
There are aspects of the presentation that I appreciate, but I don’t feel like the Forex Phoenix Robot is a proven viable winner. With a price point of just $99 we could easily test the system out for ourselves, but time is also money. I don’t feel like it should be our job as the consumer to prove that the product works. It should be the developer’s job to prove that the product works, in order to convince us that it’s worth purchasing. At this point in time, I just don’t see that as being the case.
Please let me know what you think about this product by leaving your comments and reviews now.