Today I’m analyzing a new Forex expert advisor the claims to the perfectly automated algorithmic trading system, FX Street Robot. This developer knows that 95% of traders lose their money, and they believe it’s because traders don’t have access to a solid tested trading strategy. They feel that this is something that they can offer the community, with their Forex robot.
The vendor provides us with no information about who they are, what type of trading history they have in the Forex market, or where they are located. Hopefully, this is information they add to the website at some point in the near future. In the meantime, traders can get in touch with support by emailing email@example.com.
FX Street Robot Review
The developers of the FX Street Robot believe that in their experience from creating automated trading systems in the past, they’ve found that simplicity is a key. Due to this, they’ve created a robot that automatically optimizes its trading logic, and can adapt do any market conditions because it uses a combination of “5 technical indicators” to predict market movement. They claim that the EA took 4 years of intensive development to produce, due to a complex mathematical formula that analyzes every opportunity in detail.
The robot uses a hedge trading strategy, that includes a risk percentage setting so that traders can specify their own money management. The hedging strategy isn’t explained in much detail. We are just told that the robot uses this approach to filter out bad trades and dramatically decrease the amount of losses the system would incur otherwise.
The coding team feels that utilizing a new source code, and improving the EA frequently, allows for them to win on a consistent basis. Frequent development and upgrades are important in any expert advisor, as you can see in our recent reviews of Econ Power Trader, ForexBot28 and TradeRobo.
- Type: Forex Robot
- Price: $99-$119
- Strategy: Hedging
- Timeframe: Undisclosed
- Pairs: EURJPY
The FX Street Robot comes with three pricing plans, basic at $99, standard at $109, and pro at $119. All of these plans provide lifetime access to the software. The basic comes with one real account, the standard comes with 2 real accounts and the pro-comes with 3 real accounts. All 3 of these plans also include 100% automated trading, free upgrades and support.
It’s interesting that the robot is focused on the EURJPY pair, because this is not something we see frequently. I do find myself more interested in trading products that are unique, and expert advisors trading lesser-known pairs is right up my alley.
The vendor provides us with one FX Blue account, which has been running for just under 3 months, showing a gain of over 283%. The largest drawdown is 45%, and the software trades one time per day with the average trade length of 44.5 hours.
The worst trading day ever had was a loss of -39.2%, which is a pretty substantial loss, but they seem to have recovered since. The large gain over such a short period of time leads me to believe that this is a high risk trading robot. In my experience, there are no trading systems that show 50% monthly gains without a certain amount of risk connected to the account. This is certainly something we have seen with the drawdown of 45%, and also in their worst trading day.
With an 87% winning percentage, the software is certainly performing well to this point. I’d like to see how it does on real customer accounts, and how it does over a much longer period of time. I would also like to see the system uploaded to Myfxbook, my preferred statement sharing provider.
As its early, I don’t feel it’s necessary for us to dive in and test the FX Street Robot today. I think it’s our best bet to sit on the sidelines and see how this system continues to perform over a longer sample size. Let’s also see how the community is reacting to the software as well.
If you have anything you would like to contribute, like your personal trading results, please post them below the article now.