Today I’m looking at a new Forex expert advisor promising to grow your trading account 40% per month passively, Tension Trader. The developers of this software promise a large return with very little risk, because they don’t use any dangers trading methods, like martingale, or grid trading.
While there is no information on the sales page about the development team, I have found other reviews claiming that this product is developed by known EA developer, Lance Hunter. The sales presentation, is in line with the normal aesthetic of a Lance Hunter product, so I trust this information is true. It is unknown where Lance, or his Forex development team is located, but traders can get in touch with support via email email@example.com.
Tension Trader Review
The sales page for the Tension Trader EA is not as abundant as I would like. There is very little information, outside of the 5 minute sales video located at the top of the page. In this video, we are told that the software is built to provide gains between 10% to 40% per month.
In terms of strategy, Lance tells us that the main focus of the EA is to focus on achieving “maximum profit while maintaining a low risk overall.” How this is accomplished, and what type of methodologies are being utilized, is not information that we are being made privy to. The majority of the information being provided sounds like it is being spoon fed to beginners. There are very generic statements about the strategy being safe, and working with a variety of account sizes, but there is never any actual detail.
If I’m going to consider this software moving forward, I’m going to need much more information about the underlying strategy. Hopefully the developers modify their website and provide us with more strategic analysis. I’ve reviewed many products lately that don’t spend enough time discussing their trading approach, like Forex Pips Plus, and Auto News Trader.
- Type: Forex Robot
- Price: $497/year
- Strategy: Scalper
- Timeframe: Any
- Pairs: EURUSD, GBPUSD, AUDUSD, USDCHF, EURAUD, EURCAD, EURGBP, NZDUSD, GBPJPY, EURJPY
Priced at $497 per year, the Tension Trader EA is certainly not a cheap product, and one that is priced at the higher-end of the normal expert advisor marketplace. Depending on the success of a product, and the trading approach, I generally have no issue with where a developer wants to price their trading system, as it’s their prerogative.
In this case, I do have a little concerne, as the developer isn’t giving us much information to go on. Thus, it’s more difficult for me to spend on the higher-end, when I don’t know how the product works.
Where the Tension Trader software shines, is the trading results section, and as a frequently said in the past, this is the most important section. While there aren’t multitude of trading accounts, the developers do provide one live account hosted on Myfxbook showing a gain of over 160% since September 2017. This is a span of about 7 months, so we can get a pretty good idea of how the EA trades, just by analyzing the statement.
The software is gaining approximately 16% per month, with a max drawdown of under 15%. This is a very impressive ratio, and not something we see frequently in the Forex robot marketplace. The robot has only had one losing month to date, and that’s actually the month that is occurring right now, April 2018. I don’t believe that this is significant, nor do I believe that it is signifying that this is the pending downfall of the trading strategy, but it’s something we should look closely at moving forward.
I’m happy with what I see from the trading results.
As I write my conclusion, I’m torn on my recommendation for the Tension Trader. While I am impressed by the trading results, I am a little reserved on recommending the system immediately, because the developers didn’t explained to us how the software works. I think the best recommendation for now, is to wait and see how the software performs on client accounts, analyze those results and then make our decision in 2 to 3 months from now.
If you’ve anything you would like to add to the review, please leave your questions and remarks below the article now.