The creators of a new Forex robot claim to be millionaires thanks to their newest trading software, Extra Edge FX EA. According to the sales page the developer of the system is already a millionaire and wants you to be “free financially and become a millionaire in the near future.” The sales pitch is consistent, “yes, you will be a millionaire one day.” It’s clear that the development team is selling a dream here, so it’s important that we understand if this is a real investment opportunity or a get rich quick scheme like it’s coming across as.
Despite being told that the creator of the system is a millionaire, we don’t know anything else about him. We are not introduced to this millionaire, and we are not given any information about his location of the location of this company. For support, you can email firstname.lastname@example.org.
Extra Edge FX EA Review
The product producer tells us that his Extra Edge FX EA is better than the other trading robots on the market because he is a full-time trader who doesn’t promise overnight riches. This is contradictory to the majority of the sales page where he is certainly promising overnight riches and uses the term millionaire on multiple occasions. On top of that, the developer isn’t telling us who he is, so we can’t verify if he is a full-time trader or not.
If the creator is going to promote the software based on his reputation, he should give us proof of that reputation.
Type: Forex Robot
Pairs: EURUSD, GBPUSD
The best way for us to continue analyzing the Extra Edge FX EA, is to view the trading results. The vendor currently provides us with one FXBlue hosted trading account. This account has been running 32 days and shows a total return of 83%. This is a very large gain, in a short period of time. With the account balance going from 1500 to 2600, I don’t think we are in millionaire territory just yet, and even at this accelerated pace it would take quite a long time.
During this 32 day period, the system is traded 73 times, so it is quite active. Each pair hovers around a winning percentage between 66 and 68% and have profit factors between 4 and 6. In looking at how the software trades, it’s quite impressive. The risk reward ratio is approximately 1 to 5, which means you are winning trades on average 5 times larger than losses. The winning trades are generally 25 pips and the losses are ranging from 5 to 35 pips.
Obviously this is a very small sample size so we cannot truly believe everything we are seeing here is going to result in long-term success. Yet, the early returns are enough that we should continue to monitor this robots trading habits moving forward.
As is frequently the case, I’m not going to jump in and purchase the Extra Edge FX EA today, but I am going to keep an eye on it. Obviously, there are elements in the sales page that didn’t impress me, like the promises of millions but the results helped to even that out for me. The trading results on the FX blue account are quite impressive and put forward a trading strategy that I would like to see more of.
So with that being said, if you have anything to add please leave your comments now.