Dark Clouds EA is another robot on the MQL5 market that is starting to draw some attention from the community. The expert advisor is built to work with multiple strategies, either scalping or intraday trading. Today, I will take a look at both of these different trading approaches, and let you know if the system projects to be a profitable one moving forward.
The developer of the software is Marco Solito, a Forex trader who currently has 9 different products in the MQL5 marketplace and owns tradingquantitativo.it. This product list includes Dark Hole, Scalp Extreme Inside EA, Dark Scalping, Dark Comet, Latency Arbitrate System and a few others. In order to get in touch with support, traders can fill out a contact form on his trading website, email firstname.lastname@example.org, or Whatsapp: 3318829300.
Dark Clouds EA
The Dark Clouds EA uses “an artificial intelligent algorithm” built to predict and anticipate market movements. The vendor does not elaborate on this algorithm, so we really don’t know how the software works on a strategic level. It’s never a good sign when the developer can’t provide a brief overview of their trading methodology. It’s understandable that every developer needs to hide certain aspects of their trading approach, especially the unique elements that contribute to a systems success. If the developer provided every aspect of their approach, then their system could be re-created and distributed by a competing developer. Yet, in this case there are zero shared elements, which is a level of secrecy that isn’t required, and does not help the consumer or vendor in any way.
Marco does provide us with the different parameters that make up the EA, and has a couple of different settings files available in his blog.
I would like to see much more in terms of strategy insight with this product. It is following in the footsteps of too many other robots like the Z Trader FX EA and Hunter Scalper systems that don’t provide enough information to the public. The Forex market is one that demands information, so it makes no sense for a vendor ever to be secretive or hide important aspects of their trading approach from the public.
- Type: Forex Robot
- Price: $490
- Strategy: Undisclosed
- Timeframe: M1
- Pairs: EURUSD
With a price tag of $490, the Dark Clouds robot isn’t cheap. The software can also be rented at $190 per month, but this is a pretty useless rental price being as in 3 months you’d have paid more than the price of the system. There is a free demo which is the recommended starting point. The robot was last updated on December 17th, 2018, and is currently on version 2.2.
The sales page is strictly back tests, but I did a search for the Dark Clouds EA on Myfxbook, and did find one of Marco’s accounts. The robot is showing a gain of 16.42%, with a drawdown of 5.48% since it started running on November 8th, 2018. The average win is 8 pips, and the average loss is 15 pips, which makes out to about a 1-2 risk reward ratio. This is a workable risk reward ratio as long as the system has a good money management approach.
The only oddity I found in the results, is the fact that the system is down 42 pips overall. Generally, trading systems that lose more pips that they win, don’t succeed in the long term. In order to be successful in the markets, increasing pips is of pivotal importance.
That being said, the trading results are passable, and do interest me. The sample size is still small though, so I will be watching this closely over the next few months to see how it continues to perform.
There are currently 10 reviews for the Dark Clouds robot, and all of them are 5 star reviews which is a very good sign.
Here is one of those reviews:
There are certainly both positives and negatives to the Dark Clouds EA. While the results haven’t been running for a long time, I am impressed by the short-term gains that we are seeing on the live account. The main issue I have with the system, is the fact that the vendor doesn’t provide us with any real insight into the trading approach. This is something that could be fixed easily, and hopefully it will be in the near future.
If you have anything you would like to add to the review, please do so now.