Today I’m analyzing a new Forex robot built for traders that want to take advantage of both scalping and intraday trading strategies, Dark Hole EA. This probably isn’t the best name I’ve ever come across for an expert advisor, due to the obvious connotations associated with a dark hole. When it comes to investing money, the last thing the consumer wants to imagine is a pit, or a hole, because these terms are closely related to devastating losses.
The robot is developed by Marco Solito, and Italian developer on MQL5 who’s currently providing the community with 14 different products. He is selling a collection of expert advisors, and indicators that range anywhere from $49 to $400. Marco has an Italian Forex development website, tradingquantitativo.it, which translates to quantitative trading. In order to get in touch with support, traders can fill out the contact form on his website or email directly to email@example.com.
Dark Hole EA Review
The Dark Hole robot “strategy starts with pending orders that follow the price until a strong turnaround where we capture the profit.” At side of this sentence, the developers do not elaborate on the strategy, so we don’t know the intricate details of their trading approach. Generally, I want a little more in-depth discussion about the robot methodology, but Marco clearly speaks English as a 2nd language, so I don’t want to be too critical in this portion of my review.
Marco provides us with all of the parameters for the EA, and if you access his Dark Hole blog post, you can download 5 different settings files at the bottom of the page. The parameters include money management, time settings, break even, trailing stop, indicators and strategy settings. In analyzing the parameters, it’s quite clear that the trader can play a large role in shaping the way that the robot approaches the marketplace. Traders can enable and disable many different indicators, which will surely change the way that the EA performs. This means that you can modify the software to make it suit your needs, but generally systems with this high level of customization requires an expert to maneuver properly.
- Type: Forex Robot
- Price: $390
- Strategy: Scalping/Intraday
- Timeframe: M1
- Pairs: EURUSD, GBPUSD, EURJPY, USDJPY.
- Minimum Deposit: $50
Going for $390, the Dark Hole EA is positioning itself as a premium service, with one of the higher prices I’ve come across in recent years. Generally, scalping systems are around the $200 range and below, but this software does have quite a few different parameters, so they are definitely charging the market extra for the added capabilities.
Marco gives us specific recommendations for time frames and pairs, but does want the community to be aware that the software is compatible with every pair and timeframe. So, he doesn’t want to rule out the possibility of other options, but his own testing has been limited to the recommendations is provided us with.
There are currently 17 reviews available for the Dark Hole robot, with 14 of them being positive, and 3 being negative. This makes for a current rating of 4 out of 5 stars. Here are a few of the most recent reviews:
In terms of trading results, Marco provides us with many back tests and some strategy tester report screenshots. This really doesn’t interest me that much, because back testing has proven to be less and less reliable over the years in determining which is the best Forex robot.
In doing my own research, I found Marco’s Myfxbook account where he is currently running the Dark Hole EA on two trading accounts. I’m not sure why these trading accounts aren’t being marketed or provided to the community by Marco himself, but it’s likely because they are both relatively new. The original account was started a month ago, and the 2nd account has been running for about a week now. Both are showing small gains of 4-6% overall, with drawdowns between 1-4%.
Both of the accounts looks stable, but we are looking at a very small sample size, so it’s too early to tell.
While I obviously don’t think that the Dark Hole EA is named properly, I do see some positive aspects to the system. While it may take some experience to utilize, the system comes with a ton of different features which gives traders the opportunity to shape the strategy to fit their personal trading styles. As for my recommendation, at this point I just want to follow along with their Myfxbook accounts, and see how they trade over the next few months before I make any decisions.
If you have anything you would like to add to the review, please leave your questions and remarks below the article now.