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Robot Review: EA Black Star

Today I’m looking at an affordable expert advisor that’s been growing in popularity on the MQL5 marketplace, EA Black Star. This software has 2 versions, the original and the premium. The price differential between the 2 is only $10, and I’ll be taking a look at both of the systems in this detailed review.

The creator of the software is Ramil Minniakhmetov, an MQL coder that is put together a collection of expert advisors, and indicators over the past couple of years. He is the owner of OrangeForex, and can be contacted via Skype at Mechanic Forex, or sent a private message via his MQL5 profile, https://www.mql5.com/en/users/mechanic.

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EA Black Star Review

The main strategy for the EA Black Star, is based on consolidation zones. When the market price leaves the zone, the EA will open positions and hedge those positions if take profit isn’t reached in a short amount of time. This is the strategy for both versions, but the premium version comes with 3 modes. On top of this original strategy, there is also a recovery mode which lets the trader place the first order before enacting the original strategy. The 3rd mode is a grid strategy which again lets the trader open a position and then the EA “builds up a grid for exiting the position.”

So, to explain this in plain English. The original version does all of the trading for the trader, including the entries. The premium version gives traders the opportunity to place the trade, and then allow the robot to take over from there. This is a unique approach to automated trading, and I do believe that this would be a very strong method for traders that are willing to work alongside and grow with the expert advisor.

Breakdown

  • Type: Forex Robot
  • Price: $35-45 per license
  • Strategy: Consolidation zones
  • Timeframe: M15
  • Pairs: EURUSD, GBPUSD, USDCAD, USDJPY

I the first thing I noticed about the EA Black Star, is how affordable that it is. Historically, most of the systems that I review on the MQL5 marketplace tend to be overpriced. In this case, the regular version is going for $35, and the premium version is going for $45. There don’t seem to be any additional fees or upsell’s, so you are getting access for a marginal fee.

When systems don’t have long-term trading results, I believe that this is the approach that they should be taking.

Trading Results

As is frequently the case with products on the MQL5 marketplace, the real results for the EA Black Star are lackluster. Both the original and premium versions of the robot provide us with backtests, and only backtests. As you probably know by now, I prefer statement sharing websites like Myfxbook or FXStat.

Backtesting data is hardly reliable in 2017, and in this case the sample size for both of these back tests is very small. In fact, the premium version back test only goes from January 1st of 2017, to March 30th of 2017. Not only is a three-month sample size not close to large enough, but it also begs the question, why have these back tests not been increased? The robot is being sold to traders on a daily basis, and the developer is answering questions but Ramil is not updating the results.

At the very least, these back tests should be updated to within the last few months.

User Feedback

It’s difficult for me to get a full read on the EA Black Star feedback because a lot of it is in Russian. A fair majority of the conversation in the comments section is in Russian as well. That being said, the majority of the reviews give these systems a 5 star rating.

One of the reviews points out that many of the five-star comments provided are because the expert was made free on the first day. He believes that this is a trick to move an expert advisor to the top of the expert advisor page on MQL5.

All provide you with some of the positive and negative reviews.

Conclusion

At its current price point, it’s very easy to test the EA Black Star original or premium versions without much risk. There is also the ability to test the system on demo before purchasing a live license. I’m still on the fence with what I want to do, because I find that while all the Russian comments or 5 stars, the English comments are frequently giving the system only 1 star.

Please let me know what you think about this system, by leaving your comments and questions below the article now.

About Patrick Ryan

Patrick is a Forex enthusiast, with over 10 years of experience in finance, and market analysis. He's eager to help traders achieve their investment goals, whether they are short or long-term. Patrick's penned thousands of reviews, and is always available to discuss trading with anyone who's interested.

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