Today I’m reviewing a new Forex robot that is built to take advantage of a steady breakdown pattern that monitors the current channel, Fix Up EA. This trading software is being sold on the MQL5 marketplace, and comes with multiple different settings files for traders to test and utilize.
The developer of the software is new to the marketplace, as this is Alena Frolova’s first project on MQL5. Located in Russia, Alena first published this Forex robot on August 20th, 2018, and last updated it on September 13th, 2018, to version 1.3. In order to get in touch with support, traders can leave a comment on the sales page, or directly message Alena via her MQL5 profile.
Fix Up Robot Review
The Fix Up EA is built around the concept of spectral analysis, where the strategy is “successfully developed over a period of 20 years.” Like any other robot, it has a built-in mechanism for calculating profits, a virtual stop loss, and take profit. In terms of the strategy, we are just told that the software “is based on a steady breakdown pattern of the current channel.” Despite my history in the Forex markets, I really don’t understand what she’s trying to get across with this message.
What we do know, is that the software works on the 30 minute timeframe, trading multiple pairs, all without any scalping, martingale or grid strategies. So, we know what the software isn’t, we just don’t know what the software is. Which is certainly a strange way of doing business.
There are 12 parameters in total with the expert advisor, which include the take profit, stop loss, lot size, risk level and trailing stop settings. There are no parameters for adjusting the strategy, so don’t expect to modify the robot to meet your specific trading style. This is generally the case when it comes to automated trading, as you can see in my recent reviews of AI Generate Trading System, R747 Breakout EA, and Dark Hole EA.
- Type: Forex Robot
- Price: $250
- Strategy: Unclear
- Timeframe: M30
- Pairs: EURUSD, EURGBP, AUDUSD, NZDUSD, USDCAD, USDCHF
Currently being sold for $250, the Fix Up robot can be rented for single month and $50, over 3 months at $125. Traders also have the opportunity to download the software on demo for free, to test the system before they consider purchasing a live license. It’s my recommendation the traders test the software on demo for a few months, and that potentially rent the software for single month before purchasing a full license.
Considering this EA still relatively new, we want to be as cautious as possible with how we decide to approach it in the end.
Sadly, the trading results are incomplete. The Fix Up EA development team provides us with very long back tests, but no real trading data. There are no Myfxbook accounts, so we essentially have to trust in old strategy tests, but this doesn’t work for me.
It’s my main recommendation, that Alena should start running trading accounts, to prove to us that the robot works. If the vendor can’t provide their own trading statements, it’s hard for me to trust that the system works properly.
This makes utilizing the free demo increasingly important, if you are still interested in the service.
There are currently 6 reviews of the Fix Up product, totaling a 4/5 star rating, with the most of the reviews being positive.
The only negative review provided, is from a client that claims that the software is still an unfinished product, and should not be released to the public yet.
Here are the 2 most recent reviews (click to zoom):
Considering the product just hit the market a few months ago, I’m still undecided on how to approach the Fix Up EA. With very little in terms of strategic guidance, or trading results, I don’t have a lot of interest in the software. Yet, with a free demo account available, if you want to test it, I’m not going to tell you not to.
If you decide to use the software, or you’re already a client, please leave a comment with your experiences or thoughts.
I ran multiple backtests on many pairs. Only one pair was able to survive the 10y backtest, while the others only did well during the last 2 years. It would be my assumption that this is the result of over optimization or curve fitting. I agree, any vendor should be able to prove their claims with a live test.