Mount Average EA is a MT4 Forex robot built with a long-term trading approach, designed for trading the EURUSD pair on the M15 timeframe. As the name suggests, the software uses the moving average indicator as the foundation block for their trading strategy. Without this indicator, the robot wouldn’t exist.
The developer of the expert advisor is Jannik Dippon, located in Germany. This is his only product on the MQL5 market, and it was first published on August 21st, 2018. Since, the system has been updated multiple times, with the most recent update coming on December 18th, 2018 to version 1.4. In order to get in touch with support, traders can direct message Jannik on his MQL5 profile. There doesn’t seem to be an email address anywhere on the page for direct contact.
Mount Average EA Review
As is often the case with MQL5 market products, the Mount Average EA only gives a very brief explanation about their Forex robot. Obviously we know that the system is moving average based, but outside of the assertions that the system doesn’t use any martingale, grid or hedging strategies, there isn’t much insight. I would be very interested in knowing what types of market conditions this moving average based expert advisor looks for when dealing with entries and exits.
Considering the product is being sold for $540, it’s hard to fathom spending such a large amount of money on a product that isn’t really explained. This is common in the Forex market as we’ve seen in recent reviews of Inrex EA and other MQL5 products. Yet, that’s not really an excuse, because the vendors in this marketplace are still competing with the rest of the Forex market. While, it may be a common approach, they are only doing themselves and their potential clients of this service in not providing a true vision of their trading methodology.
We frequently repeat ourselves in these reviews, but it’s an important issue and hopefully the developers will realize that at some point in time and make the necessary adjustments.
- Type: Forex Robot
- Price: $540
- Strategy: Moving Average
- Timeframe: M15
- Pairs: EURUSD
The Mount Average EA is at the higher range in terms of price point when it comes to the Forex robot marketplace. Traders who are interested in the software do have the ability to tested on demo for free before purchasing, which is certainly a must in this scenario. I recommend testing the system on a demo account for it least 4 months before considering purchasing a license at its current price point of $540.
With many of the best Forex robots being sold for in the $100-$250 range, it’s hard to imagine spending over $500 for something that isn’t as proven as the competition.
There are no Myfxbook accounts, but the vendor does provide a single MQL5 signal account which shows the current performance of the Mount Average EA. This account is showing a growth of 67%, since it was launched 21 weeks ago. The initial deposit was €200, and there has been an overall profit of €133.
Other important numbers are the winning percentage, which sits at 63%, and the maximum drawdown which is quite high at 49.3%. This means that at one point during the 21 week period, the robot had nearly half of its entire trading account at risk. From this we can surmise that the software will hold trades open for extended periods of time, letting them go deep into the negative, in hopes that they will return again. Some believe that this method is playing with fire, because a crash flash could essentially blow up an account that stays in the market too long under such conditions.
It’s worth noting that the vendor has proven that the software can make €133, which is approximately $152. I take issue with this, because the vendor is charging $540 for a system that he’s only been able to prove can earn $152. If that’s not the definition of over charging or overpriced, you’ll have to point me in the direction of what is.
Normally, we would provide a client feedback section, but with only one client review available, I feel that the sample size for the Mount Average EA feedback is still too small to report on. While the EA is drawing some interest from our Forex Robot Nation team, it’s not something we are ready to recommend at this point in time. We feel that the software is overpriced, that the results are still underwhelming and that the developer did a poor job at explaining the strategic processes that make the expert advisor a viable long-term strategy.
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