The Skilled Trader is another automated Forex system produced by the LeapFX group. This time, they believe that they’ve put together a software that’s capable of doubling or tripling an account “every few months with ridiculously low risk.” Today, we will be providing a full review and letting you know if the software is meeting the expectations that they’ve set.
The LeapFX team is a well-known Forex development group. In recent years they have spent a lot of time acquiring systems from other developers and re-selling them. It is unclear if that’s what they’ve done in this case, because they don’t make mention of the specific creator of the system. It is worth noting that if you can find the original system, if this is a re-brand, then you can likely get it at a better price. The most recent products released by the LeapFX team include InstantEA, Jet Trader and News Action Trader.
To get in touch with support, traders can email firstname.lastname@example.org.
The Skilled Trader Review
The creators of The Skilled Trader want to help average clients understand what successful Forex trading looks like. To them, there are five aspects which make an amazing automated trading robot. We don’t agree with all of them, but here are they are:
- No scalping (we disagree)
- No broker sensitivities
- Low account risk
- Auto updating software
- $100 minimum deposit
Most of these aspects are important, but we do disagree when it comes to the scalping, as many of the best Forex robots that we use take advantage of scalping principles.
There are three main principles or secrets that The Skilled Trader robot is built on. Firstly, they believe in following the big money. This means that they monitor, banks, large funds, and countries to see how they are approaching the markets. Then, they rely on pullbacks and reversals based on this information. Secondly, the strategy is built around risk management. Here they feel that choosing a reasonable lot size is incredibly important. This way if there if “a sudden change occurs in the market, then adjusting and adapting to that change in order to remain profitable.” Lastly, they feel market adaptability is of the utmost importance. This means that the robot needs to understand the relevant news cycle, in order to adjust to current market conditions. They feel if a robot can’t adapt in this way, then it will always fail. The system’s “use of managing risk and its ability to detect and adapt to these market changes, make it a powerful force of low risk profit.”
While we appreciate the strategy aspects provided, it doesn’t really get into the real in-depth methodology.
- Type: Forex Robot
- Price: $899
- Strategy: Undisclosed
- Timeframe: Undisclosed
- Pairs: EURUSD, GBPUSD, XAUUSD
For traders interested in The Skilled Trader EA, it is being sold for $247 for 3 months, $497 for a year, or $899 for lifetime access. This price point is very high, and significantly higher than the current top rated robots in the market.
The Skilled Trader EA team provide a single live Myfxbook account with the FXChoice brokerage. This account is showing a gain of 106% with a drawdown of 6%. It’s been trading since October 16th, 2019, and placed 420 trades during that span. The average trade length is 1 day, with the average win coming in at 17 pips, and the average loss at 230 pips.
While they claim to despise scalping, their risk reward ratio is much in line with a scalping approach. As, they have small wins and very big losses. In fact, they have had 3 losses over 2000 pips over just the last few days. Losses of this magnitude would destroy most accounts, but they most have some sort of lot size management that keeps all the trades risking very little.
For the most part, we like what we see from these trading results, but we would like to see the lot size, and have a bit more information out the TP/SL being utilized. That being said, the software does appear to be handling the pandemic quite well.
Considering the high price, we aren’t ready to jump on board with The Skilled Trader just yet. We appreciate their live results, but would like to know more specific details about their strategy, and see some real client accounts too.
If you have anything you would like to contribute to the review, please leave your comments now.
The Skilled Trader $899
The Skilled Trader is a Forex robot that uses a pullback and reversal trading strategy.
Hands on support
Money back guarantee
Little strategy insight