Forex Avatar Expert Advisor Product Details
Product: Forex Avatar
Price: $99.00
What You Receive: Forex Avatar Installer, installation manual, updates, support (email and Skype)
Pairs: EURUSD, GBPUSD
Timeframe: 5 minutes
Guarantee: 30 day money back guarantee
What’s Behind The Forex Avatar Robot?
The strategies used by EA seem to come in batches. With a lot of scalping systems coming onto the market recently it now seems that more and more trend following systems have now started to emerge.
Forex Avatar is described by the vendor as being a’ non-Martingale, non-grid based’ Forex trading system. It is certainly no scalper and instead looks to book a decent profit from each trade. The entry for the trades taken is not clear but it certainly looks to be based upon some analysis of the lower time frame trends. In fact it is quite difficult to determine too much about the way in which this strategy trades at all. It is very much a ‘black box’ based system with settings that can be altered, save from the ability to enable/ disable trading on Fridays.
One thing to note however is that the settings contain the ability to set up to 9 different magic numbers. If you have not come across these before, these are designed to allow a unique identifier to be assigned to open positions for specific trade management by MetaTrader. This suggests that the system has the potential to have multiple orders open at any one time, a fact backed up by closer inspection of the Strategy Tester results.
How to Use Forex Avatar
The Forex Avatar Expert Advisor comes with a installer which is a simple click through affair. This actually installs two EA’s in your MetaTrader terminal; one for the GPB/USD and one for the EUR/USD currency pair.
These need to be loaded on the respective charts on a 5 minute time frame. Other than this there is very little else to do in order to set the EAs to work. You will of course need to unlock the Expert Advisors. This is done by sending across your MetaTrader account number to the support address provided. You will then receive an unlock code to enter which will activate both EAs.
Full instructions on how to use this Forex robot are supplied in a PDF manual. As well as taking you through the setup process it also contains the usual recommendations of brokers and VPS services to use. A good FAQ section is also provided which can help if you have any problems in getting the system up and running.
Back Testing Forex Avatar
Tests were carried out with Alpari UK data on supplied default settings (spread 5 pips) and were run with fixed lots. A money management option is also available in the EA which will let you trade with a specific percentage of your account.
You can drill into a full breakdown of each test report by simply clicking on the required chart below.
EURUSD 2011
EURUSD 2010
EURUSD 2005-2010
GBPUSD 2011
GBPUSD 2010
GBP 2005-2010
Forex Avatar Verdict
Over the longer term, performance for both pairs looks impressive. It is however clear that with more recent performance GBPUSD has proved somewhat more volatile than its counterpart with recent draw down hitting nearly 20% in 2011 to date, compared with around 10% on the EURUSD. 2010 shows a similar story with the EURUSD providing a steady growth curve with a lower level of draw down and volatility.
It is however interesting to note that over the longer 5 year test, performance on the GBPUSD pair significantly outstrips the EURUSD.
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