The FX Steady Growth robot provides a simple trend following strategy which is said to have been developed in response to the unrealistic claims of many Forex robots.
The small team behind the EA have aimed to make a safe and reliable trading robot.
It is noted that the strategy does not make use of martingale type strategies or large stop losses in order to produce the ‘steady growth’ that it champions in its name.
|Where To Buy:||NO LONGER AVAILABLE|
|Time frame||4 hour|
|What You Receive:||Installer, manual, email support|
|Guarantee:||60 Day Money Back|
Martin Tesarik from the Czech Republic together with his partner Stepan Skorpil are the names behind the FX Steady winner robot.
Their website dismisses the claims of other robot vendors that claim to be able to make you a millionaire overnight and instead propose a strategy which can deliver you steady long term gains.
On the site is mentions that the system targets a 50-80% profit per year which seems both realistic and a good return from a $98 dollar investment in the EA.
The FX Steady Growth strategy is a trend following strategy which works off of the 4 hour chart timeframe. It is only set to trade on the EURUSD but the EA is not locked to this pair so you could make use of the strategy on other Forex pairs.
Setup is straightforwarded just requiring the FX Steady Growth ex4 file to be dropped into the Expert Advisors folder on MetaTrader.
A nice touch is the inclusion of a set of a ‘Best settings’ manual. This includes the optimized settings for a range of popular brokers including Alpari, FX Pro, X-Tradebrokers, Forex.com, IBFX and Tadawul FX.
No live accounts are provided on the website but a backtest from 2008 is available which shows an impressive level of performance.
The backtests were run on Alpari UK history data with the suggested Alpari settings and money management set to ‘true’.
From running the 2005-2010 backtest it becomes clear as to why the test results on the vendors website start from 2008.
In 2007 (coinciding with the Credit crunch?) a significant level of draw down was built up on the account, at one point reaching nearly 50%. This is somewhat at odds with the claims made of the strategy offering low drawdown.
However to be fair to the system it has made a fairly significant recovery since this point. I am always a great believer in the market cycle theory of what works today may not work tomorrow. The reverse of this is also true.
So while the strategy may have gone through a rough patch if it continues generating the results it has made over the last couple of years then it is certainly worthy of consideration.
The performance plateaus seen across 2011 (although it did finish profitable) suggests the need for favourable trends to be in place for this EA to operate at its best.
If part of your success in profiting from Forex robots is down to selecting the strategies to exploit the current dynamics, as I believe then the FX Steady Growth expert advisor provides a good example.
It has shown good medium term performance and its strategy should be well accommodated by brokers due to its lack of requirement for the best spread.
NO LONGER AVAILABLE
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