Forex Growth Bot is a new EA that I particularly like. The strategy is based on an algorithm calculating the volatility of the pair in two periods (a fast and a small one).
Forex Growth Bot trades the EURUSD on the 15M timeframe. The user can set the initial lot size (by default 0.05 lots). It also uses a safe compounding strategy that automatically increases the lot size, based on the gains.
One of the most interesting things is the trailing procedure that is implemented in the EA. This trailing procedure let the EA ride the trend very nicely. The strategy is called “Wave Stops”. It is little complicated to explain. It works by trailing the profits using Elliott Wave theory. It trails by checking the equity levels and its retracements.
You can go more in depth about the wave stops trailing strategy by reading the article on “Stock&Commodities” 09/09 magazine written by the author of the EA, Eugune Labunsky.
You can read the article here:
Perfomances are really good and the draw down is very low. It it trading live only since 3 months now but it’s a real live account and verified through the broker and myfxbook.
You can see it live trading by following the:
- Download and install the Meta Trader platform from the ThinkForex broker: Click Here
- Once you installed, run it and click File -> Login
- Enter username: 1151607 and password: eug321
- Then choose Server: ThinkForex-Live and click Login.
or from the myfxbook account here:
Actually the perfomance is +400% gain after two months of trading. Most of the gain has been made with the first trades but it has made more than 2300 pips only on EURUSD with an average gain of more than 100 pips per gain (the average loss is around 25 pips). The percent of profitable trades is 55%. So the gain/loss ratio (taking into account the % of profitable trade and the amount of average gain/average loss) is 4.88. The Profit factor of the live account is an incredible 8.49 but this is mainly due by the gain of the initial trades.
My backtests using tick by tick data, confirm the very good performances. I’ll publish them soon in a dedicated page.
I had the chance to chat with the developers and they are real automatic traders very skilled and with a lot of knowledge. I’ve been impressed by them and I assure that is not something that happens often So much that we’ll try to do something together in the future.
[note class=”info”]Pricing Information
- Forex Growth Bot Basic Edition – $70
There are a few additional things you can buy:
- Forex Growth Bot Advanced Edition – $59
- Forex Growth Bot Power Source Edition – $70
- Forex Growth Bot Advanced Support & Optimization – $49 per month
They are not real upsells as you can decide to buy them whenever you want directly from the members section.
Personally I suggest you to buy the Basic Edition + the Advanced if you want to have full access to all the options OR the Power Source if you also want to have some code to customize the EA. The core of the strategy is in the DLL but the code can tweak it like I’ve done.
I’ll send my settings and my code to those who’ll buy the Advanced or Power Source versions from the following link: