Forex truck Review

Forex Truck is a smart trading robot that works 100% automatically. The strategy and algorithms used in our EA made it possible to achieve full compatibility with any broker, so there is no need to select a broker with special trading conditions – any broker will do. Moreover, we have made Forex Truck in such a way that it can work with two platforms: MetaTrader 4 and MetaTrader 5. Therefore, by purchasing one license of our robot, you will receive both versions of the EA (MT4 and MT5) at once without any additional payments.

Features

The first block is responsible for opening orders. It finds good entry points and only uses a fixed lot. Sometimes it opens only one order, and sometimes it can open the second one, depending on the signals of the algorithm. One way or another, the first block accompanies each trade and tries to close it in good profit. But if the situation on the Market changes, the EA does everything possible to close trades in a small profit, or even in a small loss, in order to avoid prolonged drawdowns. In most cases, the first block does an excellent job, but if the situation goes beyond the usual for this block, then the second block gets involved.

The second block comes into operation only if the situation for the first one looks difficult to fix, and has already been going on for some time. This block is designed to quickly fix everything and close all trades in total profit. The algorithm of this block resorts to opening additional orders based on the Market situation. These orders could be opened by the EA with a small increase of lot sizes, which will allow to quickly resolve the situation with unsuccessful trades. Moreover, ultimately this allows to get a profit, and not a loss.

In the Forex Truck robot, they have implemented a reliable system for limiting drawdowns, which will ensure the safety of your funds, and in case of failure, will not allow you to lose more than you were ready to. The EA sets StopLoss and also monitors the status of orders in real time so that, if necessary, close them by the Market (forcibly). All this works in accordance with a “risk” value specified in the settings of the EA.

Expert Advisor backtest

Forex truck reviews

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Conclusion for this robot

Forex truck EA is a strategy that runs for quite a while now. It has built a nice track record and it seems a darn good expert advisor. The only thing we might bump into trouble is the reliability of these track recrods. For starters, the back test is done with a 90% tick data and is considered not sufficient. Therefore we cannot say that the test results as shown are valid. Also, the live account is not being updated live. This means that trades are not updated in the myfxbook database. Thus, a broker can remove a trade from their platform and nobody would know. We are not saying that this is the case, but FXOPEN is not a regulated broker and why would a strategy provider use their platform without live updates. Make sure you really understand what this robot does before you purchase it. If you are new to forex robot trading, you can try a free forex robot and see if automated trading is for you.

 5/5

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Risk warning: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particularly trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk. Variables such as the ability to adhere to a particular trading program in spite of trading losses as well as maintaining adequate liquidity are material points which can adversely affect actual real trading results. Currency trading involves high risk and you can lose a lot of money.

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