Although it seems to be producing good results in forward testing, please be careful as it is a high-risk EA that holds positions for a very long time.
FX PRO Silver Robot EA [Official Page]
| Price | $199 |
| License | 1 real account & 1 demo account per license |
| Currency pair | ? |
| Terminal | MT4 |
Live performance (forward test results) of FX PRO Silver Robot
It has a very nice profit curve.
The drawdown is also very small.
Looking at this result, you might think that this is a very nice EA. But you need to be careful.
The results of the forward test of FX PRO Silver Robot EA are published on FXBlue.
FXBlue does not accurately reflect the results of equity drawdowns. If a large equity drawdown occurs, it may not be reflected in the results.
FX PRO Silver Robot EA is an EA with a high risk of large equity drawdowns, so it is better not to trust the vendor’s forward test results.
This is also the case with FOREX GUMP EA, a relatively well-known grid EA.
Trading strategy of FX PRO Silver Robot EA
FX PRO Silver Robot EA is a grid trading EA.
If the price moves against the direction of the initial position, open additional positions and continue waiting until the series of total positions becomes profitable.
In the MT4 trading history chart below, you can see how this EA is doing grid trading.
■AUDUSD 15 minutes Chart White=Buy entry Red=Sell entry
Trade with multiple logics
A typical grid trading EA will not make any other trades until a series of positions in the same direction are profitable and closed.
However, FX PRO Silver Robot EA may close positions at different times while executing grid trades. It may also trade in a different direction.
In the MT4 trading history chart below, you can see how this EA executes grid trades while executing other trades.
■AUDUSD 4 hours Chart White=Buy entry Red=Sell entry
Do not execute martingale trades
There are many EAs that combine grid trading and martingale method.
On the other hand, FX PRO Silver Robot EA does not use the martingale method.
Additional entries will not increase the lot size. Also, the lot size does not increase after a loss.
However, there are also disadvantages to not using the martingale method. That is, it cannot profit from small price reversals.
An EA that combines grid trading and martingale increases the lot size every time the price moves against the direction of the position. Therefore it can profit from small rebounds in price.
On the other hand, grid trading that does not use the martingale method cannot make a profit unless the price reverses significantly. Therefore, the EA has to hold positions for a very long time.
The MT4 trading history chart below shows that this EA holds positions for a very long time.
Three short positions opened in November 2023 were closed in April 2024.
The position has been held for about 5 months.
■AUDUSD 4 hours Chart White=Buy entry Red=Sell entry
In the example chart screen above, the EA ultimately made a profit because the price returned to the level at which it opened three short positions.
However, if the price continues to rise, the account will experience a large equity drawdown.
If the equity drawdown becomes too large, a stopout will occur and the trade will be forced to terminate.
The weakness of FX PRO Silver Robot EA is that it causes large equity drawdowns.
However, FXBlue’s forward test results do not accurately display equity drawdowns.
Backtest results of FX PRO Silver Robot EA
| Test start | 2018/1/2～ |
| Test end | 2021/03/30 |
| Operation period | 38months |
| Initial deposit | 200 |
| Operational lot size | Adjusted by balance |
| Final balance | 1,296,225 |
| Total net profit | 1,296,025 |
| Rate of return (overall) | 648112.5% |
| Monthly rate of return (compound interest) | 26.0% |
| Monthly rate of return (simple interest) | – |
| Relative drawdown | 20.7% |
| Maximum drawdown (amount) | 164,428 |
| Profit factor | 21.32 |
| Winning rate | 92.8% |
| Total trades | 513 |
The backtest results of FX PRO Silver Robot EA have only been conducted for about 3 years.
The number of trades is also very small at 513.
This backtest is not reliable.
Vendor of FX PRO Silver Robot EA
The vendor FX PRO ROBOT.COM sells FX PRO Gold Robot etc., but the trading method is the same as FX PRO Silver Robot EA and is high risk.
Conclusion of FX PRO Silver Robot EA
Although the forward test results of FX PRO Silver Robot EA look very nice, this result is not accurate.
Forward test results do not reflect equity drawdown correctly.
The trades executed by FX PRO Silver Robot EA do not have individual stop losses set for each position.
Hold multiple positions and hold them until they become profitable.
Therefore, when a major trend occurs, there will be a very large equity drawdown.
In fact, this EA has held positions for a very long time, resulting in large drawdowns.
Even though the risk of this EA is equity drawdown, the equity drawdown is not reflected in the forward test.
Users should be aware of this fact before purchasing and using this EA.
