Absolute EA uses a no-loss scalping strategy based on reversal patterns without employing any lot multiplication, grid, or martingale. The algorithm is available for MT4 and MT5 platforms with a built-in spread control filter. To judge the product’s performance, we will review it in our article and see if we can profit from it.
Features
The robot has the following features:
- It can trade on multiple currency pairs.
- Traders can use it with a minimum deposit of $200.
- The robot is optimized and well tested.
- The developer provides the complete set of files.
- There is a Telegram channel for contact.
The robot trades using a scalping approach without grid and martingale strategies. It employs the use of price action with SMA and Bollinger Bands to determine the trend’s direction. From the history present on the live records at Myfxbook, we can observe the use of a small take profit with no stop loss. Despite the developer statement of a scalping strategy, we can see that the average trade duration is 20 hours and 48 minutes.
How to start trading with Absolute EA
To get the service up and running, you the following steps:
- Purchase the system from the developer on the MQL 5 marketplace
- Download it on your MT4/5 platform
- Place it on your charts by dragging it
- Enable the auto trading button
Price
The EA is available for an asking price of $195. There is no money-back guarantee. Traders can also rent it for one month at $30. To test the robot, traders can download the demo version from the website.
Verified trading results of Absolute EA
Backtesting results are available for GBPUSD. The relative drawdown was around 24.14%. The winning rate was 99.72%, with a profit factor of about 366.78. All the tests were done on the 30 minutes chart with a starting balance of $3000. The robot tanked an average profit of $21548.89 for this period. There were 351 trades with 702 deals performed. The best trade was $396.55, while the worst one was -$5.88.
Verified trading records are available on Myfxbook. We have a performance from February 25, 2021, till the current date. The system has made an average monthly gain of around 2.38%, with a drawdown of 10.65%. When contrasted with the gains, the drawdown value gives us a poor risk-reward of 5:1.
The winning rate stood at 100%, with an unknown profit factor. The best trade was $7.1, while the worst was -$0 in a total of 89 trades.
Average drawdown
The current drawdown of the system is nominal but gives us a poor risk-reward ratio when we compare it with the gains we get during a month. The drawdown value may increase in the future as trade with no stop loss moves extensively in one direction.
Vendor transparency
Aleksei Ostroborodov is the author of the product. He resides in Russia and has a 5 star rating based on 42 reviews. There are a total of 11 algorithms published by him in the marketplace. According to MQL 5, he has a total experience of 4 years.
Is Absolute EA a viable option?
The robot has the following benefits and demerits.
Advantages
- It does not use Grid and Martingale
Disadvantage
- No detailed backtesting statement
- Live records show a high drawdown
- Low information on the strategy
Conclusion
Absolute EA does not use a stop loss with each trade and has a high drawdown compared with monthly gains. The good thing is traders can rent the EA for 1 month or try a free demo version to test the system before purchase. However, if you decide to buy the robot, make sure you do want it as it will be your final decision and in case of the system’s inefficacy you won’t be able to ask for a refund.
