Bober Lannister is a cross-platform system that is fully automated. It can place only one order at a time and as per the developer does not use dangerous methods like the Martingale strategy. It mainly uses TP and SL for its orders and the risk settings remain undisturbed irrespective of the result of the previous order.
Arnold Bobrinskii is the author of this product promoted on the MQL5 site. As per the developer’s profile, he is from Russia and has more than 8 years of experience in creating FX tools. He has created 4 products and 4 signals. For contact, the developer provides Telegram channel links and you can also get in touch with him via the direct messaging option on the MQL5 site.
Features
As per the developer, the chief characteristics that make this FX EA stand out from its competitors are:
- This FX robot works on multiple currency pairs and the EURCHF, EURNZD, EURAUD, GBPUSD, and CHFJPY are the favorites of the author.
- It is not broker sensitive, so you can use any broker with less spread and commission.
- Three modes are used namely the Portfolio, GBPUSD beast, and the custom setup modes.
- It has user-friendly settings so is easy to install and work on.
- it does not use dangerous methods like Martingale.
- Free live sets are provided for customers.
For the strategy, the developer does explain the process and there is no mention of the approach used. With the portfolio mode, you can run a few currency pairs simultaneously. In the GBPUSD beast setting, you can work only on the GBPUSD pair while the custom mode works based on the settings tab input.
How to start trading with Bober Lannister
To use this FX EA, you have to pay $499. A free demo version is present. We could not find any other info on the product like its features, money-back guarantee, etc. The absence of a refund offer makes us suspect the reliability of the product. When compared to the market average, we find the price is expensive. Further, the developer mentions that the price will increase to $1200 shortly.
For recommendations, the vendor recommends the use of a broker with low commission and spread. The leverage recommended includes 1:30, 1:500, and 1:100. A minimum deposit of $100 is required to start using the system. As per the vendor, the system can overcome high broker commissions.
Backtests
A backtesting report is present on the MQL5 site. Here is a screenshot of the backtesting report:
From the above test report, we can see the EA had generated a total net profit of 1916908 for an initial deposit of 10000. A total of 4953 trades were completed with a profitability of 65% and a profit factor of 1.58. The drawdown was 22.23%. From the results, we can see that the drawdown is more than 20% which shows that there is a potential risk of losing your capital. Further, the profitability and profit factor values indicate an ineffective strategy and performance.
Trading results of Bober Lannister
A live signal result is posted on the MQL5 site for this FX EA. Here is a screenshot of the result:
From the above stats, we can see the real live USD account using the IC MarketsSC broker on the MT5 terminal shows 109.97% growth for an initial deposit of $200. An initial profit of $219.94 is present for a total of 248 trading days. The maximum drawdown is 37.8%. From the results, we can see that a majority of the profits have been achieved within 12 days which accounts for 3.45% trades of the total lifetime of the signal. The high drawdown and low profitability show the approach used is not effective. Comparing the results with the backtesting, we find the drawdown is higher in real trading and the performance is not as seen in the backtesting.
Customer reviews
We found 14 reviews with a rating of 4.57/5 for this FX EA on the MQL5 site. While most of the feedback is positive, one user mentions that this robot is for the ranging market and not for trending conditions. When you use the trend following method, there will be high losses.
Is Bober Lannister a viable option?
Advantages
- Fully automated system
- Uses SL and TP only for the trades
Disadvantages
- No explanation of the strategy
- Pricing is expensive
Summary
Bober Lannister assures an effective cross-platform system. The developer provides backtests and live real trading results. From the trading stats, we can see that the drawdown is high and the profits are not appreciable. Other factors we noticed include the lack of money-back guarantee and expensive pricing of the system.
