EA Black Dragon is an FX Robot that uses the Black Dragon indicator. As per the developer, it works based on the color of the indicator and increases the orders or optimizes the SL positions accordingly. Ramil Minniakhmetov, based in Russia, is the developer of this FX EA. He has more than seven years of experience in developing FX trading tools. He has created 10 products and 5 signals. To contact the developer a Telegram channel link and the messaging option on the MQL5 site are present.
Features
The developer does not provide much info on the EA and its features. As per the info present on the MQL5 site, this FX Robot works on the EURUSD and GBPUSD pairs and uses the M15 timeframe. Input values are provided that include the lot size, maximum lot, TP, SL, magic number, and more. Other than the mention of the indicator, the developer does not divulge info on the approach used.
How to start trading with EA Black Dragon
This FX EA costs $99. A rental option is present that costs $45. The developer provides a free demo account. No info is present regarding the features available with the package. There is no refund offer present for the package which makes us suspect the reliability of the product. When compared to the price of other competitor systems, the price of this trading tool is affordable.
Recommendations for the system include a deposit of $1000 or 1000 cents. The developer does not provide info on the settings, leverage, and other info. The absence of info makes us suspect this is not a reliable trading tool.
Backtests
A few backtests are present on the official site. Shown above is one of the backtesting reports. As per the report, the backtesting was done in the EURUSD pair and the timeframe of M15 from 2010 up to 2020. For an initial deposit of $1000, a profit of $117055 was generated for a total of 3209 trades. The profit factor value for the test was 1.55 and the maximum drawdown was 63.56%. We find the drawdown is very high indicating a risky approach was used.
Trading results of EA Black Dragon
A live signal is present for the account on the MQL5 site. The account uses the Weltrade broker and the leverage of 1:500. Here is a screenshot of the trading stats.
From the above stats, we can see a growth percentage of 333.20% for an initial deposit of $1000. A profitability of 92.6% is present for the account. Since the account has passed only one trading day having started on November 23, 2021, the drawdown is 0%. A total of 27 trades have been completed and the profit factor is 27767.75.
As the sample size is very small, the high growth indicates a risky approach. Further, the results cannot be taken into account due to the account being newly started. Additionally, the high growth percentage denotes the EA poses a high risk. Comparing the results with the backtesting is also not possible due to the small sample size.
Customer reviews
We found 54 customer reviews for this FX EA on the MQL5 site with a rating of 4.98/5. Since the site promotes the product, there is a high chance of the reviews being manipulated. We prefer reviews from reputed third-party sites like Forexpeacearmy, Trustpilot, etc. These sites offer unbiased insight into crucial factors like performance, support, and more. The absence of reviews indicates this is not a popular product.
Is EA Black Dragon a viable option?
After evaluating the various characteristics of this MT4 tool, we find that the ATS has many downsides and very few benefits. Here are the main advantages and disadvantages we found in this FX robot.
Advantages
- Fully automated software
- Price is affordable
Disadvantages
- The strategy used is not divulged
- Small sample size
- Backtesting results show a risky approach
EA Black Dragon uses its proprietary indicator for effective trading. From our analysis, we find that the ATS is not trustworthy. To begin with, the developer does not divulge the strategy used. He provides a vague explanation for the use of the indicator. From the backtesting result, we find the drawdown is very high indicating a risky approach. Although a live trading result is present, it is too small to be considered for assessing the performance. In short, we find this is not a trustworthy FX robot.
