Todays’ robot to review is Forex Truck. It has a thematic presentation.
It’s because many goods are delivered from the US to Canada and back via trucks.
We’re suggested to get the best robot that provides reliable profits trading USD/CAD.
Forex Truck has many features. Let’s group them up:
- It’s a fully automated robot.
- The robot is compatible with any broker house.
- It can be run not only on the Metatrader 4 but MT5 as well.
- We’ll receive both versions of the EA.
- The EA can open several trades one by one. It works only with fixed Lot Size.
- The money-management system sets SL and TP levels, and, maybe, Trailing Stop Loss to close trades with profits.
- It doesn’t like to sit in big drawdowns.
- There’s smart hedging that allows opening a recovering trade if a loss happens.
That’s all we know about its features from the presentation.
How to start trading with Forex Truck
We have to do common steps:
- We have to buy an EA.
- We have to wait to receive the EA.
- We have to open an account with any broker we want.
- We have to fund it for the minimum required money.
- We have to download, install, and attach the EA to the USD/CAD chart.
- We may trade on the demo or real account.
The developers provided two backtests of USD/CAD: aggressive and standard ones.
It’s an aggressive backtest. It was performed on the H1 time frame for six years from 2014 to the middle of 2020. The modeling quality was 90%. There was an initial deposit of $1000. The total net profit was $11.7M. The Profit Factor was 1.86. The maximum drawdown was quite high and equaled 35.65%. The average win streak (2) equals to lose one (2).
Real Account Trading Results of Forex Truck
We’ve got a real USD account on FXOpen with Track Record Verified. The robot trades without leverage, using Technical indicators on MT4. The account was created at the start of the year (January 16). Since then, it has grown to +255.34% of the absolute gain. It’s a brilliant result. An average monthly gain is 13.93%, with medium maximum drawdowns (23.08%). A start deposit was $2000. The account’s tracked by 29 traders.
It trades so smoothly and predictably.
Forex Truck has traded 196 deals with 1570 pips (it’s very solid). An average win equals 47.48 pips and an average loss -50.43 pips. The win-rate is between 56% for Shorts and 62% for Longs. An average trade length of 2 days says that the EA is a swing-trader. The Profit Factor is higher than on the backtest (2.21), and it’s quite rare to see.
It trades all day long, focusing on the market openings.
The weekly chart tells us nothing special.
The EA works with up to 10% risks to the account balance.
Forex Truck is a quite successful EA of using hedging plus martingale strategies.
All months were profitable in 2020.
The robot still has no profile on the Forex Peace Army and TrustPilot. There are only reviews on sites with average rates like from 4 to 7 on the 10-degree scale.
For $277, we’ll receive a one-lifetime license for any real account. We can change the real account number as many times as we want. We’ll receive the EA for MT4 and MT5. We’ll get a detailed user manual, and we can rely on the support and maybe free updates.
Is Forex Truck a viable option?
The robot trades well, but it’s too young to say anything for sure. To make the right decision, we have to look at it for at least several months more.
Forex Truck can be profitable trading USD/CAD. It’s true, but there are several “buts.” First, it’s a mix of grid and martingale. Few EAs can handle them well. Second, we don’t know anything about settings and features like News Filter, Broker Protection. Without News Filter, any news can blow half of the account at the moment when a grid+martingale trade is placed. There’s no money-back-guarantee, so the deal is final.