We’ve prepared a review of a Leprechaun robot. It was designed by Aleksei Zaitsev and published on September 1, 2020. The last update to the 3.6 version was on September 23, 2020.
Features
The robot has many features:
- Leprechaun performs a Grid strategy in the trend direction.
- If the trend direction changes, it “reverses the balance of trading positions in the trend direction and closes the whole grid of orders is a plus.”
- The system opens a Grid of many orders at the start of the American session.
- It’s going to close these deals in several hours.
- It uses a Martingale strategy for recovering the account balance after losses.
- The EA can trade during high-volatility periods.
- It works well during high-impact news periods on the American trading session.
- The robot doesn’t use indicators from MT4 to perform.
- It opens deals at the price moving direction.
- The EA can be run on any currency pair.
- The robot has trouble with trading during flat market periods.
- The main currency pair to work with is Gold.
- It works only on the H1 time frame.
- The minimum deposit requirements are $100 for trading a single currency pair with a 0.01 Lot Size.
- The EA is a broker-free trading solution.
- The system isn’t sensitive to spreads.
How to start trading with Leprechaun
To get started we have to do the next steps:
- We have to purchase a product.
- We have to download it using a link in an email.
- We have to copy-paste the EA in the proper MT4 folder.
- We have to restart the terminal.
- We have to attach the robot, setting all settings.
The robot costs $49 for a copy. We can rent it for $20 monthly. There’s a free demo download, so we can check settings on the MT4 platform. The vendor doesn’t provide a money-back guarantee.
Backtests
It’s a screenshot of the backtest from MT4. The chart looks insane. The robot has traded XAU/USD on the M5 time frame for three months. The spreads were 50 pips. The initial deposit was $10000. The total net profit has become $5787.36. The Profit Factor was dangerously low (1.05). The EA traded 388 deals. The maximum drawdown was 49.65%. The win-rate for Shorts was only (38.55%) and 81.34% for Longs.
Verified Trading Results of Leprechaun
Leprechaun runs a real USD account on WELTRADE automatically using technical indicators from MT4. The leverage was set at 1:500. The account has a verified track record. It was created on October 12, 2020, and deposited at $15000. Since then, the absolute gain has become +170.25%. An average monthly gain is +38.14%. The maximum drawdown is 79.79%. It’s an insane level.
The robot closed 878 deals with 39452 pips. An average win is 1318 pips when an average loss is twice higher -2631 pips. The win-rate is 70% for Longs and 64% for Shorts. An average trade length is two days. The Profit Factor is 1.24.
The robot got all profits from trading the Long direction – $58526.
It focuses on opening trades during the beginning of the American trading session.
Most traded days are Tuesday (241) and Monday (216 deals).
The robot runs the account with a high risk to the account balance. There’s a 76.42% chance to lose 10% of the account balance.
As we can see, the robot increases Lot Size 50 times.
Now, the robot is profitable, but it’s only a matter of time when everything falls.
People feedback
There is much positive feedback from Russian-speaking users.
Evgenii Bazenko noticed that insane Martingale would blow an account sooner or later.
This comment was published in a Telegram channel. As we can see, not everyone is profitable with it.
Other notes
The developer’s profile has only one product on the board. There are a 465 rate and five friends.
Is Leprechaun a viable option?
We don’t think so. It’s so risky, according to trading results.
Conclusion
Leprechaun is a robot based on the conservative Grid and insane Martingale. It’s the first robot we’ve seen for years that uses 50 times increasing Lot Sizes. The developer’s real account could handle it because of the $15000 deposit, having sat in a huge drawdown, but an account of an average user can’t. We’d like to notice that Gold robots start costing from $1500. The EA that costs $49 couldn’t receive a sophisticated design.
