We’d like you to read a review of the London Breakout robot. This software was designed by Samuel Eurfyl and published on 16 June 2020. The current EA version is 1.1, with the last update on July 10, 2020.
Let’s talk about its features:
- From the name, we understand that the EA performs a breakout strategy during the European trading session when the New York Stock Market opens.
- It works fully-automatically on the MetaTrader 4 platform.
- The EA works with other breakout periods as well – Asian (Tokyo) and NA (New York).
- The robot was well-tested before going live.
- New York and London (USD/GBP): between 8:00 am and 12:00 noon EST.
- Sydney and Tokyo (AUD/JPY): between 7:00 pm and 2:00 am EST.
- London and Tokyo (GBP/JPY): between 3:00 am and 4:00 am EST.
- We’re suggested to use IC Markets as a brokerage house.
- We can adapt the EA to work with other currency pairs.
- The best one is the GBP/USD.
- The EA uses Martingale and exiting features to increase profitability.
- The minimum deposit should be 1000 GBP to trade with 0.1 Lot Size.
- Samuel warns us that the EA can lose 3-5 deals in a row. So, we have to get ready for this.
- We can run Martingale after calculating the proper risk and margin requirements. So, it’s not a beginner-friendly EA.
- The robot works on Price Action and doesn’t need other indicators.
- We have to attach London Breakout to hourly charts.
How to start trading with London Breakout
The robot sells for $30. There are many rent options: the one-month rent costs $10, the three-month rent costs $15, the half a year rent costs $20, and the annual rent costs $25. The vendor doesn’t provide any kind of money-back guarantee.
There are several backtest reports. This one was on the main symbol GBP/USD on the H1 time frame for a one-year period. The modeling quality was poor, so there are 485 mismatched chart errors. The spread was only two pips. An initial deposit was $1000. The total net profit became $9569. The maximum drawdown was 24.31%. The EA closed 255 deals with the win-rate from 57% to 58%.
Verified Trading Results of London Breakout
We’ve got a real USD account on IC markets. The EA trades automatically with 1:25 leverage on the MetaTrader 4 platform. The account has a verified track record. It was created on December 05, 2017, deposited at $2153.16, and withdrawn at $2100. Since then, the absolute gain is -18.59%. An average monthly gain is -0.55%. The maximum drawdown is 29.94%. This account is tracked by 81 traders. Frankly, there’s nothing to track.
The drawdowns increased significantly at the end of 2020.
The EA closed 928 trades with 1052.9 pips. An average win is 38.02 pips when an average loss is -45.46 pips. The win-rate for Longs is 49%, for Shorts – 61%. It’s so low as for EA that uses Martingale. For running it, the EA has to provide over 85% of the win-rate. An average trade length is over 13 hours. The Profit Factor is still higher than 1 – 1.04.
The EA screwed the BUY direction trading results on both pairs: EUR/USD and GBP/AUD.
As we can see, it is set to trade London breakouts only.
The EA trades all days equally.
It runs the account with an insanely high risk to the account balance. For losing 10%, there should happen three lost trades.
As we can notice, from the last fourteen deals, three were lost.
Trading results showed that London Breakout has never been a stable and consistently profitable trading solution.
There is little feedback on the EA’s profile. It’s weird compared with the number of traders who track its trading account. We couldn’t find any other testimonials across the web.
The developer has no profile in a common meaning. There’s no picture, cover, and so on. He has only a single product on the board. Samuel’s profile rating is only 265.
Is London Breakout a viable option?
We don’t think so. The developer withdrew money from the account after huge losses that the EA showed at the end of December 2020.
London Breakout has become a scam, having closed the last month with -23.44%. There’s no miracle because cheap EAs don’t work. A good robot should have a price started at $200, not less. An EA for $30? No, thanks. The developer has withdrawn the account, having shown that it’s dead. So, we’d like you to stay aside from the software.