Mr. Martin is a fully-automated Forex expert advisor that was launched on 3rd November 2018. According to the vendor, the robot is suitable for long-term investment trading. It is compatible with the Metatrader 4 trading platform.
There is no official website for this Forex robot and the MQL5 website is the only source of information for it. Here, the vendor has made a very brief presentation. We have a short description of how the EA functions, without a list of features. There are some screenshots of historical test results and a video explaining the working principle of the EA. The vendor has not shared any links to live trading accounts.
Mr. Martin is sold on MQL5 by a Russian developer called Vasiliy Kolesov. According to their MQL5 profile, this person has more than five years of experience. We don’t have any background information on the developer and they have shared no official contact information. Some of the other expert advisors developed by this person include Yellow Mouse scalping and EA Monolith.
Features
This is an expert advisor that trades exclusively in the EUR/USD pair. It has a unique input system that the vendor has provided no explanation for. Also, it uses several filters and a deposit protection system. This system is expressed in the stop loss percentage balance parameter.
The strategy employed by the robot involves averaging unprofitable positions. While the vendor claims that the strategy is safe for the traders’ deposit, they haven’t explained in detail how exactly it works.
How to start trading with Mr. Martin
The current price of this Forex robot is $360, which is not much higher than the market average. If you wish to test the performance of the EA prior to investing real money, you can download the free demo version. Unfortunately, the vendor does not offer a money-back guarantee for this product, so you won’t get your investment back in case the system does not work out for you.
Mr. Martin is optimized to work on the M1 timeframe and a GMT setting of GMT+2. To get started, you need to make a minimum deposit of $1000. It has two different settings, namely conservative and aggressive. Although the vendor has not explained either of them, we can assume that they have something to do with the risk level. The vendor recommends using the EA with a hedging account and avoiding netting accounts. In case the spread is more than ten, you should reduce the take profit value.
Backtests
The developer conducted this backtest from January 2014 to October 2018 for the H1 timeframe. Mr. Martin used an initial deposit of $1000 to conduct 359 trades, generating a total profit of $7666.28. It should be mentioned that the parameters are written in a different language and we cannot make out the win percentage for this backtest. However, we can see that the relative drawdown was extremely high at 50.08%. This is indicative of a high risk of ruin.
Verified trading results of Mr. Martin
Here we have the live trading results of Mr. Martin presented on a Myfxbook account that has been active since February 11, 2019. After conducting 512 trades through this account, the win rate currently stands at 72%. The total profit is currently $42,492.52, while the time-weighted return is 424.65%.
While the daily and monthly gains are quite decent at 0.16% and 4.93%, the drawdown of 26.26% is slightly high, although it is lower in comparison to the backtest. The account has a profit factor of 2.50.
By analyzing the trading history, we can see that the robot keeps positions open for anything between 30 minutes to 24 hours. From the middle to the end of November, it suffered several consecutive losses, which means it follows a high-risk approach.
Customer reviews
There are no reviews for this Forex EA on websites like Trustpilot, Forexpeacearmy, Quora, and Myfxbook. While the MQL5 product page has a few reviews, we cannot verify their authenticity.
Is Mr. Martin a viable option?
Advantages
- Verified trading statistics
Disadvantages
- No refund policy
- Lack of vendor transparency
- No trading strategy information
Summary
Mr. Martin is a Forex robot sold by an unknown developer with no reputation. The vendor does not offer a money-back guarantee for this system and we have little or no information about the actual trading strategy. Also, it exhibits a high drawdown while trading.
