In this Forex Truck EA Review, you will get all the necessary information you need to know before you can buy the robot.
By now, you should know that the internet is filled with fake robots.
This review will tell you what to look out for before buying the forex truck robot.
Forex Truck is a forex expert advisor that works with any broker.
It has two basic blocks that it operates on and these blocks perform different functions.
The first block performs so many functions.
Firstly, the first block is responsible for opening orders by finding good entries and using a fixed lot size.
This first block opens a trade and ensures that it closes it on a good profit.
Although, the first block can open more than trade when the market condition is very good.
In addition, on market conditions, the block closes a trade on a small profit or in a small loss in order to avoid huge drawdowns.
However, the second block works during situations that the first block cannot handle.
This block uses an algorithm that opens additional orders based on market situations.
It opens these orders with a small increase in lot size.
|Refund?||No Money-Back Guarantee|
|Trading Platforms||MT4 and MT5|
|Historical ROI||Not Disclosed|
|Website||Forex Truck Website|
Forex Truck EA Review: Strategy Review.
The developers of this robot did not reveal the exact strategy that it uses.
However, the robot uses risk control.
This expert advisor sets a stop-loss and trades.
It monitors trades and closes them in accordance with the specified risk value in the settings of the expert advisor.
Forex Truck EA Review: Live Account.
The robot has just one live account proof.
A good forex expert advisor should have multiple proofs of live account trading.
In fact, on that live account result, the robot had the best trade of 140 pips while it recorded the worst trade of -321.3 pips.
Does this imply that a user can lose all his money in a trade because of the robot’s mistake?
Also, the backtest results of this robot are too good to be true.
The forex truck robot trades with two styles which are the aggressive style and the normal style.
With the normal style, the robot a profit of $75,000 with a deposit of $5,000 over six years.
While on the aggressive style, it made a profit of $11 million with a deposit of $1,000 over the same period.
The result of this aggressive style is too good to be true.
Should You Buy The Robot?
Why should you buy a robot that has no money-back guarantee?
This means that a user can never get a refundment if he is not satisfied with the robot’s performance.
Why should a user buy such a robot?
Also, the robot recorded the worst trade which is almost three times bigger than the best trade on its live account result.
This robot recorded the best trade with the accumulation of 140 pips.
While it recorded the worst trade after it lost 321 pips.
Does this imply that a user can lose all his money at once due to the ineffectiveness of this robot?
Lastly, the result of the aggressive style of trading that the robot uses is too good to be true.
The forex truck robot works with any broker.
It operates on two blocks.
The first block opens trades and executes them for maximal profit.
While the second block executes trades that the first block can not handle.
In addition, the robot uses risk control to avoid huge drawdowns.
However, it has some shortcomings that you should be wary about.
Here are some of the shortcomings.
Firstly, the robot has no money-back guarantee.
Then, a user can possibly lose all his money on a single trade.
Also, the backtest result of his robot is too good to be true.
Do you still want to buy the robot after reading to this point?
If I were you, I will keep vising forex dominant for more reviews and articles like this.
Or I register for an advanced forex class to learn more about the forex market.
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