FXParabol is an expert advisor that can be found on the Forex Store and this site. The presentation let’s us know how the system works and the devs share some backtest reports and trading results on their website to demonstrate the performance of this EA. We know nothing about the developers and the company behind the service. According to the trading results, the system has been in existence since August 2020.
It’s the right time to take a look at the system’s features in more detail.
- The advisor was designed in a purpose to help us with automatic orders execution.
- It uses some well-known indicators to spot trading opportunities: Parabolic SAR and Bollinger Bands.
- It should calculate precise entry points for every order.
- Everything goes automatically.
- The system has recovery possibilities on the board.
- Trading is possible on USDJPY and USDCHF.
- The advisor knows how to cut out drawdowns.
- We can decide what settings will be customized.
- The system traded with low drawdowns.
- There’s a possibility to open an account on any broker.
- It supports various account types.
- Platforms to work are MT4 and MT5.
- The system has been trading for a significant period.
- The win rate can be as high as 70%.
We can buy a copy of the robot for $289. The devs support us with a 30-day refund policy. The package also includes online accounts switching and many demo account licenses to check the robot.
How it works
- The system spots trading opportunities and checks the market conditions.
- It calculates entry points.
- The system provides orders with SL and TP levels.
- It works with Parabolic SAR and Bollinger Bands.
- We can work with USDJPY and USDCHF.
- We don’t know details about time frames to work with.
The system was tested on many pairs. This report is about USDJPY that was tested on the H1 time frame. The data for seven years was provided by FXOpen. The modeling quality was 90.00% with 30-pips spreads. An initial deposit was $10,000 that has become $40,232 of the total net profit. The profit factor was 2.65. The system had 406 orders traded with the 75% win rate for shorts and 73% for longs.
FXParabol keeps working on a real account that was created on FXOpen. It trades automatically with 1:500 leverage on MT4. The account doesn’t have a verified track record. It was created on August 19, 2020, and deposited at $1,000. Its total gain is 451.30%, while an average monthly gain is 9.80%. The maximum drawdown is 22.86%. The growth chart looks pretty smooth.
The system performed 141 deals with an average win of 51.13 pips and an average loss of -71.74 pips. We have an average accuracy at 78% for long and 62% for short trading positions. The trade length is 10 days. The profit factor is 2.28.
The advisor has almost equal profitability on both pairs.
The advisor works with medium-high risks because it has to lose 7 orders in a row to lose 10% of the balance.
The system combines Grids of orders with some increased lot sizes to have better profitability.
FXParabol allows its owner to gain some monthly profits.
The presentation isn’t featured by people testimonials. It’s a con because we have no idea if the robot works well for clients.