Today, we’d like to talk about the Speed Magic New robot that was designed by Volha Loyeva and released on March 1, 2020. The EA received many updates. The last one was 25.0 from October 10, 2020.
Speed Magic New Features
The presentation on the MQL5 community is half a page short. It was challenging for us to get everything together for you:
- The EA trades a single pair – EUR/USD on the H1 time frame.
- The robot works completely automatically.
- There’s no-one-knows “the best time-tested system” with aggressive parameters and hedging as an additional strategy.
- The EA doesn’t perform scalping or grid strategy.
- The main strategy is based on “the AI system.”
- It doesn’t have opened many orders at the same time, increasing drawdowns.
- The maximum opened positions are managed artificially by the system.
- There are two settings files that allow us to trade conservatively or aggressively.
- The system trades many currencies, mostly reaching TPs.
- The system got many inbuilt parameters, leaving for customizing only the most important ones.
- Spreads can be as high as 20 pips.
Pricing
The EA is cheap and costs $99. It’s available for a free demo download. There’s no money-back guarantee.
How it works
The robot works well with the next settings and requirements:
- The developer suggests us to use the Roboforex brokerage house to trade.
- The robot doesn’t have a risky trading system on the board.
- There are many customizable options for us to make it works better.
- Several trading modes can increase profits with increasing risks as well.
Trading Strategy
- It trades a non disclosed strategy plus hedging.
- There are conservative and aggressive modes on the board.
- It works with EUR/USD. It trades it only on the H1 time frame.
- The robot works well only with the USD, as a deposit currency, accounts. For EUR, JPY, and other ones, further testing is required.
Trading Results
The test was performed on the H1 time frame with EUR/USD currency.
The initial deposit was $1000. The robot performs with 1:500 leverage. The total net profit (for what period?) has become $10,35M. The Profit Factor was 3.35. The EA performed 690 trades with an 85% win-rate. The maximum drawdown was 26.16%.
There’s a real USD account on the Fort Financial Services. The EA trades automatically with 1:500 leverage on MT4. The account was created on August 02, 2020, and deposited at $1500. For over three months, the robot has provided +20.89% of the total net profit. An average monthly gain is 5.09%. The maximum drawdown is 15.59%.
The robot closed 173 deals with 624.7 pips. An average win (7,72 pips) is three times less than an average loss (-23.17 pips). Win-rate is between 85% and 87%. An average trade length is one day. The Profit Factor is 6.40.
The EA prefers trading the SELL direction over the BUY one. As we can see, the owner tried to set the robot on other charts like CHF/JPY, EUR/CAD, and USD/CAD.
Most activities occurred during European trading hours.
Thursday is the most active day to open trades.
The EA trades with medium risks to the account balance.
The robot closes trades with little just several pips scalping-styled profits. Many deals are performed without SL placing. Others have insane SL levels.
Three weeks in November showed almost no profits on the account.
Customer Reviews
The EA has a five-star rate with a purchasing frequency of eleven copies monthly.
There are many positive comments from those who bought the EA.
Other notes
The developers focus on providing explanations and support, first, for Russian speaking customers. To manage them, the devs created a Telegram channel.
FX Urban Group has designed nine products and provides signals from two accounts. The rating is in the mid of the pack.
