I will be providing a review of the EFC EA Robot that was produced by the knowledgeable trading team over at trading strategy guidelines in the next post. They provide a wide variety of both manual and automated forex trading systems, all of which have been evaluated by me in the past. In addition to this, they release brand new forex trading products on a regular basis. One example of this is the EFC EA Robot, which is compatible with the MetaTrader 4 (MT4) trading platform and will fully automate the process of placing, managing, and closing trades for you.
You just need to install the EFC EA Robot on your charts by following the instructions that are provided, and then you can sit back and let the EFC EA Robot analyze the market for you. When you attach the robot to your charts, just make sure that the lot size you specify in the robot’s parameters is reasonable, and that you are aware of the potential dangers of trading online using any type of trading system, whether automatic or manual. Due to the fact that it is totally automated, the EFC EA Robot is appropriate for use by both novice traders and those with more experience.
Although a forex robot can be a hands-off solution for those of you who do not have the time or knowledge required to trade manually, there are several crucial pros and disadvantages to keep in mind before making a decision to use one. In this evaluation of the EFC EA Robot, we are going to examine at the trading strategy that it employs, as well as the backtests, and most crucially, any verifiable results. With any luck, this information will assist you in determining whether or not the EFC EA software is something that you would think about implementing on your personal trading account.
Trading Strategy Based on the EFC EA Robot
The EFC EA Robot is derived from the manual forex trading technique developed by the same developer that bears the same name. The EFC Reversal Indicator will be used to guide any trades that are executed by this system. It comes with built-in money management that you may tailor to your specific requirements at any time.
Naturally, it will determine where your stop loss and take profit levels should be for you. You can utilize the EFC EA Robot regardless of whether you are a scalper, day trader, or swing trader; as a result, it is incredibly adaptable and will work with your schedule.
It is applicable to any currency pair and can be utilized on any time frame. Due to the high levels of liquidity they offer, I favor trading with big currency pairs such as EURUSD and GBPUSD. On the other hand, I feel that charts with a time frame of H1 and higher are useful for removing range markets and noise from lower-level time frames.
One of the available choices is to get the EFC EA Robot package deal, which comes with the indicator as well as a few additional forex trading tools.
When you link this robot to the charts in your trading platform, you will notice that the developer has made all of the settings for the EFC EA Robot openly available. This means that you will be able to make changes to these settings by using the inputs window. You can always just use the default settings provided by the developer, which have already been optimized, but you should always check to make sure that the lot or risk size is set to a suitable level for your risk preferences because every trader is different in that regard. You can always just use the default settings provided by the developer, which have already been optimized.
I often tell people that if they want the finest trading circumstances, they should use an ECN forex broker since they offer low spreads, low fee, and low slippage, which helps me save money on trading costs over the medium to long term. When it comes to managing automatic forex trading robots, IC Markets is one of the best forex brokers I’ve used. This is due to the fact that they are an ECN broker with a large amount of liquidity, which means that you are able to trade with cheap commission fees, rapid trade execution speeds, and tight spreads at the best prices that are currently accessible.
Back Testing on the EFC and AA Robots
The official website for the EFC EA Robot has a back test, but we shouldn’t draw any conclusions from it at all because the modeling quality is quite poor and it only covers a very brief period of time. Back testing it using Birts Tick Data Suite (Birts TDS) using actual tick data, real spreads, real commissions, and real slippage is something I would be interested in seeing. If these extremely essential aspects are not taken into consideration, the findings may be quite different. The Forex Robotron EA is comparable to the majority of the best forex robots available today, which all have 99% in their modeling quality testing.
EFC EA Robot Live Results
If the absence of backtests of the highest possible quality wasn’t terrible enough, the developer isn’t even sharing any real-life verified accounts of the EFC EA Robot with the public. Without them, we have no way of knowing whether this trading robot has been doing well or poorly given the present market conditions, which are always shifting. If only for this reason, I might look into utilizing a different trading robot, such as the Forex Flex EA. This robust forex program comes with backtests that have a modeling quality of 99% and is supported by outcomes that have been confirmed. There are two things that are missing from the EFC EA Robot. Please visit the page that has my best forex robots results in order to view the most recent live verified trading account performance of all forex robots.
Review of the EFC and the EA Robots
Although it is adaptable, I won’t be able to form a definitive decision about the EFC EA Robot unless I put it through a large amount of testing and investigate the matter in greater depth first. Back testing is the only way to find out which currency pairs and time periods the EFC EA Robot operates on, therefore in my opinion there should also be a little bit more direction regarding these things. I believe that this forex trading software has a great deal of space for advancement. Primarily, I would like to see some high-quality back tests added that demonstrate what the software is capable of doing across a variety of financial instruments and chart timeframes. The lack of real confirmed EFC EA Robot results is going to be a deal breaker for the majority of traders who are looking for a dependable automated trading system. This is the most essential point.
In light of this, if you still want to move forward, you should do so with extreme caution and consider beginning with a practice trading account so you can evaluate its performance before going live. You always have the option to test it out on a sample account first to check if the outcomes match up to your anticipations. Bear in mind, however, that the parameters of a demo trading account can vary significantly from those of a real live trading environment. The EFC EA Robot comes with a money-back guarantee, instructions, extras, and complete assistance from the manufacturer. In any other case, if you’d want some alternatives, feel free to look over my reviews of several forex robots.
