Summary
An automated foreign exchange trading method known as the Forex Combo System has been designed and perfected for use with the MetaTrader desktop terminal. It is able to scan numerous charts at once for trade indications, including charts involving various currency pairs. This forex robot can be instructed to place trades on your behalf if you so want. In addition to this, it will manage them and shut them down according to the parameters that you select. You also have the option of using it in a mode that is semi-automated. In this scenario, the trading program will send you a notification of a forex signal alert, and you will then have the option of deciding whether you would want to perform a manual trade or wait for the next opportunity to present itself. In order for it to function, you will need to have the MetaTrader platform running, as is the case with the vast majority of forex robots. If you are unable to have the platform open on your computer at all times, you might want to consider investing in a Forex virtual private server (VPS), which will enable you to run the trading terminal remotely around the clock without the need for your home computer to be on. In this review of the Forex Combo System, we will look at the trading strategy, the features, and the results of the expert advisor to assist you in determining whether or not it is something that you would like to employ on your forex trading account.
Pros
• Trades on numerous currency pairs
• Settings are fully customizable
• Combination of four trading strategies
• Protection from volatile markets
• Members area
• Myfxbook confirmed results
Cons
• There are no backtests with a modeling quality of 99%
• Only MetaTrader 4 is supported.
Strategy
The team at Fxautomater is responsible for developing the one-of-a-kind trading algorithm that is utilized by the Forex Combo System. They offer a wide variety of trading robots that are for sale to the public, such as BF Scalper Pro, Grid Master PRO, Smart Scalper PRO, GOLD Scalper PRO, Omega Trend EA, Volatility Factor 2.0 Pro, Forex Diamond EA, Forex GOLD Investor EA, and Forex Trend Detector, among many more. It is clear that they have a great deal of experience when it comes to trading using automated systems.
The Forex Combo System is a consolidation of four distinct trading approaches into a single forex automated trading system. It has been optimized for the EUR/USD currency pair, as well as the GBP/USD currency pair, the EUR/AUD currency pair, and the EUR/CAD currency pair. You have the option of running it on a select number of pairs or on all of them, depending on the level of trading activity that you are seeking. The program is being continually improved by its creators through regular updates in order to guarantee that it is in sync with the most recent state of the currency market. The most recent EA setting files are made available to consumers at no additional cost.
The development of Forex Combo was informed by a comprehensive study of tens of thousands of currency exchanges. The development team meticulously documented each transaction and the tactic that produced the most successful outcomes. In a short amount of time, a pattern emerged that was pointing to 4 different trading techniques; hence, the Forex Combo System was developed. The following is a list of the strategies that have been put into action:
Techniques of Scalping
The Forex Combo System employs an automatic scalping method that matches high probability trades with low risk, and it does this by determining market trends and basing trades on that analysis. A consistent small-spread approach gradually adds trades in an effort to achieve the highest possible level of performance.
Techniques for Identifying Trends
Currency markets provide data that is unambiguous, simple to track, and capable of being analyzed in real time. This information is presented in the form of trends, which can be utilized in an effort to forecast the path that the market will take. There are some prosperous traders who make use of complex Trend Detection tactics in an effort to anticipate and capitalize on favorable price movements. The Forex Combo System keeps a continual eye on the market in order to identify any signals that may indicate the presence of a potential trend signal.
Adjustments to the Market
When the present market trends have run their course, the Forex Combo System may also attempt to capitalize on deep market corrections. The most important thing is to have the ability to estimate when the market will change direction. This is a highly nuanced scientific field that requires thousands of extremely quick computations.
Detection of the Range
Many foreign exchange traders feel that following the trend is the best strategy, and that a trending market can result in significant price shifts. Despite this, a significant amount of trading takes place even when the market is in a position in which it is not trending. The Forex Combo System makes use of a robust algorithm in order to make an effort to identify a market that is not trending and then alters its trade detection in accordance with this information.
Features
Let’s have a look at some of the most important characteristics of this particular forex software now that we’ve discussed the many forex techniques that are pre-programmed into it:
Completely and Utterly Computerized
Even trading just one forex strategy manually can be challenging, much less trading all four. The Forex Combo System is capable of doing a large number of complicated calculations in a matter of seconds, and it can do so across a wide variety of currency pair charts and timeframes. It is quite unlikely that a human being could accomplish this task manually. This implies that users receive access to a diversified and completely automated foreign exchange system that can handle all of the market analysis and even manage deals on their own. Unless you choose to trade manually, which is still viable with the program if you set it to merely send you a notification when it finds a signal. The other option is to use the software to automate the process of finding signals.
Money Management
The management of one’s financial resources is among the most essential components of any forex trading system. The software comes with fully customizable money management options such as break even, stop loss, take profit, and trailing stop. The user has the option of trading with preset lots or setting a risk percentage, in which case the EA will automatically determine the lot size on the user’s behalf.
Protection against further loss
The EA possesses a one-of-a-kind trading logic that, when applied to exit positions, prevents the early activation of stop-loss orders. This line of reasoning permits positions to be closed, so mitigating losses, provided that the prices at the time are statistically favorable.
Protection against a Volatile Market
The Forex Combo System will make every effort to avoid opening positions in risky markets that are characterized by significant price swings (gaps). The objective of this function is to reduce the likelihood of broker slippage occurring in the expert adviser positions as much as possible.
Notifications
The Forex Combo System will keep you apprised of each and every activity that occurs in your trading account. Having your terminal set up to receive these messages is a simple process. Traders can still keep an eye on their accounts even though they are not need to spend the entire day in front of their computers watching their traders. The automated trading program is able to keep you apprised of its transactions via email and push notifications delivered to your mobile device.
Access Only Granted to Private Members Area
Users who have purchased the EA have the ability to manage their trading accounts, personal profiles, download the Forex Combo System files, and communicate with the support staff from within the member’s area.
Results
When it comes to picking out a trading robot, one of the most essential things to do is to look at its most recent results as well as its performance over the course of its entire existence. Even while this does not provide a guarantee of future results, it can serve to provide us with a general concept of what to anticipate from the trading strategy that is now being utilized.
Myfxbook Forex Combo System Trader
The members of the Fxautomater team have just written and distributed a Myfxbook account of the Forex Combo System EA, which has been in operation for a number of years. The fact that it is merely a demo account is the source of the problem, since it does not instill the greatest amount of confidence in us. In light of this, the findings are presented farther down, and you can get further statistics by clicking the graph.
Testing of the Forex Combo System in the Past
There is currently a big inventory of Forex Combo System backtests for your perusal. They demonstrate how the EA may have fared in the past based on backtesting using historical data in the MT4 strategy tester. [Citation needed] The issue with these backtests is that they do not use tick data, they use changeable spreads, and they do not include any commissions in their calculations. Because of this, the quality of the modeling can only be up to 90%. All of these are significant elements, each of which has the potential to influence the outcomes. The Fxautomater team should consider updating the results so that they have a quality of 99% for the models.
Conclusion
The Forex Combo System Robot combines four highly effective trading systems into a single automated platform that is simple to operate. As a result of the diversity contained within its trading algorithm, it is able to adjust to both trending and range-bound market circumstances. It is possible to tailor the software’s settings to your specific requirements, and you may use it with any trading instrument and chart timeframe. The software also offers a number of highly useful features and is flexible in this regard. Despite its many strengths, this forex robot is not recommended due to the absence of real verified account results and poor quality backtests that average 90% modeling.
FAQ
What exactly is the cost of the Forex Combo System?
The price for this trading software is $247. You are able to use the Forex Combo System with either one live account or an unlimited number of demo accounts simultaneously. You will never have to pay to have the EA updated because you will receive new versions and updates at no additional cost.
Where can I get a copy of the Forex Combo System on my computer?
The Forex Combo System is available for download from the official website, which can be found here.
What type of support is available for customers using the Forex Combo System?
If you have any problems or queries at any time, there is help accessible from a team of experts who are available to assist you around the clock.
To get the most out of the Forex Combo System, which are the best brokers to use?
The Forex Combo System is suitable for use with any foreign exchange broker that makes use of the MetaTrader 4 trading platform.
What is the lowest amount that must be invested in order to trade using the Forex Combo System?
This forex robot does not have a minimum deposit requirement that must be met before you can begin utilizing it. Due to the high level of risk that is associated with online forex trading, you should never trade with money that you do not have the financial means to lose.
What is the policy regarding the Forex Combo System’s refunds?
If for some reason you are not satisfied with the product, you have a period of sixty days during which you can request a refund of your purchase price.
Is the Forex Combo System a fraudulent investment scheme?
Although we do not believe that the Forex Combo System is a fraud, this does not guarantee that it will be profitable for you in the long run.
I’m interested in the Forex Combo System, however it costs money.
You may spend numerous hours seeking for a free version of the Forex Combo System that is being shared, but there is a good chance that it will be out of date, unsupported, and possibly broken when you find it.
Which currency pairs are available for trading with the Forex Combo System?
The following currency pairs (EUR/USD, GBP/USD, EUR/AUD, and EUR/CAD) are supported by the software: EUR/USD, GBP/USD.
Where can I get the optimal settings for the Forex Combo System?
Due to the extensive amount of time spent designing and testing the Forex Combo System, the default settings that are already provided by the developer are likely going to be the ones that turn out to be the most effective. Because each forex trader has their own unique tolerance for risk, you will need to make the necessary adjustments to the risk level and lot size.
I would like to adjust the settings of the Forex Combo System.
Experimenting with the EA settings in the MT4 strategy tester and optimizing your own set files on any trading instrument and timeframe of your choosing are both options available to you if you have the necessary expertise.
What components do I need to have in order to operate the Forex Combo System?
You will need to have a demo or real trading account with a forex broker in addition to the MetaTrader 4 desktop trading platform. Before being comfortable with how a forex robot operates and determining whether or not it is something that we would like to utilize in a real live trading environment, we would always only ever use a forex robot on a demo account. This is always the case.
How much cash might I potentially make using the Forex Combo System?
There is no way to know how well this or any other forex trading robot will perform, and there are no promises either way. Nobody can accurately forecast what will take place in the future because of the unpredictability that exists inside the foreign exchange markets. Whenever you use an automatic foreign exchange system like the Forex Combo System, you need to be sure that you fully comprehend all of the hazards that are associated with doing so.
