EA Black Dragon is a trading advisor that appeared on the MQL5 market. The presentation looks like a scam because it is as short as it can possibly be. It’s not professional to provide that little information about the system.
The presentation doesn’t look professional because it’s just several lines short. We don’t know why he decided not to explain how the system works to us.
- The advisor is a fully automatic trading solution. We may relax and do nothing.
- The current version of the system for MT4 is 8.0, while the version for MT5 has a 5.0 version.
- The robot has a high rating based on customer reviews.
- “The EA opens a deal by indicator color, then there is the opportunity to increase the network of orders or work with stop loss. Works on accounts that support hedging.”
- We have to contact a dev after purchase immediately for advice and bonuses.
- What bonuses we don’t know.
- We can work with GBPUSD only.
- The only time frame to trade is M15.
- We can decide what direction we’d like the system to trade.
- We are allowed to customize Take Profit and Stop Loss levels.
- There’s a max spread filter applied.
- The advisor lets us decide what hours we would like to trade and which one not.
- It has a magic number to mark its orders among others.
- “It is possible to use a modified stochastic to enter, using the color of the black dragon indicator as a filter.”
The advisor can be purchased for $50 for a lifetime copy. There are no rental options available. We can enjoy a demo copy of the system. There’s no refund policy applied.
- It’s unclear what strategy the system works with.
- GBPUSD is the only time frame.
- We can trade on the M15 time frame.
- The account should have $1000 on it.
The advisor has a GBPUSD backtest on the over ten years of the tick data that was received from RoboForex. The leverage was 1:500. An initial deposit was $1,000 that has become $308,951 of the total net profit. The profit factor was 2.14 when the recovery factor was 2.89. There were 3342 deals traded with 73% of the accuracy.
The advisor has been trading on a real RoboForex account with 1:500 leverage automatically. The maximum drawdown is insane, 70.6%. The maximum deposit load is dangerous as well, 109.3%. We have an accuracy of 73.1%. An initial deposit was $1608. The dev almost totally withdrew the account, $1500. It’s a scam.
An average trade frequency is 73 orders. The average holding time is 15 hours.
The system works with insane risks.
The robot traded with 30 times increased lot sizes. No one wants to repeat this on their real accounts.
There were 119 orders closed. The best trade is $638 when the worst trade is -$90.94. The recovery factor is 49.35 when the profit factor is 16.91.
AUDCAD is the most actively traded pair with 28 closed orders. The most profitable is GBPUSD and NZDUSD.
The system traded with the maximum drawdowns. It’s a scam.
There are positive and negative comments. We don’t know who may like these drawdowns and high risk trading.
The developer is from Russia who has a 169,954 rating. His portfolio includes 10 products and 4 signals. The products have a 4.9 rate based on 129 testimonials.