Grey Wolf is one of the products offered by Alexander, who has multiple trading tools in his portfolio. As with any other system in the market, the robot promises steady gains. It is only after analyzing it thoroughly we can understand the actual output of the system.
Product Offering
You can purchase the product on the MQL5 community, which is the leading website that offers different trading systems for MT 4 and MT 5 platforms.
Vendor Transparency
The author of the product is Alexander Oropesa Marrero from Cuba. He has 12 products that are sold on the MQL 5 marketplace. Alexander does not have any work experience, which raises some concerns over the authenticity of the product. The developer has a total rating of 1693 which mainly comes from providing demo accounts and being open to customers.
Price
The robot is available for a one-time price of $45. There is no money-back guarantee under the selling policies of the MQL5 community. It is also possible to download the demo for free and test out the system with the strategy tester.
Trading Strategy
The robot was tested to work on USDCAD and AUDUSD in the five-minute time frame. The developer claims that the robot’s purpose is to make over 25% a month without turning your account into dust. This sort of claim makes us believe that the robot can have a substantial drawdown in providing the designated return.
The robot was tested with a deposit of $50 from the developer; however, the minimum recommended amount stands at $100. For a balance of $100, the starting lot should be 0.01, and it can be increased according to the size of the portfolio. Alexander recommends using the system with a VPS.
Trading Results
The developer does not provide any backtesting and live trading results, raising many red flags for the Grey Wolf. It can mean that the system was not well tested before the release or is not profitable. Tracking performance through unique websites gives solid proof about the future of your portfolio in case of investment. There is only a single chart on the website which shows the output through a graph. The robot started trading from 7 January 2019 until 3 March 2021 and turned an initial deposit of $1000 into around $3500. There were frequent drops and separations between equity and balance curves, indicating that the EA could use grid or martingale strategy.
Customer Reviews
There are no customer reviews available on noted platforms such as TrustPilot and Forex Peace Army that can highlight what other users say about the system. This activity states that the robot has not been bought by many and is being avoided by traders due to the numerous red flags it has. Lack of feedback also raises further alarms on the authenticity of the product.
There is only one review on MQL 5 page where the user neither left any comment on the product nor gave it any stars. The developer, however, thanked him for the useless deed.
