Red Horse EA is a fully automatic robot designed to trade gold. The devs claim that the system can make a monthly profit of 12%-23% and generate a low drawdown of 9.7%. This, according to them, makes the EA the ideal addition to any trader’s arsenal.
The robot is characterized by the following features:
- It comes with a customizable news filter.
- The system includes money and risk management systems.
- It’s capable of assessing technical and fundamental news.
- The robot runs on the MT4 trading terminal and works on the M5 timeframe.
- ECN and standard account types are supported. Refrain from using cent or mini accounts.
- A minimum of $1000 is needed to begin trading.
- The account’s leverage must be above 1:500.
- For best performance and to ensure the EA is on throughout, use a VPS or have your PC online always
The robot was created by Sinry Advice, a company that works with a team of Forex traders and developers. The professionals are based in London, and they claim their tools aim at simplifying trading so as to save users’ time. Apparently, they received an award for offering one of the most downloaded EAs in 2020. We don’t know how true this statement is because no evidence is available to back it up. The company’s other creations are Werewolf Robot and TJ10X Forex Indicator.
Traders who want to buy this robot are provided with two pricing options. To use the robot for a month, you need to pay $59 every time. The cost goes up for those who opt to trade with the EA yearly—$495.6. Both packages feature a 14-day free trial.
Red Horse EA is said to be a volume and volatility based system that also works with the top bottom strategy to identify the price in the market. While collaborating with an intelligent signal, the robot places a buy/sell order when gestured. According to the devs, the system has the ability to comprehend market perceptions up to 85%. If the market surpasses the price order, the EA’s grid will be triggered to begin trading. Moreover, Red Horse has incorporated numerous scalping systems that conduct 3 kinds of trading in a single bot.
The developer doesn’t provide the backtest results for this system. This test is vital because, among other things, it illustrates the win rates, trading frequency, profitability, and loss rates of a system. So, with the help of the test, it is possible to point out the optimal time when trading is best.
The bot is managing a demo account on Myfxbook. The devs opened it in November 2021, and using a capital of $1000, the system has made a profit of $331.17. So, the current balance is $1331.17.
A total of 454 orders have been initiated, and the success rates for long (75%) and short positions (73%) aren’t excellent. The average win is 187.31 pips, while the average loss is -398.38 pips. This means that the EA has a risk/reward ratio of 1:2. Its profit factor is 1.52.
January was a very profitable month for the account, but it almost lost all these gains in February after making losses amounting to -10.1%.
This account is safe for now.
The system mainly worked with the sell orders. However, the long positions generated the highest amounts of profits.
We could not find customer feedback for this robot. It is possible that traders have not begun using the system since it is new. So, we expect to see reviews in the near future when the devs popularize the product among traders.