Forex Gump EA Review
The Forex Gump is the robot to bring profitability and custom solutions to your automated trading. This Expert Advisor has been on the market for a couple of years with the appreciation of the customers. Have a look at the following review to see more details on the robots’ specifications and results.
Forex Gump EA Specification
The Forex Gump EA is a fully automated Forex robot that is available in two versions: the first one is for €199 and the second one is for €399.
The first thing that we have to say about the Forex Gump EA is its profitability. It executes orders day to day as it was intended by the developer. Also, the robot uses trend candles and News Filter in its trading. So, together with the crafted take-profit setting system that adjusts to the market situation, the Forex Gump EA makes the income of the robot obviously high.
The Forex Gump EA is developed to close every order in profit in the period from 1 to 4 days. There is a specific technology that is supposed to protect the account from a bigger loss than the trader is ready to risk, which is needed to be pointed out in EAs’ settings.
- The Forex Gump EA is made to trade on 9 currency pairs in the M1 timeframe. This robot uses USDCAD, EURGBP, EURUSD, GBPUSD, USDCHF, AUDUSD, EURCHF, USDJPY, and EURJPY;
- The minimum normal account value to start trading with Forex Gump EA is as high as $4000, and the minimum for a cent account is $40;
- It is compatible only with brokers that use a narrow spread because the trading analysis of the robot shows that it trades pretty much like a scalping EA;
When purchasing the Forex Gump EA, you choose from two packages of the robot, which differ from one another only by the number of the real and demo accounts that you can have. So, here are the features that you get buying one of the packages of Forex Gump EA:
The €199 package
- Live accounts: 1
- Demo accounts: 1
- Free 24/7 Support
- Free Updates
The €399 package
- Live accounts: 3
- Demo accounts: Unlimited
- Free 24/7 Support
- Free Updates
Trading Statistics of the Forex Gump EA
The main graph that we are representing here is the Profit statistics of the Forex Gump EA on the real trading account of the developer, which shows a pretty solid upward moving trend of the profits. This balance and equity graph shows the movement of the account value through time. It is important to mention that the historical floating P/L and the historical prices are not available for some symbols or times.
Next goes the Drawdown statistics of the Forex Gump EA which includes the statistics of historical floating P/l, growth, monthly return, profit factor, and days in history. The drawdown graph of the robot looks pretty sharp and goes as deep as more than -3000.
The monthly return table is also one of the most important graphs that have to be included in the review as it is one of the crucial factors for any Forex robot to be a profitable one. As we can see, the different currency pairs show pretty different profit factors due to many factors such as fluctuation and market activity. Also, it is obvious that the systems profit factor has declined from 18.1 to 0.2 during the year.
Pros and Cons of Trading with Forex Gump EA
So, there are certainly some advantages and also some disadvantages that should be recalled to describe the Forex Gump EA in fullness.
Pros of trading with the Forex Gump EA
- High profitability;
- Ability to trade with 9 currency pairs;
- Low price;
- 30 days money-back guarantee;
Cons of trading with the Forex Gump EA
- High drawdowns;
- Low profit factor;
- Scalping looking trading strategy;
- Has no backtests;
The Forex robot that we have been a review on is not exactly the perfect EA that should be called the best Forex robot on the market. It obviously has many advantages and disadvantages, which makes the purchase of it a pretty discussed option. It is up to the trader to decide whether the Forex Gump EA is worth the trust or not.