ForexTruck EA Review
Forex Truck EA is one of the quality Forex robots that’s been out working live for a long time, having impressive results. This is a 100% automated trading system that is compatible with all types of brokers and can be used with any of the available brokers in your country. Forex Truck is made to work on both MetaTrader 4 and MetaTrader 5 trading platforms so that you can choose whatever you want.
Forex Truck Specification
Forex Truck EA is developed the way that it works, using two trading blocks that are supposed to work together to reach the best trading results. The “two-blocks” trading logic of the Forex Truck robot implies that the first trading block does the main job of looking for the entry points and executing trades using fixed lots, and the second one fixes the difficult market situations that might happen during the trading.
The First Block
According to the signals and algorithms of the system, the Forex Truck may open one or a few trades at the same time and looks for the best way to close the trade in profit. If the situation changes to losing, the system looks for the best possible situation to close the trade in a small profit or even in a loss, so that it can avoid deep long drawdowns.
The Second Block
This trading block gets to work only if the first block gets into a complicated risking situation that is difficult to fix, which has been going for some time. In this case, the Forex Truck works to fix the situation fast and to reach the profit from all the trades. This trading block uses a specific algorithm that allows opening some additional orders with a little lot size increase that should resolve the problems with unsuccessful trades.
Risk Control System
Forex Truck EA has also got a limiting drawdown system implemented into its trading logic. This system is designed to ensure sufficient safety level of the funds during the trading process and the safety from total loss of the account money if some kind of failure would stop the system. In case of such an error, the risk control system would not allow the robot to lose more than you were ready to. The EA sets StopLoss and also monitors the status of orders in real-time so that, if necessary, close them by the Market (forcibly). All this works in accordance with a “risk” value specified in the settings of the EA.
Trading Statistics of Forex Truck EA
Here are the trading statistics of Forex Truck EA that will surely give you a glance at the perspectives and productivity of this Forex robot. Here you have the following list of different statistics from the third-party company FXBlue:
- The Profit graph shows the historical profit growth of the Forex Truck, which was actually pretty straightforward. The profit graph has a strong upward trend and shows amazing results of the EA on the real account;
- The Drawdown graph, where we can see all the fixed drawdowns of the system that appeared during the Forex Truck trading history;
- The monthly return table, which shows the profit factor of the EA month by months throughout the whole trading history of Forex Truck;
So now, having a deeper understanding of how the Forex Truck works and what features it has in its arsenal, it is time to say, what you get by purchasing the robot.
- The system goes as a one-time purchase with the lifelong trading license;
- You have the possibility to change account number as many times as you want;
- The Forex Truck is compatible with both MetaTrader 4 and MetaTrader 5;
- The user manual with detailed information about the purchased EA and set-up process;
- High-quality and friendly technical support 24/7.
Pros and Cons of Trading with Forex Truck EA
Like anything in this world, Forex robots have their own strong and weak sides, so there are a bunch of pros and cons of trading using Forex Truck EA.
Pros of trading with Forex Truck robot
- Two-blocks trading logic that can keep the return level of the system on the high point;
- A convenient risk control system which is successfully implemented into the trading algorithm of the robot;
- The Forex Truck is optimized to trade with both MetaTrader 4 and MetaTrader 5 trading terminals;
- By purchasing the robot, you get both versions of the Forex Truck and the lifetime license to use it;
- The system is optimized to work with any Forex broker, including NFA and FIFO regulated brokers;
- The developer provides real live trading results, backtests, and money-back guarantees.
Cons of trading with Forex Truck robot
- The system costs $329 which could be a significant price for some customers;
- The Forex Truck might not fit those who do not expect the lot size multiplication;
- This robot is not for those who rely on the low-risk strategies in a long-term perspective, the Forex Truck trades quite aggressively but still has one of the most reliable trading histories and no deep drawdowns all stop-losses during the whole trading history.
In this Forex Truck EA review, we discovered one of the best Forex robots out there which shows both the reliable trading style together with the high return level. The system also has a bunch of fascinating and innovative features that you could not find in other automated trading systems.