In this post I will be reviewing AsA Fx Forex Robot. AsA Fx is a fully automated forex trading system for the free to download MetaTrader 4 trading platform. It was developed by Argo Labs who specialise in automated trading systems including the previously reviewed Forex Warrior. AsA Fx can trade on all currency pairs and also metals and indexes.
AsA Fx Trading Strategy
The AsA Fx trading strategy is based on support and resistance levels. It uses limit orders on either side of support and resistance so that it enters trades on a bounce of these levels. Support and resistance levels often get tested before breaking out hence they will often cause price to bounce for a high probability pullback entry.
If the support or resistance level does not hold up and price breakout then AsA Fx will place another limit order at the next level with an increased lot size. It will keep re-entering in a grid style if support and resistance levels are breached until price retraces and all orders are closed. This is an extremely risky strategy in my opinion and something I would not trade personally.
The maximum size of the grid can be specified in the AsA Fx settings although they do provide some default settings. There is also a news filter included to try and avoid trading around high impact news that can cause big price movements that break multiple levels of support and resistance which helps to prevent an unnecessary grid forming. You can choose between a conservative or aggressive setting.
AsA Fx Back Testing
Due to the nature of AsA Fx trading strategy the developers state that it is not possible to back test due to MetaTrader 4 restrictions.
AsA Fx Live Results
AsA Fx Summary
Overall, I would personally avoid using this particular forex robot. I find that it is too risky for my personal taste. I have conducted many forex robot reviews and there are alternative options that I would prefer over this EA. It does however come with instructions, full support and a money back guarantee.