In this post I will be reviewing the Big Ben Time EA. For those who may not be aware, a forex expert advisor (EA) is a fully automated forex trading system that will trade for you automatically. They are also referred to as forex robots and require no intervention from the user other than setting them up on your MetaTrader 4 (mt4) charts. Mt4 is a free to download and perhaps the most popular forex trading platform available from most forex broker around the world. For best results with Big Ben Time EA or any other forex robot I would personally use a reputable ECN forex broker as this can lower trading costs and improve performance if the spreads, commission and slippage are all low. The Big Ben Time EA is suitable for beginner and advanced trades as it is a set and forget forex trading solution with easy to follow instructions included to get setup within minutes. At the time of me writing this review in early 2019, the Big Ben Time EA myfxbook verified real accounts are a bit messy but none the less in profit. It would take a certain type of trader with extreme patience and discipline to survive through the down periods it has had whilst you would also need to be averse to high risk as the drawdown is currently around the 50% mark which is very high considering the profit is just slightly above that. Check back for the latest Big Ben Time EA results when you read this review to see how things have progressed since.
Big Ben Time EA Trading Strategy
The Big Ben Time EA trades the USDJPY around the London open, hence the name! This break out is an old popular strategy that I have previously used myself although to automate it I think would be slightly tough as it requires the human eye and fundamentals to filter out bad signals. There is no dangerous martingale strategy used and the Big Ben Time EA does use a stop loss and take profit which is placed for you automatically. There are 2 modes, the boost up and normal mode. Whilst the boost up mode makes more profit based on the developer’s tests, it has a lot of risk with it. The normal mode doesn’t even seem to be making much of a profit either.
Big Ben Time EA Back Testing
There are a couple of back tests on the official Big Ben Time EA website although it is not clear if these have been done using real tick data in Birts Tick Data Suite (Birts TDS). None the less, it has performed ok during the years tested although the live results do not seem to match up to the historical results, perhaps due to various factors not considered during back testing such as tick data, slippage, variable spreads and commissions.
Big Ben Time EA Live Results
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Big Ben Time EA Summary
Overall, the Big Ben Time EA has made some profits but I personally believe the risk it is showing on the myfxbook account and drawdowns are too high. I would like to see it back tested with Birts TDS for accurate historical results and I would also consider adding some additional filters to filter out some of the frequent bad trades. In all honesty, there are better forex robots out there. However, the Big Ben Time EA does come with a money back guarantee, instructions and dull support.