In this post I will be reviewing the Covert FX automated forex robot which made 500% profit in just 4 months! Covert FX is a fully automated forex trading system developed to make you trading profits running on the MetaTrader 4 trading platform. There is no previous trading experience required to use it. All you need to do is download the MetaTrader 4 trading platform and follow the Covert FX instruction manual to have it setup and running on your account in just 5 minutes. After that you leave the Covert FX forex robot to trade for you on auto-pilot, making you consistent profits on multiple currency pairs. This is a very powerful forex robot that can make you consistently high profits in the long run with relatively low risk. It is a diverse forex robot and completely hands free once setup. If you are looking for an automated forex trading solution then read on!
Covert FX Trading Strategy
Cover FX is a rapid breakout trading system which can make almost 500% profits in just 4 months trading multiple currency pairs. There is no high risk required to achieve such profits with the monthly average being around 100% per month according to the developer’s website. These are of course amazing gains! Breakout trading is very powerful and can lead to some big moves when price does break out and ensure that the reward can be greater than the risk due to these big moves. If a breakout fails we can keep the stop loss tight and wait for price to break out again. This is the type of strategy that Covert FX uses and it is a very successful one! It trades on multiple currency pairs on the 15 minute timeframe. The currency pairs are: AUDUSD, EURAUD, EURGBP, EURUSD, GBPAUD, GBPJPY, GBPUSD, NZDUSD, USDJPY, XAUUSD. You can choose to trade it on all pairs to diversify your portfolio and spread out the risk or trade it on a few of your preferred currency pairs. I personally like the EURUSD and GBPUSD major currency pairs due to the low spreads and plenty of liquidity for fast execution. Of course, you should always be using an ECN forex broker for the best possible trading conditions and costs. Covert FX has good money management built in with a stop loss, take profit and trailing stops to lock in profit and make the most out of the big breakouts. It does not use any grids, martingale or hedging strategies. This along with the money management and popular breakout strategy helps to make it a safe and reliable automated forex trading solution!
Covert FX Back Testing
The Covert FX website shows some impressive back testing results on multiple currency pairs. All have made some great gains with acceptable drawdowns which can be improved even further by using lower lots/risk yet still achieving very impressive gains. The modelling quality is an impressive 99% which means tick data was used so they are accurate results. The tests were done over around 6 years of data which shows that Covert FX can trade through many different market conditions successfully.
Covert FX Live Results
Covert FX Summary
Covert FX is another good forex robot from well know forex robot developers who have been around for a while and made some other great automated forex trading systems in the past. This one seems to be making really high profits over a sustained period of time, earning around an average of 1.2% profit per day. When some banks do not even pay that on interest in one year it really puts things into perspective! Covert FX comes with excellent support, licenses, lifetime updates and a no questions asked 60 day money back guarantee.