In this post I will review the Econ Power Trader forex robot by the LeapFx development team. LeapFx claim that Econ Power Trader generated almost 1,500% profit in just a few months which of course is an insane gain and even a small fraction of that number would be a fantastic gain for your average retail forex trader. That being said, the current verified myfxbook account provided by LeapFx for Econ Power Trader is running on a demo account although it has done almost 2,000% in under a year at the time of me writing this review – we should consider that the conditions on a demo trading account will be much different (spreads / slippage) compared to a real account especially when using a news trading system such as that incorporated by Econ Power Trader. Of course, a real trading account statement would be great but those fully automated gains by Econ Power Trader are very impressive none the less. Perhaps when you read this review, you can use the link below to visit the Econ Power Trader official website and see if a real live account has been added as a part of your due diligence. I will point out that the drawdown is around 40% which may be high for some traders tastes although this can be counteracted by using a lower lot size, which of course would mean less returns. Some traders however prefer safety over huge gains.
Econ Power Trader Trading Strategy
Econ Power Trader is a fully automated forex trading system which is a forex robot that basically does all of the trading for you! You simply setup Econ Power Trader on your mt4 demo or real account (always advise to start on demo first) and it will place and manage trades for you. The Econ Power Trader is primarily a forex news trader that will take advantage of big spikes in the market around forex news releases. Most importantly when using a forex trading strategy like this is too have a broker with the lowest possible spreads and slippage as the spreads and execution speeds can increase dramatically during news releases. I highly recommend using an ECN forex broker for the best possible trading conditions and to increase your chances of success using the Econ Power Trader robot. Econ Power Trader uses Adaptive Intelligent News Trading Technology (AINTT) using a tight stop loss and making a greater amount of pips from a winning trade than a losing trade which gives a favourable risk to reward ratio. In a nutshell, Econ Power Trader is a news straddle trader. It strategically identifies high impact news for any given day, then will utilize pending orders above and below the current price action. Econ Power Trader uses no dangerous grid or martingale money management strategies.
Econ Power Trader Back Testing
Due to the nature of the news trading incorporated by Econ Power Trader is near impossible to get accurate back testing results as the market conditions around news releases is highly unpredictable. Even with real tick data, real spreads and real slippage it would be almost impossible to mimic market conditions when news is released, not to mention you would need a ton of historical news data with the correct time stamps for the tick data you are testing. I believe these factors go towards why the LeapFx team do not have back tests for Econ Power Trader, however they do have live myfxbook verified accounts that we can refer to in order to gain some idea of what to expect with this forex robot.
Econ Power Trader Live Results
Econ Power Trader Summary
Overall, Econ Power Trader has huge potential to take advantage of trading around news releases provided you are using a very good ECN forex broker that has the best possible trading conditions required to make news trading a success. The market can move FAST and FAR during news releases so I would personally start with very small lot sizes to test the waters with Econ Power Trader. Full support, updates, detailed instructions and a money back guarantee are included.