In this post I will be reviewing the fxProud Expert Advisor (forex robot) that trades on the free to download and popular online forex trading platform – MetaTrader 4 (MT4). The fxProud Expert Advisor is suitable for both novice and advanced traders as it requires no manual trading on behalf of the user, you simply setup the forex robot on your MT4 demo or real trading account and it will place and manage trades on your behalf, if you want it to of course.
fxProud Expert Advisor Trading Strategy
The fxProud Expert Advisor is fully automated and thus requires no user intervention apart from setting it up in around 5 minutes using the provided instruction manual. The fxProud Expert Advisor mathematically finds the currency pairs it will be trading at any given time.
The system takes data from hundreds of possible inputs, tests the hypothesis of price fluctuation and provides outputs in terms of previous trends.
There is no hedging or scalping required and for best possible trading conditions such as low spreads, low commissions and low slippage, I would be using an ECN forex broker.
fxProud Expert Advisor Back Testing
There are a vast amount of back tests on the fxProud Expert Advisor official website for multiple currency pairs. However, these do not have 99.9% modelling quality and thus are not the most reliable of back tests in my opinion. Back tests should have been done in the MT4 strategy tester using 99.9% modelling quality with Birts Tick Data Suite – real spreads, real tick data, real slippage and real commissions.
fxProud Expert Advisor Live Results
fxProud Expert Advisor Summary
fxProud Expert Advisor is a fully automated forex trading system. You may even test it on a demo account to begin with to familiarise yourself with how it trades but I would take demo results with a pinch of salt as demo trading conditions can vary greatly from live trading conditions with factors such as slippage and spreads being different. The fxProud Expert Advisor comes with full support, updates and a money back guarantee.