In this post I will review the FXTraderKit package of forex robots that includes the Traders Moon and Traders Sun EA’s. You can purchase each EA separately or buy them together in one package. For those of you who may not be familiar with expert advisors (EA’s), these are automated trading systems that will place and manage trades on the user’s behalf. You simply attach them to your charts in the popular and free to use MetaTrader 4 trading platform and they will analyse the markets for potential trade opportunities. This makes both Traders Moon and Traders Sun suitable for traders of all different experience levels.
The developers have kindly shared real live verified Myfxbok accounts of both the robots in the FXTraderKit package. At the time of me writing this FXTradeKit review, they are making between 2-5% per month on average although the drawdown is quite high for my taste. The Traders Moon account has been running for just over 1 year and the Traders Sun account has been running for almost 4 years. Whilst these are good periods of time to make a rough judgement on the overall performance, things could have changed by the time you are reading this. Thus, it may be wise to check the latest performance of the respective EA’s on my best forex robots page.
As FXTraderKit contains 2 different EA’s the implement different trading strategies, I will try to elaborate on each of the forex robots individually.
Trader’s Moon uses a martingale money management strategy. For those of you who may not be aware, a martingale strategy involved increasing position sizes to try and make up for losses. If it isn’t obvious, this can get really dangerous really quick, especially if the market keeps going against the positions. Martingale strategies have been known to wipe out trading account, cause stop outs and margin calls. They require a certain type of trader who does not mind taking the significant risks involved with such a money management strategy.
The EA opens positions based on searching for a signal using a series of indicators (Bollinger Band, Commodity Channel Index, etc.), as well as candlestick patterns. Trader’s Moon uses filters of the number of open transactions, maximum drawdown, control of currency pairs and news background. That allows to block the entrance to the Market at the right time and reduce an overall level of drawdown on the account. The EA trades every day, but the main signal for opening orders comes only at night during the Asian session. It trades on: AUDCAD, GBPAUD, AUDNZD, NZDCAD, EURCHF, EURGBP, EURSGD, GBPCAD.
Trader’s Sun is another forex robot that runs in MT4. The strategy of the Trader’s Sun EA is based on determining support and resistance levels, as well as identifying the behaviour and direction of the Market’s movement, in order to assess the strength of the movement impulse and the probability of its continuation. Trading from levels is clearly formalized and supported by fundamental factors. On average a profitable/loss-making transaction is 38-33 points, and the average transaction duration is 200 minutes. Also, the EA has a smart Money Management. The EA does not implement any potentially dangerous martingale, averaging or hedging strategies whilst it trades on the EURUSD and USDJPY currency pairs. Trader’s Sun is aimed at both beginners and more experienced conservative traders and investors, who adequately assess the risks of Forex trading.
FXTraderKit Back Testing
Back tests of Trader’s Moon are available from 2010 on the following currency pairs: AUDCAD, GBPAUD, AUDNZD, NZDCAD, EURCHF, EURGBP, EURSGD, GBPCAD. Trader’s Moon is optimized using Birts Tick Data Suite for Meta Trader 4 software package with floating spreads and simulation of slippage. There is no mention of commissions being included which can have a significant impact on results. The historical quotes were provided by a Swiss broker Dukascopy for testing with a quality of 99%. Back tests of Trader’s Sun have been conducted using the same conditions and from 2012 on the currency pairs: EURUSD, USDJPY.
FXTraderKit Live Results
Overall, both the Traders Sun and Traders Moon EA’s have potential as shown by the real verified myfxbook results the developer provides on the official FXTraderKit website. Despite that, they both have drawdowns that may be quite high for the tastes of many traders, especially Traders Moon which uses a martingale money management system. It would be interesting to see how results have held up at the time you are reading this FXTraderKit review. I would certainly proceed only on a demo trading account to begin with if using these particular forex robots. In all fairness, the back tests have 99.9% modelling quality but the performance could be affected had commission been included within these. Both EA’s come with instructions, support, updates and a money back guarantee.