In this post I will review the Jet Trader Pro fully automated trading system developed by the LeapFX team for use in the free and ever popular MetaTrader 4 trading platform.
In order to use this forex robot, you will need a trading account with a forex broker. With so many brokers to choose from, I have conveniently compiled a list of my best forex brokers to help you quickly and easily choose a broker that meets your needs.
Jet Trader Pro Strategy
Jet Trader Pro is fully automated which means you simply follow the instructions to attach it to your trading charts in MT4 and it will place and manage trades on your behalf. This makes it accessible to forex traders of all experience levels.
Jet Trader Pro is a forex robot for the EURUSD major currency pair only. This can be a good thing due to the fact that the EURUSD tends to have some of the lowest spreads and fast execution speeds. I find that an ECN forex broker can have some of the best trading conditions for any forex system.
It is important to be aware that Jet Trader Pro uses a grid-based trading strategy. This type of system can get messy really quickly if too many rogue trades are open and thus, grid trading is not a strategy for everyone. Please make sure that you fully understand how grid trading works and accept the significant risks involved.
Jet Trader Pro is customized to not accept unnecessary risk, but to utilize a “dynamic price protection strategy” with built in Reversal Counter Measures. This helps it to adjust to the current market conditions. That being said, I am not a huge fan of grid trading systems as more often than not I have seen them not end well.
Jet Trader Pro Back Testing
There are no back tests on the Jet Trader Pro website. It would have been useful for potential users to see 99% modelling quality back tests using Birts TDS in the MT4 strategy tester. This could have given an idea of the historical performance but of course would be no guarantee of future performance. For the upmost accuracy, back tests can be conducted using real tick data, variable spreads and including commission, swaps and slippage.
Jet Trader Pro Live Results
Jet Trader Pro Summary
Jet Trader Pro is a grid-based EA that can cause significant drawdowns due to the very nature of grid trading systems. It would be imperative to ensure you understand what a grid system is and I would only try it on a demo account to begin with in order to familiarise myself with how this particular forex robot trades. That being said, I probably would not trade it on a real account due to the risks involved. I feel that it is too dangerous for my personal taste.
Jet Trader Pro includes detailed setup instructions, free updates/support for lifetime along with a money back guarantee.