Welcome to my Rev Trader Pro Forex Robot review. This is a fully automated forex trading system that runs in the popular MetaTrader 4 (MT4) platform which is free to download. It can place and manage trades on behalf of the user. 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.
Rev Trader Pro Trading Strategy
It is a fully automated forex trading system that tries to take advantage from the constant battle between the bulls and bear that causes volatility in the forex market. At a closer glance, this particular forex robot looks for large swings in the market and trades reversals from the high and low points of price action. Almost like a pivot point based system trading pivot levels as support and resistance then taking a reversal trade from these levels if they hold. It aims to filter out false signals where price does not reverse but actually breaks out and primarily trades on the 1 hour chart but uses the daily charts for signal confirmation.
Rev Trader Pro Back Testing
The developer has not provided any back testing results which is disappointing. 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.
Rev Trader Pro Live Results
Rev Trader Pro Summary
Overall, this forex robot can analyse currency pairs and place trades for you but it does have some limitations. I have conducted many forex robot reviews and there are other alternative automated trading options that I would consider over this EA. It does come with instructions, support and a money back guarantee. It should be noted that there are no guarantees on how any system will perform and historical results are by no means an indication of future performance.