In this post I will review the Star Trader fully automated forex trading robot that runs in the MetaTrader 4 (mt4) trading platform. This is another forex robot developed by the LeapFx team who have a successful track record of producing forex expert advisors to retail forex traders. Star Trader aims to produce around 400% of profit gains per year which is a very high percentage, in fact, even a fraction of those kind of gains would be very profitable especially considering it is a hands-off fully automated trading system. You simply download Star Trader, follow the instructions to set it up on your mt4 trading account, specify the lot size you wish for it to trade and let Star Trader do all of the hard work for you. LeapFx claim that Star Trader can generate 500-1000 pips per month which in theory is a fantastic amount. Star Trader performed well through many market conditions and thus is adaptable whatever the fundamental factors may be, such as Brexit or the financial crisis of the past. The real live verified by myfxbook account are more modest, showing a gain of around 20% in a few months on a real account which isn’t too bad and is using the conservative mode rather than the more aggressive mode which of course carries more risk. You can trade the mode that suites your trading style for peace of mind.
Star Trader Trading Strategy
Star Trader has different trading modes build in, including a conservative mode for those more cautious traders amongst you. The conservative mode looks to target around 2.5% gains per month with low risk. Some banks pay this in a year (if that) so you can imagine how good it would be if Star Trader managed to consistently reap those kind of percentage gains without needing to risk a lot of your capital. Of course, trading will always carry an element of risk but if you want mid-high gains, you have to be prepared to take risks with forex trading whatever manual or automated trading system you are using. The higher risk mode claims that Star Trader can generate from 200-400%+ profits which of course is an insane number but the myfxbook accounts and verified results on the Star Trader site show that this has been possible for Start Trader historically. Star Trader runs on the popular currency pairs the EURUSD and USDJPY with low draw downs around the 10% mark and a very high profit factor meaning that the wining trades greatly outweigh the losing trades. The beauty of trading these popular currency pairs is that they have high liquidity most of the time which will give low spreads, low slippage and thus save you on your trading costs and increase chances of profitability. Of course as always, you should use an ECN forex broker for the best possible trading conditions. Star Trader is based purely on RSI & CCI, trading overbought & oversold zones on higher time frames aligned with the current macro trend.
Star Trader Back Testing
The Star Trader official website does contain tick data back tests performed in mt4 strategy tester although they have used low spreads, I would have preferred to have seen real tick data tests using Birts TDS with real variable spreads and slippage / commission included for more accurate results. The back tests go back a few years so again, I would have liked to have seen back tests over a longer period of time, especially to cover some previous financial crisis. That being said, the back tests are backed up by real live verified by myfxbook live accounts.
Star Trader Live Results
Star Trader Summary
Overall, Star Trader is a decent forex robot with a short but steady proven track record. The fact that LeapFx have multiple forex robots shows that they know the industry well and have many years experience in providing automated forex trading systems. You are free to test on a demo account to begin with but just be aware that trading conditions on most brokers will differ from demo to live accounts due to the price feeds / liquidity. You will often get lower spreads and faster execution on a demo trading account. Star Trader includes full support, instructions and a money back guarantee.