In this post I will be reviewing the Strike FX forex robot. This is another automated forex trading system developed by Argo Labs. These developers have been around for a while and have an ever growing portfolio of forex robots. This is one of their latest releases and at the time of me writing this review has made an impressive return on investment of around 100% in just a few months with relatively low drawdowns. Strike FX is suitable for novice and advanced traders – see below reference to the martingale nature of this forex robot! It includes easy to follow instructions for quick setup. As with most forex robots it is a complete set and forget automated trading solution.
Strike FX Trading Strategy
StrikeFx is a multicurrency martingale Expert Advisor (EA). Martingale strategies can be dangerous if not used correctly so ensure you are aware of what a martingale money management strategy is before using this EA. They can be profitable but you should use minimal lot sizes as martingale strategies increase lot sizes after a loss to recover. The aim of the developers was to answer the questions of those traders who do like to use martingale based systems – the question was can they develop a martingale system that is safe and will not destroy the account. Judging by Strike FX’s recent and long term performance the answer so far is a resounding yes! It uses the same settings trading on multiple currency pairs which is a positive sign as it shows the developers have not over optimized it to each pair. This gives more confidence in the reliability of the incorporated strategy. The EA has a feature where you can set the maximum loss overall so it will prevent the account from going below this amount in a worst case scenario.
Strike FX Back Testing
There are an impressive amount of back tests shown on the website for 14 different currency pairs. The back tests cover a 3 year period and use the same default settings. The modelling quality is an acceptable 90% and they have made an effort to use spreads suitable for each pair on the back tests. The lots used in testing are very low (0.01) which is sensible for a martingale strategy as the compounding of lots after losses can cause them to grow high and quick! That being said, none of the 14 pairs tested over a 3 year period blew the account so as far as martingale goes this is one of the safer options I have come across.
Strike FX Live Results
To see the latest live verified trading account performance of all forex robots please visit my best forex robots results page.
Strike FX Summary
Overall, Strike FX is about as safe as you will find for a martingale system. It has steadily been making real profits for a good few months now and the draw down has not even been that high for such a system. If you are happy with using such a system then you can make some nice profits with Strike FX and the Argo Lab support team are very knowledgeable and helpful. It comes with full support, licenses, lifetime updates and a money back guarantee.