Dara.trade is the website where a Forex expert advisor called Dara is hosted at. We are interesting in finding out whether Dara Trade is a reliable or scam Decision Aiding Robo Advisor (DARA). Details of my findings have been published in this Dara Trade review, and you can grab a cup of coffee, relax and know the truth.
The developer wants you to know that Dara works wonders and if it doesn’t, they’ll honor the 30-day refund policy.
Additionally, the slogan of the page says Dara is your trading partner, and will unlock your true potential. It is allegedly the new ingenious way to trade Forex and Crypto currencies.
We feel that this statement is a bit exaggerated and odd because we know a few good developers who have really worked hard and have even programmed good expert advisors which are also coded with dozens of trading strategies. So this is not a new thing in my observation.
So right now we are going to explore the EA in details and also talk about the owner a little bit.
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This project is owned and operated by a Ivo Luhse. We were able to fish him out on Twitter because it’s my job to investigate the person behind a website selling trading products like expert advisors, signals etc.
Even if a developer is shady and wants to hide from me somehow, I snoop out information like where the server of their website is hosted at, and most importantly, other past projects which they have undertook or are running parallel to the current one.
We do this for Dara Trade because the truth is that we just want to do help a trading vendor by giving them the right exposure. But this is not easy without having sufficient info about who the vendor behind the product is.
Ivo is operating the Dara Trade project from Ireland. He is also the owner of Evestin Forex. So Dara Trade is the latest project and we also think that he has re-branded his old Forex robot offering with some new features here and there.
There is a member’s login button on the site which suggests that this is a membership site as opposed to a marketplace where you buy an expert advisor without having the chance to interact with the developer thereafter.
There are 6 expert advisors in total, each having a number of trading strategies which can be leveraged upon to get a desired result. These expert advisors from Dara can be semi-automated of fully automated once installed in the MT4 software.
Dara expects traders to select what pairs they want to trade, whether that’s in Forex or Crypto currencies. So this tells me that these strategies are somehow not optimized for specific markets, and the trader needs to do that job for himself.
Also, if there are 6 trading strategies, it suggests that they are not all viable with respect to the number of trade-able assets available for Dara.
Therefore, when you purchase Dara or a similar robot, you have to do the heavy lifting because it involves testing to establish which trading strategy goes with which asset and vice versa.
In fact, Dara Trade has stated that they are even providing trading room access and live webinars to educate traders on which strategies are the best.
The 6 trading strategies/expert advisors available for Dara are as follows:
Satoshi is basically reliant on the Japanese Candlestick patterns. Sentiment is focusing on currency strength. Crypto is for trading Crypto currencies and we believe it is optimized for market conditions synonymous with the Crypto trading environment. My Way is designed to follow Japanese Candlestick patterns as well.
My take is that when a developer is offering so many trading strategies in one product, it is very difficult to focus on optimizing all of them. If developers are having trouble optimizing one strategy, then I don’t think optimizing 6 different strategies will be a feasible thing to do.
There are two plans, a premium and free plan respectively. Algo master plan costs $99 per month while the free plan is designed for beginners who want to improve their trading experience at no cost.
But this free plan has not been covered properly as there is no real information to describe what it is and how it works. It seems like a marketing stunt to attract more clients.
So the $99 per month is the real deal here because it gives access to all the trading strategies, live webinars and trading rooms.
We don’t want to think Mr. Ivo Luhse is a turd. We want to think that he is a good guy with a credible track record of developing helpful products that work. But if we consider the fact that he shows me zero trading results on his site, we are forced to think otherwise.
In fact, we are beginning to think that if Ivo cannot provide me with evidence of the existence of a live account so I can tell my audience that he really puts to practice what he preaches, then he is clearly joining the bozo manifold of developers who come to this market because they want to make a quick buck and not because they want to help traders.
With zero trading results, I don’t fucking get it when a developer insists on charging $99 per month. This is when it gets ugly for me, and I’d like to see more transparency from Ivo because this is the impression we got when we first landed at Dara Trade.
Is Dara Trade expert advisor worth it? We don’t think so because there is no performance evidence. How can traders trust a vendor who is apparently more into selling and less into enabling transparency? In my opinion, such guys are part of the problem in the massive investment Forex and Crypto trading fraud. Stick to these recommended trading tools.
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