In this review, we will be talking about a very expensive Forex robot called AlgoTradeSoft Innovative EA. Can you image that a license goes for $29,999, and the developer actually believes that people will buy his product?
According to the developer, this price point is justified because AlgoTradeSoft Innovative EA trades breakout on key support and resistance zones. The software uses a technology which the developer calls adaptive trade management algorithm.
On top of that, this software is said to have passed the ”stress test”, where it was subjected to real market slippage and commission.
To further justify the price point, this developer claims that this expert advisor was designed with an algorithm that contains a collection of statistics and slippage controls, all of which can be seen on the information panel. This is supposedly going to give users the power of controlling broker execution.
The developer of this robot is known as AlgoTradeSoft, and they claim that Innovative EA is the answer to the troubles that most Forex traders face in their daily operations.
And since not much is known about their new Innovative EA, we will do our best to clarify a few things. The robot is a complete mystery, given that the price is exorbitant, yet there are very good robots in the marketplace that can outperform it for a very small price, usually below $300. In fact, we have been recommending them to our readers because we feel that they are affordable, and their trade logic make a lot of sense.
? ***Want to earn money with Bitcoin and other Cryptocurrencies without the pain and hassle of learning to trade from scratch? Imagine if you could trade and get regular results with profitable performance! Are you tired of the forex and crypto scams, false promises and games out there designed to separate you from your hard-earned funds? If any of that rings true with you, then STOP EVERYTHING. ProfitFarmers is for you! With their software working as your Crypto Co-Pilot, YOU remain as the Pilot with total control over your money, 100% of the time. ProfitFarmers is a trading tool that combines artificial intelligence with the expertise of veteran traders to deliver high-probability trade plans right into your hands. There’s no need to spend hours trying to figure out what to trade! Thanks to their integration with Binance, the biggest cryptocurrency exchange worldwide, ProfitFarmers executes your trades from entry to exit, you just choose the trade signals you like, pick your entry price and then let your Co-pilot take over the rest of the journey. Stay informed about every step of your money-making journey through push-notifications on their mobile app. Now there’s no need to constantly worry about your ongoing trades, just let your Co-Pilot handle it for you! This could easily be the holy grail of trading tools. Forget paying a guru to trade for you and take a massive cut of what you earn. With ProfitFarmers there are absolutely NO COMMISSIONS OR FEES ON YOUR TRADES. 100% of what you earn is 100% yours to keep. Period. Last quarter, ProfitFarmers produced 1,357 trade plans, and more than 60% of them offered peak gains of over +8%. By joining ProfitFarmers, you’ll never be short on money-making opportunities. Still wondering if this is too good to be true? ProfitFarmers has a 100% Money-Back Guarantee if they don’t deliver profitable opportunities onto their platform. If you are ready to upgrade your trading game and instantly expose yourself to profitable trade opportunities, now is the time. Head to ProfitFarmers now to start trading the easier way, with your very own Crypto Co-Pilot.PS: ProfitFarmers is a Trading Tool. Your money ALWAYS remains in your Binance wallet, never on ProfitFarmers. 100% Verified and Recommended by Valforex.com.
On top of that, those trading systems do not depend on back-tested results. Their vendors maintain active myfxbook account which can be viewed by all prospective users.
The main trading strategy here is to look out for those crucial breakouts which do happen at support and resistance zones.
The strategy used by the Innovative EA trading system risks 20%, meaning that it takes a risk reward ratio of 1:5. Well, conventional wisdom says that this is completely acceptable. So we don’t have any issues with that statement so far.
The developer also says that the robot applies ”adaptive trade management algorithm” when open and closing positions. We do not know what this technology really means. However, if we guess the meaning, then we can deduce that it probably means that Innovative EA usually re-assesses the situation and probably close positions even before TP or SL is hit. This is highly dependent on the conditions of the market.
The phrase ‘adaptive’ should have this meaning when used in relation to trading.
We also managed to take a look at their myfxbook account. Unlike most robots at MQL5, this one has a real My FX Book account — which is a good step forward. It only means that things could change because vendors are now considering the best way to show results to their prospective customers.
On the downside, a big portion of their my fx book account remains hidden. Obviously when a developer hides certain elements from public view on their my fx book account, it only means that they are being dishonest. Lack of transparency is one way of saying that you should not trust this developer. Truth is, Innovative EA could be a dangerous trading system in disguise, and may not be worth the price tag which they are selling it for.
However, despite hiding some crucial elements in their myfxbook account, we still managed to take a look at the average length of time that their trades were running for.
According to this estimate, this figure stands at 10 seconds. This means that it is a scalper that enters and exists trades faster than you’d imagine. It probably explains why the Innovative EA is not on copy trading networks like Zulu Trade. Due to the short time span that trades are opened and closed, there would be a huge risk of not being able to follow trades in time.
Secondly, this may also lead to another possibility with this system. Perhaps AlgoTradeSoft has negotiated for a much more favorable spread with the particular broker which they are recommending. In return, they would place large volumes of trades in a short period of time. This also explains why Innovative EA was able to make such a huge return in a short time.
Usually, scalpers do make such profits in a short time. But the risk of blowing accounts is very high under such circumstances because they often use high risk settings to make more money quickly.
Speaking of returns, let’s see how Innovative EA has been performing in the history section.
Even though this robot’s activities have been tracked on a verified my fx book account for close to two years, it still appears that the vendor was not willing to let us see every single detail of their My FX Book account. Why?
It is also worth noting that the account that the Innovative EA is trading is held at FXCM broker. This account has had a lot of deposits and withdrawals at the same time. What this means is that calculating the accurate value fore returns is nearly impossible due to those transactions.
The absolute gains for this account was 1500%. The growth curve has been illustrated as below. It is relatively smooth so to speak. The DD percentage is surprisingly very low.
While bigger returns do come with bigger risks, it appears that this vendor is not agreeing with that principle. Why? Because in as much as Innovative EA is making huge profits in a short period of time, draw down is slightly above 10%, which is the lowest we have seen in this industry. This discovery invokes the feeling of being too good to be true.
However, this EA struggles in the parameter of average pip per trade. This figure currently stands at 0.9. The reason why the average pip per trade is 0.9 is because it scalps for a very short time.10 seconds is a very short time so to speak.
You should proceed with caution because generally, systems that have less than 3 pips per trade are bound to fail. This one is at 0.9, which makes us doubt its viability in the long run.
This is a very costly robot. You can buy a license of the Innovative EA for the cost of $29,999 which we believe is beyond the reach of many struggling traders.
To purchase this robot, one must contact the vendor directly. It also appears like this vendor is offering a PAMM system, which could explain why they have such frequent deposits and withdrawals. But as we have hinted before, copying trades from the Innovative EA will not be possible due to its strategy of trading.
The returns for this robot are amazing. However, the problem sets in where the developer deliberately chooses to hide information on their my fx book account.
This makes us very skeptical about the entire thing, plus the whole story sounds like a too good to be true thing. On top of this, the Innovative EA system struggles in the area of average pip per trade. Pricing is also an issue. If the developer ironed out these issues, maybe it would have attracted a big clientele.
Help Us Fight Scams. Please Donate to Support Our Work. No Amount is too Little or too Big. Thank You..
February 8, 2019 By Ghazanfar
The phrase ‘Necessity is the mother of invention’ seems true for Iran. This is because Iran has unveiled its own...
February 8, 2019 By Ghazanfar
In spite of long bear market, Bitcoin transactions per day are increasing. Today the level of these transactions has touched...
February 4, 2019 By Ghazanfar
Although bear market in crypto world is extending, yet many fiat currencies are facing the threat of destabilization. This is...
February 4, 2019 By Ghazanfar
In spite of mix signals from the cryptocurrency world about the future of cryptocurrencies, many countries are planning to test...
February 3, 2019 By Ghazanfar
The idea of Bitcoin adoption as an international currency is not at all new. Over the years, many financial experts...
February 2, 2019 By Ghazanfar
Bitcoin’s entry into the longest ever bear market in history is one of the most burning issues of today. The...
Valforex.com will not be liable for any damages incurred due to the usage of any information displayed on this website. The information and trading guides found on the website constitute the authors’ opinion only. Trading Forex, Binary options and Cryptocurrencies involve high-risk and are not suitable for all investors. Online trading in general, may not be legal in your jurisdiction. It’s visitors’ responsibility to make sure these entities are legal in their jurisdiction before engaging in trading activity. All trademarks, images and logos that appear on this site are copyrights of their respective owners and have been used under the Act of Fair Use.