In this post I will be reviewing the Esox Pattern Forex EA. It is early days with this EA whilst I write this review; it has been running just over 1 month with an impressive 43%+ return already – on a REAL account no less. There has been around an average of 10 trades per day so we are looking at a good amount of data to draw early conclusions from that this has the potential to be a long term profitable EA. It is a fully automated forex trading system developed to run on the popular Meta Trader 4 trading platform. To use a forex robot on Meta Trader 4 you do not need any previous trading experience and the Esox Pattern Forex EA includes detailed setup instructions for you to get started in around 5 minutes. The developer of this forex robot claims that it can make you stable profits every month without suffering significant losses. Of course, most developers would claim this so let’s take more of a detailed look at this particular EA.
Esox Pattern Forex EA Trading Strategy
Esox Pattern Forex EA trades on the AUDUSD, EURUSD, GBPUSD, USDCAD and USDCHF. What’s great is that these are considered “major” currency pairs so you can be sure of good liquidity for favourable execution and low spreads. This will save you on trading costs and also give an increased chance of profitability whilst being an attractive proposition for those who trade larger position sizes. Just ensure you are using an ECN forex broker as you should be with ANY forex trading system. As with all automated forex trading systems, the Esox Pattern Forex EA will automatically place and manage your trades for you whilst helping you stay in the trade for as long as possible to maximize profits. It tries to minimise losses and avoid times when the market is ranging. These are good signs as it suggests that the Esox Pattern Forex EA has a good risk to reward ratio and primarily trades with the trend – remember, the trend is your friend! It also suggests that there are no potentially risky money management strategies used such as martingale, grids or hedging. The EA has a high winning rate showing that it is accurate with no results of accounts being in the red from using it thus far. It does not rely solely on historical data (we know that history does not necessarily always show where the future will be) but instead incorporates a unique “algorithmic heuristic engine”. This means that it can basically predict the market with good accuracy without needing a ton of data or updates to do so. Sometimes, simplicity is better, which also shows that the EA keeps up to date with current market dynamics. Usefully, the Esox Pattern Forex EA displays current trading progress on your charts in a user friendly thus easy to interpret diagram.
Esox Pattern Forex EA Back Testing
There are currently no back tests on the Esox Pattern Forex EA website but we have real accounts to draw a more accurate judgement from which show the EA has started very well.
Esox Pattern Forex EA Live Results
To see the latest live verified trading account performance of all forex robots please visit my best forex robots results page.
Esox Pattern Forex EA Summary
Overall, the Esox Pattern Forex EA is a refreshing addition to the commercial market with some unique features that help it to stand out from the crowd. Whilst possibly being too early to give a final judgement on it, it has had a very promising start to its real account trading. As with all forex robots it is very easy to get started: Download, install on Meta Trader 4 and let it do all of the hard work for you. It comes with a money back guarantee, full support and lifetime updates – although, most good EA’s do not need to be updated as they are based on strategies that have long term sustainability. The only updates that are compulsory with forex robots would be those required when the Meta Trader platform has a rare major update which can affect source code. This EA is certainly worth a try even if you want to run it on demo to begin with and use the risk free trial the developer offers – if it does not perform well then nothing is lost and nothing is gained. However, if it performs as it has so far on the live account than you are on to a winner.