In this post I will be reviewing the automated forex trading system EXTRAEDGE FX EA for the MetaTrader 4 trading platform. For those of you who do not know, an EA is another term for an expert advisor which is basically the professional term for a forex robot or automated forex trading system. This another addition to the commercial forex robot market that has real live verified account results currently showing us an impressive monthly return average of more than 70%! This is with a profit factor of almost 5 which when you consider any profit factor greater than 1 means it’s a profitable trading system, then this one has huge potential. Although, it has only been running just over 30 days at the time I am writing this review so make sure that you check the latest results of the EXTRAEDGE FX EA on my best forex robots page.
EXTRAEDGE FX EA Trading Strategy
The EXTRAEDGE FX EA trade the EURUSD & GBPUSD currency pairs with a good risk to reward ratio of almost 1:2 which means that a win is almost twice as much as a loss. With such a ratio you would only need to be correct 50% or even less of time and still make profit! Considering the win rate is around 75%, thus far the statistics are very favourable for EXTRAEDGE FX EA. The average trade lasts around 10 hours so it is not an aggressive scalper and for best results as I always say, please use a true ECN forex broker. This will give you the best possible trading conditions including low spreads and lots of liquidity for super-fast trade execution – especially on the major pairs such as the EURUSD & GBPUSD. It has also shown to be low risk with minimal drawdowns so far. You can customise the lot size you wish to use from the EXTRAEDGE FX EA settings.
EXTRAEDGE FX EA Back Testing
There are no back tests on the EXTRAEDGE FX EA official website but not to worry, we have the real live verified account results to follow which are doing great as I type this although admittedly it has only been just over a month.
EXTRAEDGE FX EA Live Results
To see the latest live verified trading account performance of all forex robots please visit my best forex robots results page.
EXTRAEDGE FX EA Summary
Overall, the EXTRAEDGE FX EA has great potential and is suitable for forex traders of all levels – both beginners and advanced traders. The more advanced can even optimize EXTRAEDGE FX EA in the MetaTrader 4 strategy tester to try and find the best possible settings fr other currency pairs and/or timeframes that you may want to trade in addition to the recommend 2 major pairs – EURUSD & GBPUSD. If that is too much for you to understand, don’t worry – it is also ready to use out of the box with the default settings and includes detailed instructions, full support and even a money back guarantee. You can try it on a demo account for a while to see if it is suitable for you before going live and judging by the results so far, it can make some good gains – fully automated!