In this post I will be reviewing the Forex Transformer automated forex trading system. This is a forex robot for the MetaTrader 4 trading platform that trades for you completely automated. You just simply set it up in 5 minutes and let it do the work then check back to see how it is performing. A big selling point seems to be the fact that it made $19,000 in one trade in one day. Well, this could be achieved with large lot sizes and we would need to know more about the winning rate and risk to reward ratio before drawing an accurate conclusion from such claims. In saying that the example shown on the website was using a reasonable 2.4 lots so even if you used a fraction of these lot that would still have been a good winning trade. Forex Transformer was created by two developers; they give it the nickname EMMA which means Expert Money Management Analyzer. They state that it can work on all currency pairs but works best on the EURUSD 15 minute timeframe. Therefore I would suggest sticking to this currency pair, especially considering that it has the lowest spread and plenty of liquidity. This will give you fast execution and lower trading costs.
Forex Transformer Trading Strategy
Forex Transformer is ready to use right away with the default settings. You just need to adjust the lots/risk to a suitable level for your requirements. You then load it onto the EURUSD m15 charts and it begins looking for and managing trades with the built in money management system. I feel that the fact it trades on the m15 timeframe means that it does not scalp just a few pips so therefore is not broker dependant but in any case you should ensure that you are a using a true ECN forex broker for the best execution and spreads. It is able to adapt to both ranging and trending markets which is backed up by the tests on the websites that cover a variety of different market conditions. Some results on the website show a $10,000 deposit turned into over $30,000 in just around 1 months’ time with a reasonable lot size of 1.
Forex Transformer Back Testing
There are back tests provided on the Forex Transformer website. Looking further into this forex robots performance it does have a win rate of around 76% with the average loss trade not being far off the average win. In most scenarios we would want the average win to outweigh the loss but with such a high win rate this can be considered an exception to the rule. The original deposit was $10,000 and it ended up over $300,000 in profit. The consecutive wins are 5 and consecutive losses just 1. The modelling quality is 90% so I would prefer to have seen 99% modelling quality using tick data, real spreads and commission as this can have an adverse effect on some forex robots.
Forex Transformer Live Results
To see the latest live verified trading account performance of all forex robots please visit my best forex robots results page.
Forex Transformer Summary
I honestly feel we would need more detailed live forward tests or back testing statements before coming to an accurate conclusion on Forex Transformer but that being said I still feel it has good potential and provided it is used with the optimal settings I believe it could make some decent trading profits. It does however come with a no questions asked 60 day money back guarantee so you could try it on demo and see how it performs for you – risk free. It does come with full support, lifetime updates and detailed instructions for a quick and easy setup.