AlnoTrade offer automated trading systems for the MetaTrader 4 platform along with managed accounts. They have some verified myfxbook accounts where you can track performance of the various forex robots and accounts that they offer. Amongst the more prominent trading products that AlnoTrade offer are:
The dragon scalper by AlnoTrade is an expert advisor (EA) which runs fully automated in the popular MetaTrader 4 trading platform that is used by millions of traders all around the globe. Dragon scalper as the name suggests, scalps for a few pips on the GBPJPY currency pair.
The developer has shared some real live verified myfxbook accounts where you can check the latest performance of this particular forex robot. The drawdown at the time of me writing this review seems acceptable for my tastes although perhaps the trade frequency isn’t that great.
Furthermore, when using a scalping system, it is imperative to have a forex broker with tight spreads, low commissions and fast trade execution speeds. This can make the difference between the same scalping strategy being a winning or losing one. I would personally look at ECN forex brokers as I tend to find their trading conditions more favourable for frequent trading.
The AlnoTrade DAXBOT is a powerful and high frequency forex robot that runs on the 1-minute chart timeframes. It trades the DAX30 as the name suggests which helps differentiate it from your more common forex robots that trade currency pairs.
The DaxBot uses a take profit of 20 pips (points in DAX) and a hard stop loss. Traders can easily set their risk metrics as each trade has a finite loss. The strategy is easy to manage and monitor and can trade up to 10 times a day depending on volatility. DaxBot also uses a trailing stop function that activates at +15 points to lock in profit. The EA will open the earliest trade at 9am CET at market open, (does not open in pre-market). Trades are typically over quickly.
The developer states that the DaxBot uses a momentum indicator that is partnered with volume and rate of change. All 3 must line up to get buy/sell signal. This is no more crucial than an instrument such as DAX when heavy volume can create follow through buying and selling which is critical for profitable exit. A fast-moving market with thin volume has the high possibility of reversal due to weak buying/selling.
Whilst you can use the DaxBot with the default settings, you should only ever trade with a lot or risk size suitable for your trading style. Never risk more than you can afford to lose. The more experienced traders reading this may wish to experiment with different settings, trading instruments and timeframes. I would certainly use a back-testing software such as Birts Tick Data Suite to verify the historical performance on the DAX30 with real tick data, real spreads and commissions.
As previously discussed, AlnoTrade is primarily focused on forex robots and managed accounts. The core features of their automated trading solutions include:
- Trades for you automatically
- Watches markets day and night
- Built in money management
- Trailing stops, stop loss, take profit, break evens, etc.
- Trade multiple currency pairs at once
- Optimized default settings
- Quick 5-minute installation
- Micro, mini, and standard size lots
- Run on the mt4 platform
- Can be used on demo and live accounts
- Use them together or individually
- Free lifetime updates
- Dedicated customer support
AlnoTrade Verified Live Results
To see the latest live verified trading account performance of all forex robots please visit my best forex robots results page.
Overall, AlnoTrade seem to have developed some decent forex robots that are backed with real verified myfxbook accounts. That being said, I would certainly want to test them on a demo account to begin with and I would also put them through extensive back testing over a sustained period of time. The support team are on hand to answer any questions you may have about the AlnoTrade products. You can visit their site by clicking the link below. Happy trading!