In this post I will review the Econ Power Trader forex robot by the LeapFx development team. I have reviewed other LeapFx software which you can see in my forex robot reviews.
This is a fully automated forex trading system that runs in the popular MetaTrader 4 (MT4) platform which is free to download. It can place and manage trades on behalf of the user.
In order to use this forex robot, you will need a trading account with a forex broker. With so many brokers to choose from, I have conveniently compiled a list of my best forex brokers to help you quickly and easily choose a broker that meets your needs.
Econ Power Trader Trading Strategy
Econ Power Trader is a fully automated forex trading system which is a forex robot that basically does all of the trading for you! You simply setup Econ Power Trader on your MT4 demo or real account (I would always test on demo first) and it can place and manage trades for you.
The Econ Power Trader is primarily a forex news trader that will tries to take advantage of spikes in the market around forex news releases. Most importantly when using a forex trading strategy like this, I would want to have a broker with the lowest possible spreads and slippage as the spreads and execution speeds can increase dramatically during news releases. I would be using an ECN forex broker for the best possible trading conditions with the Econ Power Trader robot.
Econ Power Trader uses Adaptive Intelligent News Trading Technology (AINTT) . In a nutshell, Econ Power Trader is a news straddle trader. It strategically tries to identify high impact news for any given day, then will utilize pending orders above and below the current price action. Econ Power Trader uses no grid or martingale money management strategies.
Econ Power Trader Back Testing
Due to the nature of the news trading incorporated by Econ Power Trader is near impossible to get accurate back testing results as the market conditions around news releases is highly unpredictable. Even with real tick data, real spreads and real slippage it would be almost impossible to mimic market conditions when news is released, not to mention you would need a ton of historical news data with the correct time stamps for the tick data you are testing. I believe these factors go towards why the LeapFx team do not have back tests for Econ Power Trader.
Econ Power Trader Live Results
To see the latest live verified trading account performance of all forex robots please visit my best forex robots results page.
Econ Power Trader Summary
Overall, Econ Power Trader has huge potential to take advantage of trading around news releases. It would probably need the best trading conditions required as it is a news trading robot. The market can move rapid during news releases. Full support, updates, detailed instructions and a money back guarantee are included with Econ Power Trader.