In this post I will be reviewing the EFC EA Robot developed by the experienced trading team over at trading strategy guides. They have a vast range of manual and automated forex trading systems that I have previously reviewed. They are also frequently launching new forex trading products such as the EFC EA Robot which runs in the MetaTrader 4 (MT4) trading platform and will place, manage and exit trades for you fully automated.
You simply setup the EFC EA Robot on your charts using the provided instructions and let EFC EA Robot analyse the markets for you. Just make sure you set a sensible lot size in the robot’s settings when attaching it to your charts and that you are aware of the risks of trading online with any automated or manual trading system.
The fully automated nature of the EFC EA Robot makes it suitable for both beginner and advance traders alike. As I always say, for best trading conditions I would personally use an ECN forex broker for low spreads, low commission and low slippage, thus also saving me on trading costs in the mid to long term.
EFC EA Robot Trading Strategy
The EFC EA Robot is based on the manual forex trading strategy of the same name from the same developer. It will take reversal trades based on the EFC Reversal Indicator. It has built in money management that you cna customise to your own needs.
It will of course place the stop loss and take profit levels for you. You can use the EFC EA Robot if you are a scalper, day trader or swing trader thus it will fit around your schedule and is very flexible.
It may be used on any currency pair and any time frame. I like to use the major currency pairs like the EURUSD & GBPUSD due to the liquidity they have whilst I find the h1 charts and above can help to filter out ranging markets and noise from the lower time frames.
There is an option to purchase the EFC EA Robot with the indicator and some other forex trading tools included.
EFC EA Robot Back Testing
The EFC EA Robot official website has a back test although we should not draw conclusions from this at all because the modelling quality is very low and it is over a very short period of time. I would like to see it back tested with Birts Tick Data Suite (Birts TDS) using real tick data, real spreads, real commissions and real slippage.
EFC EA Robot Live Results
To see the latest live verified trading account performance of all forex robots please visit my best forex robots results page.
EFC EA Robot Summary
Whilst it is flexible, I would need to do a significant amount of testing and dig a lot deeper before drawing an accurate conclusion on the EFC EA Robot. I believe there should also be slightly more direction as to which pairs and time frames EFC EA Robot runs on which would be discovered by doing the back testing.
That being said, if you want to go ahead then proceed with caution and perhaps start on a demo trading account to judge its performance before going live.
The EFC EA Robot comes with instructions, bonuses, full support and a money back guarantee.