In this post I will be reviewing the Forex Gump EA for the MetaTrader 4 trading platform which is free to download and the forex trading platform of choice for many forex traders and forex brokers worldwide. Forex Gump EA is an Expert Advisor which is basically a forex robot that will place and manage trades for you automatically provided you have it running on your demo or real MT4 trading account. You simply set it up and check back to see how it has performed, thus making it suitable for novice and advanced traders. I would recommend that you check the Forex Gump EA latest performance on my best forex robots page to see how it is performing these days.
Forex Gump EA Trading Strategy
The Forex Gump EA runs on 9 currency pairs (AUDUSD, EURCHF, EURGBP, EURJPY, EURUSD, GBPUSD, USDCAD, USDCHF and USDJPY) on the 1 minute Timeframe. You may choose to trade all or a select few of the currency pairs. I personally prefer to trade the major currency pairs as they can have lower spreads and less slippage due to their high liquidity.
As the Forex Gump EA trades on the 1 minute charts, I would ideally want to use a good ECN forex broker for the best possible trading conditions.
The Forex Gump EA uses a combination of trend filters, price action and a news filter. It has a high, medium and low risk mode to suit whatever your trading preference is.
Forex Gump EA Back Testing
There are no back tests on the Forex Gump EA official website. It would have been useful for potential users to see 99% modelling quality back tests using Birts TDS in the MT4 strategy tester. This could have given an idea of the historical performance but of course would be no guarantee of future performance. For the upmost accuracy, back tests can be conducted using real tick data, variable spreads and including commission, swaps and slippage.
Forex Gump EA Live Results
To see the latest live verified trading account performance of all forex robots please visit my best forex robots results page.
Forex Gump EA Summary
Overall, as the Forex Gump EA trades the 1 minute charts it could be broker sensitive. I would proceed with caution if at all when considering the Forex Gump EA as a forex robot solution. Certainly, there are better forex robots out there that have been established for a longer period of time. You can see alternative options in my forex broker reviews. Forex Gump EA does come with instructions, support and a money back guarantee.