In this post I will be reviewing the Forex Phasr EA. The Forex Phasr EA runs on the MetaTrader 4 trading platform and trades fully automated for you. All you need to do is just simply download Forex Phasr and set it to run on your MetaTrader 4 trading platform and it handles the trading for you – entering and exiting trades. You can even set it to run on a Forex VPS so that you do not always need to have your trading platform running on your own computer or laptop. I would personally be using a true ECN forex broker for the best possible trading conditions.
Forex Phasr EA Trading Strategy
The Forex Phasr EA allows you to set the money management to meet your requirements. It allows you to specify the lot sizes/risk to use on each trade which you should adjust according to your own preferred level of risk.
The take profit and stop loss levels can be adjusted manually from the robot inputs but the developer does provide set files so you do not need to worry about adjusting these unless of course you want to experiment with back testing optimizations and even variable setting forward tests.
Forex Phasr combines fundamental and technical analysis along with money management. Economic data such as news releases are taken into consideration and combined with candlestick patterns adds price action to the strategy from the current market conditions.
Forex Phasr EA Back Testing
The developers do not currently have any back testing results on the Forex Phasr EA website. In saying that, there is a video on the website that shows the robot running in the MetaTrader 4 strategy tester which gives you an idea of how the automated trading is conducted.
Forex Phasr 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 Phasr EA Summary
Overall, this forex robot can analyse currency pairs and place trades for you but it does have some limitations. I have conducted many forex robot reviews and there are other alternative automated trading options that I would consider over this EA. It does come with instructions, support and a money back guarantee. It should be noted that there are no guarantees on how any system will perform and historical results are by no means an indication of future performance.