Today I will be reviewing the interestingly named “Killa Gorilla FX Master EA”, which is an automated trading system developed for the popular MetaTrader 4 platform. The developers have been continuously working on this particular product since 2015.
One of the key things to point out before we get started on this Killa Gorilla Review, is that this is a free forex robot provided you sign-up to one of the developers recommended brokers.
Personally, I am not a big fan of this strategy as it does mean you will need to go through the account opening process again, assuming you already have a forex broker. Furthermore, there is a chance that the developers recommended brokers are not suitable for your own individual needs, e.g. jurisdiction, minimum deposit, trading conditions, etc.
If you are on the look out for a forex broker, please feel free to compare forex brokers using my broker comparison table.
Killa Gorilla FX Master EA Trading Strategy
The developer states that the Killa Gorilla EA is a High Frequency basket-trading robot (HFT) with a trading mechanism that is based on price-action, including elements of Martingale and Grid systems. It starts placing trades within seconds of starting. It must be said, I feel these types of trading strategies are way too risky for my taste. Whilst some traders may be aware of the dangers of basket systems, they can catch others out.
I have often seen grid or martingale trading systems end up with too many long (buy) or short (sell) trades open at any time. What can happen in this instance, is that the account can end up with a stop-out or margin call, especially if over leveraged.
Therefore, another reason I would certainly test the Killa Gorilla EA on a demo account to begin with and make sure I was well aware and happy with the significant risks associated with basket trading systems.
That being said, the Killa Gorilla EA does have built-in functionalities that attempt to protect the trading account, such as a Stop Loss, Trend Protection, Spike Protection, a News Filter, and other safety features to try and minimise drawdowns. Of course, it is impossible to completely eliminate the risk from any trading system, although some could be considered riskier than others.
The Killa Gorilla developer mentions that the trading software is designed to trade with all currency pairs, but they recommend using the EURUSD and AUDUSD because of the lower spreads and decent liquidity, the majority of the time. They go on to state that the Killa Gorilla EA is better utilised in ranging markets, so try to avoid trending pairs and trending sessions.
I would personally look to use an ECN forex broker to try and ensure the lowest possible spreads and fastest possible execution speeds at the best possible prices. ECN brokers tend to aggregate prices from various liquidity providers into a liquidity pool, giving traders the chance to get the best bid/ask prices on the market from the combined liquidity providers.
Killa Gorilla FX Master is classed as a High Frequency Trading (HFT) robot because of the number of trades it opens. It opens trades almost immediately from starting the robot and can open 100’s of trades per day. In the quiet sessions when there is little activity, it may only open 1-5 trades per hour. It all depends on price movement and volatility. When the market is very active around market session opens and economic news events, the robot can go crazy, opening trades every second! This may be too much for some users whereas others may like the excitement that can come with it.
It doesn’t matter which timeframe you choose for the chart that you wish to run Killa Gorilla FX Master on. It is designed to work just the same on all timeframes and will have no impact on its performance.
Killa Gorilla FX Master features a built-in Info Panel which is displayed on the currency chart showing live statistics of its trading performance, including valuable information such as:
- Net Profit
- Profit made in the last hour
- Current Drawdown
- Current Buy and Sell Orders Open (and Total Lot Sizes)
- “Close All” button to close all open trades with one click
- Various event notifications and alerts
- Upcoming Economic News Filter (High & Medium Importance)
Killa Gorilla FX Master EA Features
The Killa Gorilla FX Master EA is fully automated, meaning it will analyse the markets 24/5 looking for trading signals within the MT4 platform on behalf of the user. When it finds a valid entry according to its built-in algorithm, it will place and manage trades. This gives it a “hands off” approach but also means you have less control over your trading activity. Therefore, make sure you know what you are doing. I would start on a demo account to begin with and only set the Killa Gorilla EA to use a lot size that I am comfortable with.
As mentioned, this forex robot as with many others, runs in the MetaTrader 4 platform. The MT4 platform is free to download for desktop whilst there is also an MT4 app for mobile devices and MT4 web platform that runs directly in web browsers. However, you will need the MT4 desktop platform to run forex robots such as the Killa Gorilla Expert Advisor (EA).
Also keep in mind that MT4 needs to be up and running on your computer in order for forex robots to work. If this is inconvenient, you could always consider using a Forex VPS, which will allow you to remotely run MT4 24/7, without needing your own computer switched on.
Included with the Killa Gorilla FX Master EA is a comprehensive instruction manual and range of pre-set files designed to cater to the various needs of individual traders, depending on risk appetite and trading goals.
Some of the key Killa Gorilla FX Master EA features include the following:
- 100% FREE EA
- Lifetime Licences
- Free Version Updates
- Free Product Support
- Can Run on All Major Currency Pairs
- Includes All Settings Files
- Includes Full User Manual
- Unlimited Real/Live Account Activations
- Up to 5 Demo Account Activations
- Fully Automated Trading
- High Frequency Trading (HFT EA)
- Designed for the MetaTrader 4 Platform
- Built in Account Protection
- Detailed EA Statistics Info Panel
Killa Gorilla FX Master EA Back Testing
Unfortunately, there are no Killa Gorilla back tests provided on the official website. I would have liked to have seen how the EA performed historically when back tested over tick data on various currency pairs and with 99% modelling quality. Whilst back tests are by no means an indication of how a forex robot will perform moving forward, they can be a great way to see statistical performance of a trading system over various data sets and market conditions.
Killa Gorilla FX Master EA Verified Results
To see the latest live verified trading account performance of all forex robots please visit my best forex robots results page.
Killa Gorilla FX Master EA Summary
The Killa Gorilla EA uses a basket trading strategy which basically means that it will open multiple positions in order to try and capitalise on whatever direction the market moves. Whilst this may be a strategy that some traders have an interest in, I find it to be too risky for my trading preferences. It only takes a few trades in the wrong direction to start seeing uncomfortable drawdowns. That being said, credit goes to the developer for implementing some safety features to try and minimise the impact of such a scenario.
The Killa Gorilla EA comes with instructions and set files, thus making it ready to use straight “out of the box”. Traders are also free to adjust the EA’s inputs to settings that they feel comfortable with. Whilst this is a free forex robot, the developer requires you to open a trading account with their recommended broker in order to gain access. The developer provides free online support via email and live chat.