In this post I will be reviewing the Stealth Trader forex robot that is yet another software from the team over at LeapFX who have been very busy pumping put these expert advisors. As with the majority of automated forex strategies, the Stealth Trader EA can scan charts in your MetaTrader 4 platform for trading signals. When the underlying algorithm detects a setup, it can then place and manage positions on your behalf. You can even set it to semi-automated mode if you prefer. In this instance, the Stealth Trader robot will send you an alert when there is a potential setup and you can decide if you would like to manually take the trade or wait for the next opportunity to come alone.
This is yet another forex robot from the LeapFX team whose other forex software I have previously reviewed, including Funnel Trader, Trade Explorer, AX Trader, DynaScalp, News Action Trader, Jet Trader Pro, Gold Trader, Arbitron, Econ Power Trader, Automic Trader, Auto Arb, Fund Trader, Easy Money X-Ray Robot, Skilled Trader, Pattern Trader Pro, Trend Hunter Robot, The Money Tree Robot and InstantEA. You can tell from the vast number of forex products that they have available they certainly have some experience. However, many years in the forex industry has taught me that does not exactly equal results.
In this Stealth Trader Review, I will take a look at the forex trading strategy that it utilises, along with any back tests and most importantly, real live verified results. Hopefully, this will help you decide if this is a forex robot that you would like to test on your account or not.
Stealth Trader EA Strategy
The Stealth Trader EA has a unique trading strategy that looks for a daily setup on the GBP/JPY pair. I know that this pair can move like wild fire at times, so there is always going to be plenty of opportunities for trades. However, I do find it quite volatile and it does not have the lowest spreads when compared to other major currency pairs such as the EUR/USD and GBP/USD.
Historically, this volatile cross (GBP/JPY) has been nicknamed “Geppy”, “Dragon” or “Widowmaker” – due to its unrelenting volatility, huge price movements, and wide ranges, it ensures that multiple trading opportunities are generated daily. But that does mean that it can be dangerous and riskier than some other pairs.
The average Stealth Trader trade lasts around 1-hour which is supposed to keep the drawdowns to a minimum. The problem is that the GBP/JPY is so volatile, even with this short holding time, you will see that the Stealth Trader EA has had some quite significant drawdowns. This leads me to believe that there is significant room for improvements in terms of money management.
The Stealth Trader forex robot does come with default “out of the box” settings if you are just looking to get started right away. You will need to check the lot size and amend if required. This is because the default value may not be suitable for you as every forex trader has a different opinion when it comes to risk.
LeapFX have made all of the important Stealth Trader EA settings available as external inputs which is handy if you do wish to experiment with your own settings. You could always run some optimisations in the MetaTrader strategy tester to build your own bespoke set files on your favourite currency pairs and chart timeframes.
Stealth Trader EA Features
- Fully Automated Forex Systems
- Trades GBP/JPY Currency Pair
- MetaTrader 4 Platform
- Any Forex Broker
- Customisable Settings
- No Martingale or Grid Trading
Stealth Trader EA Back Testing
As I have seen all too often with LeapFX, there are no Stealth Trader back tests provided. Yes, you can argue there are real verified results, but this does not show us how the strategy may have performed over many years of historical data. Whenever these tests are not provided by a forex developer, then I have to ask myself why. Perhaps it is because the long-term performance is not as good as expected. That would just be speculating so feel free to draw your own conclusions and refer to the live results below.
Stealth Trader EA Results
I am pleased to see that the LeapFX team have been kind enough to publish and share some verified Myfxbook Stealth Trader results. This can be a good way to get an idea for how the EA has been trading in recent market conditions. Unfortunately, one of the accounts is no longer updated which is always a red flag for me. However, we do have another account to follow but the drawdown is quite high for my taste. I think there is some room for improvement in terms of money management. The chart is quite choppy so it looks like the Stealth Trader can have prolonged periods of uncertainness. To see the latest live verified trading account performance of all forex robots please visit my best forex robots results page.
Stealth Trader EA Summary
Overall, this is not one of the best expert advisors that I have come across. Primarily because I think it is limited by the fact that it only trades the GBP/JPY which can be a wild currency pair to try and tame. It would also require ideal forex broker conditions. There are no back tests provided so we cannot see how it might have performed based on historical data. Furthermore, one of the real verified accounts has been removed whilst the other is showing signs of high drawdowns.
You will get full access to the Stealth Trader System that is coded with auto optimized settings, you can simply select your desired risk. Included is a detailed manual outlining setup instructions and best recommendations to maximize performance. Help from LeapFX will always be at hand if you need any assistance. Any improvements the developers make to the software are automatically provided to you in members area absolutely free.
If you can see past all of the sales talk and claims made on the Stealth Trader EA website, you might want to give it a go on a demo account to start with. I would certainly only ever test a forex robot on a demo account to begin with. This can help you familiarise yourself with how it works and get an idea of its performance with the risk.
Stealth Trader EA$347
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.