EA Review: Forex Ninja
Forex Ninja takes us on a trip to discover the possibilities of auto trading, and we are going along for the ride. We perform an EA review on Forex Ninja by checking out its trading strategies, stats, user reactions, and its sales page.
What is Forex Ninja?
This is a fully automated expert advisor that works on the MT4 platform. We have only seen one of its developers, and his name is Josh Fox. There isn’t much information about the robot’s creators or origin. The robot works on 24 currency pairs, and it trades intermittently. It can trade on some days and won’t trade on others.
The robot costs $399 and comes in one package. When you buy the robot, you get access to:
- Forex Ninja’s software
- One real and one demo account
- 24 currency pairs
- A detailed tutorial
- 24/5 customer support on Instagram, via email, or through their ticketing system.
EA Review: Forex Ninja
From John Fox’s explanation, we can deduce that the trader uses the take profit and stop-loss technique to trade. Other than this technique, the robot places four levels above and below the set price so that depending on the market trend, the trader still makes a profit. The robot sets these levels every day at 11 am, and by midnight, it removes these limit orders. You can even use the four levels as additional indicators for support and resistance levels.
The robot also contains a correlation filter, a trend filter, and a news filter. The news filter trains the robot not to trade when there is news that could affect trading. Correlation filtering shows how two currency pairs behave; hence traders can earn from currency price fluctuations.
The sales page contains a profit calculator built by the robot’s creators such that you can calculate expected profits within a certain period. You either need to purchase a VPS to ensure that you can trade 24/5 or keep your PC on 24/5 so that the trader can work all through.
Stats and User Reviews
We start with the bot’s sales page, which is quite state-of-the-art and futuristic. Their descriptions of how the robot works, purchasing the robot, and how to use the robot are done as videos that are much easier to understand. We were definitely impressed with the sales page.
There is no backtest on the sales page, but we are treated to a Myfxbook account posted in 2019, yet the creators haven’t posted anything on it. We can see a 258.17% gain, using a 1:500 leverage and a 29.8% drawdown.
Forex Ninja has so many positive reviews on Trustpilot. Its current rating is 4.7, which is very impressive.
We are impressed by most things about this robot. The creators’ PR game is impressive because that sales page is a work of art. How they describe the robot’s working mechanism is also another positive. Videos are so much easier to understand.
The only drawbacks are that the robot doesn’t have any backtests, and their Myfxbook profile isn’t fully completed despite being in the market for two years now. Going by how organized they seem, I would recommend trying out Forex Ninja.