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Forex Truck EA

Original price was: 349,00 €.Current price is: 10,00 €.

Forex Truck is a popular automated trading robot designed for the MetaTrader 4 and MetaTrader 5 platforms. It is marketed as a smart, fully automated trading system that can work with any broker. The EA trades on several currency pairs including USDCAD, EURGBP, GBPUSD, and EURUSD

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Description

Key Features

  • Lifetime license for a single account with unlimited ability to change account numbers
  • Detailed user manual and 24/7 technical support
  • 30-day money-back guarantee
  • Consists of two trading blocks that work together

Performance Statistics

According to the developer, Forex Truck has achieved some impressive backtesting results, including:

  • $377,991,626 profit from $2,000 (18,899,581% gain) on USDCAD
  • $3,781,757 profit from $2,000 (189,087% gain) on EURUSD
  • $156,894 profit from $2,000 (7,844% gain) on GBPUSD

However, it’s important to note that backtesting results do not necessarily reflect future performance in live trading.

Trading Methodology

Forex Truck employs a martingale-based trading strategy that involves:

  • Entering positions in the opposite direction of the current trend
  • Adding additional positions and increasing lot sizes when the market moves against the current position

This approach aims to generate profit from small price reversals by compounding gains. However, martingale strategies also carry significant risk, especially in rapidly moving markets.

Live Trading Results

The developer has published live trading results on Myfxbook for the Forex Truck TURBO version. As of August 2021, the account shows a gain of 1,367.26% with an 85.93% drawdown. However, the developer manually paused trading during a period of high volatility in March 2020, likely to avoid larger losses.

Conclusion

Forex Truck EA offers an automated trading solution for the MetaTrader platforms, but its martingale-based strategy carries high risk. While the developer has published impressive backtesting and live trading results, it’s crucial for traders to thoroughly test the EA on a demo account and start with small position sizes before risking real capital. As with any automated trading system, it’s essential to monitor performance closely and be prepared to disable the EA if needed.

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