Gen X Review

by Tom Black
Gen X

Gen X is another expert advisor on the MQL5 site.

Gen X presentation

The robot was designed by Aliia Aleshkina and released on August 20, 2020. Since then, the EA has received five updates (version 1.5). The last one was on October 6, 2020. The robot was activated 15 times and downloaded for demo usage 969 times.

Gen X Price

The robot sells for $125. It’s available for a three-month rent for $60. Free demo allows us to check settings on the MT4 terminal. There’s no money-back guarantee.

Gen X: To Trust or Not to Trust?

We wouldn’t hurry with an answer, especially looking at the 2.5-star rate from 5 possible. People are unhappy with it for some reasons. Let’s check which ones. 

Features

  • The robot is a fully automated EA that works based on big data analysis and an autoregressive model.
  • It trades in the self-built price channel.
  • The autoregressive model is built using the popular K-Arima algorithm with the integration of k coefficients.
  • The robot places TP and SL levels.
  • It doesn’t use Grid, Averaging, and Scaling strategies.
  • It uses martingale to recover after losses.
  • The past 10-years backtest shows that the strategy works well.
  • It trades EURUSD, GBPUSD, AUDUSD symbols.
  • The robot works on the M30 time frame.
  • We have to use the recommended set files (?).
  • The EA must have different magic numbers on different charts.
  • The EA works only with 5-digit brokers.
Gen X parameters

TP level at 600 pips is out of place. Slippage 60, seriously? The other EAs have this parameter at 3-10, maximum 20. 

Verified Trading Results

Gen X Verified Trading Results

We have a backtest only for AUD/USD on the M30 time frame for a 20-year period. The modeling quality was 90.00%. An initial deposit was set at $10000. The total net profit has become $349M. The Profit Factor was 14.53. The maximum drawdown was 1.49%. The EA traded 1532 trades with an 87%-95% win-rate. 

Gen X Myfxbook

We had to google for this account because the dev didn’t provide it. It’s a real USD account on Hugo’s Way. It has a lack of transparency even with a verified track record. The account was created on September 17, 2020. The robot trades automatically using technical indicators with 1:500 leverage on the MetaTrader 4 platform. It reached +66.67% of the absolute gain. An average monthly gain is +27.29%, with the maximum drawdown – 16.22%.

Gen X advanced statistics

The EA closed 24 deals with a good number of pips (483.7). An average win (45.31 pips) is just a little less than an average loss (-55.32 pips). The win-rate of a BUY direction is 55%, of a Short one is 86%. An average trade length is almost a day. The Profit Factor is 2.62.

Gen X trading results

As we can see, the EA had better luck to find trades on EUR/USD and GBP/USD pairs. Most of the profits were provided by GBP/USD (234.2 pips).

Gen X trading results

EA trades closing an Asian market and high impact news of a European session.

Gen X trading results

Tuesday and Thursday the day of the most opened trades.

Gen X trading results

The EA works with incredibly high risks to the account balance. It has to lose just two deals to lose 10% of the account.

Gen X trading results

As we can see, the EA can close deals even if they don’t reach TP and SL levels or they were closed manually.

Gen X monthly gain

The robot trades unpredictably.

High Drawdown

Gen X High Drawdown

The robot trades with high and consistent drawdowns because deals are kept on the market for many hours.

Vendor Transparency

Gen X Vendor Transparency

First, the MQL5 account doesn’t have a link to these results. Second, myfxbook-account doesn’t have a proper level of transparency.

Gen X Vendor Transparency

The developer has just a single product in her portfolio, and she isn’t registered as a signal provider.

Testimonials and mentions

Gen X Testimonials and mentions

People’s feedback varies depending on experience. Many notice that martingale trading is risky on a brand-new EA.

Gen X Testimonials and mentions

The same experience we have here. People lose much in the short term because of martingale.

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