The Powerhouse EA is described as one of the most advanced auto-trading EAs being sold to retail traders. Ostensibly, it is able to employ trading techniques and mechanics that other Forex robots cannot. Setting the EA up is easy, and each strategy incorporated into it features a few settings to reduce confusion. You can expect to get an average monthly profit rate of 5% while trading with the tool, according to the vendor.
Powerhouse EA: to trust or not to trust?
Powerhouse is pretty much trustworthy. As you will see in the “user reviews” section, it has a reliable vendor behind it.
Features
We have listed the features of the EA below:
- It comes with a detailed PDF manual and helpful installation videos.
- It’s only compatible with the MT5 trading terminal.
- The system includes flexible EA settings to accommodate low, medium, or high-risk trading.
- It utilizes protective stop-losses that the user can customize.
- The company provides free updates and support.
- The minimum recommended deposits for high, medium, and low-risk settings are $5k, $10k, and $20k, respectively.
- The recommended leverage ranges from 50:1, 100:1, and 200:1, depending on the settings.
Powerhouse EA uses a combination of 4 strategies derived from the Ranger, Vigorous, CBK, and Gopher. Sadly, these methods are not mentioned or described in detail. Smart filters are incorporated to supposedly enable all 4 strategies to work flawlessly to optimize profit and minimize losses or drawdown.
The current cost of acquiring this system is $497. A 30-day money-back guarantee is included, so you can ask for a refund if the robot fails to meet your expectations.
Backtest results
The EA was backested using a $6000 deposit and a leverage of 1:500. By the end of the trading period, 20091 trades were completed. As a consequence, a total net income of $234350.91 was realized. This profit figure is quite remarkable. The win rates for short and long trades were 78.41% and 78.28%, respectively. From a drawdown of 17.80%, we can tell that the system traded safely. The profit factor was 2.09.
Trading results
At this point, Powerhouse EA is being used to run a demo account on Myfxbook. The total gain achieved so far within 4 months of active trading is 31.57%. We have a monthly profitability rate of 6.09%, which confirms that the EA can make you decent profits as promised by the vendor. The current income is $1578.26, and this has caused the user’s investment to increase from $5000 to $6578.26.
The system has carried out 2010 trades with 41.63 lots. The win rates for both the long (63%) and short positions (53%) are mediocre and significantly lower compared to the ones reported in the backtest statement. There’s a profit factor of 1.94, which is fairly good. It suggests that the EA is profitable for the most part.
The vendor has not given specific details about the EA’s strategy in the presentation, but here we see that it works with the grid and martingale strategies. Though it has earned some profits using these methods, it has incurred several losses as well.
The system has generated decent monthly profits this year, though the income for January was a bit small (3.47%).
Low drawdown
Powerhouse EA has produced a small drawdown of 12.50%. However, you have to keep in mind that risky approaches (grid+martingale) are on the board. So, anything can happen and cause the drawdown to spiral out of control in the worst case scenario.
Vendor transparency
The developer behind this robot is known as Ryan Brown. He is the owner of the Responsible Forex Trading website and has been trading in Forex for some time now. Over the years, he has managed to build several other Forex solutions, which include Vigorous EA, Ranger EA, and The Comeback Kid EA. Ryan hasn’t shared any details about the other individuals he works with.
User reviews
Powerhouse EA has not been reviewed by customers yet. However, it would interest you to know that Ryan is praised on Trustpilot for creating productive trading algorithms. In effect, he has received an excellent rating of 4.6/5 based on 23 reviews. Here are a few screenshots of the reviews:
