Today’s review will be about Speed Magic New that was published by Volha Loyeva on March 1, 2020.
The current version has been 25.0 since October 10, 2020.
Speed Magic: To Trust or Not to Trust?
We’d like to see trading results first before making this decision. The developer shared no trading results within the MQL5 community. So, we have to google for them.
Let’s take a look at the robot’s features:
- The robot trades fully-automatically on the Metatrader 4 platform.
- The system has aggressive parameters (?) and an aggressive hedge system.
- It doesn’t use Grid or Scalping trading strategies.
- The system calculates market conditions to get in and out of trades depending on market conditions.
- It was originally designed for EUR/USD on the H1 time frame.
- The strategy is based on opening orders. It looks like it is another Grid strategy.
- Set files vary depending on aggressive or conservative modes of trading.
- It sounds like a good joke because the developers’ account has got +24% of the gain since August 2020.
- The system was designed for big profits with little risks at the same time.
- We can customize only the most important parameters of the system. The rest, it does for us.
- We have to use spread at no more than 18-20 pips.
- For trading aggressively, we have to set Stop Loss at 10%-20%.
The robot costs $99. There’s a free demo option for those who want to check the EA’s parameters in the terminal. There’s no money-back guarantee.
Verified Trading Results
We have a screenshot of the EUR/USD backtest on the H1 time frame. The initial deposit was $100. The leverage was 1:500. The total net profit has become $10,3M. The maximum drawdown was 26.16%. The profit factor was 3.35, with 2.32 of the recovery factor. Speed Magic closed 690 deals with an 83%-85% win-rate.
We have a real USD account on Fort Financial Services. The EA uses technical indicators and trades automatically with 1:500 leverage on the Metatrader 4 platform. The account has a verified track record. It was created not so far ago, on August 02, 2020. Since then, the absolute gain has become +24.24%. An average monthly gain is 4.71%. The maximum drawdown is 15.59%.
Speed Magic closed 207 deals with 735.6 pips. An average win of 7.57 pips three times fewer than an average loss -21.12 pips. The win-rate is 86% for Longs and 85% for Shorts. An average trade length is one day. The Profit Factor is 6.40.
The EA trades four symbols. Most frequently traded are CHF/JPY (49 deals) and EUR/USD (109 deals). The most profitable currency pair is EUR/USD – $223.
The EA focuses on trading high-impact news during European and American trading hours.
The most-traded days are Wednesday (47 deals) and Thursday (46).
It works with little risk to the account balance.
The EA places weird Stop Levels. If something goes wrong and it stops performing, a trader loses an account for hours. It may happen if the EA is attached to the home PC and there’s no light or internet, so the robot can’t care about open deals.
The robot provided less and fewer profits compared with the start months.
The EA trades without huge drawdowns, trying to close the deals asap.
FX Urban Group is originally from Belarus and has an okay rating (8163). The profile has two accounts with signals and nine products.
Testimonials and mentions
The EA has a five-star rate with a purchasing frequency of six copies monthly.
There are many positive comments from those who bought the EA.
The developer provides answers as quickly as possible.