The robot works by following two indicators and has a averaging system built in the code to help recover from the losing positions. It works on MT4 and MT5 and requires a minimum of $3000 to start trading. Our article here will discuss the key ups and downs of the robot so you can understand its performance and make a decision on investment.
The Comeback Kid EA: to trust or not to trust?
This Forex system only comes with backtesting results which are not sufficient to prove its performance. Backtesting does not respect real market liquidity and slippage, which can be crucial to the performance of scalpers. Therefore we can not say that the expert advisor is trustworthy to use.
The robot has the following features:
- It comes with flexible settings to accommodate any trader
- It helps recover losing positions
- It can work with almost all styles of trading
- It can trade any pair or asset
To get the robot up and running, you have to purchase the system from the developers website. After that open the MT4 or MT5 platform and place the robot within the experts directory. Refresh the experts tab and enable auto trading. After that place the EA on respective charts to begin trading.
The robot works with all instruments and trading styles. It requires only 5 to 10 minutes a day to manage the trades if traders choose to use the semi automated approach according to the developer. The algorithm is basically an indicator that shows respective buy and sell positions on the chart according to the two builtin indicators. Once trading positions are manually placed, the robot handles them accordingly.
The expert advisor can be bought for an asking price of $497.There is no money-back guarantee.
There are no backtesting results that we can use to verify the performance of the algorithm for historical data. This is probably due to the fact that the EA requires manual intervention from traders to open trades. It is quite strange as the robot could have taken signals from the indicators and done the task itself. The semi automated approach can be tough for beginners to follow.
Verified trading records are available on Myfxbook that show performance from June 16, 2021, till the current date. The system has made an average monthly gain of 5.48% during the period, with a drawdown of 2.54. The winning rate stood at 66%, with a profit factor of 1.84. The best trade was $312.78, while the worst was -$203.41. There were a total of 274 trades with 54.58 lots traded. The developer made $30674.36 in deposits and $0 in withdrawals.
The drawdown is currently low for the system however we can not take it as a final verdict as the robot has been online for a few months. It is possible that the drawdown may increase in the future.
The developers state that they have been trading the markets for over 16 years but fail to provide any proof. They do not give any information on their whereabouts and experience. This type of approach is detrimental to the robots’ authenticity.