Automic Trader EA Review: An In-Depth Look at This Automated Forex Trading Software
Automic Trader EA is an automated forex trading software created by LeapFX, a company that has produced numerous manual and automated trading systems over the years. This expert advisor (EA) claims to help forex traders generate steady passive income in the markets without requiring prior trading experience.
But does Automic Trader really work as advertised? Can it produce consistent profits with manageable risks for forex traders?
This comprehensive review will provide an in-depth and unbiased assessment of Automic Trader EA. We will examine its features, trading strategy, backtests, verified results, as well as pros and cons to determine if this is a recommended forex robot worth using.
Overview of Automic Trader EA
Automic Trader EA is marketed as a beginner-friendly automated trading system that can generate monthly profits of 20-30% on lower risk settings and 50-100% on higher risk settings.
It trades the major currency pairs AUDUSD, EURGBP, EURUSD, GBPJPY, USDCAD, and USDJPY. The EA uses a combination of technical analysis and volatility measurements to identify trend direction and determine optimal entry points.
Once in a trade, Automic Trader utilizes a dynamic trade management system to maximize profits. It comes with account protection features, detailed setup instructions, and dedicated customer support from LeapFX.
- Fully automated trading system
- Trades 6 major forex pairs
- Identifies trends using volatility and momentum
- Dynamic trade management for maximizing profits
- Beginner friendly with easy setup
- Dedicated customer support
- Free lifetime updates
- Account protection features
Automic Trader Trading Strategy
According to the vendor, Automic Trader EA is designed to capitalize on trends as early as possible. It uses a blend of technical indicators to measure volatility and momentum in order to identify emerging trends on the 6 currency pairs it trades.
Once a trend is detected, the EA will enter trades in the direction of the trend when its entry criteria are met. It aims to catch trend continuations right after pullbacks and consolidations.
The robot then utilizes a dynamic trade management system to lock in profits as the trend extends. This allows it to maximize profits from large trends while protecting capital during choppy market conditions or smaller reversals.
The EA is said to be optimized for the 6 major forex pairs it trades, which tend to trend well. By focusing on these highly liquid and trending pairs, Automic Trader aims to capitalize on long directional moves.
Overall, the trading strategy combines trend identification, optimized entry techniques, and adaptive trade management. However, without seeing detailed backtests, it’s difficult to fully evaluate the viability of the strategy.
Extensive backtesting enables traders to gauge how well an EA’s strategy may perform in different market conditions historically. Unfortunately, the vendor has not provided any backtests for Automic Trader EA.
Without long-term backtests applied across different time periods and market conditions, traders cannot fully verify the strategy’s profitability, risk management, and drawdown characteristics.
While backtests don’t guarantee future live results, they help traders make informed decisions about an EA’s expected performance and risks. The lack of backtests for Automic Trader is a notable drawback compared to other forex EAs.
Live Trading Results
In lieu of backtests, LeapFX has provided a Myfxbook verified live account tracking the real-time performance of Automic Trader EA.
- Profit: $1,913.83
- % Gain: 206.96%
- Trades: 241
- Wins: 57.26%
- Drawdown: 32.95%
- Profit Factor: 2.65
The account was started on April 7, 2021 with a $1,000 deposit. In around 7 months, Automic Trader has produced a gain of 206.96%, which equates to $1,913 in profits. It has executed 241 trades so far, with a relatively modest win rate of 57.26%.
However, the 32.95% drawdown is quite high for the timeframe. The monthly returns also appear inconsistent, with some winning months but also several losing months. The profit factor of 2.65 indicates the EA has a decent risk-reward ratio overall.
But the live results are still rather short-term. Longer-term verified results would help better determine the EA’s consistency and reliability. As of now, the returns seem mediocre given the high drawdown.
Pros and Cons
- Trades on 6 major forex pairs
- Identifies trends early
- Dynamic trade management
- Dedicated support from vendor
- Account protection features
- No backtests provided
- High drawdown in live results
- Inconsistent monthly returns
- Short verification period
- Uses risky strategies like martingale
Verdict: Use With Caution
Automic Trader EA offers some useful features like trading on major pairs, dynamic trade management, and account protections. However, the lack of backtests raises questions about the viability of its strategy.
The live results are also less than stellar, with high drawdowns and inconsistent monthly returns over a short 7-month period. Plus, the use of risky strategies like martingale implies potential dangers.
Therefore, traders should use Automic Trader EA with caution. More extensive backtests and long-term live results are needed to better verify its profitability and risks. Less experienced traders may want to avoid this EA given its high-risk nature.
For traders seeking an automated solution, EAs with long-term backtests and real track records like Forex Robotron may be a safer choice. But Automic Trader EA requires more proof before it can be recommended without reservations.
How Automic Trader EA Works
Now that we’ve assessed the trading strategy, results, and overall viability of Automic Trader EA, let’s take a look at how this automated trading system works and how to use it.
Installation and Setup
Automic Trader EA comes as an EX4 file that must be manually installed into the Experts folder of the MetaTrader 4 platform. Detailed installation instructions are provided in the user manual.
Once installed, traders simply need to attach the EA to the currency pair chart they want to trade. The inputs tab contains all the adjustable settings for Automic Trader, allowing traders to optimize the parameters.
The vendor recommends using a VPS service to enable continuous automated trading. They also advise starting with a micro account.
In summary, Automic Trader EA offers some useful features like trading major currency pairs, incorporating volatility analysis, and providing dynamic trade management. However, the lack of detailed backtests makes it difficult to fully evaluate the viability of its trading strategy.
The live results are also less than stellar, with high drawdowns and inconsistent monthly returns over a short 7-month period. While the verified track record provides some transparency, longer-term results would help better determine the EA’s reliability.
Overall, traders should exercise caution with Automic Trader EA given the risks involved. Less experienced traders may want to avoid it entirely until more extensive backtesting and live results are provided. For those willing to experiment, using small position sizes and tight risk management is highly recommended.
More proof is needed before Automic Trader EA can be recommended without reservations. Traders are best served sticking to proven, well-backtested EAs with long-term real track records. As with any EA, conducting proper due diligence is imperative before committing real capital.