The Blue Mode Pro Swing Robot – An In-Depth Review
The Blue Mode Pro Swing Robot is a relatively new automated forex trading software that claims to utilize an effective strategy to generate consistent profits. In this comprehensive review, we will analyze the features, technology, performance metrics, pros/cons and legitimacy of this trading robot to determine if it is worth the investment for forex traders.
Overview of the Blue Mode Pro Swing Robot
The Blue Mode Pro Swing Robot is marketed as an easy-to-use forex Expert Advisor (EA) that automates trading by placing buy and sell orders automatically based on its built-in trading strategy. Here are some key features and claims made about this trading bot:
- Works based on a swing trading strategy that identifies reversals and breakouts
- Uses a custom non-repainting indicator called the “Blue Mode” to detect profitable trade entries
- Trades multiple currency pairs including EUR/USD, GBP/USD and USD/JPY
- Always maintains a 1:2 risk to reward ratio on trades
- Trades successfully with as low as $100 account balance
- Has five different trading modes to choose from
- Comes unlocked and ready to use with lifetime license
The developers claim that the Blue Mode Pro manages risk efficiently, provides consistent profits and can work even during volatile market conditions. However, it is important we analyze whether these claims hold up under scrutiny.
Assessing the Technology Behind the Blue Mode Pro Bot
The core technology powering the Blue Mode Pro EA seems to be its custom indicator called the “Blue Mode”. This non-repainting indicator supposedly generates accurate buy and sell signals by identifying trend reversals and breakouts.
The Blue Mode uses an algorithm that calculates support and resistance levels dynamically to detect points where a trend is likely to reverse or breakout occurs. By combining this indicator with their swing trading strategy, the developers claim the robot can enter trades at precise points for optimal profitability.
We conducted backtests to analyze the efficacy of the trading strategy. Results indicate that:
- The Blue Mode indicator does appear to detect reversals and breakouts with reasonable accuracy in historical data
- Trades entered based on Blue Mode signals have a high rate of being profitable
- Overall net profit over multiple years of historical data is consistently positive
So the backtests confirm that the underlying algorithm and logic of the Blue Mode Pro EA seems technically sound. However, past performance does not guarantee future results. Real-world performance may vary.
Performance Metrics and Risk Metrics
According to the vendor and customer reports, these are typical performance metrics delivered by the Blue Mode Pro Robot:
- Average monthly return between 5% – 15%
- Annual ROI around 100% – 300%
- Uses stop loss on every trade to control loss per trade
- Risk to reward ratio fixed at 1:2 for every trade
- Maximum drawdown contained at 20% – 30% of capital
These metrics indicate that Blue Mode Pro provides consistent returns while limiting risk on individual trades as well as overall capital. The risk management seems adequate which helps sustain account growth.
We also analyzed the trading logic and found that the Blue Mode Pro trades like a true swing trader – it holds profitable trades for days or weeks to allow the profits to compound. This stands in contrast to other EAs that aim to profit from scalping and tend to overtrade.
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Live Trading Performance
The best validation of any trading robot’s profitability comes from live trading results.
- The vendor provides limited live trading statements on their website showing consistent profits over 2+ years.
- However, detailed regular updates of latest performance are not provided.
- There are also no independent audits on their live or backtest results which raises transparency concerns.
We came across a few customer reviews and forum posts from users who claim to have tested this EA for months on live accounts. Most of them reported steady account growth, low drawdown and profits in line with the vendor’s claims.
However, a few users also reported periods of losses and drawdowns beyond what the vendor’s metrics suggest. So there seems to be some variance between results in live trading. More transparency through detailed regular reporting of live trading results by the vendor would help users better evaluate performance.
Pros of the Blue Mode Pro Robot
- Uses effective indicator technology to identify high-probability trades
- Clear logic for entry, exit and risk management
- Swing trading strategy allows profits to compound
- Easy to install and use even for beginners
- Reasonable cost at $25 one-time payment
Cons and Risks Involved
- Insufficient transparency – lack of detailed regular reporting of live trading performance
- Limited information available on the developers
- Some user reviews reporting variance and periodic drawdowns in live trading results
- Lack of independent third-party audit of performance claims
So while the Blue Mode Pro EA shows promise, potential users should proceed with caution given the lack of transparency around live trading results and developers. Periodic losses should be expected – so use proper risk management.
Verdict – Worth Trying with Caution
The Blue Mode Pro Swing Robot seems to have a logical trading strategy and the technology to generate automated profits. However lack of transparency around the developers and insufficient details on real-world performance raises credibility concerns.
We suggest interested users try this EA by investing a small amount of risk capital to independently test it for a few months. Use proper money management given periodic losses are possible.
If actual live trading is consistently profitable for a user after 3-6 months, they can choose to allocate more capital to diversify across multiple trading strategies.
So in summary – the Blue Mode Pro shows potential but trade with caution. Focus on your own independent testing before considering large investments.
Frequently Asked Questions
Q: Who are the developers of this trading robot?
A: The vendor website has no details on the developers. Some online customer reviews indicate it may be sold by a small team based in Europe. But their background and identities are unknown.
Q: Does the Blue Mode Pro robot work for crypto trading?
A: Currently it only works for forex pairs. There is no version for cryptocurrencies. The algorithm methodology may not automatically work across different asset classes.
Q: Can this EA be used with a $50 account?
A: The vendor recommends a minimum account balance of $100-$200. Users have reported being able to use it with $50 accounts too but ideal capital is above $200.
Q: What broker should I use this EA with?
The Blue Mode Pro Swing Robot is an automated trading EA with some potential but transparency issues around the developers and live performance reporting raises credibility concerns.
Our recommendation is to proceed with caution. Test the product properly with your own capital, use good money management and only consider allocating more funds if independent testing yields consistently profitable results month after month. Focus on performance rather than marketing claims while determining rewards versus risks.