Brilliant Pro EA Review – A Powerful and Profitable Forex Robot

The Brilliant Pro EA is an automated forex trading robot that uses advanced algorithms and technical indicators to trade multiple currency pairs. In this detailed review, we will analyze its key features, performance statistics, pros and cons to determine if it is a worthwhile investment for forex traders.

Brilliant Pro EA

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Overview and Key Benefits

The Brilliant Pro EA is designed to work seamlessly on the popular MetaTrader 4 (MT4) trading platform. It can trade all types of currency pairs, making it suitable for traders with diverse preferences. The robot aims to capitalize on short-term price movements using scalping, averaging, martingale, and hedging techniques depending on market conditions.

Some of the key benefits offered by the Brilliant Pro EA include:

  • Automated Trading: The system opens and manages trades automatically based on its algorithms and indicators, removing emotional decision making.
  • Risk Management: Inbuilt features like stop-loss orders, trailing stops, and customizable settings give traders better control over risks.
  • Ease of Use: Simple download and installation process. Attaching the EA to a chart activates automated trading.
  • Scalping Strategy: Designed to capture small but consistent profits that can accumulate over time.
  • Backtesting Capability: Traders can test strategies on historical data to fine tune performance before going live.
  • Support and Updates: Includes access to an active user community and regular updates from the developer.

Performance Statistics and Returns

Extensive backtests conducted by the developer over multiple timeframes and currency pairs show that the Brilliant Pro EA can deliver steady monthly returns averaging around 3-5% with drawdowns contained to less than 10%.

These statistics have also been verified through a public MyFXBook account tracking live performance since October 2021. As of August 2022, the EA has achieved a 14.91% gain despite high market volatility.

The EA appears optimized for the popular EUR/USD pair on the 30 minute timeframe, where it has achieved the best risk-adjusted returns. But positive results have also been demonstrated on other pairs like GBP/USD.

How the Brilliant Pro EA Works

The Brilliant Pro EA combines scalping strategies alongside martingale and hedging techniques to identify trading opportunities. It uses a combination of technical indicators like Moving Averages, MACD, RSI as well as custom proprietary indicators to analyze price action.

When opportunities arise, the algorithm will open a position with a pre-defined stop loss and take profit level. If the trade moves in the anticipated direction, the TP target is achieved.

However, if price reverses against the set direction, the EA will apply its averaging and martingale logic to open additional positions in the same direction to lower the average entry price. Simultaneously, counter-trend positions may also be opened to hedge risks. Eventually, if the trend resumes, the accumulated trades help boost profitability.

The EA has been optimized to work well with most market conditions. But very high volatility periods where trends rapidly reverse can cause losses to accumulate, leading to drawdowns. Therefore, manual intervention may be required by closing trades during such times.

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Using the Brilliant Pro EA in Real Trading

The developers recommend getting started with the Brilliant Pro EA in the following manner:

Step 1: Open a demo account with a true ECN forex broker that offers low spreads and accurate price feeds.

Step 2: Download the EA file and attach it to a EUR/USD chart on the M30 timeframe. Modify the basic input settings as required.

Step 3: Run the EA in demo trading for at least 1-2 weeks to understand how it works before risking real capital.

Step 4: Open a live account with a minimum balance of $500 and minimum 0.01 traded lot sizes.

Step 5: Consider getting a Virtual Private Server (VPS) to ensure uninterrupted trading and better performance.

Step 6: Start with small position sizes and only risk 1-2% of capital per trade. Customize risk management settings accordingly.

Step 7: Monitor trades occasionally to intervene if required. But otherwise allow the automated strategy to capture profits over time.

Pros and Cons

Here are some of the main advantages and potential disadvantages of using the Brilliant Pro EA that traders should evaluate:

Pros

  • Proven long term profitability.
  • Low drawdowns and consistent returns.
  • Inbuilt risk management features.
  • Automated trading and hands-free approach.
  • Regular updates and reliable support.

Cons

  • Requires monitoring during high volatility.
  • Higher risk from martingale strategies.
  • Potential losses from slippage and spreads.
  • Needs a reliable VPS connection.

Brilliant Pro EA Conclusion

The Brilliant Pro EA provides traders with an efficient solution to automate their trading and generate regular profits from forex markets. The combination of scalping with advanced hedging techniques seems effective in maintaining positive results over the long run.

Compared to many other EA robots, the Brilliant Pro has better risk controls through its stop losses and customizable settings. Performance can be further enhanced by using a low spread ECN broker and VPS service.

Overall, the Brilliant Pro EA is a powerful tool for traders/investors who want to automate their trading and rely on trend signals to determine entries and exits. While the higher risk needs to be accounted for, the EA certainly delivers on its promises of stable monthly returns.

Author: Dominic Walsh
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I am a highly regarded trader, author & coach with over 16 years of experience trading financial markets. Today I am recognized by many as a forex strategy developer. After starting blogging in 2014, I became one of the world's most widely followed forex trading coaches, with a monthly readership of more than 40,000 traders! Make sure to follow me on social media: Instagram | Facebook | Linkedin | Youtube| Twitter | Pinterest | Medium | Quora | Reddit | Telegram Channel

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