Budak Flat EA – A Comprehensive Review

The Budak Flat EA is a popular automated trading system (EA) that has gained significant attention in the forex trading community in recent years. In this comprehensive review, we will analyze the key features, performance statistics, strengths and weaknesses of this trading robot to determine if it is worth investing in.

Budak Flat EA

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Overview and Background

The Budak Flat EA was created by an anonymous developer and released publicly in 2020. It quickly became popular due to its unique trading strategy that aims to profit from ranging, non-trending market conditions.

The EA trades multiple currency pairs including EURUSD, GBPUSD and USDJPY on the M15 and M30 timeframes. It uses an innovative grid and martingale money management system to open multiple positions in the same direction in order to accumulate profits.

Some key features of the Budak Flat EA:

In terms of pricing, the Budak Flat EA costs $799 for a single license which allows it to be run on one live trading account.

Performance Statistics and Backtests

Independent backtests from multiple sources show that the Budak Flat EA is capable of generating consistent profits over long periods of time.

For example, a 2-year backtest on EURUSD M15 shows:

  • Total net profit of $9,287
  • Max drawdown of 18%
  • Profit factor of 1.75

The EA has also been forward tested on multiple live accounts with similar promising results.

One Myfxbook account shows the EA was able to grow a $5000 account to over $7000 in just 3 months, achieving a 44% profit with relatively low drawdown.

Overall, the performance statistics shows that when used properly, the Budak Flat EA has the potential to grow trading accounts at a consistent pace without taking excessive risks.

Strengths

The biggest strength of the Budak Flat EA is its ability to generate steady profits month after month in ranging market conditions.

While most other EAs struggle to make money when there are no clear trends, this system thrives in such environments by taking advantage of small price oscillations.

Some other key strengths include:

  • Risk management features – It has inbuilt settings to control position sizes and stop losses which prevents blow up of accounts.
  • Flexibility – Users have access to a range of input parameters allowing them to adjust risk and other factors.
  • Ease of use – The EA is plug and play with a detailed user guide. No coding knowledge required.
  • Cost effective – At $799, the EA is reasonably priced compared to competitors.

Weaknesses

The biggest weakness of the EA is that it can perform poorly when markets begin trending strongly. Since it is optimized for ranging conditions, long directional moves can cause multiple losing trades.

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Some other weaknesses are:

  • Potentially risky martingale logic – While risk can be controlled, martingale is still high risk.
  • Over-optimization – Backtests show very optimized settings for past market conditions. May not work as well moving forward.
  • Unverified developer – Little is known about the creator which raises credibility concerns.
  • Locked to one broker – The EA license only allows it to run on one broker account at a time.

Budak Flat EA – Verdict

The Budak Flat EA is an intriguing automated trading system that has shown consistent profitability in multiple backtests and live accounts, especially in ranging market conditions.

However, traders need to be aware of its weaknesses and risk management must be utilized properly to avoid blow ups. Used with caution and discipline, the EA can potentially grow accounts at a healthy rate.

Overall, the EA can be a valuable addition for traders looking for an automated system optimized for sideways, non-trending markets. But conducting further due diligence is highly recommended before purchasing.

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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