EGY Trend EA Review – A Powerful Forex Trading Robot
The EGY Trend EA is an automated forex trading robot designed to trade the trends in the forex market. In this comprehensive review, we will analyze the features, performance statistics, pros and cons of this trading system to determine if it is worth the investment for forex traders.
Overview of the EGY Trend EA
The EGY Trend EA was created by a developer named EgyTrading and made commercially available in 2017. It is optimized for the popular MetaTrader 4 trading platform and aims to ride the trends on the 1 hour timeframe.
Some key features of this forex robot include:
- Trend following strategy
- Works on 1 hour timeframe
- Automatic stop loss and take profit levels
- Suitable for EURUSD and other major currency pairs
Backtested Performance Statistics
According to the developer, EGY Trend EA has been backtested on historical data between 2017 to 2022. The performance statistics are:
- Profit factor: 1.75
- Standard deviation: $48
- Sharpe ratio: 0.08
- Z-score: -13.16 (99.99% confidence)
- Expectancy: 0.5 pips/$3.34
These metrics indicate that the trading system has a good risk-adjusted return profile. It is profitable overall with a high profit factor and positive expectancy. The standard deviation and small Sharpe ratio shows that returns vary significantly from month-to-month. The extremely low Z-score proves the backtest results are statistically significant and not random.
Table 1. Yearly Returns for EGY Trend EA
| Year | Return | Drawdown |
|---|---|---|
| 2017 | 35.41% | 7.80% |
| 2018 | 46.32% | 11.86% |
| 2019 | 62.53% | 17.32% |
| 2020 | 124.23% | 29.23% |
| 2021 | 211.32% | 9.23% |
The yearly breakdown in Table 1 indicates that the robot is capable of generating very high returns in excess of 100% per year. However, drawdowns can also be significant during losing periods. The return consistency is also quite poor with massive 211% profit in 2021 but only 35% in 2017.
Live Performance
Unfortunately there is no verified live trading record available for the EGY Trend EA. Without proof of live results, traders should remain skeptical about the accuracy of backtests. It remains to be seen if this robot can replicate its stellar past performance in real market conditions.
The lack of transparency around live results is a major weakness for this trading system. Verdict: No independent evidence this EA works as advertised.
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Strengths of the EGY Trend EA
- Profitable backtest results from 2017 to 2022
- Clear trading strategy that follows the trend
- Automatic risk management features
- Works on a popular currency pair EURUSD
Weaknesses of the EGY Trend EA
- No proof of live trading performance
- Inconsistent returns year-to-year
- Significant drawdowns during losing periods
- Expensive purchase cost of $280
Final Verdict – Caution Advised
The EGY Trend EA shows promise with its profitable historical backtest results and solid trading strategy. However, there is no verified real account trading history so the accuracy of performance statistics are questionable. We advise caution before purchasing this expensive EA. Wait for live results for at least 6 months to confirm if this robot works consistently.
Frequently Asked Questions
Here are answers to some common questions about the EGY Trend EA:
What is the price of the EGY Trend EA?
It is available for sale at a cost of $280 per license. This allows use on one trading account only.
What currency pairs can it trade?
The EGY Trend EA is optimized for EURUSD on the 1 hour timeframe. It may work on other major and minor pairs but this is untested.
Does it use dangerous strategies like martingale or grid?
No, this expert advisor does not use high-risk strategies like martingale, grid or hedging. It aims to follow the trend in a safe manner.
Can I get a refund if I am not satisfied?
Unfortunately the vendor does not offer refunds once you purchase this EA. You cannot test it out risk-free to determine if it suits your style.
What account leverage does this EA require?
It works best with a leverage of 1:200 based on backtests. Lower leverage would likely lead to reduced performance.
The Verdict
The EGY Trend EA shows some potential but lacks transparency around real account results. The lack of refund policy is also concerning. We suggest traders wait for proof of live trading success before risking $280 on this unproven forex robot. Caution is advised until more evidence appears that it works consistently in live market conditions.