Excellence Code EA Review – A Detailed Look at This Automated Forex Trading Robot

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Excellence Code EA is an automated trading robot designed for the MetaTrader 4 (MT4) platform. This forex expert advisor (EA) utilizes algorithms to analyze the market and execute trades automatically based on certain technical indicators and conditions. In this comprehensive review, we will take an in-depth look at the features, performance, pros and cons of using Excellence Code EA for forex trading.

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Overview of Excellence Code EA

Excellence Code EA was developed by a team of experienced forex traders and programmers. It is marketed as an easy-to-use automated trading solution that can generate consistent profits on the forex market without requiring much time or effort from the user.

Some key features of Excellence Code EA include:

Fully automated trading – The software opens, manages, and closes trades automatically based on its algorithms and settings.
Customizable parameters – Users can tweak settings like trade size, stop loss, take profit, and more to suit their trading style.
Works on the popular MT4 platform – Can be used with most forex brokers that support MT4.
Multiple currency pairs – The developers claim it can trade various currency pairs like EUR/USD, GBP/USD, USD/JPY etc.
Runs on VPS – Works smoothly when installed on a Virtual Private Server (VPS) for uninterrupted connectivity.

How Does Excellence Code EA Work?

Excellence Code EA is programmed to monitor the forex market continuously and enter or exit trades based on certain technical indicators and logic. Some of the key strategies used include:

Price action analysis – The EA evaluates current and historical price movements to identify trading opportunities.
Moving averages – Crossovers of short and long term moving averages often signal shifts in momentum.
Support and resistance levels – Significant support and resistance levels are used to identify potential entry and exit points.
Custom indicators – The developers have incorporated proprietary custom indicators to boost performance.

The robot is designed to capture small, frequent profits from short-term market fluctuations. It does not hold trades for extended periods but rather aims to capitalize on opportunities that may arise multiple times a day.

Performance and Results of Excellence Code EA

According to the vendor, Excellence Code EA has been extensively backtested across multiple currency pairs and timeframes. Backtesting gives an indication of how a trading system might have performed historically had it been active.

The developers provide verified backtest results on the product website showing consistent profits over several years of historical data. However, past performance does not guarantee future results. The market is constantly evolving and backtested results do not account for current or future market conditions.

Some users have published their live trading results from using Excellence Code EA on third-party tracking services like MyFXBook. These results help ascertain real-world profitability in live market conditions. Published results are generally positive, with moderate yet steady gains being achieved on accounts trading with this EA.

As with any forex EA, live trading results can vary significantly depending on the broker, account settings, market conditions, and money management employed. It is best to start with small position sizes and conservative settings when using this EA live.

Pros

Some of the main benefits of this automated trading robot include:

Fully automated trading reduces emotional errors and allows for efficient execution.
Customizable settings give users flexibility to configure the EA as per their risk appetite.
Regular updates and improvements are provided by the developers.
Detailed user guides and responsive customer support help set up and operate the software.
Reasonable one-time cost without recurring subscription fees.

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Cons

Some drawbacks to consider when using Excellence Code EA:

Requires monitoring – Like any EA, it cannot be completely set and forgotten. Performing periodic checks is advised.
Potential overoptimization – Excessive curve-fitting on backtest data can lead to losses in live trading.
No guarantee of profits – All EAs involve risk, and losses can exceed deposits on margin trading.
Requires a VPS service – This adds to the operating costs of running the EA.
Only works on MT4 – Traders using other platforms cannot use this software.

Verdict – Is This EA Worth Trying?

Excellence Code EA seems to have several positive features going for it when compared to many other forex robots on the market. The backtests and some live results appear promising. The developers also provide stellar customer service and support.

The relatively low one-time cost of this EA makes it affordable for most traders to try out. Running it on a demo account initially can help determine if this automated solution aligns with your trading style before risking real capital. As with any EA, use prudent money management, monitor it regularly, and don’t expect guaranteed profits.

Overall, EA appears to be a viable automated trading system to try out, especially for traders looking for a hands-off approach to forex trading. However, conducting proper due diligence before purchase is advised, and managing trading expectations is paramount.