Fortune EA Review – A Powerful Forex Trading Robot

Fortune EA is an expert advisor (EA) designed for automated forex trading on the popular MetaTrader 4 (MT4) platform. This sophisticated trading bot utilizes complex algorithms to analyze market trends and price action across currency pairs. In this comprehensive review, we will examine Fortune EA’s features, performance, strengths and weaknesses to determine if it is a worthwhile investment for forex traders.

Fortune EA

Download Free Fortune EA

Fortune EA Overview and Key Features

Fortune EA was developed by expert trader Conor Stephenson. Some of its standout features include:

  • Strong trend following and frequent scalping – The EA is adept at identifying trends and entering positions to profit from both major market moves and smaller price fluctuations.
  • Flexible trade management – Trades can be closed out in multiple user-defined ways to lock in profits or limit losses.
  • Hedging capabilities – The EA can open counter-trend positions to hedge other open trades, helping to reduce risk exposure.
  • Spread and slippage protection – Built-in settings prevent the EA from opening trades in volatile market conditions with high spreads or slippage.
  • Drawdown reduction functions – Special logic helps cut losing streaks and control account drawdowns.
  • News filter – Important economic news events that often trigger market volatility can be automatically filtered out.
  • FIFO compliance – The EA follows first-in, first-out trade closure rules required by some brokers.

In addition to these highlights, Fortune EA also provides a range of other customizable settings and options to refine performance.

Fortune EA Performance and Track Record

Independent tracking on Myfxbook shows Fortune EA has produced consistent profits over multiple years.

As of March 2021, the public account tracking the EA grew an initial $10,000 deposit to over $12,000. This represents total gains exceeding 106% with maximum drawdown limited to 24%.

The EA has achieved an impressive 76% win rate on long trades and 75% win rate on short trades across over 1700 closed positions. Average profit per winning trade stands at $13.67 while average loss was capped at $22.72 per losing trade.

Strengths of Fortune EA

Solid Historical Performance

As evidenced by long-term public tracking, Fortune EA has delivered steady profits in a variety of market conditions. The EA has shown resilience in choppy markets while also capturing larger moves.

Active Development & Support

The developer Conor Stephenson continues updating and improving the EA, releasing new versions in response to market changes. He also provides active customer support via chat groups.

Customization Options

Fortune EA ships with many input settings and tweaks to refine performance for individual user’s needs. Traders can adjust elements like trade management rules, hedging settings, max spread/slippage filters and more.

Reasonable Minimum Deposit

While results can scale dramatically with larger accounts, Fortune EA can trade profitably starting with a relatively modest $2000 deposit. This makes the bot accessible for small retail traders.

Weaknesses of Fortune EA

Of course, no automated trading system is perfect. Some aspects traders should keep in mind include:

Fortune EA Complex Logic

With many complex, intertwined algorithms powering its trading decisions, Fortune EA lacks transparency into exactly how and why it enters and exits positions.

Higher Risk Strategies

Fortune EA relies on martingale, grid, and hedging techniques which can amplify losses if markets turn against open trades. These approaches require strict risk controls.

Potential Over-Optimization

It is unclear if the EA’s rules have been over-fitted to past market data vs robustly optimized for a range of future conditions. Extensive demo testing is advised.

Sensitive to Settings & Broker

The developer recommends using specific brokers and settings for best results. Incorrect configuration or low quality execution can negatively impact performance.

Verdict on Fortune EA

Overall, Fortune EA is an intriguing option for traders seeking an automated solution for potentially profitable forex trading.

The positive real track record and regular updates from an established developer are encouraging signs. With proper risk management, the EA may continue achieving consistent gains.

However, the complex logic and reliance on higher risk trading techniques necessitate thorough demo testing. Fortune EA is likely best suited for experienced traders able to monitor performance and adjust settings as needed.

As with any EA, past performance does not guarantee future profitability. But for traders comfortable with automated systems, Fortune EA may be worth evaluating further.

Author: Dominic Walsh

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

Leave a Comment - Nemokamas lankytojų skaitliukas