Overview of Friday Pro EA
The Friday Pro EA is an automated trading system designed specifically for trading the Friday sessions in the forex market. It was developed by Ming Ying Lee. Some key features of this EA include:
- Closes all open trades before the market close on Fridays
- Uses proprietary algorithms optimized for Fridays
- Suitable for both scalping and long-term trading
- Includes backtesting results from 2014-2022
- Compatible with MetaTrader 4 and 5
According to the product page, backtests of the Friday Pro EA on the EURUSD pair from 2014-2022 produced over 5,000% compounded returns with a 65% win rate. The largest drawdown was around 20%. These stellar backtest results suggest the potential for very strong performance trading on Fridays. However, as with any EA, simulated historical results do not guarantee future live performance.
Live Trading Results
The developer has not provided any verified account statements to demonstrate the Friday Pro EA’s performance in live market conditions. A few reviewers have tested the EA on demo accounts with mixed results. Without proof of real profits, traders should be very cautious about relying solely on backtest results when considering this EA.
Ease of Use
The Friday Pro EA includes a dashboard for configuring settings and monitoring trades. It provides the flexibility to trade automatically or semi-automatically based on user-defined parameters. However, the lack of detailed documentation may make the learning curve steeper for new users.
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At a price of $199, the robot is reasonably priced compared to many forex EAs. However, the lack of transparency around verified live results makes it difficult to assess if the EA is worth the cost.
Friday Pro EA Verdict
In summary, while the Friday Pro EA shows potential based on backtesting, the lack of evidence from live trading makes it impossible to confirm if it can consistently generate profits. More objective real-time testing and transparency of results would help substantiate the claims made by the developer. Until then, caution is warranted when considering this EA.