JAZIB PRO V3 Review: A Comprehensive Look at This Expert Advisor for MT4
JAZIB PRO V3 is an expert advisor (EA) designed for the MetaTrader 4 (MT4) trading platform. It aims to automate forex trading by generating buy and sell signals and managing trades. In this comprehensive review, we will take an in-depth look at JAZIB PRO V3, including its features, performance, pros and cons.
Overview of JAZIB PRO V3
JAZIB PRO V3 is an automated trading system that uses algorithms to analyze the markets and determine optimal entry and exit points for trades. It is designed specifically for the MT4 platform and can be used with any currency pair, although EUR/USD is recommended.
Some key features of JAZIB PRO V3 include:
- Fully automated trading – once installed, the EA will automatically execute trades based on its algorithms without the need for manual intervention.
- No martingale or grid trading – uses more sophisticated entry and exit logic rather than risky martingale methods.
- Works on any MT4 broker – can be used with any broker that supports MT4.
- Unlimited use – can be used on multiple accounts and MT4 terminals without restrictions.
The developers claim that JAZIB PRO V3 is able to produce consistent profits month after month by exploiting small market movements. However, as with any EA, profitability is not guaranteed.
Installation and Setup
Installing JAZIB PRO V3 is straightforward for those familiar with MT4 EAs. Here are the steps:
- Purchase the EA from the vendor’s website and download the files. This includes the ex4 file, set files, documentation, and license file.
- Open MT4 and drag the ex4 file into the Experts folder.
- Add the provided set files to the Sets folder. These contain the EA settings.
- Attach the EA to a chart by going to Navigator > Expert Advisors and double clicking on “JAZIB PRO V3”.
- Input your license key when prompted and make sure Allow Live Trading is checked.
- Adjust the input settings as desired based on your account size and risk tolerance. The defaults are designed for accounts over $1000.
- Enable the EA and it will immediately start trading based on the current market conditions. Monitor performance for a few days before allowing it to run unattended.
The developers recommend using the EA on the M15 timeframe, but other timeframes can be tested. It’s also advised to start with small position sizes to assess functionality before increasing.
Performance and Backtests
According to the vendor, JAZIB PRO V3 was backtested on historical data going back 15 years and performed with a high profit factor and Sharpe ratio.
The posted backtests show consistent profitability across multiple currency pairs with drawdowns generally under 30%. For example, a backtest on EUR/USD from 2007 to 2022 shows a profit factor of 2.31 and total net profit of $33,630.
However, as is always the case with backtests, the past performance shown does not guarantee future results. The market dynamics are constantly changing so the EA logic will need to adapt. It’s best to run forward tests in a demo account across different market conditions to properly evaluate.
User reviews seem to be mixed when it comes to real account results. Some traders claim monthly gains of 20-30% using the default settings while others report losses and blown accounts. As with any EA, proper account management is essential.
Pros of JAZIB PRO V3
Flexible usage – Can be used on any currency pair, timeframe, or MT4 broker as long as EA hosting is permitted.
Unlimited license – The one-time fee allows use on unlimited accounts and terminals which provides excellent value.
MT4 integration – Seamlessly integrates with the popular MT4 platform and includes detailed documentation.
Automated trading – Fully automated system that can potentially trade 24/7 once configured properly.
Cons of JAZIB PRO V3
No guarantee of profit – Despite backtest results, live trading results will vary so profits are not guaranteed.
Curve fitting – Like any EA, it may be over-optimized to past market data and fail in live trading.
High risk – Automated trading is inherently risky and losses can exceed deposits. Proper money management is critical.
Monitoring required – The system should be monitored for some time to assess functionality before letting it run unsupervised.
Potential overtrading – The default settings may result in a high number of trades which could be detrimental long term.
Using JAZIB PRO V3 Successfully
To have the highest chance of success with JAZIB PRO V3, traders should follow these best practices:
- Start with small trade sizes – Trade micro or mini lots initially to avoid large losses as you assess functionality.
- Use proper risk management – Employ a risk-reward ratio of at least 1:1 and limit risk to 1-2% of capital per trade.
- Monitor closely at first – Observe the EA’s logic and performance for a few weeks before letting it run unattended.
- Demo trade – Forward test the system in a demo account under real market conditions to identify potential issues.
- Tweak settings – Optimize the EA settings and inputs for your account size, risk tolerance, and market conditions.
- Use on ideal pairs – Stick to the recommended pairs and timeframes the EA was designed for.
- Manage expectations – Have realistic profit goals and remember automated trading is not a get rich quick solution.
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Verdict on JAZIB PRO V3
JAZIB PRO V3 provides traders with an accessible and potentially profitable automated trading system for MT4. The sophisticated trading logic, unlimited license, and integration with the popular MT4 platform make it an appealing option for traders looking to automate their trading.
However, as with any EA, profitable results are certainly not guaranteed. Proper account management, risk control, and monitoring are required to give the system the best chance of success. Traders should use prudent position sizing and risk management to minimize losses should the system underperform.
Realistic expectations also need to be set, as JAZIB PRO V3 is not a magic button that will churn out profits without potential drawdowns. Automated trading requires patience and discipline.
Overall, for traders willing to apply proper risk management, it provides an intriguing option to potentially profit from the forex markets automatically.