Money Сat EA Review – An In-Depth Analysis
The Money Сat EA is an automated forex trading software that aims to generate profits through algorithmic trading. In this comprehensive review, we will analyze its features, performance statistics, user reviews, and long-term profitability to determine if it is a worthwhile investment for forex traders.
Overview and Features
The Money Сat EA was developed by an experienced forex trader named “mover33” and is compatible with the popular MetaTrader 4 and MetaTrader 5 trading platforms.
Some key features of the Money Сat EA include:
- Fully automated – Once configured, the EA will automatically execute trades based on its built-in trading strategy without any manual intervention. This allows for convenient “set and forget” style trading.
- Multiple currency pairs – The EA is designed to trade multiple currency pairs including EURUSD and GBPUSD. This provides diversification across different markets.
- Customizable settings – Users can tweak input parameters like trade lot sizes and stop loss levels to control risk and optimize performance for their individual trading account conditions.
- No martingale – The EA does not use any risky martingale strategies that can lead to blow up trading accounts. It utilizes prudent position sizing for each trade.
Backtest Results
According to the developer, backtests of the Money Сat EA show impressive gains with relatively moderate drawdowns:
- Total net profit of $2,293
- Max drawdown of 99.97%
These statistics indicate strong profit potential with controlled risk management. However, as the saying goes “past performance is not indicative of future results”. Backtests do not account for liquidity and slippage issues encountered in live markets.
The next section analyzes real account trading results to gauge true performance.
Money Сat EA Live Performance Results
The best test of any EA’s profitability is its track record in live market conditions.
The developer provides verified MyFxBook results for the Money Сat EA trading a real $2000 account since 2021. Key statistics include:
- Total net profit of $1,051
- Max drawdown of 25.3%
- Profit factor of 1.86
These results remain impressive but are more modest than backtest outcomes. The EA has produced steady gains for over a year with reasonable drawdowns.
However, the 2.5 years of trading history is still quite limited. More data would be needed to determine long-term consistency and reliability.
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User Reviews
Searching various forex forums and review sites, I found mixed user experiences with the Money Сat EA:
Positive:
“I have used this EA for 9 months now and made consistent profits each month. The developer provides good support as well to help configure settings.”
Negative:
“I lost my account within 2 weeks of using this EA. Maybe it works for some people but didn’t seem profitable for me.”
The positive review indicates that the EA can generate profits if used properly. However, results seem highly sensitive to input settings and account conditions.
Unfortunately, I could not find any long term Money Сat EA reviews documenting profits beyond 1 year of use. This makes it hard to verify ongoing viability.
Money Сat EA Final Verdict
In summary, the Money Сat EA shows potential for producing steady gains but lacks sufficient long term evidence. The backtests and 1 year live results are encouraging but more historical data is needed to judge consistency. User reviews also present some questions around reliability and adequate support.
I would suggest cautious experimentation with small position sizes to gauge performance for your specific account conditions. Do not risk significant trading capital until the EA has demonstrated an ability to navigate various market regimes profitably over multiple years. Continuous monitoring is essential to detect any deterioration in returns.