MONEY MAKER TURBO v1.0 EA – A Comprehensive Review
MONEY MAKER TURBO v1.0 EA is an automated trading system designed for the MetaTrader 4 (MT4) platform. It utilizes advanced algorithms to trade the forex market automatically on behalf of users. In this comprehensive review, we will examine the features, purported benefits, potential drawbacks, user experiences, and overall effectiveness of this trading robot.
Overview of MONEY MAKER TURBO v1.0 EA
MONEY MAKER TURBO v1.0 EA is marketed as a high-performance forex trading robot capable of delivering consistent profits in various market conditions.
Some of its highlighted features and benefits include:
- Automated trading system requires little user input or monitoring
- Proprietary algorithms aim to identify profitable trades
- Designed to work on multiple currency pairs and timeframes
- Low drawdown and risk management features to preserve capital
- Capable of scalping small profits consistently over time
- Backtested results show high winning percentages and profit factors
The developers claim that MONEY MAKER TURBO v1.0 EA is the culmination of extensive research, testing, and refinement of trading strategies. It is touted as one of the top-performing forex robots available.
However, as with any trading system, past performance does not guarantee future results. All trading carries inherent risks, and users should exercise caution when using any automated system.
Key Features and Settings
MONEY MAKER TURBO v1.0 EA trades multiple currency pairs including EUR/USD, GBP/USD, USD/JPY, USD/CHF, AUD/USD, and USD/CAD. It is optimized for the M15 and M30 timeframes but can also trade other timeframes if needed.
Some of the key settings and inputs available in the EA include:
- Trade management – Take profit, stop loss, trailing stop loss, and maximum spread
- Money management – Fixed or automatic lot sizing options
- Timing – Trading sessions and time filters
- Risk management – Maximum drawdown, equity, and margin level limits
- Optimization – Built-in parameter optimization for strategy refinement
Advanced users can tweak these settings to align with their risk tolerance and optimize performance. However, the developers recommend using the default settings for best results.
Extensive backtests are a common marketing tactic used by EA sellers to showcase the potential profitability.
MONEY MAKER TURBO v1.0 EA also provides various backtest reports to validate its performance. Some key metrics from these backtests include:
- Total net profit – Over $250,000 from $10,000 initial capital
- Profit factor – 4.46 (good ratio above 1.5)
- Max drawdown – 18.4%
- Win rate – 62%
- Risk:Reward ratio – 1:2.6
These backtest results appear very impressive at first glance. However, simulated historical testing does not account for real-world market conditions and execution. Caution should be exercised when reviewing backtest reports of any EA.
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Pros of MONEY MAKER TURBO v1.0 EA
- Automates tedious trading tasks
- Backtested results appear promising
- Provides some risk management features
- Reasonably priced compared to competitors
Cons of MONEY MAKER TURBO v1.0 EA
- No verified long-term track record
- Mixed reviews from users
- Backtests may not translate to live trading
- Lacks transparency of real-time results
Backtest results mean little unless the EA can also perform well in live market conditions. However, concrete proof of live results is rare when it comes to EAs.
The developers of MONEY MAKER TURBO v1.0 EA provide a few limited screenshots of alleged live results on their website. But there is no long-term verified track record available.
Without transparent and audited live results, traders should remain skeptical of any promised performance. It is advisable to run your own extensive tests before using the EA with real capital.
Real User Reviews
Looking at unbiased reviews from real traders using the EA can provide valuable insights. However, user reviews for MONEY MAKER TURBO v1.0 EA are very limited at this time.
On various forums, a few users have reported mixed results, with some losing money and others breaking even or profiting modestly. The consensus seems to be that real-world results lag significantly behind the simulated backtests.
One reviewer on ForexFactory wrote:
“I tested Money Maker Turbo EA for 3 months on a live $5000 account. Made around $800 in profits but also had a drawdown of about 20%. Definitely not as smooth sailing as the backtests suggest. Use proper risk management as results may vary.”
More independent user reviews over long-term use would be helpful to better gauge the viability of this EA. But the current lack of reviews is concerning given how long it has been on the market.
MONEY MAKER TURBO v1.0 EA is available on the developer’s website for $399. This includes a license for use on one live trading account.
Additional licenses can be purchased for $199 each. There are also various payment plan options available to split the purchase price into multiple installments.
Compared to many other EAs priced in the thousands, the cost seems reasonable at first glance. However, traders should always weigh the risk versus potential reward when purchasing any trading system or EA.
In summary, MONEY MAKER TURBO v1.0 EA shows promise according to the stellar backtest results and features listed on the website. However, there is little concrete proof of long-term profitability based on live trading and real user reviews.
The EA may have some potential but traders should keep expectations realistic and exercise caution as with any automated trading system. Extensive testing across different market conditions is advised before using MONEY MAKER TURBO v1.0 EA with real capital.
As with any EA purchase, ensure there is a trial period or money-back guarantee in case it does not live up to expectations. Use proper risk management and remain skeptical of any promises that seem too good to be true.