Naragot Portfolio EA – In-Depth Review

Table of Contents

The Naragot Portfolio EA is a multi-currency automated trading system that aims to leverage trend movements in the forex market. Developed by Alexander Mordashov, this expert advisor has garnered much attention from the trading community. In this comprehensive review, we analyze its features, strategies, backtests, customer reviews, and more to determine if it is worth the investment.

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Overview

The Naragot Portfolio EA became available on the MQL5 marketplace on October 12, 2020. The developer markets it as a professional portfolio of trend-following trading systems for the MT4 and MT5 platforms.

Key features include:

Trades on EURUSD, GBPUSD, XAUUSD, and USDJPY
Implements take profit and stop loss levels
Avoids martingale and grid trading techniques
Closed source system
Available for $333

The trading logic consists of:

Identifying larger trend movements
Entering trades in the direction of the trend
Leveraging volatility breakouts
Using support and resistance zones

The system aims to capture moves when the market trends strongly. As per the developer, it does not trade frequently but rather focuses on high-probability setups.

Performance Metrics

We analyzed the available backtests and myfxbook account statistics to gauge the EA’s profitability.

Backtesting Results

The developer provides one backtest on the product page spanning 2000 to 2021. Key metrics are:

Net Profit: $184,551
Win Rate: 55.44%
Profit Factor: 2.15
Max Drawdown: 15.87%
Starting Balance: $10,000

These results showcase decent profitability across over 20 years of market data. However, it is concerning that only one backtest is published. More testing would build confidence in the strategies.

Myfxbook Stats

There are two public accounts running the Naragot Portfolio EA on myfxbook:

Naragot Portfolio Signal: 500.27% net profit over 35 months
Naragot Darwinex Master: 75.89% net profit over 31 months

The first account shows phenomenal returns exceeding 500% in under 3 years. However, the second account has more modest gains of 75%. It seems performance varies significantly across different accounts.

Trading Logic & Methods

As per the developer, this expert advisor is not a curve-fitted system but rather uses proven trading principles. Two core methods are used:

Volatility Breakout

The EA detects periods when volatility expands rapidly
It then enters trades in the direction of the breakout
The assumption is that volatility breakouts signal accelerating price moves

Support/Resistance Breakouts

Key support and resistance levels are identified on the charts
The robot enters trades when the price breaks these zones
The assumption is that breakouts from key zones lead to extended moves

These two rule-based methods aim to capture trend-based movements in the market. According to the developer, the system avoids high-risk techniques like martingale and focuses purely on technical price action.

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Live Account Results

The developer claims to have over $700,000 under management. However, there is no evidence of these personal accounts.

We analyzed two public accounts running this EA:

Naragot Darwinex Master

Broker: Darwinex
Gain: 75.89%
Drawdown: 31.11%
Duration: 31 months

Naragot Portfolio Signal

Broker: Undisclosed
Gain: 500.27%
Drawdown: 35.22%
Duration: 35 months

The Darwinex account shows modest but steady gains since 2019. However, the undisclosed broker account shows exceptional returns over 500% in 3 years. These results seem questionable and require further verification.

Customer Reviews & Ratings

There are over 20 customer reviews of the Naragot Portfolio EA on the MQL5 marketplace.

The average rating stands at 3.95 out of 5 stars. 13 users gave 5-star reviews highlighting the profitability and quality support.

However, 5 users gave 1-star ratings citing poor performance, high drawdowns, and losses. The mixed reviews suggest results can vary drastically across different accounts and brokers.

Pricing

The Naragot Portfolio EA is available for $333 on the MQL5 marketplace. This is discounted from the original price of $449.

The developer does not offer any free trials or money-back guarantees. So users must purchase the software without testing it first.

At $333, the EA sits at the higher end of pricing structures for forex robots. Competing systems with similar capabilities are available for under $100 in many cases.

Naragot Portfolio EA Verdict

The Naragot Portfolio EA implements some logical trading techniques for catching trend-based moves. However, there are several red flags to consider:

Positives

Logical trading methods
500% returns on one myfxbook account
Mostly positive customer reviews

Negatives

Only one backtest report
No refunds or free trials
Questionable myfxbook results
Mixed customer experiences

Given the lack of testing and verification, we suggest approaching this EA with caution. Comprehensive backtesting and live results from a regulated broker would build more trust.

As it stands, the steep $333 price tag seems questionable when competitors cost a fraction of the price. While the approach seems rational, we require more proof before recommending the Naragot Portfolio EA.

The Developer – Alexander Mordashov

Alexander Mordashov is a Russian trader and programmer specializing in automated trading systems. He joined the MQL5 marketplace in 2019 and has over 4 years of trading experience.

Offerings

Mordashov has published 10 products on MQL5 including:

Expert advisors
Telegram trade copiers
Risk management tools
Forex signals

The Naragot Portfolio EA is his most popular product with over 800 copies sold.

Reputation

The developer has an overall rating of 4.6 out of 5 stars on his MQL5 profile. He highlights managing over $700,000 in equity.

However, there is no verified evidence of these personal trading accounts. Given the mixed reviews of the Naragot Portfolio EA, his claims require further proof.

Competitors

There are hundreds of competing automated trading systems in the market. The Naragot Portfolio EA faces competition from established brands like Forex Robotron, FXAdept, and Forexsteam.

These competitors offer similar capabilities at lower price points between $50 to $150 in most cases. They also provide more comprehensive backtests across more currency pairs and time frames.

As a newly launched product, the Naragot Portfolio EA has yet to match the track record of top competitors. Extensive testing and verified live results over a long duration would strengthen its credibility.

Naragot Portfolio EA Conclusion

The Naragot Portfolio EA implements some rational trading techniques for capturing trend-based market moves. However, there are several unanswered questions regarding its performance and the developer’s credibility.

While the approach seems logical, we require further proof in the form of backtests and verified real account results before recommending this expert advisor. Competitors offer similar solutions at more affordable rates together with better transparency.

As it stands, the Naragot Portfolio EA comes across as an overpriced product that lacks testing. We suggest traders approach it with skepticism until more evidence supports the claimed performance metrics and developer reputation.