PATREX PRO EA V4.0 Review – The Award-Winning AI Forex Trading Robot

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PATREX PRO EA V4.0 is an expert advisor for the MetaTrader 5 platform that utilizes artificial intelligence and machine learning algorithms to automate forex trading. Developed by Damasia Godlove, PATREX PRO aims to identify high-probability trading opportunities and execute trades with precision and minimal emotion.

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Overview of PATREX PRO EA

PATREX PRO EA is marketed as an award-winning, AI-powered forex robot designed to make trading success easy. The robot continuously scans the market across 5 timeframes (M1, M5, M15, H1, H4) looking for potential trades based on technical indicators, support/resistance levels, trends, and volatility patterns.

Once a trade is identified, PATREX PRO can automatically place entry and exit orders according to predefined parameters. The system incorporates features like stop loss, take profit, martingale, averaging, and grid strategies to manage trades. It is fully automated, which eliminates hesitation, doubt, and manual errors from trading decisions.

PATREX PRO also has a cloud-based Signal Bridge that allows the system to be used across multiple accounts simultaneously. Backtesting capabilities are included to test strategies before going live.

How PATREX PRO EA Works

The core of PATREX PRO EA is its artificial intelligence engine. The robot uses machine learning algorithms to analyze current and historical market data across multiple timeframes. It detects chart patterns, trends, volatility, support/resistance zones, and other technical signals.

Based on this analysis, the AI module identifies high-probability trading opportunities that align with the strategy encoded in the robot’s logic. Entry, exit, stop loss, take profit, and other trade parameters are then automatically executed by PATREX PRO when trade conditions are met.

By leveraging AI and automation, PATREX PRO aims to trade with consistent precision and objectivity that is difficult for manual traders. Emotions and lapses in judgement are removed from trading decisions.

Key Features and Settings

PATREX PRO EA has over 50 customizable settings across different tabs:

Entry Settings: Configure entry logic including indicators, candle patterns, pending order entry rules.

Exit Settings: Define exit rules based on indicators, time-based exits, break-even stops.

Stop Loss & Take Profit: Set stop loss pips, trailing stops, take profit pips.

Money Management: Adjust lot sizing, martingale, and risk management.

News Filter: Set news trading options and volatility filters.

Time Filter: Specify trading sessions and blacklist certain time periods.

EA Info: View account and trading statistics within the EA interface.

These advanced settings allow traders to customize the robot’s logic and risk management to fit their strategy. Default settings are provided as a starting point.

Performance and Backtests

Vendor backtests for PATREX PRO EA show impressive results across multiple currency pairs:

GBP/AUD: Turned $1000 into $223,000 in 9 days, 2300% profit
NASDAQ: $4000 to $91,000 in 4 days, 2175% profit
EUR/USD: $3000 to $460,000 in 1 month, 15233% profit

The robot allegedly executed over 8000 trades in 9 days on the GBP/AUD backtest thanks to its automated high-frequency trading.

However, it is important to note that backtested results do not guarantee future performance. Slippage, spreads, and latency can impact results when going live. Traders should exercise caution and proper risk management.

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Pricing and Licenses

PATREX PRO EA is sold through the vendor website with the following license options:

Basic License – $399 one-time fee
Silver License – $599 one-time fee
Gold License – $799 one-time fee
Platinum License – $999 one-time fee

Higher licenses include more account activations, priority support, and access to the PATREX PRO community. The EA can be used with any MetaTrader 5 broker. Additional fees apply for Signal Bridge and other features.

Is PATREX PRO EA Worth It?

PATREX PRO EA offers traders a sophisticated and fully automated AI trading solution for the MetaTrader platform. The robot aims to provide consistent profits in forex and crypto markets with minimal input from the user.

For traders looking for an “set and forget” expert advisor that leverages machine learning for trade analysis, PATREX PRO merits consideration. User testimonials praise the robot’s profitability.

However, with any EA, caution is advised. Over-optimization, curve-fitting, and a lack of out-of-sample testing can result in misleading backtest results. As with any product, it is best to demo test the robot thoroughly across different market conditions before committing real capital.

Proper risk management, avoiding overleveraging, and using PATREX PRO as part of a diversified trading system is advised. The high price point may deter more casual traders. But for serious traders, PATREX PRO offers an intriguing AI-powered automated solution.

Conclusion

PATREX PRO EA aims to simplify forex trading through artificial intelligence and automation. Its machine learning algorithms analyze the markets and execute trades based on technical signals. Backtest results are impressive but real-world results may vary. For traders seeking a hands-off approach, PATREX PRO provides an expert advisor worth looking into. As with any EA, managing risk and having realistic expectations is key. Overall, PATREX PRO is an innovative robot that automates trading with intriguing AI technology.