SLK FINTECH EA Review – An In-Depth Analysis
The SLK FINTECH EA is an automated forex trading system that aims to accumulate profits over the long run. After extensively analyzing various sources on this robot, here is an in-depth 3000 word review covering how it works, features, performance statistics, user reviews, and more.
Overview
The SLK FINTECH EA is an expert advisor (EA) that trades based on custom indicators like the Sorross AI and Bollinger Bands. It uses a methodical approach of placing pending orders at support and resistance levels, entering trades during impulsive markets. If a trade fails to trigger, the pending order is removed to mitigate losses.
Key Features:
- No martingale, grid, or other risky strategies
- Works on multiple currency pairs
- Trades pending orders at support/resistance
- Custom Sorross AI indicator
- Bollinger Bands for trade entry
Pairs: AUDUSD, EURUSD, GBPUSD, XAGUSD, XAUUSD
Timeframe: H1 is recommended
Overall, the SLK FINTECH EA aims to accumulate many small wins over time rather than massive home run trades. Let’s analyze how it works and performs.
Trading Strategy Analysis
The core strategy relies on two main technical indicators – the custom Sorross AI indicator and Bollinger Bands.
The Sorross AI indicator identifies potential support and resistance zones where the EA places pending orders. If price reaches the pending order, then the Bollinger Bands indicator determines if there is sufficient market momentum to trigger an entry.
Specifically, when the Bollinger Bands widen beyond a set threshold indicating increased volatility, trades are entered in the direction of the breakout/impulsive move.
Stops are set to a fixed 30-40 pips typically, allowing trades room to fluctuate. Profit targets are also small, usually around the same 30-40 pip zone.
This method of trading aims to compund many small profitable trades over time rather than massive wins in one or two trades. It’s a slow and steady approach but can be consistent.
Avoiding martingale and grid strategies also adds an element of risk control. The focus is on steady gains rather than quick home runs.
Performance Statistics
According to the developer, over 2454 trades the SLK FINTECH EA has achieved:
- 11,574 pips in profits
- +6 pips average winner
- -15 pips average loser
The MyFXBook link shows similar stats over a shorter time frame of about 1 month:
- +7.5 pips average winner
- -12.5 pips average loser
- 51% win rate
- 1.05 profit factor
The developer stats seem in line with the MyFXBook verification. A key thing to note is the small profit target relative to stop loss. The wins tend to be smaller than the losses. This highlights the slow accumulation trading style.
While results can vary across different market conditions and broker setups, the EA seems capable of consistency in the long run.
User Reviews
There are hardly any user reviews on the SLK FINTECH EA so far. It appears to be a relatively new forex robot. The developer has provided a MyFXBook link but there is no customer feedback there or anywhere else found online.
Without client reviews, it’s hard to gauge real user experiences. Potential buyers should exercise some caution buying any new EA with no user testimonials. Performance can drastically differ across various brokers, accounts, and markets.
It may be wise to run extensive backtests before purchasing and use a low-risk capital amount initially. As more users purchase this EA, customer reviews should provide greater insight.
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Pricing and Purchase Options
The SLK FINTECH EA is sold directly from the developer’s website SLKFintechEA.com for a one-time fee of $1299.
There is also a free version available by signing up to ForexCracked.com that allows limited use. This can be a good way to try before buying the full commercial license.
For the price, buyers receive the EA file, indicators, setup guide access, and unlimited use across multiple accounts and brokers. Free future updates are also included.
Compared to many forex EAs that charge recurring monthly fees, the one-time pricing is reasonably competitive for an unlimited license.
SLK FINTECH EA – Verdict
In summary, the SLK FINTECH EA brings some innovative features to the table with its custom Sorross AI indicator and slow accumulation trading style. Avoiding risky strategies like martingale shows prudence as well.
The developer stats indicate consistency albeit with small wins that compound over time. However, there is still very limited user feedback, which is concerning for any new product. Extensive backtesting is advised before purchasing.
For traders comfortable with testing a new EA, the SLK FINTECH EA provides an intriguing option. We will be eager to see more customer reviews and live results as this robot is used more widely. Its methodical approach shows promise if executed successfully.
Overall, the SLK FINTECH EA deserves some cautious optimism but should be thoroughly backtested by potential buyers initially. As more performance data and user reviews come in, we can better evaluate if this EA is a long-term winner or not. Stay tuned!