Xhej Price Action EA Review – An In-Depth Look at This Trading Robot

The Xhej Price Action EA is a relatively new automated trading robot that claims to utilize price action strategies to trade the forex markets profitably. In this comprehensive review, we will take an in-depth look at this EA to determine if it is worth the investment for forex traders.

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Overview of the Xhej Price Action EA

The Xhej Price Action EA was developed by a team of traders led by John Smith. It is designed to work on the popular MetaTrader 4 and MetaTrader 5 trading platforms.

According to the developers, this expert advisor is based entirely on price action trading techniques. It analyzes current and historical price data to identify high-probability trading opportunities. The EA purportedly uses no lagging indicators, relying solely on raw price action.

Some of the key features highlighted by the developers include:

  • Advanced price action algorithms to identify trading opportunities
  • No lagging indicators, only raw price data is used
  • Works on 15 currency pairs and 4 timeframes
  • Low drawdown with strict risk management rules
  • Fully automated trading, no manual intervention needed

The Xhej Price Action EA costs $997 for a lifetime license with free updates. There is also a 60-day money back guarantee offered.

Backtesting Results

The vendor provides limited backtesting results on their website spanning 2 years. The posted results show the EA gained over 300% on a demo account trading the EUR/USD pair on the 15 minute timeframe.

However, it is difficult to verify the accuracy of these backtest results without seeing the full trading statements. More extensive backtesting history would help establish the viability of this trading system.

It is also unclear whether the vendor used optimized backtest settings or realistic variable spreads/slippage in their tests. As such, the provided backtest results should be taken with a grain of salt. More transparency regarding testing methodology would be beneficial.

Live Performance

At the time of writing this review, there was no verified live trading record available for the Xhej Price Action EA. Without seeing real-time results, it is impossible to gauge the profitability of this expert advisor.

The lack of any third-party verified performance is a concern. Prudent traders should be wary of purchasing EAs without seeing proof that they work in live market conditions. If the vendor provided a MyFXBook or other verified account history, it would add more legitimacy.

Strategy Methodology

According to the vendor, this EA uses an undisclosed price action strategy that analyzes current and historical price patterns to detect high-probability trading setups.

The developer provides little insight into the specific strategies utilized by the robot. Greater transparency regarding the underlying methodology would allow traders to better evaluate the validity of the approach.

Some key aspects that would be useful to disclose include:

Without understanding the logic behind the EA, it is difficult to assess whether the strategy is sound or effective. More details on how the robot selects trades would be helpful.

Settings & Parameters

The Xhej Price Action EA includes several adjustable settings that traders can tweak. These include parameters controlling trade entry rules, stop loss and take profit levels, position sizing, and more.

However, the vendor does not provide any guidance on how to configure these settings properly. There are no recommended settings given based on the backtests and optimization process.

Allowing traders to manually input parameters without suggested values is often a red flag with EAs. It puts the burden on the user to somehow determine the ideal specifications through trial and error.

The vendor should test the EA extensively across different market conditions, then provide optimized settings for users to implement based on those results. Lacking this information, traders are essentially guessing when configuring the EA parameters.

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Support & Documentation

The Xhej Price Action EA comes with a PDF user manual that provides some basic information on installing and configuring the robot. However, the documentation is fairly limited in scope.

There are no in-depth usage instructions, troubleshooting advice, or FAQs provided. The manual essentially just covers the bare minimum to get the EA up and running. Any further questions would require opening a support ticket.

In terms of support, the vendor offers email and chat support during business hours. However, there are some reports of slow response times, with emails taking over 48 hours to get answered. Phone support is not provided.

The lack of comprehensive documentation and limited customer support options are disappointing for such an expensive EA. More resources to help traders properly install, configure, and troubleshoot issues with the robot would be beneficial.

Xhej Price Action EA Final Verdict

In summary, while the Xhej Price Action EA advertises an intriguing price action based trading approach, there are several concerns regarding lack of transparency and performance proof. The high price point also limits accessibility for some traders.

Pros

  • Utilizes price action strategies
  • Customizable parameters
  • 60-day money back guarantee

Cons

  • No verified live results
  • Limited backtesting info provided
  • Expensive for unproven EA
  • Lack of guidance for settings
  • Mediocre documentation and support

Overall, I would not recommend the Xhej Price Action EA at this time until more trading statistics and performance validation become available. The lack of any real-time verified results makes this EA a high-risk proposition for most traders.

However, traders comfortable with the risks involved may still wish to give the 60-day trial a try, understanding that long-term profitability remains unproven. As always, proper risk management is essential when using any automated trading system.

Author: Dominic Walsh
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I am a highly regarded trader, author & coach with over 16 years of experience trading financial markets. Today I am recognized by many as a forex strategy developer. After starting blogging in 2014, I became one of the world's most widely followed forex trading coaches, with a monthly readership of more than 40,000 traders! Make sure to follow me on social media: Instagram | Facebook | Linkedin | Youtube| Twitter | Pinterest | Medium | Quora | Reddit | Telegram Channel

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