FXConstant EA is a fully automated Forex robot compatible with both MetaTrader 4 and 5. The robot has real live trading statistics that we’re going to dive deeper into in the following trading algorithms and style review of FXConstant EA.
The trading logic of the EA is explained by the developer in the three-step guide on the official website. The first important thing about FXConstant is that the EA uses a specific Market analysis principle crafted by the developer which doesn’t use any indicators. There is no detailed info about the logic of the analysis but we know that the EA chooses the trading pattern that’s going to be used for the particular trade according to the previous Market analysis.
There are 20 different trading patterns that the EA can choose from. The developer of the FXConstant EA did a great job analyzing the market for a long period and identifying the 20 main market behavior patterns through extensive market research. The basic idea of this is to compare every single pattern known by the system to market conditions and to find a match between the market behavior and the pre-programmed patterns so that the system can start trading according to the pattern.
And the third and probably the most important is trade management of the system. FXConstant EA chooses the trade management algorithm according to the pattern chosen in the previous stage. So, basically, the system chooses how to manage the trade, when is the best closing time, what to do if the closed trade was profitable and if it closed in loss and when to stop the trading pattern work. This is a very interesting approach to trading because it makes trading very flexible and sensitive to precise market conditions. As we can see, this logic works pretty well as the system has been successfully trading for 20 months already. Here is a screenshot from the official FXConstant EA website with more about the trading logic of the advisor.
The system does not use a grid strategy but there is some kind of lot management in its trading. It does not look exactly like a Martingale trading but it might be some kind of modified reimagined way of lot management that’s based on the nature of the previous trade. As we can see from the following screenshot, the EA uses some kind of pre-set lot size for both winning and losing trades. There are 40 or 52 pips take-profit for winners and something very close for the losers as well – the number in the range of 40-45 pips.
FXConstant EA has made 146 trades since the beginning of the live trading. This means that the system has been making 7.3 trades per month which is not much for a particular EA. But this confirms developers’ statement about the nature of the FXConstant EA:
Pay attention! The EA is designed to trade accurately and carefully. Concerning this, there may be periods when only a few orders are opened in one month. This makes FXConstant very effective in combination with other systems allowing to minimize drawdown overlap.”
FXConstant EA does not keep trades open for a long time. Trade’s duration of the system cording to the Myfxbook statistics is in a range from 4-5 minutes to 6-7 days. Still, most of the trades are closed in a range of one hour.