FXTrackPro EA Review

FXTrackPro EA is available in two different versions: in the basic version which allows trading on 3 currency pairs (EURUSD, GBPUSD, USDJPY), and in the Super version which allows trading on 6 currency pairs (EURUSD, USDCAD, GBPUSD, EURJPY, USDJPY, and CHFJPY).

As it’s been mentioned the EA has got 3 live trading accounts on Myfxbook which trade on different currency pairs. The statistic for FXTrackPro EA on EURUSD pair is available on the Myfxbook account named “FXTrackPRO_EURUSD”, the statistic on USDCAD pair performance is available on “FXTrackPRO_USDCAD” account and the statistics for trading on all of the 6 pairs is available on the “FXTrackPRO_6pairs” account which represents the Super version on the FXTrackPro EA.

The best performing account of the robot is the FXTrackPro Super EA which works on 6 currency pairs. Having only 5 months of live trading the EA was able to collect 462.98% of profit having a maximum floating drawdown level of 29.43%.

Taking into account all the statistics of FXTrackPro Super EA live trading we can calculate an approximate profit/drawdown ratio of 3:1 which actually looks pretty high.

The two other accounts have lower performance levels but still, go pretty high for as if comparing with the average Forex robots out there. FXTRackPro EA shows 202.26% of the profit on the EURUSD account and 241.51% of the profit on the USDCAD account which in the perspective of only 5 months of live trading and together with 30.66% and 30.54% of drawdown respectively still looks very good (look on the screenshots below).

The profit/drawdown ratio for those two live accounts is quite similar as we see that the statistics of them are also close. So, the ratio for the EURUSD account is 1.3:1 and for the USDCAD it is 1.5:1. These results are also impressive as for only 5 months trading period. There is still almost 40% more profit on the USDCAD account which gives it 0.2 points in the ratio comparison.

There is not much information about the specific trading strategy or algorithms of FXTrackPro EA given by developers. All that is said about the trading logic of the robot is this:

“Our Expert Advisor works with 3 different types of indicators at once. The interesting thing is that the EA does not use them simultaneously to determine an entry point, it uses them based on a certain algorithm. It means that in one situation FXTrackPRO takes the data from one indicator and starts trading, and in a different Market situation, it takes into account another indicator in order to choose the best entry point, and use an appropriate trading style in the current Market conditions. This approach made it possible to achieve great efficiency in profitability and reduce drawdown”.

But when analyzing trading history, we can see some kind of a Martingale tendency. The three levels of trading logic explained by the developer might be working in like a lot-rising after closed unprofitable trade. It seems that it could be one or even two trades with a risen lot-size. Mostly, those trades close in profit which is clearly could be seen on the trading curve from Myfxbook.

For example, on the trading graph of the USDCAD account, we can clearly see some wavy-looking up and down moves that represent the logic explained before. It should be noticed that downward moves are not any kind of unexpected stop losses or something like that. It seems that this is the logic of the EA.

If we look at the chart below, it is easy to see the same logic in a different way. There should be some kind of default value of pips in profit when the system closes profitable trade. (In this example it is 40 pips). And if the trade is unprofitable it closes and the following trade raises lot-size to overlap losses (check out the screenshot below).

So we can guess that this is some kind of modified Martingale system that does not use griding and does not keep a set of trades in the market as the normal Martingale grid systems do.

The trades duration of FXTrackPro EA differs on certain accounts. The average trades duration time on the FXTrackPro Super EA of 6 currency pairs account mostly does not cross 9 days (look on the chart below).

The same indicator for two other accounts is mostly under 3-4 days which leads us to the conclusion that the EA does not keep trades open for a long time.

During the trading period of the Super version of the robot, FXtrackPro EA made 261 trades, which on average is 2.9 trades per day (look at the chart below). The ratio between winning and losing trades is 58/42%.

The same statistical indicator for two other accounts is way lower which is explained by the fact that there is only one currency pair each EA trades on. The average trade-per-day statistic for those accounts is 0.7 for the USDCAD account and 0.3 for the EURUSD account.