EA Black Dragon uses a proprietary indicator for ensuring successful returns. The ATS uses SL or an increase in network orders with the help of the indicator color for opening the trades. You can buy this FX robot for $30. A free demo account is also present as part of the pricing package. We could not find further info on the features available with the package. There is no refund policy present which raises doubts regarding the reliability of the EA.
Is EA Black Dragon good?
We analyzed the features, support, and other characteristics of this FX EA. The developer does not reveal much info on the expert advisor. There are a couple of backtesting results present on the MQL5 site. No verified real trading results are present for this ATS. From the minimal info present, we are unable to assess the system fully. Using the strategy tester reports, we find the drawdown is high indicating a risky approach. When compared to the market average, the price of the system is affordable.
Features of EA Black Dragon
The lack of info related to the features, strategy, support, and other aspects looks suspicious. Other than the reference to the indicator, there are no details on the trading approach, recommendations, etc. A list of inputs for the trading is given include the use of Buy/Sell, hedge, maximum spread, magic number, autolot, time frame selection, and more. But these do not provide a proper insight into the system.
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What strategy does EA Black Dragon use?
We could not find the strategy for this EA as the developer does not divulge the method used. Besides the mention of using the proprietary indicator, the author fails to provide info on the strategy. Since the approach is a vital influencing factor in deciding the reliability of a system, the lack of transparency raises doubts about the EA.
Backtesting vs live trading results
A couple of backtesting results are present on the MQL5 site. Shown above is one of the backtests done on the EURUSD pair from 2010 to 2020. For an initial deposit of $1000, the ATS had generated a net profit of 117055.94. A total of 3209 trades were completed with 68.21% profitability and a profit factor of 1.55. The maximum DD was 63.56. From the stats, we can see the drawdown is very high indicating the approach used is of the high-risk category.
While the other backtesting results have a lower DD for the GBPUSD pair, it still indicates a high value. The high drawdown in the two results confirms our suspicion that the approach used is risky and can make you lose a big chunk of your capital. There are no real trading results present to compare the backtesting results with. The absence of real-time trading data raises further reservations regarding the dependability of the system.
The core team
Ramil Minniakhmetov is the developer of this FX robot. As per his MQL5 profile, he is based in Russia and has more than 8 years of experience in developing FX tools. He has created 11 products and 6 signals. Other products of the developer include Hamster Scalping, Asia Trend, Legend Wall Street, and more. There is no info on other team members. The developer does not provide contact details like location address, phone number, etc. Other than a Telegram Channel link, the developer does not provide contact info. The other option that is available for products on the MQL5 site is the direct messaging feature on the site.