Forex Trend Hunter is an MT4 tool that claims to be profitable in the long term. It is a trend-following system that promises high returns with every transaction you make. This FX EA works on five currency pairs and uses a sophisticated recovery process for ensuring minimal losses and maximum returns. It is available for $129. You get one real account and two demo accounts with the package. Other features included with the package are 24/7 support, lifetime updates, and a 60-day money-back guarantee.
Is Forex Trend Hunter good?
Automated Forex Tools is the company promoting this FX EA. The company does not provide info like its location, phone number, etc. While there are backtesting reports and demo trading results verified by the myfxbook site, the vendor does not provide real account results. On evaluation of the trading results, we find big lot sizes are used indicating a risky approach.
Features of Forex Trend Hunter
The significant features of this FX EA include:
- It is a 100% hands-free system that does not need manual intervention.
- Sophisticated loss recovery is present that enables high profits even in unsuitable market conditions.
- An inbuilt account and money management feature is present.
- The ATS protects you from unfair broker practices.
- It is fully customizable and can adapt to individual requirements.
- The system can make profits of more than 300 pips for a single transaction.
- It works on the EURUSD, GBPJPY, EURJPY, USDJPY, and USDCAD pairs.
|Money Refund||60 days|
What strategy does Forex Trend Hunter use?
A trend-following approach is used by this FX EA. The recovery process used by the robot ensures that you make profits even in unsuitable market conditions. As per the vendor, the system is well adapted to suit the dynamic and ever-changing market conditions.
Backtesting vs live trading results
Many backtesting reports are provided by the vendor on the official site. Here is a backtesting report for the EURUSD pair using the H1 timeframe and executed from 2010 to 2021.
From the above report, we can see the total net profit was 19992 for an initial deposit of 10000. Profitability of 59.05% and a profit factor of 1.72 are present for the account. The maximum drawdown for the account was 25.47%. A total of 1331 trades were completed for the testing which had a modeling quality of 90%. From the results, we can see the drawdown is a bit high indicating a certain level of risk in the approach. Further, profits are not high which also shows an ineffective performance.
A demo USD account using the leverage of 1:500 on the MT4 platform is present for this FX EA. Here are a couple of the screenshots:
From the above stats, we can see a total gain of 25.72% and an absolute profit of similar value are present. The daily and monthly profits are 0.11% and 3.33% respectively. A drawdown of 23.58% is present for the account that was started in July 2021 with a deposit of $5000. A total of 268 trades have been completed with a profitability of 54% and a profit factor of 1.41. It’s not good trading statistics. The trading history reveals lot sizes of 0.07 and 0.14 are used. From the big lot sizes, we can see that the approach is risky. Further, comparing the backtesting with the demo account, it is clear that the profitability and drawdown are high showing a risky approach is used by the EA.
The core team
As per the info on the About Us section, the Automated Forex Tools company has been in the market for 12 years and comprises a team of veteran FX traders and developers. There are no further details on the developer team, the location of the company, contact details, etc.