Hippo Trader Pro is a Forex expert advisor that was launched in February 2021. It is sold on the MQL5 website. The current price of this EA is $299, which is not that expensive compared to other systems. There are a couple of rental options available for this robot. For the 1-month rental plan, you have to pay $199, while the 3-month plan costs $269. The vendor offers a free demo version for testing purposes, but there is no money-back guarantee.
Is Hippo Trader Pro good?
This EA is available at an affordable price and is supported by verified trading statistics and historical test results. However, there is not enough information on the developer. Also, the live trading performance has been quite disappointing.
Features of Hippo Trader Pro
Hippo Trader Pro is a robot that only trades in the EUR/USD pair for the M1 timeframe. You can use it with any broker of your choice. Although the minimum deposit for this system is $1000, the vendor recommends using $3000 for best results.
You can program the start and stop times for the trades as well as the maximum number of orders. It is also possible to adjust parameters like take profit and stop loss. The default global stop loss is set at $1000 per 0.01 lot size.
|Trading Terminals||MT4, MT5|
What strategy does Hippo Trader Pro use?
Hippo Trader Pro is a trend-following system that remains active mainly during the European and Asian sessions. For analyzing the market, it does not use obsolete patterns and indicators. Instead, it searches for the major trend and makes its entries based on the ATR filter indicator. It predicts the probable future trend with the help of a trend pattern. For identifying the trend, the robot uses the Relative Vigor Index oscillator.
Backtesting vs live trading results
For this backtest, the EA conducted 8644 trades, winning 77% of them. The test was conducted from 2003 to 2021 with a risk value of 10. Hippo Trader Pro generated a total profit of $10,268,484.33. The relative equity drawdown for this test was a bit high at 26.72% and the profit factor was 3.82. There were 26 maximum consecutive wins and 3 maximum consecutive losses.
This demo trading account on Myfxbook was launched on June 22, 2021. After conducting 202 trades, the win rate currently stands at 63%. Compared to the backtest, the profitability is slightly low but is still quite satisfactory. In spite of the decent win rate, we can see that the account is running at a loss of 2787.61 Euros.
The time-weighted return for this account is -27.94%. While the daily and monthly gains are -0.16% and -5.96% respectively, the drawdown is extremely high at 52.17%. Such a high drawdown indicates a strategy that carries a high risk of ruin.
From live statistics, it is evident that the robot follows a risky strategy – Martingale. We can see several large losses, some of which have occurred consecutively. The average win and loss for this account are 19.64 pips/€52.52 and -48.22 pips/-€128.52, respectively.
The core team
Michela Russo, the developer behind this robot, is a resident of Italy. We have very little information on this person and their trading history. They have been selling products on MQL5 for a couple of years. There is no official contact information and we don’t know anything about the other people they work with. Other EAs from this developer include Turtle Scalper Pro, Spider Crazy Pro, Panther Trader Pro, Squirrel Trader Pro, and Llama Crazy Pro.