It’s a new EA, so I did a forum search to learn more on it, but nothing returned. Their website is “mercuryfxbot.com” and the trading results are very promising. Curious on your thoughts about it. Thanks!
Hi, I just registered on this site, stumbled on your question while googling for the same thing you were looking for. I purchased the EA 3 days ago, never had any problems with ClickBank in case I needed a refund (buy quite a lot of stuff online via them) so felt pretty safe in that sense.
I run my live account on a combination of EA’s, fapturbo, fxdroid, and several free EA’s and some I developed myself. mfx is still running on a demo account, and can’t really tell you anything about the performance yet except for the backtesting:
testing from 2008-05-01 to 2009-05-01
initial deposit: 5000
net profit: 3882
profit factor: 2.66
max. drawdown: 7.97%
winning trades: 88.24%
trades: 85
This was using their safe/conservative strategy, so profit’s aren’t very high but the same goes for the drawdowns.
It’s very different from eg. fapturbo, it’s not a scalper but more sort of a position trader, it works on the H4 chart and goes for profits around 60 pips, stoploss is usually about 170 pips. And 85 trades in a year is not much of course, in fact, there are weeks without any trades at all.
I think this has some potential when combined with several other EA’s, because of that difference, when others mess up this one will probably do better and vice versa. I’ll just forward test it for the next few weeks, I still have 57 days to get a refund if I don’t feel confident about it.
[B]edit:[/B]
Just did another backtest with lower spread (1.6 pips instead of 4.5) and I now have:
net profit: 5221
profit factor: 3.80
max. drawdown: 8.25%
winning trades: 91.46%
trades: 82
Seems that their claim that it is unaffected by high spread because it is position trader is only half true, on the one hand it’s pretty obvious that spreads do have an impact on the results, on the other hand, i’ve never seen spreads of 4.5 during normal trading hours.
The high spread was a pretty good “worst case scenario” test though.