Forex Gump has a great reputation as an automated Forex advisor. This advisor was developed in 2017. In this time, the robot that executes transactions automatically has been mentioned in many publications, almost all of which are positive. This trading system has to be paid for. The developer has offered two versions for some time at prices of 399 or 199 euros depending on whether the advisor is to be used in a real account or three.
The advisor only works within a one-minute period. This is classic scalping. During the installation we can see that there are no technical indicators or any other tools of technical analysis. The currency pairs are listed in 9 units. Almost all currency pairs are volatile against the US dollar and the euro. These tactics can be used to trade systems that do not follow the advisors’ algorithms. The transactions are likely to be opened randomly by simple patterns or indicators.
The EA will be installed on Metatrader 4. The EA will be available immediately in the file you download after purchasing it. Although you can manually change some parameters, developers don’t recommend it because the risks increase. Theoretically a team consisting of traders and programmers takes into account all factors that could affect the market. According to the developers it is not recommended to change the parameters already defined in the EA.
Information about EA
- The minimum recommended starting balance is USD 4,400 or 4,000 Cents (USD $40)
- Minimum Initial Batch: 0.01 Lot
- Demo account is available: Yes
- Broker restrictions: No
The team that was formed by the creators of this robot, led by the famous Ukrainian developer and trader Andrew Kozak, is another interesting aspect. On the Internet, you can find a wealth of information on this trader. Andrew, for example, is also involved in the publication of trading systems on MQL5.
Some automatic robots that are universal are available for free. These free EAs could be based on several indicators, such as BSS Scalping EA. Andrew Kozak, the developer of the robot claims that it also includes the high profitability indicator in its algorithms. However, he does not disclose the exact algorithms. Forex Gump EA is a classic EA that opens orders randomly and tries to make a minimum profit.
Forex Gump EA Advantages
If you don’t want to trade in cents, the minimum deposit amount is too high. Many traders don’t have the money to make that deposit. The risk is too high to use a trading robot. The robot algorithm is not understood. The developer is not implementing any of his own developments, and is trying to earn money with the simplest trading system. It is possible that scaling may not be cost effective without using appropriate technical tools. This EA has no results that have been published on independent portals. Forex Gump EA screenshots are the only trading indicators posted on the developer’s website.
This robot has no special auto-running advisor. This EA is a good option for traders with a large budget who do not want to spend time trading themselves. There are many options to choose from. To start using the service, you need to have a minimum of $4,000 in your penny account or an equivalent amount. This requirement was likely set by the developer to prevent many small accounts during the launch phase. Scalping is the main concept here. It involves opening multiple transactions each day in different currency pairs.
Gump EA Forex is best used on multiple assets. Always follow economic calendar news to ensure you are able to stop the robot in time when fundamental factors become important. The absence of indicators can be a sign that the robot is unable to analyze the market fully.
This Forex service can be found at the following web address: https://www.forexgump.eu