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GPS Forex Robot MT4 EA V3
Pair:- EURUSD
Timeframe:- M5
Minimum Deposit:- $1000
Original price was: $149.00.$20.00Current price is: $20.00.
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Description
Our GPS Forex Robot 3 Review: In-depth
Forex GPS Robot has been available to purchase on the market since its launch in 2012. The robot developers are continually updating the software and are now on the third version, GPS Robot 3. It was created not just by software programmers but also by experienced Forex traders which is reflected in the longevity of the robot.
The robot has been used successfully by investment firms on Wall Street and official performance data shows it trades profitably. It is of significance as very few developers see their Expert Advisors deployed by investment houses who typically employ their own quantitative analysts to develop their own automated systems.
Our GPS Forex Robot 3 review will focus on the robot’s performance, set-up, and trader feedback.
GPS Robot Trading Strategy
The GPS Forex Robot is not a high-frequency trading EA and does not scalp the Forex market; there may be days when it does not trade with the trading focused on when the algorithms indicate a high probability that a trade will be successful.
The developers of GPS Forex Trading Robot are very guarded about the specific algorithms behind the Forex trading software, but the primary strategy employed is a stop and reverse strategy, which opens a trade in the opposite direction covering a trade that stops out.
When a trade reverses, the contract size automatically increases, which is part of this fully automated expert advisor’s built-in coding.
Verified Performance
The developers of GPS provide performance dating back to 2012 confirmed on a live Forex trading account on that you can see on the GPS site that has been verified in Myfxbook, the respected Forex account verification site. It shows how a $50,000 deposit has grown to more than $186,000 over the period by trading the EURUSD currency pair on the Forex markets.
Even more impressive is the verified performance of an investment firm that has used the robot where an initial deposit of USD 100,000 has increased to over USD 693,000 since 2012.
Although the real market trading performance is strong, the developer used the MetaTrader Strategy Tester for backtesting which uses prices generated from bar data instead of real price tick data. The result is a set of performance data that is no more than 90% accurate. For near on 100% accuracy, a tick data tool like Birt’s Tick Data Suite will pull real tick data from different data sources, including brokers providing for a more accurate analysis of historical performance data.
Installation
It is essential to use an STP / ECN broker to ensure that you are trading Forex with tight spreads for the robot to work efficiently. On your chosen broker, the MetaTrader 4 trading platform has to be first downloaded onto your computer before the GPS robot can be installed, and it will prompt the setting up of a Forex demo account.
GPS Forex Robot 3 is installed via a .exe file with the install location being the same as the MT4 folder.
Once the robot is installed, it is necessary to open the relevant charts, the feeds of which are required for the robot to trade. It is programmed to work with USDCHF, GBPUSD, EURGBP, and EURUSD and the chart timeframes are H1 or M15 on the MetaTrader charting software. Once you attach the robot to a chart, a smiley face indicates the robot is installed and ready to trade.
Trading parameters
After robot installation, trading parameters can be adjusted beyond the default settings to align to perhaps a more aggressive trading style employing increased risk. Lot size, leverage, and chart time frames are examples of parameters that can be adjusted.
Before live trading, robot settings can undergo backtests using the Metatrader strategy tester, a tool that is on the platform. It allows backtesting to find out how particular settings on the robot will perform set against historical data. A demo account needs to be active to use the strategy tester for backtesting.
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