Atlas EA Review – Is it scam or good forex system? explained by professional Forex trading experts the “ForexSQ” FX trading team
Atlas EA Review – Is it scam or good forex system?
A lot of the Expert Advisors currently available on the market are dangerous grid, martingale or hedging systems. We would like to present you a different system, the Atlas EA.
The developers of the Atlas EA have only stated this is an “intra-day trend following system”. After analyzing the past results, we would rather agree with this claim.
What we can definitely conclude, is that this is not an Asian Scalper, judging by the time of day it trades:
Furthermore, the profit chart, which we will get to in a moment does not appear similar to that of a grid-based system. As you may know, a grid is a trading technique, which counters the predominant market trend. It can lead to amazingly looking results, but eventually most systems blow-up the entire trading account. For a more detailed explanation of the risks involved with these systems read this post.
The Atlas EA has been running on a verified MyFxBook account, registered with TickMill for slightly more than 2 years (at the time of writing of this review). A few withdrawals have been made, which do not do the return percentage calculations any favors. While frequent deposits and withdrawals are one of the signs of a fake MyFxBook account, this is not the case for this system. There trading performance does match the gains.
While the peak is below the 30% threshold, drawdowns are quite frequent. This is yet another indication we are not dealing with a grid-based system, but rather some sort of actual system based on technical analysis.
When it comes to the average pips per trade the situation is hard to judge, as the Atlas EA has also traded XAU/USD (similarly to the SFE Price Action EA). When trading gold the price movements are much bigger, than those in currency pairs and this distorts the statistics. While the actual number sits at a comfortable 14.6 pips/trade, this must be taken with a grain of salt. We do not recommend dealing with systems, which score under 3 pips per trade, like the FX Secret EA.
The Atlas EA is only available via MyFxBook’s Autotrade. This may not satisfy some potential investors, but trill others. In case you don’t know the Autortrade functionality of MyFxBook is essentially a system, which allows you to follow the people, who have listed their strategies as available. You would have to open (or previously have) an account with one of the participating brokers and then follow an EA. You would then have to pay wider spreads, only on the winning trades. Some people love this system, while others dislike it, as it creates the incentive to develop robots which close winning trades, way before their full potential is reached, in order to rake more in commissions.
Atlas EA Review – Is it scam or good forex system? Conclusion
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