EA Smoke Review

EA Smoke works with a minimum deposit of $50. The robot is available on the noted MQL 5 market place where traders can download it for $149. Our article will discuss the trading performance of the system and see if it is reliable for your investment or not.

Is EA Smoke still profitable?

The track records available on Myfxbook show that the system has started trading recently from June 14, 2021. The statistics are not enough to confirm if the robot is profitable or not. We have to wait and see if it trades consistently for an extensive period.

Vendor transparency

Vitali Vasilenka is the original author of the robot. He resides in Belarus and has experience of one year on the MQL 5 marketplace. For a total of 458 reviews, he has a rating of 4.6. The author has ten products published in the MQL 5 marketplace with 15 signals and 102 subscribers.

Strategy

The developer states that the expert advisor follows a trend-based strategy without the use of a stop loss and take profit. There are no grid and martingale strategies involved. It works on the M5 chart on USDCAD, EURCHF, EURUSD, USDCHF, EURAUD, AUDUSD, and GBPUSD. ECN brokers with minimal slippage are recommended. Looking at the trading history on Myfxbook, we see that the trades do not come with a stop loss and take profit. Trades are held for 1 hour and 17 minutes which conforms to a day trading approach.

How to start trading with EA Smoke

The algorithm will be placed within the experts’ directory of the MetaTrader platform after purchasing it from the MQL 5 marketplace. Afterward, traders can enable the auto-trading button and place the EA on respective charts to begin trading. As mentioned before, it can work with a minimum balance of $50. 

There is no recommendation on leverage; however, the developer uses 1:500 for his trading account on Myfxbook. 

Price

The robot is available for a one-time price of $149. As the product is being bought from the MQL 5 marketplace, there is no money-back guarantee. 

EA Smoke backtests

Backtesting results are available for EURUSD from 2003.05.01 till 2021.04.15. The developer does not provide a detailed statement. The robot starts trading with a $50 deposit and turns it into $18158497.78. It placed a total of 4182 trades with a maximum drawdown of 45.36%. It had a winning rate of 77.79% with a profit factor of 1.81. The average profitable trade was $12456.82, while the loss was -$24072.71.

Trading results

Verified trading records are available on Myfxbook that show performance from June 14, 2021, till the current date. The system made an average monthly gain of 67% during the period, with a drawdown of 7.92%. The winning rate stood at 56%, with a profit factor of 1.23. The best trade was $1.23, while the worst was -$2.23. There were a total of 94 trades with 0.94 lots traded. There were $1040 in deposits and $1000 in withdrawals. 

People feedback

Customer reviews are available on the MQL 5 marketplace. There are only three feedbacks that are too low to gauge the response from the public.

Summary

Advantages

The system has the following benefits:

• Available on the noted MQL 5 marketplace

Disadvantages

We have the following cons for the system:

• Myfxbook records show trading for a short duration
• Backtesting results are only available for EURUSD
• There is no money-back guarantee

EA Smoke has trading results for a short duration which is not enough to trust the trading performance. The robot trades without a stop loss and can therefore hit a high drawdown at any moment. Traders should avoid trading with such systems.