Forex Profit Defender Review

What’s the reason to use Forex Profit Defender at the main account?

Today’s robot is Forex Profit Defender that has been developed by Automated Forex Tools. This EA is “is an advanced forex system for setting Trailing Stops to any open trade/position.” The robot also has got a feature that allows traders to trade manually.

It has three trailing stop algorithms:

• Simple trailing
• Bollinger bands trailing
• Parabolic SAR trailing.

When a trade is in X pips profit to set a stop loss Y pips from the open price. This way even the price to reverse the trade will be closed with Y pips profit. The main idea behind the simple trailing stop is “When the Simple Trailing Stop is enabled in Forex Profit Defender settings the robot watches all open trades and when the current profit of one of the trades is greater than X pips the robot sets Y pips trailing stop loss. The idea is to guarantee at list Y pips profit for the trade, in case that the price reverses.” Z pips numbers we’ll get if the trade goes in the right direction. 

The idea behind Bolling Bands Trailing Stop functionality is very simple. Bollinger Bands has three lines: Bollinger Upper Band, Bollinger Lower Band, and Bollinger Middle Band. Bollinger Middle Band is a Simple Moving Average. It is the base of the other two upper and lower bands. Bollinger Upper and Lower Bands measure the deviation. The upper one is the maximum positive deviation and the lower one is the maximum negative deviation from the middle band. Therefore, Bollinger Bands as an indicator is a great tool to show the market’s volatility.

The devs explained how it works at the buy example: “Let’s say we have opened a buy position according to Bollinger Bands indicator (the price breaks through the upper band). The price continues rising with every new bar. When the middle line becomes greater or equal to position open price the robot will set a trailing stop equal to bands middle line value. The robot will move the trailing stop with every new bar because with every new bar the middle line of Bollinger Bands will also move (rise). When the price becomes equal or lower than a middle line of Bollinger Bands indicator the trade will be closed on profit equal to the last trailing stop – which is equal to the highest value of the middle line of Bollinger Bands.”

For Parabolic Sar, let’s say there is a reverse and the Parabolic SAR dot appears below the price. This means that the price is trending up and we open a BUY position. With every new bar, the Parabolic SAR indicator also prints a new dot. When the Parabolic SAR dot is equal or greater than trade open price the robot will set a trailing stop equal to Parabolic SAR dot value. The same way with every new Parabolic SAR dot the robot will continue to move the trailing stop. When there is a new reverse the Parabolic SAR dot changes its position the price also starts falling down. But thanks to the trailing stop the position will be closed on a good profit equal to the Parabolic SAR last dot before the reverse to occur.

As well, the robot is enhanced by a signals system.

It provides traders with an opportunity to trade manually following signals.

The final list of robot’s features looks like this:

• 3 trailing stop systems
• Compatibility with all brokers
• Hidden SL and TP
• High Spread Protection feature
• High Slippage protection
• Money Management
• Broker Protection.

Pricing

The robot costs $41 with -$28 OFF. Paying the price, we’ll receive one real two demo accounts, support, updates, and a 60-day money-back guarantee. As usual, Forex Profit Defender also is available for trying it at two demo accounts. 

Summing up

Pros

• 3 trailing stop strategies
• Strategies are well-explained
• Setting well-explained
• Manual trading is allowed
• Providing a trailing stop feature for other EA at the account
• Cheap price
• Availability to try it at the demo account for free
• A 60-day money-back guarantee

Cons

• No backtests provided
• No trading results provided
• No people feedback provided
• Cheap price
  

Forex Profit Defender cab be useful at the main account of yours for some reason. The first one is that you can trade manually, the rest manages by the EA. The second is that the robot can provides trailing algorithms for every robot at the account. The robot was enhanced by a broker, high slippage, and high spread protection. The offer is cheap as usual. You can try a robot for free or buy it for $41.