FXGoodway EA Review

What should we know about FX Goodway X2?

FX Goodway X2 is the second version of the robot. It includes not only patterns and strategies from the original robot but also some of the brand-new ones. The presentation tells us that there are 17 different patterns in 2 sets. 

The presentation starts by describing the robot’s features. They are smooth profit, multi-session logic, auto risk calculation, and includes two different sets.

Smooth profit can be reached by running various patterns that allow to open and close trades in the best time and market shape. The multi-session logic allows the system to decide when the best market shape is and start more sessions without increasing drawdowns. The auto risk calculation is tunned to work automatically for those users who don’t want to customize it. 

FXGoodWay X2 Features

The devs upgraded FXGoodWay adding some brand-new features. These features include many patterns. It’ll be allowed to use Set1 or Set2 or both Sets at the same time. Set1 is based on the old version of FXGoodWay, Set2 includes new features. There totally are 10 patterns in Set1 and 7 patterns in Set2.

There are some of backtests fro Set1 patterns and Set2 ones.

The robot has been designed to run the grid strategy It trades in the direction of the trend, running one of the sessions. Every pattern independently open orders when the price moves in the opposite direction. The minimum required deposit is $700.

FXGoodWay results proved by myfxbook

It’s an account based on the main patterns from the original product. During a year and a half, the robot could get a +575% gain. The monthly profit is 10.3% with a high-level of drawdowns (36%). 

The robot trades not so many trades (449). It’s about one trade in a day. The average win and loss equal. It means that the stop-loss feature works not that well. The longs win-rate is 59%, shorts 74%. The average trade length is 3 days. The profit factor equals 2.41.

As we can see, profit from the short trades in 10 times more than from long ones.

According to the robot activities, it runs mostly the grid strategy.

At the start of the marketing period, the robot traded with high drawdowns and high profit, for the last half of a year it provides a really small monthly profit. 

The second account with the brand-new patterns looks the same. 

The high profitability at the start of selling the robot.

The last year showed how profitability went down slowly but surely. 

The offer

FXGoodWay X2 costs $365. Paying the price, we’ll get a license, free updates, and support.

The devs provide the 30-day money-back guarantee as well.

Conclusion 

Pros

• Very good profitability in 2018
• Two sets of the patterns
• 17 patterns were applied in the robot
• Backtests of two Sets are provided
• 30-day money-back guarantee

Cons

• Mediocre profitability in 2019-2020 years
• High drawdowns
• High price as for the +3-5% monthly gain robot
• Lack of patterns explanation
• Just one currency pair
• The robot can’t trade successfully long trades

Summing everything up, we’d like to notice that this robot has been great in 2018. In 2020 it looks very weak and outstanding, especially if we’d like to compare its profitability and the price.