Naragot Review

Naragot is an FX robot that comprises a portfolio of trading systems based on a trend-following approach. This EA uses support and resistance breakouts and volatility breakouts principles for its trades. As per the developer, seven strategies have been chosen from several successful methods and have resulted in good returns on real accounts. 

Is this a Perfect trend system robot still good to go? 

Alexander Mordashov is the developer of this FX EA. He is from Russia and has developed 9 products and one signal. His other products are the Naragot Telegram VPS monitor, Telegram Notifier, and more. He provides support via the message board on the MQL5 site and via the Telegram channel. We could not find a location address, phone number, and other vendor-related details. The insufficient support makes us suspect the dependability of this product. 

As per the developer, this FX EA does not trade frequently and does not make weekly profits but makes rare and accurate entries. He claims that it is not a tester grail or a curve fitting system. Rather he maintains that it uses fundamental principles and uses trend direction mainly. The ATS does not use indicators and relies on price action and two types of trend trading. It works on four currency pairs namely EURUSD, USDJPY, GBPUSD, and XAUUSD. Each position has an SL and TP with the TP higher or equal to the SL. The EA does not use dangerous methods like Martingale, grid, etc., and has customization of risk in the trading approach.

How to start trading with Naragot

You can buy this EA for $449 which is a promotional offer available for 10 copies only and further copies will be sold at $599. A free demo account is present with the package. No other details regarding the features available are present. There is no money-back guarantee which makes us suspect this is not a reliable FX robot. The developer does not provide info on the recommended deposit, leverage, and timeframe. A few settings for risk management, symbol names, EET offset, and backtesting are present. 

Naragot backtests

A few backtests are present on the MQL5 site for this FX EA. One of them is shown above. From the report, we can see the test has been done from 2016 up to 2021. For a deposit of $3000, the account had generated a net profit of 550858.39. The drawdown was 16.71% and the profit factor was 1.63. While the profits had been appreciable, we find the drawdown is a bit high and profitability is low. 

Trading results

A real USD account using the IC Markets broker and automated trading style with the leverage of 1:100 on the MT4 platform is shown here. We find that while the myfxbook site has verified the trading privileges, the track record is not verified.

From the trading stats, we see a total profit of 89.64% and an absolute profit of 87.85% have been generated with the daily and monthly profits being 0.05% and 1.51% respectively. The drawdown value is 38.20% which is very high considering the developer’s claims that the system does not use risky approaches. 

For a deposit of $4,999.98, the account started in March 2018 has completed 6000 trades with a profitability of 39% and a profit factor value of 1.11. We find the profitability is very low indicating poor performance. Furthermore, the trading history is hidden which raises a red flag. Comparing the real trading results with the backtests the drawdown is higher in the real trading and profits are low indicating an ineffective approach and poor performance.

People feedback

We found a few user reviews on the MQL5 site. Here are some of the testimonials of users.

From the above responses, we find that the EA has encountered a big drawdown and is performing poorly with big losses and minimal wins. The user feedback corroborates with our analysis of the performance of the EA in the backtests and in real trading. 

Wrapping up

Advantages 

• Fully automated
• Multiple strategies are used

Disadvantages

• High drawdown in real trading
• Overpriced
• Poor performance

Naragot is an FX robot that assures accurate entries and significant returns. Our evaluation of the various aspects of this expert advisor reveals it is not a reliable and safe investment. From the backtesting report and the real trading results, we find the drawdown is high while the profitability is low. Despite the claims of the developer that the system does not use toxic approaches, the results reveal an ineffective and risky approach resulting in poor performance. Furthermore, the product is exorbitantly priced and does not come with a money-back guarantee. The negative user reviews also confirm our suspicion that this is not a trustworthy FX robot.