Red Horse Robot uses a top-bottom strategy for trading combined with an intelligent signal. The company claims that the algorithm gives monthly profits gains and has a low drawdown. To get more information, we will be discussing all the vital features of the expert advisor in this Red Horse Robot review.
Is a Red Horse Robot still good to go?
The algorithm works on a single currency pair XAUUSD and offers a 5 minutes time frame. The developer claims that the team of experts monitors all its activities, reducing the risk of losing your investment.
Vendor transparency
Sinry Advice is a team of EA developers and the author of the Red Horse Robot. The company’s founder is Sina Sinry, and it has been in business since 2019. The group has a total of 2 robots and one indicator in their product list, and there are 8600 active members to date. The vendor resides in the United Kingdom and provides the address of their office.
Strategy
The EA places the trade after getting suitable setups and has scalping systems that do 3 types of trading in one robot. Traders can run it on the 5 minute charts on XAUUSD. It will use a top bottom strategy and place grid orders if the market runs in one direction.
From the records on Myfxbook we also observe the use of martingale. It uses a day trading approach with an average holding duration of 4 hours and 35 minutes.
How to start trading with Red Horse Robot
Follow the following steps to get your system ready:
- Buy the product from their website
- Get the EA files on your computer by clicking on the download
- After downloading the files, go to the MetaTrader 4 platform and place the robot in the expert’s section
- Email the sellers your Metatrader 4 account number for activation
- Drag the robot onto the chart section
- Enable auto-trading
Features
Following are the key characteristics of Red Horse Robot:
- It comes with 1 real and 1 demo account.
- It can analyze fundamental and technical news .
- The EA has availability of customized news filters.
- It comes with risk and money management.
- It assures a maximum of 12%-23% expected monthly profit and a maximum drawdown limit of 9.7%
Pricing
The algorithm comes with two different packages: a monthly package starting from $59 and a yearly plan which costs $495.6. Both deals come with a 14-day free trial.
Red Horse Robot backtests
The algorithm comes with no backtesting records, so it is impossible to compare the robot’s past performance with the recent one.
Trading results
Red Horse Robot started trading in November 2021 with a gain percentage of +30.28%. Myfxbook records showed there were 510 trades, out of which 378 were positive and 132 negative.
With a total winning rate of 74% the robot had a profit factor of 1.40. The best trade was $52.82 while the worst was -$50.35. With an initial deposit of $1000 the current balance is $1302.84.
Drawdown constraint
The author states that the drawdown is maintained under 9.7%. However the records on Myfxbook provide a different story. The statistics are on a demo portfolio with a loss value of 19.85%.
People feedback
The company has a rating of 4.1 on Trustpilot for 115 reviews. One of the trader’s comments that the company does not take responsibility for their products. They are only making such systems to make profits for themselves.
Another user states they provide poor service and the possibility of not getting a refund.
Wrapping up
Advantages:
- Live trading records are available
Disadvantages:
- Poor reviews on Trustpilot
- Live records are on a demo, not real account
- The system is cost ineffective
The EA has negative reviews on Trustpilot, which raises questions about its credibility. The algorithm comes with live trading stats but does not provide any information on its backtesting records. There is little to no vendor transparency.
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