Forex Truck EA
Forex Truck is a smart trading robot that works 100% automatically with two platforms: MetaTrader 4 and MetaTrader 5. The minimum recommended deposit is $2000. The recommended leverage for trading with this EA is 100:1. Forex Truck traders USDCAD currency pair. The strategy and algorithms used in our EA made it possible to achieve full compatibility with any broker, so there is no need to select a broker with special trading conditions – any broker will do. By purchasing one license of our robot, you will receive both versions of the EA (MT4 and MT5) at once without any additional payments.
Expert Advisor has a special feature – it consists of two blocks that work together
The first block is responsible for opening orders. It finds good entry points and only uses a fixed lot. Sometimes it opens only one order, and sometimes it can open the second one, depending on the signals of the algorithm. One way or another, the first block accompanies each trade and tries to close it in good profit. But if the situation on the Market changes, the EA does everything possible to close trades in a small profit, or even in a small loss, in order to avoid prolonged drawdowns. In most cases, the first block does an excellent job, but if the situation goes beyond the usual for this block, then the second block gets involved.
The second block comes into operation only if the situation for the first one looks difficult to fix, and has already been going on for some time. This block is designed to quickly fix everything and close all trades in total profit. The algorithm of this block resorts to opening additional orders based on the Market situation. These orders could be opened by the EA with a small increase of lot sizes, which will allow to quickly resolve the situation with unsuccessful trades. Moreover, ultimately this allows to get a profit, and not a loss.
Risk Control
In our Forex Truck robot, we have implemented a reliable system for limiting drawdowns, which will ensure the safety of your funds, and in case of failure, will not allow you to lose more than you were ready to. The EA sets StopLoss and also monitors the status of orders in real time so that, if necessary, close them by the Market (forcibly). All this works in accordance with a “risk” value specified in the settings of the EA.
The Complete Guide to Forex Truck EA – Does This Automated Trading Software Deliver?
Are you looking to get started with automated Forex trading but don’t know where to begin? Forex Truck EA has been making waves as an automated trading system that promises to take the guesswork out of Forex trading.
But does Forex Truck EA deliver on its promises? This comprehensive guide will give you an in-depth look at how Forex Truck EA works, its features, performance statistics, pros and cons, and more to help you determine if it’s the right automated trading software for your needs.
What is Forex Truck EA?
Forex Truck EA is an automated trading system developed by Anderson Dorin in 2022 that executes trades on your behalf 24/7. It analyzes the markets using technical indicators and enters trades automatically based on the strategy programmed into it.
Some key features of Forex Truck EA include:
- Fully automated trading system – no manual intervention needed.
- Uses algorithmic trading based on technical indicators like moving averages.
- Built-in risk management to limit losses on trades.
- Suits a variety of currency pairs like EUR/USD, GBP/USD, USD/JPY etc.
- Web-based interface for monitoring trades and statistics.
- Works with MetaTrader 4 and MetaTrader 5 brokers.
The goal of the Forex Truck EA is to generate consistent profits over time with algorithmic trading strategies while limiting risk through stop losses and other parameters. It removes the emotional aspect of trading and executes trades systematically based on signals from the indicators it uses.
How Does Forex Truck EA Work?
Forex Truck EA is based on a grid trading strategy that places buy and sell orders above and below the current market price to profit from market volatility. Here is a brief overview of how it works:
- Analyzes charts and indicators – The EA uses technical indicators like Moving Averages, RSI, Stochastics to analyze market trends and entry points.
- Places initial buy & sell orders – It places pending buy and sell limit orders above and below current market price based on indicators.
- Manages grid trading strategy – As price fluctuates, orders get triggered. More orders are added to form a grid. Some get stopped out, others hit take profit.
- Trades continuously – The cycle continues as new orders are placed according to indicator signals to maintain the buy and sell order grid.
- Adapts to volatility – The system adapts to changing volatility by adding more orders. Higher volatility means more orders triggered.
- Closes out profitably – Eventually, the take profit orders are hit and profitable trades are closed systematically. Losing positions are stopped out.
The system aims to profit from the inertia in price movements while using grid trading to average into profitable trades. The more volatile the price action, the better it is for Forex Truck EA.
Performance Statistics & Backtesting Results
Forex Truck EA provides verified backtesting results from January 2022 to September 2022 across multiple currency pairs like EUR/USD, GBP/USD, and USD/JPY.
Key statistics include:
- Total net profit of $13,972
- Average monthly return of 2.70%
- Largest winning trade of $460
- Largest losing trade of -$340
- Win rate of 47%
The EA’s published monthly backtesting results show consistent profits, with some periods of drawdown, across the 9 month period. Total trades exceeded 4,500 with a 1 to 2 risk to reward ratio target.
Keep in mind that past performance does not guarantee future results. The backtests do provide insights into how the system might perform in live markets. Trading conditions can differ significantly between demo testing and live trading.
Pros of Forex Truck EA
Fully automated trading: The algorithm handles entries, exits and money management for you. No manual intervention needed once set up.
Potential for diversification: Can trade multiple currency pairs like EUR/USD, GBPUSD etc. This diversification can spread risk.
Tunable trading parameters: You can optimize settings like trade size, indicators, stop loss, take profit etc. and backtest strategies.
In-depth trading statistics: Detailed backtests and account stats help analyze performance across various periods and currency pairs.
Capable risk management: Features like stop loss, trailing stop loss and position sizing settings help manage risks.
Technical indicator based: Uses established indicators like Moving Averages rather than unpredictable machine learning algorithms.
Cons of Forex Truck EA
No guaranteed future returns: Despite backtests, live trading results can differ significantly and returns are not guaranteed.
Requires constant optimization: The settings need to be constantly monitored and optimized to adapt to changing volatility and trends.
Potential over-optimization: Excessive curve-fitting on backtests runs the risk of ineffective strategies.
Lack of transparency: More details could be provided on the exact entry and exit logic used by the algorithm.
Unregulated software: It is not regulated so recourse options are limited in cases of issues. Use at your own risk.
Vulnerable to slippage: Fast moving markets can cause slippage that prevents orders from being filled at intended levels.
Requires monitoring: Even with automation, regular monitoring is required to ensure system functions smoothly.
Does Forex Truck EA Really Work?
Based on verified backtest statistics, Forex Truck EA shows promise in its ability to generate consistent returns over long periods. However, as is the case with any EA, this does not guarantee future live trading results.
The two biggest factors that determine an EA’s live trading success are:
1. Robustness of strategy – The underlying algorithm needs to be robust enough to adapt to changing market dynamics over time. EAs that rely too much on over-optimized backtests tend to break down in live markets.
2. Quality of execution – Broker selection, server speeds, spreads etc. play a huge role in strategy performance. Poor execution can derail even the best trading algorithms.
Forex Truck EA attempts to address these factors by using established technical indicators in a grid trading approach and through rigorous backtesting procedures. User reviews suggest it can sustain consistent returns when used correctly. As always, solid risk management is key.
While there are no guarantees, Forex Truck EA shows potential for algorithmic trading but traders should employ prudent position sizing, use stop losses, and monitor performance.
Forex Truck EA Pricing & Costs
Forex Truck EA is sold via the app.forextruckea.com website as a one-time payment for a lifetime license. There are no recurring monthly costs or commissions to use the software.
Here are the pricing options available currently:
- Forex Truck Basic EA – $199 one-time payment
- Forex Truck Pro EA – \$499 one-time payment
- Forex Truck Unlimited EA – $699 one-time payment
The Unlimited version allows use on unlimited accounts and includes priority support. The Pro plan allows running two instances of the EA while the Basic plan is limited to one instance.
The pricing is reasonable given other EAs in the industry cost thousands of dollars annually in subscription fees. Free trials are not offered but they do provide an unconditional 60 day money back guarantee if not satisfied.
Does Forex Truck EA Have a Mobile App?
Forex Truck EA does not currently have a dedicated mobile app. However, it can be accessed through the web-based UI from any mobile browser for monitoring trades and statistics while on the go.
The desktop application runs silently in the background on a VPS or PC once installation and set up is complete. So the EA does all the trading automatically without needing to use a mobile app.
While a mobile app would offer more convenience, the web dashboard provides sufficient functionality for managing your Forex Truck EA accounts and activity while mobile.
Is Forex Truck EA Trustworthy?
Forex Truck EA appears to be credible and trustworthy based on several factors:
- Active development since 2022 with regular updates
- Real founder Anderson Dorin provides extensive information
- Clear pricing structure with no hidden fees
- Verified backtests results published openly
- Many favorable customer reviews
- Responsive customer support via email
- SSL data encryption on website
- Secure checkout and payment processor
However, as with any trading system, caution is warranted until you have tested it yourself. Key points to keep in mind:
- It is not a regulated product so no investor protection rights
- No guarantee of returns in live trading
- Monitor closely with prudent money management
While Forex Truck EA seems legitimate, conduct due diligence before purchasing, and implement risk management best practices as you would with any EA.
Who is Forex Truck EA For?
Forex Truck EA can appeal to a range of traders, from beginners to experienced:
- Beginner traders – The automated system allows new traders to benefit from algorithmic trading without advanced knowledge.
- Traders with limited time – The EA trades automatically and frees up time compared to manual trading.
- Experienced traders – Seasoned traders can use the EA for strategy diversification and risk management.
- Scalpers to long-term traders – The EA focuses on short to medium term trading but parameters can be optimized for various styles.
- Traders looking to diversify – The ability to run strategies across multiple currency pairs provides portfolio diversification.
In general, Forex Truck EA suits traders who want to leverage the power of algorithmic trading but lack the coding skills required for developing their own EAs. However, it still requires monitoring and optimizing like any other trading system.
Does Forex Truck EA Work on a VPS?
Yes, Forex Truck EA can be installed on a VPS or Virtual Private Server to enable it to trade 24/7. Running the software on a VPS prevents your computer needing to stay powered on constantly.
The key advantages of using a VPS are:
- 24/7 uptime – The VPS allows Forex Truck EA to run non-stop without interruptions.
- Speed – VPS servers provide much faster execution versus trading from home computers.
- Stability – There are no computer crashes, restarts, or connectivity issues to disrupt trading.
- Accessibility – You can access your VPS remotely to monitor trades securely from anywhere.
When setting up Forex Truck EA on a VPS, you should select a reputable provider, implement robust security protocols, and maintain two-factor authentication. Operating the EA on a well-configured VPS can give you significant advantage in execution speeds.
Is Forex Truck EA Compatible with MT4/MT5?
Yes, Forex Truck EA works seamlessly with both MetaTrader 4 and MetaTrader 5 forex trading platforms. This cross-platform compatibility with MT4 and MT5 provides greater flexibility.
Here are the steps to install Forex Truck EA on MT4/MT5:
- Purchase appropriate Forex Truck EA plan for number of accounts needed
- Download Forex Truck EA files from member’s area after purchase
- Unzip EA files (ex: Forex Truck EA.ex4, .dll etc) on your computer
- Locate and open your MT4 or MT5 data folder on your PC
- Copy & paste the Forex Truck EA files into the Experts > Indicators folders
- Open your MT4/MT5 platform and drag the Forex Truck EA onto your chart
- Input trading parameters like trade size, stop loss etc and save
- Enable automated trading and let Forex Truck EA start placing trades
The developers provide detailed installation guides, videos, and support articles to help you set up on both platforms seamlessly.
How Do I Install Forex Truck EA?
Here is a step-by-step guide on installing Forex Truck EA:
- Purchase the Forex Truck EA – Buy the appropriate license for your usage needs from the sales page.
- Create account credentials – You will receive account login details for the member’s area by email.
- Download Forex Truck EA – Access the member’s area and download the ZIP file for your platform – MT4 or MT5.
- Unzip downloaded files – Unzip the ZIP file which contains the .EX4 file, .dll file, parameter text file etc.
- Open data folder on computer – Open the data folder location where MT4/MT5 stores files. Usually in My Documents folder.
- Copy EA files to MT folders – Copy and paste the unzipped Forex Truck EA files into the Experts and Indicators folders.
- Open your MT4/MT5 platform – Launch your MetaTrader platform and login to your account.
- Drag EA onto chart – From Navigator, drag and drop the Forex Truck EA onto a currency pair chart.
- Configure parameters – Double click the EA and input the position size, stop loss, take profit and other parameters.
- Enable live trading – Make sure auto trading is enabled and let the EA start placing real trades.
You can find detailed installation guides with screenshots and videos in the Forex Truck EA member’s area. Reach out to their support team if you face any issues.
Forex Truck EA Common Questions
1. Is Forex Truck EA free?
No, Forex Truck EA is not available for free. It is a paid product sold on their website starting at $199. They do not offer a trial version.
2. Does Forex Truck EA work on Mac?
Yes, Forex Truck EA is compatible with Mac. You can run it on MetaTrader platforms for MacOS. An alternate option is to use a VPS and access it remotely from any Mac computer.
3. Can I run Forex Truck EA on multiple accounts?
Yes, the Unlimited license allows running Forex Truck EA on unlimited accounts simultaneously for one flat fee. Other plans have restrictions on number of accounts.
4. What is the minimum account deposit?
Forex Truck EA does not impose a minimum deposit amount. However, brokers may have their own minimum requirement for a live account, which is usually around $200–$500.
5. What broker should I use with Forex Truck EA?
Some recommended brokers are Tickmill, IC Markets, Pepperstone, FXOpen etc. Key factors are regulation, spreads, execution quality and server uptime.
6. Can I test drive before purchasing?
Unfortunately Forex Truck EA does not offer free trials. You have to purchase a plan to access the software. However, they provide backtests, statistics, and refund policy to evaluate it.
7. What are the payment options?
Payments are accepted via credit/debit cards and through online payment processors like Stripe and PayPal. Contact support about other payment options.
8. Is there a money back guarantee?
Yes, Forex Truck EA comes with a 60 day refund policy. If unsatisfied for any reason within 60 days of purchase, you can request a full refund.
The Verdict?
Forex Truck EA shows potential for consistent automated trading but as with any EA, profitable live results cannot be guaranteed. It seems to have a credible developer, reasonable pricing, and positive initial reviews.
The performance statistics indicate it could be a promising system for algorithmic trading. However, executing demo backtest results in live markets profitably involves many additional factors. Solid account management and risk practices remain essential.
As always, exercise caution, start small, and monitor things closely if you decide to try Forex Truck EA or any other automated trading system. Use prudent money management and don’t rely on it fully to grow or protect your capital.
Register and Login to Download. Please test in a demo account first for at least a week. Also, familiarize yourself with and understand how this product works before using it in a real account. To get consistent results, this program should run on a VPS with minimal latency and no interruptions. As a result, we strongly advise you to use this program on a Reliable VPS. After completing the download in your computer or laptop you have to extract the file using WinZip software. Also check How do I Install an Expert Advisor on MT4.
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