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FxVoodoo Forex EA

FxVoodoo Forex EA

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(6 votes, average: 3.67 out of 5)
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Name FXVoodoo
Website fxvoodoo.com
Type EXPERT ADVISOR
Platform MetaTrader
Developer Other
Statement
Free
Price 199 $
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    Trading Style – Market Condition Adaptation

    Developer – Pranjali Agarwal

    Trade Length – 4-8 hours

    Forex pairs – EURUSD

    TimeFrame – 1 min

    Broker – FXVoodoo forex EA work with any Forex MetaTrader broker.

    Recommended Minimum deposit – N/A

    Price – $199 $179 (with $20 CashBack from ProfitF)

    FXVoodoo Manual – Download after Purchase

    Payment processor – Click2Sell click2sell logo

    Refund policy – No Refund Policy

    fxvoodoo cover

    FxVoodoo – Forex Expert advisor. Most developers name their EAs to reflect their strategy’s prowess in the market. This particular EA is no exception to that; FxVoodoo. Voodoo is actually a kind of witchcraft and hence we would assume that this EA has some particular charm while working the markets! However, the developer is said to believe in the practice himself.

    forex voodoo defination

     

    Away from the name; let us look at how the EA works in the market. Fx Voodoo works with several currency pairs but it is best suited for EURUSD on the 1 minute timeframe. It modifies its trading style depending on the current moment of trading. For this reason, it will adapt it trading style depending on various periods, for instance, it will trade differently depending on the day of the week or time of the year.

    FxVoodoo live myfxbook statistic

    Author of Myfxbook statement – Developer  Real (USD), MT4, 1:500, MetaTrader 4

    Link to Fxblue Statement

     

    Fx Voodoo’s site features a live chatand it would be among the very few EAs that give live support; unfortunately, the live chat button does not work and one can only email support or access help from the members area. Though this is an unverified claim, Fx Voodoo’s team states that it will donate 50% of the EAs proceeds to the needy!

    donate fx voodoo

    FxVoodoo Performance

    Let us start with the back-test performance shown by Fx Voodoo EA. It has been tested on different brokers including; Alpari and FXCM. Back-tests reveal that Fx Voodoo uses a trailing stop on almost every trade to guarantee profits once the trade moves to the desired direction hence most of the trades are closed by the stoploss.

    fxvoodoo robot MT4 sl modify

    Fx Voodoo Trailing Stop Feature

    Normally, strategies that show a high win rate have a poor reward to risk while those that have a high reward to risk show a low win rate. Fx Voodoo’s tests show the first characteristic; having a high win rate and a poor reward to risk where its average win is smaller than its average loss. However, it shows a very high win rate above 95% to guarantee profits.

    fxvooodoo test 1

    Figure; Fx Voodoo Backtest

    Fx Voodoo’s team guarantees profits of 100% – 1000% a year using this EA, so lets look at the live performance and see if it has lived to achieve such returns. Fx Voodoo has a live account verified by both fxblue and myfxbook. On the live account, FxVoodoo EA has traded for only two month showing a 237.62% return; this is a very high return considering the duration traded. Though this duration is not sufficient to properly analyze Fx Voodoo’s long term stability; it has already achieved the minimum return stipulated by the developer.

    fxvoodoo live performance

    Figure; FxVodoo Live Performance

    Trading privileges and track record is yet to be verified by the developer on myfxbook, however, the same account on fxblue shows similar statistics and hence we can say this is a true live account performance. It also shows a withdrawal $10,000 confirming this since with withdrawals are not possible on demo .

    fxvoodoo-fxblue

    Figure; Fx Voodoo Live Performance on fxblue

    The most interesting and attracting characteristic of Fx Voodoo is that it has 100% win rate on its live account performance. Though it has only taken 25 trades for the two months traded, it does not show a single losing trade.

    fxvoodoo robot no losers

    Figure; FxVoodo 100% Win rate

     

    Though this is a very impressive winning streak; it is important to monitor Fx Voodoo EA further since demo accounts trading the EA reveal that it has a very high level of drawdown. (See other more safe Forex Robots)

    drawdonw-fxvoodoo

    Figure; Fx Vodoo Drawdown on a demo account

     

    This revelation will definitely bring you to the conclusion that Fx Voodoo EA keeps loosing trades for a very long time waiting for them to recover from loss achieving a high win rate in the process. This cannot be correctly verified since the developer has chosen to keep open trades private.

    voodoo expert

    Figure; Fx Voodoo’s Open trades are private

    FxVoodoo Parameters

    ForexVoodoo is not a black-box and the user is able to change the available parameters.

    Here are some of the parameters available on Fx Voodoo;

    Lot size; the user is able to set the position size of the trades

    UseEquityPercentage; with this setting, the user can choose to risk a particular percentage of account equity on every trade e.g. 5%

    TakeProfit; this is the target for every trade

    Stoploss; this is the number of pips to exit a loosing trade.

    BEP; this setting allows the user to specify the number of pips a trade is allowed to move to the winning direction before the stoploss is moved to a point of breakeven

    Trailing stop; this is the number of pips the stoploss should advance to protect profits as the trade goes into profit

    Hedging; Hedging in this robot can be activated if the user’s broker allows it.

    Mondaytrade; The user can activate or deactivate trading on Mondays

    Fridaytrade; the user can activate or deactivate trading on Fridays

    Fx Voodoo Pros and Cons

    Pros

    Cons

    Conclusion

    The win rate on FxVoodoo is very impressive, however, users should monitor the levels of drawdown closely since the EA may be holding losses for a long period of time. The period used to test the EA on a live account is not also sufficient to make long term conclusions about Fx Voodoo. Apart from the demo account drawdown, the drawdown on the live account is still low for now and this is definitely an EA to watch and if purchased, a needy person somewhere will be grateful if the developer fulfills the promise to donate 50% of the profits to the needy.

     

     


    Please post comment/review about FxVoodoo, if you have any experience with this Forex MT4 EA!

    FxVoodoo price = $199, however you can buy it with Discount. ProfitF offers BONUS – $20 Cashback. … more info >>

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