RayBOT – Forex robot – an advanced forex trading expert advisor which comes out of the stable of Phibase Technologies. The product was released early 2016 after some extensive beta testing and backtest optimization.
Trading Style – support/resistance theory
Developer – Phibase Technologies
Forex pairs – any
TF (TimeFrame) – n/a
Broker – RayBOT work with MT4 broker
Recommended Minimum deposit – $100
10% Discount Coupon code – profitFcom
Refund policy – 60 days money back (through avangate payment processor)
Real (AUD), IC Markets, Technical, 1:500 , MetaTrader 4
Here are the features of the RayBOT expert advisor.
How the Signal Works
The Phibase RayBOT EA was constructed using an advanced trading algorithm that essentially swing trades at or near support and resistance levels. This it does because more often than not, price will reverse to some extent at these areas. Traders do not need to worry about prices making renewed surges at breaking these levels. This is because the Phibase RayBOT EA is built with a highly dynamic trade management module which sets specific profit targets and stop loss areas.
The Ray BOT EA will immediately calculate the ideal position for a stop loss or take profit level and set these on the broker side in order to protect the trades. In other words, the true stop loss and take profit areas are hidden from the servers of the brokers so as to prevent stop hunting from the broker trading desks.
Furthermore, the Phibase RayBOT EA uses a trailing stop loss system from the broker’s side to chase prices when there is greater volatility than normal. Stop loss size is 35 pips on the average. If there is extreme volatility stop loss can be set to a maximum of 200 pips.
Any winning trades are allowed to run to conclusion. Once there is a sign of reversal or the trend starts to lose momentum, the EA closes the trade immediately. This is why any attempts by the price action to start heading towards the key areas of support or resistance after initial rejection should not cause alarm on the trader’s part.
How has the software fared in backtests? Backtests of the RayBOT EA have been conducted over the last 8 years (2007 to 2015) on several currency pairs. The results of the backtests will be explained in detail in this section of the review.
The snapshot below shows the performance of the RayBOT EA on the USDCAD from 2007 to 2015 with a risk factor of 7. This shows that the RayBOT EA made a gain of 518.87% for the period in review. This means that a deposit of $100,000 would have earned $51,887 within the time period.
The growth pattern of the RayBOT EA is shown as the red undulating line on the growth chart. The spike on the growth line on the right side of the chart is consistent with the gain of the US Dollar on the Canadian Dollar due to a fall in crude oil prices. The monthly growth rate stood at 1.74%. Data was compiled using tick data from Dukascopy, and trade results were verified by Myfxbook.
What about the monthly performance of the RayBOT as at February 2016? We see the answers in the snapshot below.
This snapshot shows the performance of the RayBOT EA with the AUDUSD for February 2016. As can be seen, the net gain for the month stands at 8.19%. This means that a deposit of $10,000 would have earned about $819 for the month of February so far.
Also included in this review is a pictorial representation of the portfolio of currency assets traded with the RayBOT software, which showed that out of 5 years of trading, there were 11 losing months and 49 winning months.
The performance of this software is indeed stellar.
The RayBOT EA comes with four payment options which take into account the peculiar financial conditions of the potential clients for this product. Each of these payment pptions confer on the user certain features and usability options for the RayBOT EA. These options are as follows:
There is a lot of benefit to the user. The Phibase RayBOT EA uses conservative methods of risk management to ensure that the account capital is never put in jeopardy, even when there is a transient losing run. Optimization is done monthly, which saves the trader the trouble of constantly downloading updates for the EA. In terms of performance, the EA has shown its reliability over time in backtests. This is a key metric to watch out for as some EAs may only give good performances for a month or two before falling by the wayside.
The Phibase RayBOT EA is recommended for use by forex traders who want good performance at low risk.
Author working to improve “Ray BOT forex EA”. So after buying this robot all updates of the RayBOT ExpertAdvisor will be sending for free.
Please post comment/review about RayBOT, if you have any experience with this forexexpert advisor!
RayBOT price = $99, however you can buy it with Discount. ProfitF offers 15% Discount Coupon code – profitFcom