Forex Fury trading robot has been developed by the same-named traders of the company. Forex Fury is a trading robot that has intended for an automated trading through the MetaTrader 4 trading terminal. The algorithm was founded on the study of a number of indicators. The deals open with a short expiration of time, because the trading robot relates to the category of scalpers.
That explains its confusing reputation. How in the process of scalping is it possible to take into account all market factors by 100% with the risk of error increases?
General information about the Forex Fury trading robot:
- type – an automatic robot;
- type of trading – scalping;
- trading terminal – Metatrader 4;
- availability of technical support – yes;
- forex steam for trading – GBPUSD;
- timeframe – till M5.
Forex Fury review will allow you to evaluate the opportunities, advantages and disadvantages of the trading robot. It is rational to activate it on the GBPUSD currency pair, though you are able to test it on other pairs. The robot can display the trading performance on both the real and the demo account.
The development company assures that the robot opens up to 10-15 transactions per hour, allowing to earn 50-70 pips in a short period of time. The automatic adviser being submitted on the market for 2 years has been able to form an opinion on the effectiveness of the robot.
The main advantages of the robot
- The download file contains a detailed setting manual with a description of the methodology of an operation;
- The convenient and informative setting of an advisor, so you can immediately respond to the market conditions and adjust the robot;
- It can be installed on the ECN type accounts;
Disadvantages of the Forex Fury
- The official version of the robot costs more than $200, which is not affordable for many beginner users;
- The adviser shows a bad trading result if any economic and political events occur (therefore you will have to monitor the economic calendar constantly);
- Users mark the frequent discharges of the robot of the whole deposit;
- The robot trades on scalping, therefore, the spreads must be very low (the robot often simply trades in zero, taking into account the broker’s commission).
To evaluate the results of this automatic robot, you should look at the progress of its trading in continuous mode on a real or demo account.
The screenshot shows the result of an independent testing. The total deposit increase is indicated in more than 200% (for the entire testing period). It was possible to achieve such a result of 76% yield for a month. Nevertheless,the drawdown has reached almost 20%. These results are outdated. An actual evidence shows that a drawdown in the absence of reaction from the trader is able to reset the deposit completely. These test results are not plausible and reliable.
Note that the robot is trading on scalping. This means that trades are opening for a short expiration time in a period from 30 seconds to 2 minutes. To achieve performance you need to comply with a number of requirements.
At first, it is necessary to exclude trading during the release of economic or political news regarding the selected currency pair. Open the economic calendar and try to deactivate the robot at that moment when an important event comes out concerning the selected currency pair (currency).
To achieve an optimal result, you need to make a deposit for the minimum amount of $100-$200. If you set the leverage till 1: 200-1: 500, you can achieve a good acceleration of the deposit, but at higher risks. As soon as you install the trading robot in the terminal, you will be prompted to select / optimize the settings. They include an item on Stop Loss, Take Profit levels, on Setting up indicators and a number of other parameters. You must consider market conditions to set up the Forex Fury robotproperly.
The robot has been tested on both USDJPY and USDCHF currency pairs. According to the latest drawdown more than 50%, it forced traders to stop testing and switch to another currency pair.
The methodology of a trading bot lies in opening deals in the afternoon when the market loses its volatility. Trading on scalping manually is difficult during this period, but Forex Fury comes to the rescue. Always pay attention to the levels of spreads that your broker exposes. The spreads should be low, otherwise, the broker commission eliminates all profits, and the robot will simply slide to the negative.
Forex Fury Reviews
The number of feedbacks on the adviser Fury is neutral. There is a lot of negativity. You can verify it by visiting various specialized portals, forums or even at the official website of the robot. In the reviews you’ll read about the exaggerated test results. In fact, the 30-35% of transactions come to loss. Therefore, for the profit, you need to take into account the spreads and always monitor the operation of the robot. Fury is not a crook. However, in trading you need to be careful as he will not bring profits you expect.
Frequently asked Questions
- Which brokers connected to the terminal for trading with the Forex Fury trading robot? You can use any brokers who provide access to trading through the Metatrader 4 trading terminal.
- What is the number of transactions carried out by a robot per day? On average, you can count on 10-12 trades for several active trading hours.
- Will the robot be blocking during operation? The robot does not require updates or other paid procedures that could lead to its blocking.
- How to install an advisor Fury? It is enough to copy the downloaded files to the main folder of the MT4 trading terminal (detailed instructions will be available in the archive)