IntroductionToday we are reviewing a newly automated forex robot which is created by Forex trader ‘Josh Hamilton’. He is a 28 years old college dropout guy and he claims the profit of nearly 2000% from his robot- Auto News Trader. Developers of the software told us that strategy used here is ‘News Trading’. EA has the ability to read and react to explosive market movements. When news events happen, the trader can profit from quick moves that lead to 20 pips, 40 pips, 60 pips within seconds and minutes.
Can we trust on Auto News TraderIn the review of Auto News Trader, Firstly I focused on the creators of the trading system. Then I take a look at sales page and analyze how it works. I wanted to know more about the Expert Advisor as how it works, trading strategies used in it, time frame, number of pairs it supports etc. Working method of Expert Advisor is broken down into three steps. Following are the steps for trading economic news events: First: In the first step, traders are required to use Forex Factory Calendar to identify major news events. On Forex Factory Calendar, you can see past and upcoming news related to different trades. You can go to Forex Factory Calendar HERE. Second: Now traders should open their trading charts before trading starts. As the first market move, traders should make an entry in that direction. This process should be quick and precise and there should not be any lagging in the software or platform. Third: Then in the final third step, using trailing stops and cost averaging, traders need to take profit from their finished trade. Above steps are very easy to listen but Josh explains that step 2 and 3 are very difficult to manage because the market moves very quickly and traders do not get enough time to make entry at right time or they are not able to finish the trade at right time to make good profits. Hence this automatic Forex robot is a perfect fit for this type of trading.
BreakdownThe company is offering the Auto New Trader for $197 per year. It is also available for lifetime membership at $397. These packages don’t tell us about anything such as how many accounts the software can be utilized on, and whether there is some sort of limit to demo or live licenses. This information is essential to provide by the developer to the community. The strategy used by Expert Advisor is ‘News Trading’ but Timeframe used here is undisclosed. I think, there should be no reason to hide timeframe. It helps us to make a final judgment. Currency pairs supported by this EA are AUDUSD, EURCAD, EURUSD, GBPUSD, NZDUSD, USDCAD, USDJPY and USDSEK.
ConclusionThere are not so many issues with the Auto News Trader EA but the sales page is not so useful, as it does not give sufficient information to the trader. It needs more transparency. The achievement of Auto News Trader has offered to ascend to numerous fakes who endeavour to offer their own fake robots in its name. This is a major issue the same number of clients have lost their cash in purchasing from such fraud sites. It is prompted that clients ought to be extremely watchful when they are obtaining and ought to do some exploration before they purchase from any site.
Auto News Trader EA today raiting 3 from 5, upon 78 more then 12 votes