Athena EA Review

Athena EA is a fully automated system that trades using a grid trading strategy. The robot aims for a monthly gain of 13% to 20% per month and trades on EURUSD only. It only works on the MT 4 platform. Go through our article to get more information on the algorithm's pros and cons, and make your mind on the purchase.

Trading strategy explanation 

The developer states that the algorithm uses price swing and price action for analyzing the charts. For determining the profit target, it implements oscillators and moving averages. The robot trades using averaging techniques.

From Myfxbook records, we can observe that the robot day trades the market with an average holding duration of 5 hours and 18 minutes. There is no fixed stop loss, but the TP can vary between 1-30 pips.

How Athena EA works

The Athena EA works in the following steps:

1. Open an account on the designated broker and provide your credentials to get verified 

2. At least an amount of $500 should be pooled to any USD labelled account

3. Join Athena EA PAMM via credentials of your pro eight live account 

Traders can also use it with a rental service where the developers set up the algorithm on a private VPS. It is recommended to have an account value of more than €4000 for this purpose.

Features

Following are the characteristics of Athena EA

• The EA assures consistent return.

• The withdrawal and deposit options are available 24/7. 

• It's a beginner-friendly EA.

• The algorithm comes with verified live records.

• Available with two options: rental and managed. 

• The robot operates with risk management. 

Backtest data analysis

The robot does not come with any backtesting records, which could give us some historical performance hints. This approach is not good in the trading market as it leaves the investors with many doubts about their credibility.

The developer states that the backtesting can not be done because two separate ex4 files are required to run simultaneously.

Athena EA live trading data analysis

The Athena EA started trading in January 2021 and is currently active. It is noted that the algorithm had 21,293 trades having a profitability of 72% and a loss ratio of 28%. So far, the total profit was €17,122.96 with a profit factor of 1.65. It had a drawdown of 33.73%, with a daily gain of 0.24%. The average win and loss rate was €2.86 and -€4.38, respectively.

Pricing 

There are different packages available for the product like Rental, Lifetime, and rental sponsored. All the options come with a VPS and customer support. The lifetime package is for €999 (one-time payment) and comes with access to all settings and a personal copy of the EA. The rental package is for €799 with yearly access subject to renewal. Rental Sponsored comes with no capital limit and will cost you €499. The PAMM service does not have any fees as it is subjected to profit-sharing varying between 25-35%.

Review summary

The company has a rating of 4.499 on the Forex Peace Army platform with 86 reviews for its products. There is no feedback available for Athena EA. A trader seemed disappointed by the outcome of one of their other products. He comments that the information he received from the product seller was quite misleading and made him lose 50% of his assets. 

Pros

The EA has the following advantage 

• 24/7 customer support provided 

Cons 

Down below are the disadvantages of the EA:

• No backtesting records are available 

• No reviews are present on a platform like Trust pilot and Forex Peace Army

• Price is relatively high when compared with other bots

The EA is ambiguous as there are no backtesting results available. We didn't find any reviews about the algorithm on the leading review platforms like Trustpilot and Forex Peace Army. The author is not transparent in his portfolio and has provided misleading information as per customers' statements.

Rating: 6/10