Elemental EA Review

Jan 13, 2022 08:16 PM ET
Elemental EA Review

Elemental EA is a multicurrency trading robot that comes with a minimum number of parameters, which makes it accessible even to novice users. It does not work with the grid, arbitrage, or martingale strategies. The expert advisor protects each position by stop loss and DD parameters and requires a minimum deposit of $100 to start trading. 

This robot was authored by a Russian developer named Evgeniy Machok. He has more than 8 years of experience in this market and has created 15 trading systems in total. In addition to Elemental EA, Machok is also selling Silent Master, Yellow Free, SZ Scalper, South Night, Point61 indicator, etc., on mql5. The systems have a combined rating of 5 stars based on 150 reviews. 

Vendor’s profile.

Elemental EA

Type

Fully-automated EA

Price

$299, $199

Strategy

Trend

Compatible platforms

MT4, MT5

Currency pairs

EURUSD, USDCHF, USDJPY, USDCAD, AUDUSD, EURJPY, EURCAD, CHFJPY

Timeframe

M5

Recommended min. deposit

$100

Recommended deposit

N/A

Leverage

N/A

Trading strategy explanation

Elemental EA mainly trades at night and uses the trend strategy. This approach is based on the idea that price always attains an equilibrium since any trend has its current boundaries. Dynamic levels of support and resistance, which are updated at each candlestick, usually determine these boundaries. The EA also conducts trades using “limit” orders for extra protection from slippage. 

Backtest data analysis

Backtest results.

For this backtest, the robot traded simultaneously on 5 currency pairs using default parameters. It used a deposit of $100 to carry out 3997 trades. The end result was a profit of $1523230.44 after 81.59% of the orders were successful. A relative drawdown of 22.49% was generated, a clear sign that middle-risk trading was applied. More losses were also recorded compared to wins, as illustrated by an average profit trade of $759.32 against an average loss trade of -$1294.70. The profit factor was 2.60. 

Live trading data analysis

The vendor has posted the live trading stats of the bot, but they are not from a verified site like Myfxbook or FXBlue.

Trading Results

Myfxbook Account

N/A

Started

October 18, 2021

Deposit

$100

Balance

$131.95

Gain

31.95%

Daily

N/A

Monthly

10.26%

Drawdown

13.3%

Profitability

$31.95

Live trading results.

This live account was opened on October 18, 2021, and deposited at $100. So far, the EA has traded for 52 days. A small profit of $31.95 has been realized after 86.2% of the orders recorded profits. The maximum drawdown is 13.3%. This means that the EA has been trading safely to date. 

Trading performance.

There are 116 executed trades with poor win rates for long trades (21.55%). Fortunately, the short trades have reported higher success rates — 78.45%. In a month, the robot makes a profit of 10.26%. The average profit is $0.44, while the average loss is -$0.74.  

User reviews

Elemental EA has received positive reviews from traders on mql5. The clients state that the system is profitable, has a high profit factor, and the author offers support when needed, among other things. Though one of the testimonials is written in Russian, we figured that the trader confirms that the robot works and it was able to return the money he spent on buying it.  

User reviews.

Review summary

Pros

  • Backtest data is available

  • Supports multiple currency pairs

Cons

  • Unverified trading results are present

  • The system is costly

  • Short trading history

  • Money-back guarantee is not included

You can trade many currency pairs with the EA, and with just a $100 funding in your account, it can begin working for you. The live trading stats provided are not only unverified but also illustrate a short trading period. So, the robot needs to be monitored longer to establish if it is productive or not. 

Rating: 5/10


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