Gen X Review
We’ve prepared a review of the Gen X robot. The software was introduced to the MQL5 community on August 20, 2020, by Aliia Aleshkina. The last version of the EA is 1.6 after updating on December 7, 2020.
Trading Strategy Explanation
We’ve systemized all features and strategy explanations in the list:
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The robot trades, using an autoregressive model with a K-Arima algorithm adding the integration of k coefficients.
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It trades in a self-built price channel.
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It works on the Metatrader 4 platform only.
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The EA trades fully-automatically.
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We can trade EUR/USD, GBP/USD, and AUD/USD.
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The robot uses Martingale for recovering and increasing gains.
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It can identify breakout patterns and trade them.
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It works with the next parameters: StopLoss = 600, TakeProfit = 600, AutoLot = true, Lot = 0.01, Risk = 1, Slippage = 60, Magic = 100500.
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Gen X works on the M30 time frame.
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Different pairs should have different Magic.
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The EA can work only with 5-digit brokers.
Backtest Data Analysis
We have a single backtest - AUD/USD on the M30 time frame. The modeling quality was 90% with a 15-pip spread. An initial deposit was $10000. The total net profit became $349M. The Profit Factor was 14.53. The robot closed 1532 deals with 95% of the win-rate for Shorts and 87% of the win-rate for Longs.
Live Trading Data Analysis
The robot runs a real USD account on Hugo’s Way automatically with 1:500 leverage on the Metatrader 4 platform. The account has a verified track record but doesn’t have a proper level of transparency because deposits, balance, etc., are hidden. The account was created on September 17, 2020. Since then, the absolute gain has become +42.45%. This profile is tracked by fourteen traders.
For the last several weeks, Gen X has been trading with huge and consistent drawdowns.
The EA closed only 42 deals with 307.1 pips. An average win is 46.85 pips when an average loss is -60.73 pips. The win-rate is 60% for Longs and 66% for Shorts. An average trade length is one day. The Profit Factor is 1.29.
EUR/USD is the only symbol that makes profits (412 pips).
The robot tries trading during the European trading session.
Tuesday and Wednesday are the most-traded days.
The EA runs the account with insane risk to the account balance.
As we can see, increasing lot sizes from 0.01 to 0.06 helps not so much.
The company
The developer has only this robot in the portfolio. She has a low rate (1426) and 211 friends.
The robot can’t make consistent profits and doesn’t work properly quite often.
The developer is always quick to answer questions and keeps providing free updates.
Pricing
Gen X costs $99 for a copy. We can rent it out for $60 monthly. There’s a free demo download to check the robot’s parameters. The site doesn’t support money-back-guarantee.
Review Summary
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Conclusion
Gen X is a robot that likes using Martingale to increase profits as well as losses. It seems that GEN X trades randomly. Anyway, the last three weeks were a period of consistent and huge losses. The developer provided the last update on December 7, 2020. After it, the EA was broken and started trading with huge drawdowns and significant losses.
Rating: 3/10