R0B0.1 Review

Apr 2, 2021 05:31 PM ET
R0B0.1 Review

R0B0.1 is a Forex EA that aims to be the best automated Forex trading software in the market. It portrays itself as a functional system that is accessible to all. This Forex robot eliminates emotions from trading, thus taking more prudent decisions compared to a human trader. 

On the official website, we can find a video detailing the backtest conducted on this Forex EA. Then we have the pricing details, a brief overview of what the robot is about, and a list of features. To us, the presentation seems too brief, and the vendor does not promise anything unique or special with this system.

R0B0.1

Type

Fully-automated EA

Price

$147

Strategy

N/A

Compatible platforms

MT4 

Currency Pairs

N/A

Timeframe

N/A

Recommended Min. Deposit

N/A

Recommended Deposit

$250

Leverage

N/A

Trading Strategy Explanation

R0B0.1 is an automated Forex trading software created by a group of experts that automates every aspect of the trading process and eliminates human emotions. It is said to be a highly advanced and optimized trading system that monitors the markets for favorable trading opportunities and uses 10 different indicators. 

While human traders cannot monitor the prices of multiple currency pairs simultaneously, R0B0.1 functions at an incredible speed to scan various markets and monitor all pairs in an intelligent manner. The vendor claims that this results in your profits rising and your losses dwindling. 

You can use R0B0.1 to trade in 28 different currency pairs. As per vendor recommendations, you should start with an initial deposit of $250. This Forex EA works on the MT4 platform with an accuracy of 90%. It trades on a 24/7 basis, so you don’t have to worry about missing out on lucrative trading opportunities.

The vendor has not provided us with a clear explanation of the trading strategy, which is quite disappointing. We know that the robot uses 10 indicators, but we have no idea what these are. Also, there is no way to find out how the system identifies profitable trading occasions. Seasoned Forex traders who look for the technical details of a trading strategy might take this as a red flag.

Backtest Data Analysis

R0B0.1 Backtest Data Analysis

This backtest for R0B0.1 was conducted on the USD/JPY pair from 17th September 2020 to 31st December 2020. We think this too short a time period for a backtest when most Forex EAs are based on backtesting data worth 5-10 years. The modeling quality for this backtest is 27.34% which is astonishingly low since most backtests are carried out with a modeling quality of above 90%.

An initial deposit of $1000 was made for this test, and the robot generated a total profit of $2339.05 after placing 21 trades. We can see that 20 out of 21 trades were won by R0B0.1, which represents a win rate of 95.24%. There were 13 consecutive wins and only 1 consecutive loss.

Although the backtesting results look profitable with a low relative drawdown of 3.12% and a high profit factor of 55.83, we cannot assign too much importance to it, since it is based on 21 trades only. In order to effectively gauge the system's profitability, we need a larger sample size.

Live Trading Data Analysis

Given the large number of scam services present in the market, Forex traders do not consider investing in a system that does not share live trading results. Since we don’t have the live trading results for R0B0.1, there is no way we can determine if the system would perform well in the live market. 

It is unwise to invest in a system solely based on backtesting data, especially when it has been conducted on a small sample size and with a low modeling quality.

Customer Reviews

We were unable to find any customer reviews for R0B0.1 on any popular review website. In the absence of reviews, we cannot determine how the customer service responds to user queries and other important details about the robot. Clearly, R0B0.1 has a long way to go before it earns the trust of Forex traders.

Review Summary

Pros

  • Backtesting data provided

  • 10 indicators used 

Cons

  • No live trading results

  • Backtesting data based on a small sample size

  • No customer reviews

Conclusion

R0B0.1 is not a Forex EA we can recommend, since there is hardly any proof of the system being profitable in the live market. You are better off looking for a robot that shares its live trading outcomes and is based on high-quality backtesting data.

Rating: 3.6/10


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