Silent Master Review

Sep 6, 2021 06:52 AM ET
Silent Master Review

Silent Master is an EA created to work on the MT5 platform. The developer of this bot promises to help traders profit from Forex. He published it on the mql5 marketplace on July 21, 2021, and so far, it has been activated 5 times. 

Evgeniy Machok is the brains behind Silent Master. He is based in Russia and has developed many other products including Fire Signal EA, Yellow Free, and SZ Scalper Free etc. This profile is scanty as no other info is revealed about the vendor. Subsequently, there is no way of knowing his designation, qualifications and experiences in Forex. This greatly disadvantages traders as it is impossible to ascertain if this person is a professional or even if he can be trusted. 

Silent Master

Type

Fully automated EA

Price

$99

Strategy

Grid

Compatible platforms

MT5

Currency pairs

EURUSD

Timeframe

M5

Recommended min. deposit

$100

Recommended deposit

N/A

Leverage

N/A

Trading strategy explanation

Being an expert advisor, Silent Master trades automatically for the trader using inbuilt algorithms. As such, it knows when to enter and exit a trade. In addition to having the above features, the developer also reveals other important information about the EA: 

  • The system prefers working with any broker with small spreads and fast order execution

  • It also has a “set and forget” component which doesn’t require the participation of the user

  • Martingale, grid and arbitrage approaches are supposedly not present

Evgeniy tells us that the EA particularly trades at night when the market volatility is low. Elements of machine learning have also been incorporated to enable the system to take into account the present situation of the market. 

We also noted that the grid strategy is included after we analyzed the trading history. This discovery shocked us considering that the developer has reiterated that no grid is used. It is unprofessional for the developer to mislead traders since they rely on his words to make their purchasing decisions. 

It should be noted that the grid strategy is far from being effective. We all know that it carries high levels of risks and, therefore, it cannot help a trader to grow their account. 

Backtest data analysis

Backtest report for the EURUSD pair.

We see here that the vendor backtested his EA using the EURUSD symbol from 2018 to 2021. To initiate the process, a deposit of $100 was placed. Using its inbuilt strategy, the robot managed to make a total net profit of $63,499.11. It had a profit factor of 6.32. However, the relative drawdown (23.86%) was big and brought to light the high-risk nature of the approach applied. 

This period recorded 865 total trades. The winning rates for short trades were 91.25% and 94.53% for long trades. The average loss trade of -$238.56 surpassed the average profit trade of $92.55 by 146 pips. Clearly, the method used to trade wasn’t effective. 

Live trading data analysis

Trading Results

Myfxbook Account

Real (USD), IC Markets

Started

July 5, 2020

Deposit

$350

Balance

$370.62

Gain

21.24%

Daily

0.05%

Monthly

1.37%

Drawdown

37.76%

Profitability

$95.07

The robot’s trading results.

The account began its operations on July 5, 2020 after being deposited at $350. The EA has made a profit of $95.07. This is akin to a gain of 21.24%. Consequently, the balance has also increased slightly to reach $370.62.

The daily and monthly profits of 0.05% and 1.37% respectively are very low. The drawdown is dangerously high. With the little profits, there is no hope of ever recovering the losses made.

The trading performance of the EA.

The number of trades conducted is 272. The lots traded are 69,36. They thus expose the account to unnecessary risks. The profit factor of 1.10 lays bare the low profitability rate of the system. The winning rate for short positions (100%) is exceptional. However, the same cannot be said for long positions (77%). 

The pips are 288. The average loss which is -3.44 pips is a bit higher than the average win (2.33 pips). This trend poses substantial risks to the investment. 

Number of trades done from Monday to Friday.

The EA executed a majority of trades on Wednesday as it closed 62 deals. 

The account’s risk of ruin.

The account can crash any time. If it makes 24 consecutive losses, it will be ruined 

Monthly performance from January 2021 to August 2021.

Only three months have been profitable, i.e., January, April and June. The other months recorded alarming losses. It’s too early to say something about September.

The trading history of the EA.

The grid strategy is on board. The robot traded with large and not fixed lot sizes. The gains made were minute and not enough to recover the losses incurred. 

Customer reviews

Only one customer has provided their opinion about the bot on mql5. This feedback is insufficient. More reviews are needed for us to know if clients are getting value for their money.

Review summary

Pros

  • Verified live trading results have been supplied

  • Backtest report is available

Cons

  • Vendor transparency is absent

  • High drawdown

  • The grid strategy is present

  • High losing streak

Silent Master’s performance is disappointing. You cannot gain much by using this EA. The grid strategy being utilized is generating minute profits and ending up with losing positions. No wonder the drawdown is high. It would take a miracle to salvage the account as it is likely to blow up soon. To that end, it is advisable to avoid this system.

Rating: 4/10


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