GPS Forex is a trading solution that was published in 2012. It’s probably the longest living trading solution that is sold freely on the whole web.
Mark Larsen is the person standing behind this EA. He has a video about how everything works on the sales page. Let’s analyze what we have.
GPS Forex Robot trading strategy
- It works using a price action strategy focusing on trading when the market calms and isn’t affected by high-volume trading.
- It uses a Martingale strategy to recover.
- We can trade on the H1 time frame.
- It works with EUR/GBP, EUR/USD, GBP/USD, and USD/CHF symbols. EURUSD is the only frequently traded symbol.
GPS Forex Robot backtesting report
The system was tested on the EURUSD pair on H1. The data period was from 2007 to 2020. The modeling quality was 90%. An initial deposit was $10,000. The total net profit has amounted to $100,951. The maximum drawdown was 5.68%, when the profit factor was 2.84. The system has executed 995 orders with a win rate of 100% for short and 87.51% for long trading positions.
GPS Forex Robot live results
It’s nice of the developers to provide us with trading results from the account that worked for years. The robot ran a real account on the FX Choice broker with short leverage of 1:200 on MT4. The account had a verified track record. It was created on May 21, 2012, and deposited at $100,000. Since then, the absolute gain has become +566.97%. An average monthly gain was 1.68%. The maximum drawdown was 37.70%.
The system executed 500 deals with 317.5 pips. An average win was 5.00 pips when an average loss was -70.23 pips. The win rate was 93% for longs and 100% for shorts. An average trade length was 5 hours 59 minutes.
The system worked with medium risks to the account balance.
We may note that the system tried to recover using Martingale.
The advisor traded profitably. However, there was no trading activity since September 23, 2021. Why? What is the reason? It looks odd.
Some features of GPS Forex Robot
We have some features and other intel explained.
- The advisor knows how to trade for us automatically on a terminal.
- It works on the MT4 platform.
- We can note that the developers visited various events.
- There’s an investor password to get trading results.
- The last version executes orders faster.
- There are parameters that we can change.
- It calculates Entry Points for us.
- There’s a Trailing Take Profit feature.
- The installation process takes little time.
- It should be used on an ECN account.
- We have to run it on a VPS service.
- The system is featured by Trailing Stop Profit to save gained profits.
|Average monthly gain||1.68%|
|Type||Price Action robot|
|Recommended brokers||FX Choice|
|Currency pairs||Mostly EURUSD|
Main things that make GPS Forex Robot doubtful EA
- Deep drawdowns
It’s a con because the robot requires more margin to keep orders on the market.
- Executes most orders only on EURUSD
Adding some extra pairs to trade will diversify risks of losses on EURUSD.
- Martingale is a risky strategy
The robot consumes much more margin to recover. We can easily reach the Stop Out level.
- The advisor gains little profits
The system requires many win orders to close several losing deals.
The offer includes a single lifetime license for $149. We can expect to get a user manual, access to the member area, change a real account as many times as we want online, and a 60-day refund policy.
The site has some fake testimonials that tell us almost nothing about the system.
The company created a page on Forex Peace Army. The rate is 3.2 based on 110 reviews.
We have many negative testimonials. They are based on the next pros: the system requires a VPS service and ECN account, it makes 2-3 pips on average, a broker should be perfectly fine, and so on.