The champion trading robot trades on multiple currency pairs and requires a hedging account to execute its functions properly. The algorithm is claimed to work with FIFO and FTMO conditions maintaining a drawdown below 10%. We will cover the live records to see if the statements are true and whether it is a good decision to purchase the robot or not.
The robot has the following features:
- It works on a hedging account.
- Traders can use it with an initial deposit of $100.
- There is an inbuilt news filter.
- The algorithm supports multiple currencies.
How it works
The service will work if you follow the steps below:
- Purchase the system from the MQL 5 website and download it on the MT5 platform
- Place it on the charts to start trading
Trading strategies and currency pairs
The developer states that the robot trades on AUDCAD, NZDCAD, EURCAD, GBPCAD, and AUDNZD using an intelligent trading system with optimal exits and entry points. The advisor places executions when the respective candle closes and analyzes the dynamic deviation in the flow of quotes. From the history present on the MQL 5 live records, we can see the use of grid and martingale strategies. The robot holds trades for an average of 3 days, conforming to a swing approach.
The developer shares the backtesting records with a cutoff image. With the initial deposit of 1000, the expert advisor returned a total net profit of 68632681.47. The profit factor stood at 1.69 with a recovery of 4.41. There was a net of 13685 trades with 27370 deals. The expert advisor analyzed 79338 bars, with history quality standing at 98%. We do not have any detailed performance statistics and detailed statements as of now.
Champion trading statistics
Verified trading records on MQL 5 are available, showing performance from October 01, 2021, till the current date. The system made an average monthly gain of around 17%, with a drawdown of 21.1%. The stated drawdown is high, saying that while trading, the system loses nearly a quarter of the money.
The winning rate stood at 77.8%, with a profit factor of 2.06. The best trade was $701.19, while the worst was -$192.19 in a total of 194 trades. The developer made $3768 in deposits and made a total gain of 57%.
With a sharpe ratio of 0.07, the total maximum deposit load of the account is currently at $25.32%. The system is fully automated with 100% Algo trading.
Pricing and refund
Traders can purchase the service for an asking price of $1250 which will provide a license for one live account. There is no money-back guarantee, and there are no renting options for the robot. The asking price is quite high for an algorithm that uses grid and martingale to contrast it with the market standards.
What else should you know about Champion?
Customer reviews on MQL 5 give the EA a total rating of 5 for 10 feedbacks. A trader says that he has purchased the robot and is testing it on a demo account. It has been active for a few days. The investor states that they will provide the feedback later in two months.