EA Black Dragon is sold on the MQL 5 marketplace at an asking price of $99. The algorithm comes with multiple configurable settings, including stop loss and take profit and money management. We will review the developer’s portfolio and look at the backtesting records to see if traders can use it on their accounts in 2022.
The robot has the following features:
- It has risk management options
- Traders can adjust the stop loss and take profit
- There is an option to adjust the maximum number of orders
- Trades using the black dragon indicator
How it works
The service will work if you follow the steps below:
- Purchase the system from the MQL 5 website
- Download it on the MT4 platform
- Place it on the charts to start trading
Trading strategies and currency pairs
The developer states that the robot trades using the black dragon indicator and has options to adjust the lot size, the distance between trades, and the number of orders. While looking at the indicator page, we can see that it determines the current trend of the market and does not reprint itself on the candle change. It also provides dynamic levels for possible support and resistance levels.
Unfortunately, the author does not present us with any live records that we could use to determine the game plan of the EA. From the settings, we can observe that there may be some sort of grid and martingale under usage.
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 4047115.84 while trading from 2010 till 2020. The profit factor stood at 2.35 with a variable spread in a net of 5105 trades. The expert advisor analyzed 274388 bars, with history quality standing at 99.9%. The best trade was $91520, while the worst was $57006.24.
EA Black Dragon trading statistics
There are no links to live records present on the website that we could use to analyze the current performance of the robot. We have searched the developer’s portfolio but could not find any information related to the topic.
Pricing and refund
Traders can purchase the service for an asking price of $99 which will provide a license for one live account. It is also possible to rent it for one year at $45. There is no money-back guarantee included.
What else should you know about EA Black Dragon?
Customer reviews on MQL 5 give the EA a total rating of 4.91 for 108 reviews. A trader says that the robot uses grid and martingale strategies that will eventually blow up your trading account. Even with the minimum lot size, it can cause a margin call on a $10000 account. The robot can only work well for a short period, but a huge drawdown comes in.
Another trader states that using the robot has caused a margin call on their account.
An investor questions if the ratings are real for the robot as he is not making any real profit from the robot. He is not sure if he is correctly using the EA and asks for help. However, there is no response from the vendor.