This EA seems to be the same as the Steinitz HAS MTF Hedging EA, but without the hedging fearture. It is sold on his web site for $149 with no refund, and on the "no loss robot" web site with a full Clickbank guarantee.
This seems to be just a new marketing attempt. The "no loss robot' site says nothing about Steinitz and instead has the usual formula sales page, with all the usual hype, paid actors, and inflated promises. But once you buy the robot his name is then connected to it, and if you ask for any customer support your automaticaly directed to Steinitz.
People have been discusing this on the FPA site, with the usual comments on Steinitz and his creation. It seems he loses his cool and gets rude as soon as anyone disagrees with him.
As with the previous HAS MTF EA, it is capable of making enormous profits quickly, and then getting stuck in an enormous drawdown. As long as the upper time frames stay aligned it should be able to pull out simply by holding the trend and absorbing any drawdown, but this requires an enourmous margin and associated risk. When the trends do change the robot does not detect it in time to avoid opening trades in the wrong direction. This is because the robots only indicator is a Heiken Ashi based on a smoothed moving average of price, and it only signals when the indicator changes, often the real price will move through the indicator well before any signal is given, thereby constantly entering late on that time frame, hence the need to have every time frame aligned.
However, I'm fairly certain that if you use this as a trading asistant, and not a set and forget robot, and only use it when you have a strong and confirmed upper trend, and turn it on and off with the intermediate trend swings that it could work quite profitably. This is just based on observations from when I tested the original almost a year ago. I dont own a paid copy and never continued the testing, but this does seem to be the same robot. |