This new Forex robot review is about FXRiseUp EA. Designed to work on the MetaTrader 4 and 5 platforms, this robot uses the SAR (Stop and Reverse) indicator to identify trends and open and close trades accordingly. In this review, we'll examine the inner workings of the FXRiseUp EA, including its trading strategy, performance metrics, and customization options. By the end of this review, you'll better understand whether this robot is a good fit for your trading needs.
Live performance of FXRiseUP
The FXRiseUp EA performance can be analyzed based on its live trading account statistics available on Myfxbook, which started in January 2022 and has been trading for 15 months. During this period, the robot generated an impressive profit of 216.65% starting from an initial deposit of $9,000.
A closer look at the trading graph reveals that the FXRiseUp EA was able to execute trades without significant fixed drawdown or prolonged downward movements. As a result, the live account curves have shown consistent upward trends, with almost straight lines indicating steady growth over time. The FXRiseUp Forex robot's ability to deliver a profitable trading experience over an extended period is a testament to its trading strategy and risk management system. The EA's performance showcases a balanced approach to trading that seeks to minimize losses while maximizing profits.
One of the factors contributing to the success of any Forex robot is backtesting, which assesses the system's potential trading results on historical quotes. The backtest for the FXRiseUp EA was conducted on the 1H timeframe using the every tick testing model, which is widely regarded as the most accurate method of backtesting based on all available least timeframes. This approach involves testing the system's performance by simulating trades based on each individual tick, thereby providing a comprehensive assessment of its efficacy.
The backtest's modeling quality is 90%, which is more than adequate for the FXRiseUp EA, given that it does not use a scalping strategy. This level of modeling quality underscores the reliability of the system's performance and its ability to generate profits for traders. The backtest was conducted over a period of 8 years, from 2015 to 2023, using historical quotes, providing enough data for a proper assessment of the system's performance. This extended period of testing enabled the system to adapt to various market conditions, providing a more accurate representation of its potential profitability.
*The backtests are taken from the developers’ website
*The subsequent analysis of the adviser is based on live analytics from the Myfxbook website. We’ll go through the pluses and minuses of the trading system as well as the profit and drawdown analysis.
Profitability and drawdown
Live trading of FXRiseUp EA commenced on the 2nd of January 2022, with an initial deposit of $1000 on the trading account. Subsequently, in June 2022, $8000 more was added to the account, thereby increasing the trading capital. FXRiseUp EA is an automated Forex trading system that trades using the EURUSD currency pair on a real live trading account.
Since the beginning of trading, the system has managed to grow the Myfxbook account by 110.90%, which is an impressive result for the Forex robot. The maximum monthly compound level of return achieved by the system stands at 8.05%, while the maximum floating drawdown level is at 17.98%. These results are indicative of the system's potential to generate substantial profits in the Forex market. Considering the system's high profitability and impressive performance, it is poised to become one of the most profitable Forex robots in the ForexStore.
Based on the figures recorded on real live accounts of the FXRiseUp EA, we are able to draw some assumptions about the potential future outcomes of utilizing this particular trading robot. Over the course of 15 months, the cumulative gain of this EA has reached an impressive 216%. In conjunction with this, the maximum fixed drawdown level has been recorded at 18%. These results indicate that the average profit to drawdown ratio level is almost 0.5:1 or 2:1 when flipped the other way around. While there may be trading robots on ForexStore that have achieved even higher levels of success, the results of FXRiseUp EA are nothing to scoff at. It is important to note that these results have been achieved through the usage of real live accounts, as opposed to simulations or backtesting.
With a cumulative gain of 216% and a maximum fixed drawdown of 18%, it is clear that FXRiseUp EA has been able to perform consistently and effectively over a prolonged period of time. These results should be taken as an indication of the EA's potential for future profitability, although it should be noted that past performance is not always indicative of future results. Overall, while these results are not the highest recorded for a trading robot on ForexStore, they are certainly impressive and indicate that FXRiseUp EA is a viable option for traders looking to maximize their profits while minimizing their risks.
FXRiseUp EA is an automated trading system that has been specifically designed for MetaTrader 4 and MetaTrader 5, two of the most widely used trading terminals. It provides real-time trading statistics from third-party company Myfxbook, ensuring that traders can track and monitor their trades with ease. The system is based on the principles of supply and demand and is primarily focused on trading the EURUSD currency pair.
The FXRiseUp EA utilizes a sophisticated trading logic that aims to buy at zones with bullish pressure and sell at zones with bearish pressure. This approach ensures that the system is constantly seeking out the best trading opportunities in the market. The main idea of the FXRiseUp EA is its advanced entry and trade management engines. These engines allow the system to scale into positions and get the best average entry price on each trade setup, giving it a significant edge over other EAs in the market.
The main features of FXRiseUp EA are represented on the developers' website and explain general trading rules for the robot. We will mention the main of them further:
- One of the standout features of the system is its self-adapting grid control, which enables the EA to adjust its trade engine to the current market conditions. The system can increase or decrease the distance between each additional order, ensuring that it can adapt to changing market conditions quickly.
- Another feature that sets the FXRiseUp EA apart is its advanced supply and demand tracker. The system places a pending buy limit order at a key support/demand area, anticipating that there will be strong interest from institutional market participants to buy large positions. Conversely, when a key supply/resistance area has been identified, the EA will place a pending sell limit order at this price zone, knowing that the bearish pressure will dominate the buyers at the zone, resulting in a declining exchange rate into the near future from this point on.
- FXRiseUp EA also utilizes a money management system called "cost averaging" to scale into positions, which has the advantage of getting the optimal average entry price and always closing a trade setup in profit. However, this system also has the disadvantage of potentially draining the entire account if the trade goes against us, and for this reason, it is essential to use the system with caution and an appropriate account balance.
- It is important to note that the FXRiseUp EA does not have stop-loss protection. Instead, it keeps adding more positions to get a better average entry price on each trade setup, making the EA extremely profitable. However, this also means that it requires a large account balance to trade safely with the default settings. The recommended minimum account balance is $3000, but the EA can also be used on a cent account with as little as a $30 starting balance.
Upon analyzing the live performance graphs of the FXRiseUp EA, it is evident that the system utilizes a grid Martingale trading strategy. This trading approach involves multiplying the lot size for the next trade after a losing trade for the specific currency pair. This process is repeated up to 10 times in the live trading of FXRiseUp EA, with the aim of recovering from the previous losing trades.
Interestingly, the system does not use lot-size multiplication for the grids of winning trades. This indicates that the Martingale pattern is used solely for the recovery process after a losing trade. By refraining from multiplying the lot size for winning trades, the system reduces the potential risk of incurring larger losses in the event of a prolonged losing streak.
As depicted in the following screenshot, the initial lot size for the EURUSD currency pair is 0.13. However, the pips taken in each trade vary, depending on the market conditions at the time of execution. This approach ensures that the system is adaptable to the ever-changing market conditions and can execute trades efficiently.
Also, it is evident that the FXRiseUp EA utilizes a compound interest approach in the calculation of its initial lot size. It is clearly seen in the following screenshot. The system's initial lot size grew from 0.01 at the beginning of the live trading to 0.13 at the time of writing this review. This approach allows for the gradual growth of the lot size, ensuring that the system can handle larger trades as it gains more experience and knowledge of the market.
Since its inception 15 months ago, the FXRiseUp EA has made an impressive 964 trades, a testament to its durability and reliability. This translates to an average of approximately 64 trades per month or more than two trades per day, highlighting the EA's active trading nature. Also, the system's performance is also commendable, with a win-loss ratio of 58% to 42%. This means that the FXRiseUp EA makes slightly more winning trades than losing ones, indicating its proficiency in generating profits for traders who utilize it.
The FXRiseUp EA's trades typically remain open on the market for a duration ranging from 3 minutes to 1 day, reflecting the system's agility in adapting to changing market conditions. However, the approximate average duration of trades is from 7-10 minutes to 11 hours, indicating the system's proficiency in capturing opportunities within short to medium timeframes.
Interestingly, this duration range is where the FXRiseUp EA tends to make the most profitable trades. As demonstrated by the graphs in the following screenshot, most of the trades that remain open in the market for more extended periods eventually become losing ones. This underscores the importance of the FXRiseUp EA's active trading nature, which enables it to quickly capitalize on market movements and exit positions before they turn against the system.
The ability of the FXRiseUp EA to optimize its trade durations according to market conditions enhances its potential to generate profits for traders. By analyzing market trends and acting swiftly, the system maximizes its chances of closing trades at optimal levels, thus minimizing losses and maximizing profits.
In conclusion, the FXRiseUp EA is a Forex robot that has shown impressive results over a period of 15 months on a real live trading account, generating a profit of 216.65% starting from an initial deposit of $9,000. The robot's performance showcases a balanced approach to trading that minimizes losses while maximizing profits. Backtesting for the system was conducted on the 1H timeframe using the every tick testing model, and the modeling quality is 90%, underscoring the reliability of the system's performance. The FXRiseUp EA trades using the EURUSD currency pair on MetaTrader 4 and MetaTrader 5, and utilizes a sophisticated trading logic that buys at bullish pressure zones and sells at bearish pressure zones. Overall, the FXRiseUp EA is a viable option for traders looking to maximize their profits while minimizing their risks.
The developer have added the following information to the description of his robot:
"FXRiseUP is quite demanding on margin. Therefore, we advise you to use the leverage of 1.500. The minimum required deposit for a conservative trading is $3,500, for a normal trading it is $1,600. Lower leverage can be used on condition of trading with a reduced risk. For example, with a leverage of 1.100, you should use no more than 35% risk trading conservatively, and no more than 15% risk trading normally."
This means that this robot has quite high leverage requirements, which may not be suitable for some brokers. For example, most likely this robot will not work for many clients from the USA, or will require from a client to trade with very conservative settings.
As previously stated, the FXRiseUp EA satisfies all the necessary criteria and possesses all the essential characteristics of a top-notch Forex robot. Despite this, the cost of the robot remains reasonable. Therefore, the FXRiseUp EA has been awarded a maximum rating of 5 out of 5 stars in this regard.
The EA has achieved average profit-to-drawdown ratios of 0.5:1. While this result is commendable and would meet the expectations of most traders, it does not measure up to the highest levels attained by other Forex robots that are considered to be the best. Hence, the EA is awarded a rating of 4 out of a possible maximum.
The system has obtained all the necessary statistics and backtests, providing additional confidence in its trading capabilities. With 15 months of actual trading data and a maximum of 8 years of backtesting, the robot has exceeded the minimum requirement, meriting a 5 out of 5-star rating in these two aspects.
Regarding my opinion of this trading system, I hold a favorable and optimistic view. The FXRiseUp EA has demonstrated its strength as a successful contender in the market, offering a diverse range of trading strategies while maintaining a strong focus on security and resilience. I have awarded the system a rating of 4.5 out of 5 stars. However, it should be noted that the system utilizes the Martingale strategy as its primary winning algorithm, which in certain situations may pose a risk. Nonetheless, the system has proven its ability to manage this strategy effectively.
At the moment of writing the review, the automated rating system of the ForexStore rated FXRiseUp EA with 9 points out of 10 which is in my opinion is a well-deserved mark. This Forex robot deserves the mark because the system is profitable and reliable at the same time. I hope this helps you, traders! I wish you profitable trading and luck on the market!