FXRapidEA Quattro

Live statistics of FXRapidEA start in December 2019 with the initial deposit of $2000 and we see that it has collected 1039% of gain since then which is very impressive results that prove developer's statements about the rapid nature of trading of this EA. Here we see the average monthly growth of FXRapidEA which is 47.16% per month that also looks really high.

At the beginning of the curve, we see the smooth upward move almost without the drawdowns and losses but things began going a bit worse in April 2020. At this point in the review let's look closely at the drawdown level of FXRapidEA.

The numbers taken from the statistics say that the average drawdown level of this Forex robot is 40.74% which feels high for me. But if analyzing the statistics, we can see that this number is actually the peak drawdown value ever reached by this EA (look at the screenshot below).

We can observe the three highest peak drawdown points in the history of the trading, which took place in December 2019 (33.06%), April 2020 (40.74%), and June 2020 (31.59%). But the approximate average drawdown level of the EA is actually lower.

Taking into account the fact that FXRapidEA has quite a high gain level it is worth saying that the drawdown level of 40.74% should not scare us at all since the profitability/drawdown ratio, in this case, is quite impressive. It is actually around 1:1 which should be considered as a highly profitable trading system.

The drawdown level itself could look really high for some traders but it is important to look at this in the correlation between profitability and drawdown. In this case, we see that the 1:1 ratio is very good and even if we would have lowered the risk by half, we still should have gotten around a 20% drawdown level together with around 500% total gain level which looks like a pretty high ratio including only 7 months period of work.

UPD:

The FXRapidEA developer obviously replaced the old accounts of both versions of the robot with the new ones. This change, as the developer described, was forced by the fact that the system has faced some problems during trading on the NZDUSD currency pair which lead to the 100% loss on the account.

As the developer described answering the user’s comments on the Myfxbook (look at the following screenshot), the system was set with 100% risk which made it possible to reach the total crush of the accounts. Anyways, the developer replaced the old statistics with another one that has 14 (for DUE version) and 7 (for QUATTRO version) months-long live trading statistics and look very good having the straight upward movement on the graphs.

Now, the live accounts of both versions of the FXRapidEA robot do not have the statistics of NZDUSD currency pair trading. But because there was a patch released to make it safer trading on this currency pair there could be a future statistic on it. Still, it is better to refrain from trading on this currency pair for now. That’s why I recommend not trade with any version of the FXRapidEA on the NZDUSD currency pair until we see new live trading result from the developer. The developer also does not recommend trading with FXRapidEA using 100% risk to be safe from the total loss on your trading accounts which is the obvious rule to trading.

Analyzing the trading charts of FXRapidEA it is hard to say what exactly is the trading strategy of the system. The developer says that the robot trades only by the trend and never against it. That's why it programmed to close the trades even in the loss if they are not following the trend.

As we can see from the graph below the average duration of the open position in the market for FXRapidEA in 80% of the cases would not be longer than 2 days. That is the point where we really see the rapidness of the system. And still, not even holding trades long, the profitability of the system is quite high.

The system makes something around 42 trades per month which means that it doesn't have a day without trading. It probably uses some kind of modified grid patterns but at the same time, it is not true to say that FXRapidEA is a grid system since it closes positions according to its own special algorithm and does not consistently build the grids to close them by take-profit. Also, the system does not raise the lot size constantly. Sometimes lot sizes vice versa decrease during the building of some-kind-of-grid patterns which is totally not consistent with a martingale grid strategy (look on the chart below).

Statistically, the FXRapidEA is a highly profitable Forex robot, that shows a high level of both gain and drawdown which in the ratio looks reasonable and logical. At the same time, we have to admit that the EA has got not only upward moves of the trading statistics. On the Myfxbook account, we see that the system encountered some falls and losses during its trading which is also should be connected to the trading logic of the system, especially to the fact that it closes the trades that are considered to be not following the trend. But all the losses yet again have been recovered according to the strategy logic except once. On May 19, 2020, the EA has encountered a stop-loss on once which wasn't done according to the trading logic of the robot but by the risk level set by the owner of the account.

Still statistically having one stop-loss in 7 months and this high profit the system is also looking reliable. But it still needs to work for a longer time to consider it to be highly profitable and reliable at the same time.

We also have to admit that there are a number of pros of the EA such as compatibility with any broker, NFA regulated brokers, and brokers with FIFO rule. Moreover, the developer promises 30 days money-back guarantee and claims the EA to be designed in such a way, so that you can get the same results as on the developer account. Also, the EA has got one of the main ForexStore achievements which verify that the refund policy is protected not only by the seller but also by the ForexStore market.

In the end, it must be said that the EA has got a risk limit system which is helpful for traders to set the risks lower but in this case, the amount of the initial deposit then should be higher to produce the same rapid trading. And this is the point of this EA – not that much about total safety (still the EA copes pretty well with the losses and security of the account) but more about the rapidness.