Fxwitcher EA Review

10Fxwitcher2070114Main Features of the FX Witcher EA

This automated solution possesses a hybrid design since it incorporates the primary concepts of both scalping and grid strategies. This tool has been constructed to track and monitor the currency market around the clock throughout the entire trading week with no interruptions. Although the product exploits the key features of a specifically selected Martingale strategy, it does so by exposing user equity to minimum levels of risk exposure.

The Fxwitcher achieves its objectives by detecting high quality entry opportunities using a unique design that is structured on innovative mathematical indicators. In addition, each active position is supported by a carefully chosen profit-target and stop-loss in order to maximize gains at minimum risk. This tool aims to identify the perfect timing to commence constructing a grid basket by ensuring that margin calls will always be eliminated.

The developers of this product boast that their device has proven itself over an extensive period of time and even during very difficult financial events, such as the 2008 banking meltdown, a deep European recession and the instigation of quantitative easing by the global central banks in recent years.

You can trade the currency market with confidence using the Fxwitcher knowing that your account balance will always be well protected. This is because this robot contains powerful safety features enabling you to adapt its risk levels so that they will comply with your own trading preferences and aspirations. In particular, you have the ability to safeguard your equity from traumatic events, such as periods of high volatility.

 

Trading Strategy

As already stated, the Fxwitcher possesses a design which is basically a hybrid of Grid and Scalper strategies which operate at low risk. This tool utilizes a series of specially devised and innovative mathematical indicators to identify quality entry opportunities. Once a first level trade is activated, it is supported immediately by a stop-loss and target-profit and will be closed if price hits the designated profit target.

Essentially, the software builds a grid basket of trades. For instance, a new first-level order will be activated once the indicators identify optimum conditions. However, should price subsequently advance against this active position, then a second-level order will be executed after a designated number of pips have been exceeded, i.e. 12 pips is the standard amount. The grid basket will then be constructed by adding new levels of orders everytime price moves an additional set distance against the original trade. The size of each successive position will be implemented using an increasing lot size, which is determined by utilizing a user selected low multiple. The default value of this parameter is 1.25.

As such, the Fxwitcher will normally be able to close this basketful of trades by recording a profit as long as price eventually retracts back into its original direction. However, what happens if it does not? A protection mechanism has been built into the design of this product to restrict the size of the loss under such circumstances.

Basically, the mathematical indicators are constantly tracking and evaluating the prevailing market conditions. Specifically, they have the ability to force a closure should they detect that conditions have deteriorated to such a point that the grid basket is no longer sustainable. Consequently, users can be assured that their account balances will always be fully protected even during the most difficult of trading periods, such as times of high volatility. Consequently, the possibilities of margin calls occurring are totally eliminated by exploiting this innovative protection mechanism.

 

Performance Tests

The mere mention of Martingale and Grid strategies is enough to strike terror in the minds of many traders. This is because these techniques can exposure a user’s equity to unsubstantiated levels of risk resulting sometimes in a complete meltdown. In fairness, the designers of the Fxwitcher have stressed that they have specifically overcome these problems by introducing innovative protection mechanisms.

Nevertheless, a series of tests were instigated with the primary intent of determining just how effective this expert advisor is at trading Forex. The results are presented in the next table.

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Key Parameters

Can the above figures now be deployed to ascertain if the Fxwitcher warrants further attention and if it possesses the ability to generate consistent profits? Yes is the answer as this task was achieved by utilizing the average values listed in the rightmost column of the above table to derive the following parameters.

1.       Win-to-loss ratio = 68%

2.       Reward-to-Risk ratio = 0.53

3.       Expectancy Value = $0.64

These results denote that the Fxwitcher EA is able to produce a profit of $0.64 for each $1 risked over the long haul.

 

User Comments

No useful remarks by users about the Fxwitcher could be located after undertaking an internet search.

 

Cost

The retail price of the Fxwitcher is presently $199.

 

Verdict

The performance parameters listed above do create some level of concern. This is because the relatively strong win-to-loss ratio is virtually offset by the very weak reward-to-risk ratio. Consequently, a disappointing expectancy value of just $0.64 is generated which does not provide enough tolerance against adverse trading conditions. For instance, a series of consecutive losses would badly impact any previously captured profits.

However, if you still consider that the Fxwitcher could be the right tool for you then you should consider following our helpful course of simple actions in order to evaluate it further. By doing so, you will gain the opportunity of comparing the performance of the Fxwitcher with those of other expert advisors.

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