Ghost Trader EA is a new automated trading software developed by FX Ekspert. FX Ekspert is the company behind the Ghost Trader EA and they are located in Harjumaa found in Northern Estonia. The vendor of this Ghost Trader EA which is the FX Ekspert claims to be a team of experienced traders. Official website gtrader.eu
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Ghost Trader EA Review
Ghost Trader EA is a Forex robot that offers access to one live account and a free testing accounts. Ghost Trader EA offers support for 15 currency pairs and you can as well get free updates.
Free demo accounts offer you a chance to test a forex expert advisor performance. These accounts let you use virtual money to make trades and test strategies. Best Forex EA’s demo accounts let you enact all the important trading functions, including setting up alerts and creating stop-loss orders.
During our check on Ghost Trader EA, we saw that they provided insight on the type of trading strategy the robot uses. The robot is based on Martingale trading strategy.
Martingale is arguably one of the riskiest trading strategies available. By doubling up on losing positions, you’re exposing your trading account to dangerous levels of drawdown that can lead to a blown account.
High Price tag, Poor Currency Pair selection
The cost to purchase a single package of Ghost TRader EA is $499. This is high compared to the industry average. Most forex robots costs within $100 – $250 as a start, and some go even lower. For example, leading automated trading software DaxRobot, cost is free and requires a minimum initial deposit requirement of $250.
The Ghost Trader EA offers 15 currency pairs USDCAD, NZDUSD, NZDCHF, NZDCAD, GBPNZD, AUDCHF, AUDUSD, AUDNZD, CADCHF, EURCAD, EURGBP, EURJPY, EURNZD, EURUSD, GBPCAD. You will see that most are minors with only one major, EURUSD. The majors are the most liquid and widely traded currency pairs in the world and thus comes with a lower spread.
In the good side, we can see that Ghost Trader EA is recommending an intraday time frame, H1. Intraday Timeframe have advantages which include lots of trading opportunities, less chance of losing months and no overnight risk. But you should consider that the transaction costs will be much higher (more spreads to pay).
There are no client review on the Ghost Trader EA
Ghost Trader EA Result
Ghost Trader EA provides two myfxbook accounts to compare performance test. One of the accounts is active and the second one is inactive.
The inactive account is showing a gain of 140% and a drawdown of over 40%. The active account is showing a gain of 27.59% and a drawdown of 16.41%.
When we read a performance test, we pay much attention to see what is the drawdown percentage. we prefer systems with a drawdown below 30%.
Ghost Trader EA Review Conclusion
The Ghost Trader EA performance test are still new. The active account result is less than a month and an average trading time of one day. The martingale strategy utilized by the EA is a dreaded one. There is a mathematical certainty that Martingale trading approach will blow your account if used for a long time.
What more, we do not see any reason why you will pay such high price tag for an EA with no real client review.
If you are using this Ghost Trader EA let us know how it performs with you below.
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