Champion EA is described as a smart trade system that trades 5 pairs simultaneously. It also utilizes a drawdown reduction function and a time filter for safe and profitable trading. The robot is suitable for FTMO and FIFO conditions.
Champion EA was created by a Russian developer called Evgenii Aksenov. The developer has worked in the Forex market for 3 years. To date, his portfolio has a total of 44 trading systems, 20 signals, and 14 signals. His products have also been downloaded more than a thousand times. Some of Evgenii’s listed systems are Genesis EA, Gold Eagle, Gold Dragon, TrendLine, Currency Power Metter, and Profit Zone Pro.
Champion EA: characteristics
We have listed the characteristics of the robot below:
- You only need a single chart to trade all symbols.
- It has no analogues in the market.
- It’s easy to use and doesn’t need optimization or additional set files.
- The system has a built-in profit ratio system/drawdown.
- It requires a hedging account.
- The minimal initiation deposit for each pair is $100.
- For stable operation of the advisor, utilize VPS.
- It is not sensitive to spread and slippage, but traders should utilize an ECN broker .with low spreads
- It may not engage in trades for several days for each of the pairs
- It’s compatible with the MT4/5 platform
Currency pairs, strategy & timeframe
Champion EA supports a variety of currency pairs, including AUDNZD, AUDCAD, EURCAD, GBPCAD, and NZDCAD. The developer recommends that you only attach the EA on the H1 chart.
This robot’s strategy is based on the search for optimal entry/exit points. It assesses the price of every candle and its dynamic deviation in the flow of quotes and makes a trading decision only after the candle closes. A news filter is present to prevent random transactions in volatile periods.
Champion EA trading performance
Champion EA’s backtesting results are featured in the sales pitch, but the values of many important parameters are hidden. In this regard, we cannot see its drawdown, win rates, average profit and loss, profitability rate, etc. The available data indicates that the system began trading with a deposit of $1000. It completed 13685 trades, which led to a total net profit of $68,632,681.47. There was a profit factor of 1.69.
Though we are presented with live trading results, they are unverified. As per the screenshot above, the account was launched on September 9, 2021, and deposited at $10,000. The EA’s trading activities have resulted in the generation of a $6917.02 profit. This is a good amount. Consequently, the balance has increased to $16,917.92. However, the robot applies a risky approach as the drawdown rate has shot to 40.7% within 3 months of trading. The number of trading days is 149, with the average holding time being 5 days.
To date, the system has engaged in 536 trades, but their success rates are very poor. As you can see, most of the long positions taken have resulted in losses as only 45.52% were won. The performance of the short trades is slightly better — 54.48%. The higher average loss value (-$65.19) than the average profit ($33.77) also illustrates the robot’s high losing streak.
The EURAUD is the least traded currency pair (8 deals), while the most lucrative one is the EURCAD as it contributed a profit of 13K.
How much does it cost?
The price of this EA is exorbitant as it currently costs $1250. The vendor informs us that even this is a discounted price because the robot originally cost $9999. A money-back guarantee is not offered.
Reviews from customers
All customer reviews for this EA on mql5 are positive. The traders are acknowledging that the system is easy to set up and is earning them profits.
Should you use Champion EA?
|Easy to use||Risky strategy present|
|Positive customer feedback||Unverified trading results|
|Some backtest data is missing|
Both new and experienced traders can operate this robot because it is easy to use and doesn’t require any optimization. Users have confirmed this on mql5’s customer review section. Even then, you should also consider the EA’s downsides. For instance, it is very costly, and the high drawdown generated during live trading proves that the strategy present is risky. Furthermore, the vendor’s failure to disclose some of the backtest data is suspicious.