The presentation of EA Super 8 does not explain to us how exactly this robot can benefit traders. No promises are included, and unlike other sellers on mql5, this vendor appears not to be bothered about telling us what sets his product apart. He mainly focuses on providing us with recommendations, which he thinks will make the EA work correctly. So, let us examine the robot in detail and also see what these recommendations are.
EA Super 8 was developed by an individual known as Vitali Vasilenka. He hails from Belarus and has been working in this market for a year. Some of the other products that are found on his portfolio include EA Smoke, EA Golden Moon, Prime Trend, and EA Surfer among others.
EA Super 8: characteristics
In order for the system to function efficiently, we are informed that:
- The best broker to use is Exness
- It prefers to work with raw spread/zero accounts
- Traders are to withdraw profits daily after completing all transactions.
Currency pairs, strategy & timeframe
EA Super 8 supports the EURUSD, AUDUSD, and NZDUSD currency pairs. Therefore, you can choose one of the instruments you want to trade with. However, you are cautioned that combining all the trading symbols on one account is related to a great risk of loss. It is also worth noting that the system works on the 1 minute timeframe. So, we can say that it has an element of scalping. For you to start trading with EA Super 8, you are required to have a minimum capital of $100.
The developer describes the robot’s trading approaches as follows:
- It is designed for aggressive trading.
- It has built-in new techniques for establishing the direction of the trend.
- It trades with a minimum profit utilizing a system without loss, regulating each trade.
However, we have a lot of questions about the above strategies. For instance, what does aggressive trading entail? Does it involve trading more markets or applying aggressive trading entries? We are also wondering-what does the robot do after spotting the trend direction? The vendor needs to be more serious and provide the trading community with answers to these queries.
EA Super 8 trading performance
Lucky enough, we have a backtest report. According to it, the system traded the NZDUSD currency pair on the M1 timeframe from January 2013 to June 2021. Fixed lots sizes of 0.01 were applied. With a deposit of $100, a profit of $97121.75 was made. So, the EA had a profit factor of 1.80. The trading frequency was high as a total of 230658 orders were executed. In the end, 70.45% of the short positions and long positions were won. The drawdown rate of 28.90% was a bit high and a sign that the strategy was high-risk.
The vendor posts a screenshot of trading results for his real trading account. But we are doubtful of their credibility mainly because they have not been verified by trusted Forex websites like FXBlue or Myfxbook.com. However, we have assessed the data to have a clue about the EA’s alleged performance in the live market.
We can see the system has attained an overall growth of 465%. However, the drawdown — 55.8% is massive and points to a dangerous strategy. A profit of $4470.69 has been realized from an initial deposit of $1,000. The trades won are 64.1%, whereas the trades lost are 35.9%.
How much does it cost?
The product is being sold at $249 on the mql5 website. This price quotation is quite high. The average cost of an EA in the market is below $200. A money-back guarantee is not available as well. Therefore, in our opinion, these factors make the system not worth the money.
Reviews from customers
We have reviews from customers on mql5. Most of the clients are impressed with the EA and have found it useful. Nonetheless, there is this one trader who admits that the system makes small profits and big losses. We also noted that some people mentioned that martingale is also part of the strategy used. This approach is very dangerous.
Should you use EA Super 8?
|Backtest results are available||Costly|
|Unreliable live trading data|
|Martingale is used|
The vendor of this EA is not fully transparent. He fails to explain the strategies his invention applies. Even so, based on our assessment, we believe that scalping and martingale are at play. The former approach is known to generate tiny profits, while the latter one is very risky. At least the disgruntled trader above has highlighted the effects of these methods. To that end, we advise against acquiring this system.