What should we do to Forex Imba to trade smoothly as devs said?

Forex Imba’s presentation starts with the offer. What do we know about the robot?

We tried to unite spread info:

  • AUD/USD and EUR/USD currency pairs supported
  • The minimum deposit is $60
  • Fixed lot size
  • No martingale 
  • Drawdown control
  • Compatibility with any brokers

The backtests

Forex Imba Robot Backtest

The devs told nothing about the strategy behind but provided real account trading results, as well as, backtests. Let’s take a look at one of them. It’s an AUD/USD currency pair backtest, performed on the M30 time frame, every thick, during 2013-2015 years. The modeling quality is 90%.

The EA managed to grow the account from $1000 to $4.56M. The profit factor was 3.1. The max drawdown was 26.11% The relative drawdown was 45.01%. 

Foreximba trading performance

Devs said that “during this period of time has shown stable and very profitable result,” but reality shows there’s not stable result at all.

Forex Imba Robot Myfxbook

This account runs with the max risks.

Forex Imba Robot statistics

So, loosing 5 deals in a row will decrease the balance by 20%. 

Let’s take a look at the medium-risks account.

Forex Imba Robot Myfxbook

It’s a real USD account. The robot work through FXOpen, with 1:500 leverage on the MetaTrader 4 platform.

As we can see, ForexImba has got two periods of trading. The first one was before March 2016, and the rest 4 years it just tries to recover after endless losses. As a result, the monthly gain is as low as 2.43% and the max drawdown was 42%. 

Forex Imba Robot advanced statistics

The robot performed 744 deals with 3830 pips. The average loss (-$121.6) is 2.2 times higher in numbers that the win ($55.51). The win-rate is 73% for both: longs and shorts. The average trade length is 3 days. The profit factor is mediocre and equals 1.29.

Forex Imba Robot statistics

The robot trades mostly during the European trading session.

Forex Imba Robot statistics

This account has been run with medium risks.

Forex Imba Robot statistics

Forex Imba Robot statistics

We’ve noticed if the trade longs more than 3-5 days it usually ends with the loss. Everything around 2 hours-2 days long is traded well. So, if you want to use the robot as a day trading system it’ll be probably a good decision.

Forex Imba Robot monthly gain

Forex Imba Robot monthly gain

The robot trades with no stop loss levels, so, be aware of using big leverage.

The offer

This version costs $220 with the money-back guarantee.

Forex Imba Robot offer

The common version costs $200. There provided a 30-day money-back guarantee. For this money, we’ll receive one real account, three demo ones, manual, and welcome support.

Conclusion

Pros

  • Two currency pairs trading
  • Low requirements for the minimum deposit
  • Backtests provided
  • 3-rd-part verified trading results with different risks provided
  • The robot can recover
  • Good win-rate

Cons

  • No strategy explanations provided
  • No money-management system explanations provided
  • The robot can’ trade smoothly
  • High risks trading
  • High max drawdown
  • 5+ days long trades blow the account balance
  • Two robot packages: FXMover and ForexImba

The robot works for a long period it’s true. You can probably use it successfully. but you’ll have to forbid the robot open trades (2-5)+ days long. Forex Imba surprisingly well trades as a day time trading robot that opens and closes trades at the same trading session. If you want to buy it to customize it can be a good option for you.