Gratified Long Term Day Trader is an expert advisor that capitalizes on daily price movements in the Forex market while trading on 14 different currency pairs simultaneously. The vendor says that you should not worry when the EA incurs losses ranging between $50 and $80 because it will recover it the following day and make profits as well.
Scott Fredeman is the creator of this system. As a developer, he specializes in creating Forex expert advisors. Aggressive Grid Sniper, Blazing Night Scalper, EA Monster Multiple Strategies, Midnight Blitz are the other products in his portfolio.
Gratified Long Term Day Trader: characteristics
The EA’s features are summed up below:
- It works with TP and SL values.
- The robot runs on the MT4 and MT5 terminals.
- It’s not sensitive to spreads and supports most Forex brokers.
Currency pairs, strategy, & timeframe
- The EA works with 14 currency pairs: AUDCAD, AUDJPY, AUDNZD, AUDUSD, EURCHF, EURNZD, EURUSD, GBPAUD, GBPCAD, GBPNZD, GBPUSD, NZDCAD, NZDUSD, and USDCAD.
- The preferred working timeframe is H1.
Gratified Long term Day Trader follows the trend and also counters it depending on the trading instrument it is working with. It opens 10 or more trades at a time. This is based on the presumption that although one pair may be performing poorly, there may be other 3 or 4 symbols working much better. Moving averages are used to determine the entry of every symbol.
Gratified Long Term Day Trader trading performance
When the EA was backtested, it attained a total net profit of $65843.02 and generated a maximum drawdown of 10.84%. These values prove that the system worked with low risks to the balance and earned substantial revenues. The total trades completed were 6335, and they achieved poor win rates of 54.79% for short positions and 53.44% for long ones. The profit factor was 1.20.
The EA is currently trading on a real USD account on Myfxbook. With a deposit of $1000, the system has made a small profit of $118 within 2 months of active trading. Subsequently, we have a total gain of 22.41%. A drawdown of 9.21% indicates that the trading activities are safe as of now.
From 96 completed trades, we have an average profit factor of 1.46. The win rates of 40% for short positions are devastating. The long positions have a higher chance of ending up with profits as they have recorded a win rate of 70%. We have an average win of 106.12 pips and an average loss of -91.73 pips.
Long time frames were applied, and the account suffered a series of losses, especially between 22nd and 23rd December 2021.
How much does it cost?
The cost of Gratified Long Term Day Trader is $299. But the vendor plans to raise this price to $499 in the future. As you may have noted in the screenshot below, the robot doesn’t come with a money-back guarantee.
Reviews from customers
The robot has 8 customer reviews on mql5, and only one is negative. One customer is happy about how the vendor updates and improves the robot continuously. Another one indicates that it generates profits steadily. The only negative testimonial is written in Czech, but we have learned that this trader is concerned about the EA’s inability to make substantial profits for days.
Should you use Gratified Long Term Day Trader?
|Works on numerous currency pairs||Earns a small income for the user|
|Backtest and live stats are presented||Poor win rates|
The vendor is transparent about the performance of the robot as he shows us its backtest results and uses it to manage a live account on Myfxbook. Even then, you may have to contend with earning small profits and attaining poor win rates. Also, it might take you a while before you recover the cost of acquiring the system.