Red Horse EA is a fully automatic system created to trade gold. It is purported to have a low drawdown and a high-profit margin. Apparently, the robot’s expected monthly profit ranges between 12% and 23%, whereas the maximum drawdown limit is 9.7%. This possibly  makes the system a superb addition to any user’s arsenal. 

Sinry Advice, a UK-based company, is behind the development of this system. The Werewolf robot and TJ10X are some of the products you will find in the firm’s portfolio. Nonetheless, we are told nothing about the founders or the development team.

Red Horse EA: characteristics

The EA has these distinct features:

  • It comes with a customizable news filter and is able to assess technical and fundamental news.
  • Risk and money management systems are provided to minimize losses.
  • It works on the MT4 trading terminal.
  • The EA only supports ECN or Standard account types.
  • The minimum recommended deposit is $1000, while the recommended leverage is more than 1:500.

Currency pairs, strategy, & timeframe

The system mainly trades on the XAUUSD currency pair using the M5 timeframe. In the matter of the trading strategy, the system is said to use a top-bottom strategy. It also assesses the market based on volatility and volume activity. In addition, the EA relies on an intelligent signal to tell it when to place a buy/sell order. Every time the market goes past the price order, the grid strategy is activated. Multiple scalping systems are available as well, but you need to be aware that the timeframes used may change. 

Red Horse EA trading performance

The backtest results for the system are not presented. Backtesting plays an integral role in creating a workable strategy. If done well, it can assist developers to polish up their algorithms. 

Live trading results on Myfxbook.

We have a demo USD account with a total gain of 28.69%. This increase in value can be attributed to the EA’s trading activities that have led to the generation of a $286.87 profit from a $1000 deposit. Now, the account’s balance stands at $1286.87. Next, we have a drawdown of 19.85%, which shouldn’t raise any concerns because it shows that Red Horse is a safe trader. 

Trading performance.

The system has managed to close 499 trades, attaining success rates of 73% for long positions and 74% for short ones in the process. The resulting profit factor is 1.38. This figure highlights the EA’s low profitability rate in that the user only gets an additional 38 cents for every $1 risked. 

Summary of trades.

The buy orders have brought in the highest amounts of profits—$195.18. 

Risk of ruin.

According to the stats above, 110 consecutive losses will lead to a loss of 50% of the account. 

How much does it cost?

Red Horse EA is relatively expensive. A monthly subscription plan costs $59, while an annual one is $495.6. If you buy the robot and make profits within the first 14 days, then be rest assured that it is working well. In case it fails to earn you income within this period, send the team an email and apply for a full refund. 

Reviews from customers

Red Horse has zero customer feedback. It seems that the system was launched just the other day. So, it will take a while before traders become familiar with it and subsequently comment about the performance.  

Should you use Red Horse EA?

ProsCons
Live trading stats are presentPricey
Easy to useNo reviews from customers
Lacks backtest results
Low profitability rate

Conclusion

The EA has live records on Myfxbook, which you can follow to see if its outcomes meet your expectations before making any investment decisions. In any case, you need to keep in mind that the robot’s price is somewhat high. Moreover, the lack of backtest results means you cannot forecast its future performance.