Today, we’d like to talk about Sweet Profit Robot. The EA was introduced as a High Profits Ratio Robot.
There is a fake five-star rate. Clicking on it, we find ourselves on the site builder.
It’s another lie. The site was created only in 2020.
Sweet Profit Robot: Characteristics
Let’s sum up all features, settings, and a strategy in the list:
- The EA trades fully automatically.
- It works on the MetaTrader 4 platform.
- It has a very high-profit ratio strategy.
- The robot can trade under any market condition.
- The system works with all currency pairs.
- There are High Impact news filters to avoid trading during high-volatility hours.
- The money-management system allows calculating Lot Sizes automatically and setting SL and TP levels for every deal.
- We can trade only those pairs that we want to.
- The minimum balance for a 0.01 Lot is $100.
- The optimal leverage should be 1:500.
- The EA trades through one chart, so there’s no need to attach it to all of them.
- The default settings are good to go without changes.
Currency Pairs, Strategy & Timeframe
- The developers said nothing about trading strategy.
- Trading results showed that there’s a Grid plus Aggressive Martingale combo.
- The EA trades the next currency pairs: AUD/USD, EUR/USD, GBP/AUD, GBP/USD, USD/CAD, USD/CHF, and USD/JPY.
Sweet Profit Robot Trading Performance
The developers provided no backtest reports. We can’t be sure that a strategy was well-tested before it went live.
It was a real USD account on the FBS broker house. The robot used technical indicators and worked automatically without people’s interventions. The leverage was chosen as the highest one 1:1000. The EA traded on the MetaTrader 4 platform. The account had a verified track record. It was created on September 03, 2020, and funded at $5000. Since then, the absolute gain has become -99.90%. The maximum drawdown was -99.97%. The account is tracked by 19 traders. As we can see from the chart, the EA zeroed it several months ago.
The EA traded 217 deals with -593.4 pips. An average win was 15.22 pips when an average loss was a bit higher (-29.56 pips). There were 276.4 lots traded. The win-rate for Longs was 58%, for Shorts – 60%. The average trade length was almost 8 hours. The Profit Factor was less than 1 (0.84).
The robot worked with seven symbols: AUD/USD, EUR/USD, GBP/AUD, GBP/USD, USD/CAD, USD/CHF, and USD/JPY. The most losses occurred on the GBP/AUD (-$15208.26). The most profitable and most traded was EUR/USD (51 deals with $3994 profits).
The EA traded during Asian and European sessions.
The less traded day was Wednesday – 32 deals.
As we can see from trading results, the EA opened a huge Grid of orders with increased Lot Size. As a result, they were closed after reaching Stop Out levels.
September 2020 was the first and, alas, the last month of trading.
How much does it cost?
Sweet Profit Robot is introduced in two packages: Standard and Premium. The Standard pack costs $100 monthly. We’ll get one license for a demo or real account. We can trade on the real account and test the EA on the demo account at the same time. For $170 monthly, we can expect to receive two licenses for a mix of real and demo accounts.
Reviews from customers
There’s a page on Forex Peace Army with a connected account but without customer feedback.
Should You Use Sweet Profit Robot?
|No pros||No team revealed|
|No strategy explanations provided|
|Grid and Martingale on the low win-rate robot|
|No backtests provided|
|Horrible trading results|
|No money-back guarantee|
|No people’s testimonials provided|
Sweet Profit Robot is a scam because it blew the account for several weeks of September 2020. Frankly, it’s never been a good one. The presentation said nothing about the strategies behind it. As soon as we see this treatment, in 90% of cases, there are Grid and Martingale strategies. Trading martingale on the less than 85%-90% win-rate EAs is madness. Sweet Profit Robot’s account just illustrated this well.