The Comeback Kid EA is a Forex expert advisor that also functions as a trade manager. According to the vendor, it can conduct profitable trades in autopilot mode. The vendor also promises a monthly profit of 5-10%, but the veracity of this claim can be determined only after analyzing the live performance.
The Comeback Kid EA: characteristics
You only need to spend 5-10 minutes every day with this system. It also has an in-built trade recovery feature; however, the vendor does not clearly explain how this works. This EA follows a 2-indicator system to look for trading opportunities, but the vendor does not specify what these indicators are.
To use this robot, you need to have the Metatrader 5 trading platform. The vendor recommends getting started with a minimum balance of $3000 and leverage of 100:1. It also has a money management system that adjusts the size of the trading lot based on the order type and the market condition.
Currency pairs, strategy, and timeframe
You can use this robot to trade in all currency pairs. This expert advisor uses a combination of averaging and grid systems. It concentrates on the major Support and Resistance levels, attempting to recover lost trades. Only when the price moves favorably does it take grid positions.
Now, both of these strategies are considered risky by the overwhelming majority of Forex traders. In a volatile market, grid trading can lead to huge losses, and that’s why most traders avoid EAs that use this strategy. Also, it requires you to invest a large amount initially, so if you are a novice trader, you might not find this suitable.
The Comeback Kid EA trading performance
What is noticeable about this EA is that the vendor does not share the backtesting results for the strategy. This is quite odd, especially considering backtesting results are present for other EAs sold on the website. It tells us that the seller does not wish to reveal the historical performance of the robot. Seasoned traders look for these tests to determine whether the strategy is effective in a live trading scenario. So the absence of the same might discourage many of them from investing.
This live trading account on Myfxbook has only been around since June 16, 2021. Thus, the EA has a very short trading history, or in other words, it hasn’t been exposed to different market scenarios. At this moment, the total profit generated through this account stands at $3164.50.
The daily and monthly profits are 0.18% and 5.44% respectively and the drawdown is 2.54%. There have been 277 trades conducted through this account, with the EA winning 66% of them. We can see that the average loss of -110.00 pips/-$39.26 is slightly higher in comparison to the average win which is 85.96 pips/$37.88.
We studied the recent trading history to understand the trading pattern. It seems the EA only extracts minor profits from each trade, and we can see the occasional loss every now and then. Such a trading approach is not suitable for long-term traders who want their EAs to have higher profitability.
How much does it cost?
The Comeback Kid EA is sold at an exorbitant price of $497. There is no way a trader would be willing to pay this for a new EA that is largely unproven in the live market. At this price, you can find EAs that have several years’ worth of live statistics supporting them. Also, the robot is sold on the MQL5 website that does not offer a refund unless the product description is inconsistent or the application operates incorrectly.
Reviews from customers
Since there are no user reviews for this expert advisor on websites like Trustpilot, Forexpeacearmy, Myfxbook, and Quora, we can tell that it doesn’t have much of a reputation among traders. In the absence of verified reviews, it becomes difficult to trust this robot, since not many people have used it for live trading.
Should you use The Comeback Kid EA?
|Verified live trading results||No money-back guarantee|
|Short trading history|
|Dangerous grid-averaging combo strategy|
We cannot recommend this expert advisor to traders mainly because it is overpriced and has an extremely short trading history. Furthermore, you won’t get a refund in case the robot suffers from large losses, which is very likely considering the fact that it uses a risky combination of averaging and grid strategies.