Forex Knight Rider
Forex Knight Rider is a new Forex scalper EA. It’s fully automated and will make several trades a day at about 6 pips in profit each (96.67% winning trades). It runs exclusively on EUR/USD 15 minute chart. Indeed, it is a true scalper per specification.
The scalper opens positions with 100 pips stop loss and 100 pips take profit, however, the real exit point is 6 pips and the trades are always closed at that point. Furthermore, from the statement showed on the website, and the big average loss, it looks like in case of loss, it doesn’t close trades earlier than the stop loss. What this means is that the real risk/award ratio is a whooping 16.67. I don’t know how about you, but to me it seems way too big, even for a scalper. There’s no guarantee whatsoever that it will continue to perform at 96.67% winning rate and with one loss taking down almost 17 consecutive profitable trades is way too big.
I would conclude it needs a much lower stop loss, but then it will affect the winning rate significantly. Really, scalpers aren’t there for long term profits, so maybe I’m being too demanding. One thing is clear, if you’re looking for long term profits, you’re obviously not gonna find it in Forex Knight Rider, but if you want a quick buck and can afford some risk, you can try it out.
Some more facts:
- Cost: $97
- Guarantee: 60 days 100% Money Back
- Currencies supported: EUR/USD
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