Forex Pirate

[TopicStarter]

Introduction​

So here we are again, evaluating yet another Forex robot. This time, it's the Forex Pirate. With a name like that, you'd expect it to loot some pips, huh? We'll go through its features, analyze its performance over the past year, and see if this Forex Pirate is more of a treasure trove or a sinking ship. Spoiler alert: it's usually the latter.

Features of Forex Pirate​

Forex Pirate claims to bring several advanced trading functionalities:

• Automated Trading: Executes trades automatically based on preset parameters.
• Multi-Time Frame Analysis: Can analyze multiple time frames, although user reviews suggest otherwise.
• Stop Loss and Take Profit: Incorporates risk management tools.
• Adjustable Settings: Allows customization for different trading strategies.
• Backtesting Capability: Provides historical performance analysis.

While these features sound promising, their real-world application is, well, debatable.

Performance Analysis​

Based on user reviews and available data, the rating of Forex Pirate sits at 3.54. Most feedback leans towards the negative side, which is hardly surprising:

• Profitable on M1: According to user aekkaratchaiyac, the robot makes consistent profits on the M1 timeframe. Although, a single positive review isn't exactly convincing.
• Account Liquidation Risks: User cocoliso2016 warns that the robot eventually liquidates the account, describing it as unsafe.
• Lack of Activity: juanjeste pointed out that the robot does nothing over several days on multiple timeframes. Given the market's volatility during the review period, this is concerning.
• Outdated: Sabrina Hellal highlights that the robot hasn't been updated for a while, which is never a good sign in the ever-changing Forex market.

The robot's inconsistency and inactivity are red flags. It seems to need constant monitoring and tweaking to avoid substantial losses.

Pros and Cons​

Let's sum up the pluses and minuses:

Pros:

• Adjustability: Offers customizable settings.
• Historical Data Analysis: Backtesting capability is useful.

Cons:

• Inconsistent Performance: Results vary significantly.
• Outdated: Lack of updates.
• Risk of Account Liquidation: High-risk profile.
• Limited User Satisfaction: Mixed to negative reviews.

Conclusion​

Forex Pirate seems to be more of a hit or miss robot. While it has some promising features, its inconsistent performance and outdated nature are significant drawbacks.

Discuss Forex Pirate on Our Forum​

We encourage you to share your experiences with Forex Pirate on our forum. Your insights could help others make informed decisions. Head over to our forum and let's dissect this robot together.

Source Code of Forex Pirate​

Unfortunately, the original source code for Forex Pirate is not available. However, based on its description on MQL5, our team at EASY Trading Team can certainly create a similar trading algorithm. This won't be an exact replica but will follow the same principles outlined in its description. If you have any questions about this sample code, feel free to ask.

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Download Forex Pirate Trading Robot​

Looking to download the Forex Pirate trading robot? While we don't sell the original version, you can always try the code developed by our team at easytradingforum.com based on its description. Your feedback will be invaluable for refining this version.

So, let's get to it. If you have questions or suggestions, don't hesitate to reach out on our forum. What's more exciting than sharing a pirate's loot, right?

 

[Dmitry Vasilev]

This seems intriguing! However, most of the report data is presented in Russian, which makes it a bit challenging for non-Russian speakers. An English version would certainly enhance usability and accessibility!