Introduction
Fortune EA MT5 is a trading robot that has garnered attention in the trading community, with an average rating of 4.6 out of 5. The reviews are a mixed bag with positive feedback on testing results and some issues concerning the strategy employed and glitch with double trades. As a professional trader and programmer, I am going to scrutinize this trading robot, compare it with one of our EASY trading robots, and provide an unbiased review.Comparison with EASY Robot
Comparing Fortune EA MT5 with one of our EASY trading robots, say the EASY Trendopedia, there are some differences. EASY Trendopedia utilizes a trend-following strategy which is generally more consistent and less risky compared to the Martingale strategy used by Fortune EA MT5, which is known to be risky due to its gambling nature of doubling down on losses.Pros and Cons
Fortune EA MT5- Pros: Good testing results reported by several users, works well avoiding news trading.
- Cons: Uses a Martingale strategy which can lead to significant drawdowns, some users have reported glitches with double trades, no profitable set file with stop loss found in back testing.
- Pros: Uses a trend following strategy which is more consistent and less risky, no reported glitches, has stop loss mechanism to limit losses.
- Cons: Might miss out on trading opportunities when market is ranging or there is no clear trend.
Optimal Conditions for Use
Fortune EA MT5 works best when used to trade in a turbulent market without any significant news events. It's important to manage risk and not to depend on leverage as the Martingale strategy can lead to significant losses.Source Code of Fortune EA MT5
The original source code of Fortune EA MT5 is not publicly available as the robot is sold on the MQL5 platform. However, based on its description, we can create a similar code for educational purposes. If you have any questions regarding this code, feel free to ask on easytradingforum.com. Please remember that our team EASY Trading does not sell the Fortune EA MT5 robot, we have simply created a trading robot code based on its description.
Code:
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