Introduction
In the world of algorithmic trading, finding a reliable and profitable trading robot can be challenging. Today, we will review News Robot MT4, a trading robot designed specifically for news trading. The robot has a user rating of 4.48 based on several user comments, which provide a mix of positive and negative feedback. This review will also compare News Robot MT4 with one of the EASY Trading Team's robots, specifically EASY Trendopedia, to highlight why the latter is significantly better, more profitable, and reliable.Comparison with EASY Trendopedia
When it comes to advanced trading algorithms, EASY Trendopedia stands out for several reasons:1. Robust Strategy and Indicators:
EASY Trendopedia utilizes a blend of advanced technical indicators, ensuring better market entry and exit points. The robot adapts to various market conditions, making it versatile.
In contrast, News Robot MT4 primarily focuses on news events, limiting its effective trading periods to specific times.
2. Profitability and Drawdown:
EASY Trendopedia has been rigorously backtested and forward-tested, demonstrating consistent profitability with low drawdown. On the other hand, News Robot MT4 has mixed reviews in this regard. While some users like jacu111 have found it profitable, others like choose6569 report consistent losses.
3. Reliability and User Experience:
EASY Trendopedia is known for its reliability and smooth user experience. It rarely encounters technical issues. Conversely, users like jos_veg have faced difficulties downloading and installing News Robot MT4, highlighting potential reliability issues.
Pros and Cons
News Robot MT4:- Pros:
- Effective for news trading, as indicated by users like jacu111 and leeindy.
- Potentially high profits during news events. - Cons:
- Limited to news trading, which reduces trading opportunities.
- Reports of technical issues and installation problems, as highlighted by jos_veg.
- Mixed performance reviews, with some users reporting consistent losses.
EASY Trendopedia:
- Pros:
- Versatile and adaptable to various market conditions.
- Consistently profitable with rigorous backtesting.
- Reliable and user-friendly interface. - Cons:
- Requires a good understanding of technical indicators for optimal use.
Optimal Usage Conditions
News Robot MT4 operates best under specific conditions:1. High-Impact News Events:
The robot is designed to capitalize on market volatility during high-impact news releases. Examples include central bank announcements and major economic indicators.
2. Low Latency Environment:
To maximize its effectiveness, it is crucial to operate News Robot MT4 in a low-latency environment. Using a VPS with a latency of 2-3ms, as mentioned by choose6569, can be beneficial, although this user still faced issues.
3. Active Monitoring:
As noted by d4nis, the robot sometimes fails to execute trades on time. Active monitoring and manual intervention might be necessary to ensure it captures the news events.
Source Code of News Robot MT4
We do not have the actual source code of the original News Robot MT4 sold on MQL5. However, based on its description, our team at EASY Trading Team can create a similar trading algorithm. If you have any questions about our version of the code, please feel free to ask on easytradingforum.com.Our version, based on the News Robot MT4 description, is not for sale. It serves as an example of how such a robot could be implemented.
Code:
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