Introduction
Well, well, well. Here we are again. Another trading bot has stumbled onto my radar. This time it's the TW Session MT4. Let's put it through its paces, shall we? But first, a quick heads-up: there are no user reviews and ratings yet for this product. So why not be the first? Your review could be the beacon for other traders in this dark, unpredictable world of Forex. Hop onto our forum and share your experience.Description of Functions
The TW Session MT4 robot trades on the MetaTrader 4 platform. It boasts of the ability to adapt its trading strategy to the opening and closing times of different trading sessions. That's all well and good but remember, my friends, in trading, there's always a risk.The robot's strategy revolves around a combination of a stop-loss order, a take-profit order and a trailing stop order. In theory, this should allow the bot to capitalise on price movements and limit losses. But we all know theory and practice are two very different things.
It's fully automated, supposedly reducing human error, and works on all currency pairs. Apparently, it has an 'integrated smart news filter' to avoid news shocks. But I'd take this with a pinch of salt.
Analyzing Results
Pardon me for not getting too excited about its supposed 1-year excellent performance. It's too early to break out the champagne. We operate in a dynamic market. What works today might not work tomorrow.Is it profitable? Yes, according to the results from the website. His Majesty, TW Session MT4, has carried out 477 trades with a win rate of 84.27% and a very impressive profit factor of 2.42. But still, time will tell how this performs in the long run.
Pros and Cons
The bot seems to be fundamentally sound, but I am wary of its supposed 100% automation. The lack of flexibility and inability to adapt to market changes could be its downfall.The presence of a news filter is commendable, albeit not a new feature but good to have nonetheless. The trading strategy seems effective, but again, we need a longer time frame to conclusively decide.
Source Code of TW Session MT4
Oh, the source code. The Holy Grail of any trading robot. But sorry to burst your bubble, we don't have the original source code of TW Session MT4. What we do have is a code that replicates its functionality based on its description on MQL5. Questions? Shoot them. Remember, this is code from easytradingforum.com.
Code:
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