Forex Knight Rider

Donna’s Review:

Ease of Use:

Control of Risk:

Customer Support:

Overall Rating:

This robot was put on test on the 15 December 2009 and trades the EURUSD currency pair on the M15 timeframe.  It is ECN compatible with “96.67% winning trades on day trading due to its FKR ‘scalping’ technology” (according to the vendor).  The manual specifies build No 225 of Metatrader is required and shows you how to check the build number as well as going through setup in adequate detail for new traders to pick up easily.  The settings recommended by the vendor are the default settings and this is what we used on this account.

Forex Knightrider does not trade very frequently, we had 18 trades in total for our test. It also uses a large stoploss and a small take profit, which will result in a high win rate followed by the occasional large loss – an effect which can be seen on our test account. Towards the end of the test we did have two trades which did not have a stoploss or take profit placed – this appears to be a glitch in Metatrader at the time rather than being a problem with the robot, however it did result in two large stoplosses getting hit at once. Following this, and on reflection looking at our results so far we decided it just wasn’t worth continuing to test this over the long term, with such large stoplosses and infrequent trades it can take months to recover a single stoploss, a risk we just do not feel worth taking, although this robot is definitely far from being a bad one.

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