Forex Sugar trades using price action and other technical indicators. It does not close trades at the designated stop loss and take profit but will use its calculations to determine the exact exit points. Brian Jones develops the algorithm. He does not share any information on his coding and trading experience, which is a poor practice. Our article will discuss all the features of the EA and answer the question if it is good enough for your investment.
The highlights of Forex Sugar
The robot has the following features, which, according to the developer, makes it a unique trading tool:
Virtual take profit and stop loss
The robot does not close trades at a fixed stop loss, as mentioned before. After entering a position, it will use the built-in indicators to exit the market at the right conditions.
The robot adjusts itself when any important economic event is about to happen. Traders can also post news events within the expert and set the number of minutes the robot should avoid trading. The algorithm likes to trade on stable markets; therefore, it turns itself off during volatile conditions.
Developing an algorithm that uses a complex virtual stop-loss function and selling it for a low price raises many red alerts. No one in the financial industry or in the general community will be willing to sell a neural network for a few bucks. The developer is boosting the product to boost sales.
Trading strategy of Forex Sugar
The robot is installed in the MT4. To make it work, traders have to place the ex4 file in the experts’ directory of the platform. Afterward, they have to enable live trading and place the EA on respective charts to begin trading.
The robot trades on price action and technical indicators. After receiving signals from these indicators, it will open a position accordingly. It requires leverage of 1:500, which is pretty high. The recommended pairs are EURGBP, XAUUSD, XAGUSD, and AUDUSD on the 15-minute chart. To understand the working better, we head over to the live results on Forex Blue. The robot uses grid and martingale strategies which is evident when looking at the increasing lot size and closing time.
There are no backtesting results available. This might be because the EA would have failed them due to the implementation of the martingale strategy.
Trading results in real time
Live trading results are available on FXBlue, which shows performance from January 28, 2021, till July 22, 2021. Since then, the robot has had an average monthly gain of 17.8%, with a drawdown of 1.0%. There were 548 trades in total, with an average holding time of 5.2 hours. The expert advisor trades with a winning rate of 78.5% with a profit factor of 12.05. The average winning trade was $15.91, while the loss was -$43.11.
Forex Sugar price
The robot is available for an asking price of $99 and $274, which comes for 1 and 5 licenses for real accounts, respectively. There is no money-back guarantee by the developer. The EA is not worth the price as the performance records are only on a demo account.
Reviews from customers
Customer reviews are available on the Forex Peace Army for Point Zero trading, which gives the company a total of 4.495 for 107 reviews. Customers complain that the developer is not providing full refunds. They also state that he is rebranding others indicators.
The developer only provides his email address for contact purposes. There is no live chat support that traders can use.
Are traders happy with Forex Sugar?
There are no customer reviews present at Forex Peace Army that can guide us on the efficiency of the algorithm. Users are afraid of the martingale strategy. Also, there are no live records that are a huge turn-off.
Forex SugarForex Sugar
Trading Strategy3/5 Neutral
Live Results3/5 Neutral
Customer Support2/5 Bad
User Reviews2/5 Bad
- It uses a stop loss
- No live records
- No transparency of developer
- Uses risky martingale strategy