Gratified Long Term Trader Review: Things to Consider Before Investing

Gratified Long Term Trader

Gratified Long Term Trader is a Forex robot that trades 14 currency pairs on the H1 chart. The EA works with most brokers and applies stop loss and take profit to trades. You can buy the latest version (1.2) of this system on MQL5. 

Scott Fredeman is the vendor behind this system. He lives in the United States, and his goal is to create the best trading systems to assist traders earn money yearly. Aggressive Grid Sniper, Blazing Night Scalper, EA Monster Multiple Strategies, and Midnight Blitz are the other systems included in this developer’s portfolio. 

The highlights of Gratified Long Term Trader

Below are the features which the developer thinks differentiates the EA from other trading tools:

Multiple-currency support

The EA trades on 14 currency pairs. These include AUDCAD, AUDJPY, AUDNZD, AUDUSD, EURCHF, EURNZD, EURUSD, GBPAUD, GBPCAD, GBPNZD, GBPUSD, NZDCAD, NZDUSD, and USDCAD.

Works on the H1 chart

You are advised to trade the robot using the 1 hour timeframe. 

Trades safely

According to the vendor, the EA is not sensitive to spreads, so it will not increase your trading risks 

Trading strategy of Gratified Long Term Trader

The EA follows the trend and also goes against it. This depends on the currency pair being used. However, the vendor doesn’t specify which currencies follow the trend and which ones counter it. The system uses different moving averages to ascertain the entry point of each pair. A stop loss and a take profit are attached to each order based on the kind of volatility they are exposed to. 

Backtesting reports

A screenshot of EA’s backtest data on MQL5
A screenshot of EA’s backtest data on MQL5

The system’s backtest data is available on mql5, and from the stats, we have learned that it executed 6335 trades during this simulation period. Unfortunately, the win rates for both the short (54.79%) and long trades (53.44%) were poor. The profit factor of 1.20 also shows us that the robot didn’t generate substantial profits. Luckily, the maximum drawdown, which was 10.84%, meant that the EA applied low-risk trading. The recorded total net profit was $65843.09. 

Trading results in real time

Live trading results on Myfxbook
Live trading results on Myfxbook

We have a live account that generates a daily profit of 0.31% and a monthly profit of 9.97%. As a result, the EA has made a profit of $127.66 using a $1500 deposit. The total gain is 23.21%, whilst the drawdown is 9.21%. This suggests that the system’s trading activities are safe so far. 

Trading performance
Trading performance

The system has executed 95 trades, and the resulting profit factor of 1.49 is quite mediocre. A majority of the short positions have been unsuccessful as we have a poor win rate of 40%. The long positions (70%) perform way much better. There’s an average trade length of 6 days. 

Daily trades
Daily trades

Trades are conducted  from Sunday through to Friday, and most of the trades are initiated on Wednesday. 

Trading history
Trading history

The EA has made many losses for the account. Some trades are held for days before being closed. SL and TP levels are applied, but not on all the orders. 

Gratified Long Term Trader price

Gratified Long Term Trader is available on MQL5 at a one-time price of $299. The future price is $499, so the vendor asks that you buy the system early to save more. We could not find a money-back guarantee for the system. 

The EA’s price on MQL5
The EA’s price on MQL5

Customer support

You can contact the vendor through the comments section on MQL5. He does not provide his email or any details on the social network platforms you can use to reach him. 

Are traders happy with Gratified Long Term Trader?

Yes, they are. In summary, the happy clients say that the robot has the best settings and is profitable. The only negative review is written in Spanish, and according to this trader, the bot doesn’t work, and it loses more than it wins. 

Customer reviews on MQL5
Customer reviews on MQL5

Gratified Long Term Trader

Gratified Long Term Trader
3 5 0 1
We have learned that the EA can trade on multiple currencies and manage to minimize trading risks at the same time. Traders say that the system is profitable, but the trading results reveal that the revenue it earns is nothing to write home about. Since the EA can stay for long periods without trading in some cases, you might lose opportunities to optimize profits.
We have learned that the EA can trade on multiple currencies and manage to minimize trading risks at the same time. Traders say that the system is profitable, but the trading results reveal that the revenue it earns is nothing to write home about. Since the EA can stay for long periods without trading in some cases, you might lose opportunities to optimize profits.
3/5
Total Score
  • Profitability
    2/5 Bad
  • Strategy
    2/5 Bad
  • Reliability
    3/5 Neutral
  • Price
    3/5 Neutral
  • Customer testimonials
    4/5 Good

Advantages

  • Several happy traders
  • Low trading risks
  • Multiple currency support

Disadvantages

  • Low profitability rate
  • Limited customer support options
  • Inactivity for long periods
  • Poor win rates for short positions
Total
0
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