In this review of Auto News Trader EA, we’re going to look into the different aspects of this forex bot, specifically the results of the EA, to see if it’s really profitable and how realistic the results are.
The creator of the EA has claimed that this EA’s brought him more than 1700% within a 2 year time period which is a bold statement and everyone knows, or should know, these kinds of results are not something continuous; however, it’s possible for a short term.
That’s why most EA developers who promise you something like that, open a small account and don’t want to endanger a large amount of money with these kinds of EAs.
Anyway, in this Auto News Trader review, we try to dig into the stats of the EA to see first, if the info on the stats is genuine, and second, whether we can rely on them or not.
But first, let’s see where Auto news trader comes from…
Auto News Trader Creator
On the webpage of the EA, we can see that the developer introduces himself as someone who didn’t want to be stuck in a run of the mill 9 to 5 job so he decided to drop out college and chase his dreams.
OK, something Cliché
He goes by the name of Josh Hamilton which may or may not be his real name because there’s no additional info or resume that confirms that but I don’t care. As long as his EA is profitable he can call himself whatever he wants — king of EAs, the god of news trading or even Hamilton F1
Auto News Trader System
As the name implies, Auto news trader opens positions on the news events releases, particularly on important news.
Josh says that finding the important news is the first step of the system which is done with the help of a news calendar — Forex Factory’s calendar is the one that he apparently uses.
The next step of the system is opening positions when the news events are released. The EA opens trades when a high or low is broken on the news release.
The third and last step is exiting from the trades using some methods such as trailing stop and cost averaging which are meant to increase profits and stay in a trade as far as possible.
However, since the volatility on the important news events are high and price moves too fast on those occasions, the trades won’t take too long to be closed and the EA acts as a scalping one as well — opening and closing trades in a very short time period.
You can figure that out by looking at the average trade length on the stats of the EA as well which is 2.4 min.
Auto News Trading Results
As you might know, there are some third-party websites such as Myfxbook or FXBlue that offer statistical service and if an EA has real accounts on those sites, we can rely on the results to a great extent.
Fortunately, Auto News trader has a live or real account on FXBlue so we have required stats to review, analyze, and study from different angles.
However, there’s another picture related to a second account on Myfxbook which is out of reach. I tried to find it on myfxbook but it seems the account is removed from there. The only reason that I think of is that the account either blew up or took a nose dive so the developer removed it.
It normally happens…
… EA creators usually open several accounts with the different settings of their EAs. Some of the accounts perform well and others go south so the developers have advertising material anyway, unless all the accounts are losers.
Anyway, we use FXblue to review the results of Auto news trader EA.
Age and Number of Trades
The age and the number of positions of a strategy are important because the EAs that have accounts with a few months of age and their trades haven’t been tested enough can’t give us reliable data.
I normally prefer the EAs with at least one year old and 300 trades, obviously the more the better.
Auto news trader account on Fxblue is more than 2 years old, 852 days to be exact, and has 588 trades. So I think it has reliable data for analysis.
The only problem that I see here is not the duration of the account but it pertains to not having current results. The results of the account are from 2015 to 2017 and we don’t see any results afterward so that we can see if the EA is still profitable.
The account has gained 1736.2% during 852 days that the EA had been trading on it. As I said before, it’s very rare but possible to make such a profit every now and then.
however, It definitely won’t be consistent, and also you won’t pull off such a thing if you don’t know an EA very well and can’t find the right setting for that.
The creator of an EA can do that because he/she knows the ins and outs of the EA but if you want to get the same results like theirs, you should be aware of what they know which means receiving good support from the creator of an EA.
When I was reviewing the different aspects of Auto news trader, I noticed that the creator of this EA knows that these kinds of results are not something that you can rely on for long term too, so he withdrew a large portion of the account balance after two months.
All in all, Make sure to contact vendors several times and ask about the things such as settings, updates, and future supports that you get before purchasing any EAs.
Gaining profit is not the only thing that we should consider when it comes to the profit return but we should look at the consistency of the profit as well.
It means we should see whether the result of an account is just for a specific period or it’s distributed to every month. Sometimes, you see an account with 2 years of age but when you look at the monthly gain, you see that the EA has traded for a few months.
Auto news trader EA is not one of those forex robots and it had been trading on the account for almost every month.
However, the lot sizes that it traded were larger in the early stage of the account and it became smaller later, especially in the middle of the account’s age.
Drawdown is the next metric that I look into. It basically shows how risky an EA is and how much an EA is prone to lose before getting back to the profit path.
Normally below 30% is considered low risk.
Auto news trader has a very low drawdown. It’s only 6.9% which puts this EA on the very low-risk category.
At first, I thought it might have some kind of hidden drawdown because there are some methods that you can apply such as replenishing your account when your drawdown is getting larger in order to decrease it.
So I dug deeper and went through the closed trades in the statement of the EA but I didn’t find any tangible deposits that had been made for lowering drawdown.
As a result, the drawdown is as low as 6.9% and it’s legit.
Floating P/L (Equity Drawdown)
Drawdown is calculated when the trades are closed so there might be lots of open trades that are suffering loss deeply which makes an EA risky, but you see a very low drawdown on the stats.
Fortunately, we can find that out from floating P/L (profit/loss), current drawdown, equity VS balance, and metrics like that — the names vary in different stat services.
I checked this item for the Auto news trader on its FXblue stats and it hadn’t had any floating loss. It’s better to say any noticeable floating loss because this metric is calculated approximately on Fxblue so there might have been a few percentages that were ignored.
Auto News Trader Price
This EA is sold in two ways, yearly plan and life time.
In the yearly plan, you pay $197 and can run the EA for one year while if you pay a one-time fee of $397, you’ll have access to that without any time limitation.
It also has a 30-day money back guarantee in case you are not satisfied with your purchase.
The Bottom Line
In this review of Auto news trader, we put stress on the analysis of a live account on Fxblue that this EA ran on to see how profitable and reliable it is.
I didn’t see any manipulation in results or tampering the stats of the EA, however, there’s another account on the webpage of this EA that was removed from myfxbook so I couldn’t look into and review that as well.
I personally prefer myfxbook results because that site has a two-step verification account that makes the results more reliable and intact to a great extent.
All in all, since there’s no attempt of manipulation in the results of Auto news trader, I consider the results genuine.
And according to that result, you can make profits running Auto news trader EA on your accounts but make sure to know the EA well by reading this review and asking the developer to make you more familiar with the different angles of the EA regarding what we’ve seen in this review.
And also ask for the best setting and the future updates.