It is always tricky to choose when to review a Myfxbook strategy. If you try to make the hipster review there is not enough data to reflect on. If you wait several years the system performance may be at his sunset. KeltnerPRO – Jared is a relatively newbie with only six months of trading history. Its performance, however, demands attention.
For starters the system is fully automatic although this is not stated on its Myfxbook page. The broker used is Synergy FX
. Nothing spectacular or wrong with this choice given that Synergy is regulated by the respective Australian authority (ASIC). Leverage used is 100:1 and the bot is running on MT4.
The profitability of the system in the last six months is incredible – 1188%. In other words the starting deposit was $6000 and now the balance reads as $77k. The average profit in pips stands at the decent 14 pips per trade – enough to survive normal market conditions changes.
The bot script does not execute many trades with 173 registered in the last six months. Interestingly, it trades only five currency pairs: NZD/USD, GBP/USD, AUD/USD, USD/CHF, and EUR/USD.
It is noteworthy that the monthly gain in March is 246% but in the next months there is no such stellar performances (24% in June, 13% in July). On average the system is using an order volume of 3 standard lots per trade.
KeltnerPRO – Jared system drawdown is 30% due to its March stellar performance. In the next months the drawdown is less than 6% indicating that the system was probably fine-tuned. According to the system creator the stop loss is usually half of the take profit. Sound risk management.
Careful examination of the system's trading patterns indicates that KeltnerPRO - Jared is a breakout strategy capitalizing on increased market volatility by opening trades in the current market direction. Therefore, the positions are tightly grouped together with periods of inactivity between them. Usually all open positions are closed simultaneously.
So far, so good. Looks promising, right? Still, don't rush to buy the system yet.
It is priced by its creator Jared Rybeck at $499. You can pay also $199 a month for three months. The purchase can be made via Jared's website keltner-pro.com and here the bad news starts. The site looks really bad. We are not to use the word scam for it but many do. Why so? Because the information on the website is frivolous to say the least.
We read first for some incredible profits achieved with the system achieved “overnight” by Jared's friend Adam (though verified with Myfxbook data). It continues with the heartbreaking life story of Jared who has lost his rather young father from Parkinson disease while his mother was diagnosed with an Alzheimer disease shortly after.
That vein of storytelling goes on and on with Jared diagnosed with diabetes due to stress and so on, and so forth until the day he “made his breakthrough at 3.14 AM on a Thursday”. No irony intended with the citation.
We better skip most of the rest. There is money back guarantee alongside with a “mind boggling profit guarantee”. Only 400 copies of the system will be sold and the first 200 of them are offered at 50% off – from $997 to $499.
The KeltnerPRO - Jared system seems to be safe and profitable. Maybe it holds a great potential with just the marketing strategy formulated badly. Unfortunately, for now there are not enough people running the bot and sharing their experience to draw any firm evidence based conclusions. Still Keltnerpro - Jared is a system to watch closely.