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Forex

Expert Advisors Reviews

Alpha Expert Advisor: Speedy, Profitable, Unstable

Today we'll be reviewing the Alpha expert advisor (EA), a Forex robot whose developers are very secretive about the strategy and performance of their creation. Still, we've decided to take a look at it as it managed to deliver some substantial profits in a short period of time. 

 
In our brief review, we'll be using a real account on Myfxbook where the robot has been active since September 11, 2013. This gives us about six months of data or at least what's left of the data after the developers of the robot have hidden most of it with the vindication “Commercial secret”. We cannot see the history of trades, all of the numbers converted in money, the balance and the profit. Even the backtests (yes, they are beautiful) hide the history of trades and the parameters of the settings. 
 
And yet, some remarks may be made. For starters, we should note that the robot trades solely with the EUR/USD and GBP/USD pairs during the entire week and throughout the day. The developers admit that the settings of the EA on the account we are exploring are very aggressive and as we have little data we may wonder of what this aggressiveness consists. Well, take a look at the photo below.
 
Photo credit: Myfxbook.
 
You can see that the bulk of trades are of very short duration – we are talking of less than a minute and even of less than 10 seconds. I would not go as far as to guess that this is a robot that uses an arbitrage strategy but I would suppose that we see a scalping robot. If that's the case I don't think that the developers had that much to hide. Scalpers simply require a careful choice of a broker. Still, the Alpha EA appears to be an impulsive scalper – amid the most aggressive ones, given the trade duration.
 
This is also underlined by the sensitivity of the trading system, as measured by the average pips per trade. As you know, especially when it comes to trading with majors, we recommend that the reading stands at more than 5 pips. In the case of Alpha EA, however, the result is at meager 1.5, which means that the robot is very sensitive to spreads and slippage, that is to broker choice. Moreover, this result shows that the EA would hardly survive sudden market changes. 
 
On the brighter side, the gain result is very robust at 286% - this is an extraordinarily high result for a period of about half a year. The growth chart is also nice.
 
Photo credit: Myfxbook.
 
The drawdown level is acceptable at 28% - hopefully it does not breach this level in the future, despite the aggressive settings. The resulting return-to-drawdown ratio is at 10.2, which is a very good reading – showing some substantial returns are in store in exchange for the amount invested.
 
The robot is obviously for those traders that are ready to risk and that do not care much about the underlying strategy remaining unknown. The performance in terms of profit and drawdown is good, if we exclude the sensitivity of the system.
 
In case you want to buy the robot and inquire the developers, check out the designated website. The EA costs $325 (that's a lump sum) – or at least that's the amount due for one demo and one real account, with free updates of the robot included in the price. Choice is yours!
 
 
Any opinions and statements in this article are strictly subjective and should not be treated as investment advice. Forexbrokerz.com and all of its authors are not affiliates of any of the discussed signal providers, expert advisors and their vendors.
TAGS: alpha ea  alpha expert advisor  alpha ea review  forex robot  forex trading  automated trading  automated systems  trading systems  forex software  scalper  aggressive trading  average pips per trade  profits  pips  drawdown 
Forex
Broker Country Regulation Platform Min Deposit Review
Cyprus CySec MT4, MT5, Web $5 Review Website
Cyprus, Australia CySec, ASIC MT4, Web $100 Review Website
UK, Cyprus, Hong Kong FCA, CySEC, SFC MT4, Web,
PrimeTrader
$100 Review Website
UK, Cyprus FCA, CySec MT4, MT5 $5 Review Website
UK, Australia FCA, ASIC MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Australia, Singapore FCA, ASIC, MAS, BaFin MT4, Web,
ProRealTime,
2Dealer
$0 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus CySec MT4, Web, Gwasy $100 Review Website
Belize IFSC MT4, MT5, Web $1 Review Website
Cyprus CySEC in-house mobile
app
$50 Review Website
Seychelles FinaCom MT4, Web $10 Review Website

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