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Expert Advisors Reviews

Ascent Expert Advisor: A Breakout Bot in Trouble

Today we'll be exploring the Ascent expert advisor (EA), with the main reason behind the review being that we haven't checked out the fortunes of a breakout bot for quite some time. Given the claims of a fellow trader that any trend-hunters are having hard time now, we had expected that this EA would also have tough time now, as breakout bots perform well in trending markets and suffer in non-trending ones. Unfortunately our expectations turned out correct and the robot is struggling at this point. Still, for those interested in non-gambling strategies which use such traditional approaches it would be interesting to take a deeper look at this piece of software. 

 

 

Strategy: On the lookout for breakouts

 

As we've already explained in our review of the Quant Strategy EA, breakouts are the points in which the price breaks through a support or resistance level. The robot usually opens a long position when the price breaks above the resistance level and opens a short position after the price moves below support. 

 

The risky part about Ascent's strategy is that it opens numerous positions in a row (usually using intervals of fifteen minutes), so if the trend goes into the so-called retest, the loss is severe. And indeed, the last strings of losses experienced by Ascent and Quant Strategy are due to retests. 

 

Regarding currency pairs, the EA is tested with the EUR/USD, GBP/USD and the USD/JPY, using micro lots (0.01 of the standard lot). 

 

 

Performance: Humble Profits, Low Drawdown

 

For the sake of our review we'll be using the EUR/USD account on which the robot has been working since August 2, 2013, which gives us about six months of trading activity. The performance of this account has been the strongest amid all accounts to which Ascent has been applied.

 

Photo credit: Myfxbook.

 

The gain currently amounts to modest 14%, which will perhaps be a problem for those willing to risk more and get more. But this robot is not that aggressive, which can also be seen in the small relative drawdown, it's at less than 6%. The reading is quite good actually and indicates low risks of destroying an account. Still, the series of losses lately are rather disturbing.

 

The return-to-drawdown ratio is also rather humble at 2.3 – it's slightly below the 2.5 reading that we recommend and shows too negligible returns in exchange for one's investments. 

 

The average pips per trade are at 5.2, which is not the best reading we've seen, but given the currency pair used this means that spreads and slippage will hardly harm the profit generated. The system is stable enough to survive any periods of sudden market changes – that's of course if the EA does not open too many trades simultaneously.

 

Last, but not least, let's note that the account with the EUR/USD has not seen any new open positions for a week, after a string of losses. Hopefully, this is not the end of trading on this account. The GBP/USD account has had harder time lately but is still active – may be the robot has yet to detect the necessary signal.

 

Verdict and Pricing

 

Well, obviously the Ascent EA is not enjoying its strongest moment: still, the drawdown is kept at a low level and traders who are patient may get some acceptable returns in a year or two. In case you decide to give this EA a shot, you can purchase it from the designated website for the lump sum of $279. Choice is yours!

 
TAGS: ascent  ascent expert advisor  ascent review  ascent ea  forex robot  ea  ea review  automated forex trading  forex trading  mt4 robot  breakout  drawdown  trend  gbpusd  eurusd  real account  myfxbook 
Broker Country Regulation Platform Min Deposit Review
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cTrader
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Station,
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UK FCA MT4, Web, MT4
for Mac
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