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Expert Advisors Reviews

SFE Price Action EA Review - Is it scam or good forex system?

SFE Price action is one of the most expensive EAs in the MQL marketplace. As such it attracted our attention for a review. 

 

Strategy

 

The SFE Price Action trading robot is based on … surprise, surprise … price action trading. The particular trading algorithm is not public, of course, but from our review of the results it does seem price action based. 

 

In general, the system goes against breaks of certain support/resistance levels, hoping the breakout turns out to be false. If the move becomes more significant it re-enters, following the impulse. This may lead to having both a short and long trade open at the same time, but this is definitely not hedging, as used in some dangerous systems. After a position is entered, the initial stop-loss is moved to an almost break even level at some point in time.

 

Furthermore the system appears to be using trailing stops, locking in a portion of the profit, before the initial tareg is reached. This may be a viable strategy, but it has some drawbacks, especially when it comes to automated trading, as it may lead to cutting winners short of their full potential.

 

The system trades 15 instruments and uses 4 timeframes. They are all relatively short-term, with trades rarely being carried over to the next day. The average duration of a trade is 7h 12m. 

 

SFE Price Action will occasionally open multiple trades on the same signal. This has two implications: on one hand, the system is able to close them at different price points, effectively closing part of the position if a certain level is reached and letting the rest run. The second major implication of this fact is that, this can be done to manipulate the statistics slightly, by closing out a minor “part” of a position early. This may create slightly more winning trades, than are really present. 

 

Historical Performance

 

This is SFE Price Action’s myfxbook account, which is being traded since the August 2015 with IC Markets. The account track record used to not be verified (which, as you may know if you have been reading out other reviews, is one of the signs of a fake myfxbook account).

 

Update: We were contacted by the strategy's development team, who stated the account missing verification in the past was due to a change in the Investor Password of the MT4 account they use. At the time of this update, the verification is ok. That being said it may revert back to being not verified in the future. This situation should not worry you, at least when it comes to this system.

 

 

With all the deposits and withdrawals the exact gains per year may differ from the ones at myfxbook. The company’s own website (which is nor a trustworthy source) shows pretty similar results. The system had a really good string of results at the end of 2016, while it also had poor performance in the July – October period of the same year.

 

The average pips per trade value is 8.1*, which is really good. We usually do not recommend using (or following) a system where this parameter is under 3, with 5 being a solid line. For instance Voretx Trader Pro has 4.74 pips/trade, which is can be viewed as mediocre.

(* this system has traded in XAU/USD, which may make the average slightly inacurate)

 

When it comes to drawdown, the SFE Price Action peeks at 15%. This is amazing, when compared to other automated systems.

 

 

Pricing

 

The SFE Price Action is being sold on the MQL marketplace for the near-record $2000. This price point is pretty steep for most investors, as a lot of trading capital would be necessary to justify the purchase. The system can also be followed via the MQL signal functionality, where it is priced at $80 per month.

 

Bottom line

 

Our opinion on SFE Price Action is generally positive. I believe this boils down to the system’s edge i.e. the process by which it defines when to enter a position. When it comes to total returns, we see them as pretty reasonable, given the risk parameters. That being said, we find the myfxbook presentation to be lacking in some regards (mainly with the deposits/withdrawals). As for the pricing, it is definitely on the high end and you would require adequate capital in order to justify this purchase.

 

TAGS: sfe price action  sfe price action  sfe price action review  sfe price action scam 
Forex
Broker Country Regulation Platform Min Deposit Review
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Cyprus, Australia CySec, ASIC MT4, Web $100 Review Website
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