Miner Parafly is an Expert Advisor that was created by the programmer Yip Sin Hang. It was launched on the mql5 website in August of 2018 and most previously updated to version 7.3 in June of 2019.
Overview
Miner Parafly is an automated trading robot that uses scalping, pending trailing, trailing stop, individual breakeven SL, Multi-pair TP, the SL level of the account equity, daily swap profit, profit, and SL auto calculation, and a few other strategies. It works with 18 outlined currency pairs and multiple timeframes on the popular MetaTrader 4 trading platform. Parameters allow traders to set the maximum lot size, auto lot size by account equity, stop loss by account equity, and the magic number.
The indicator also avoids risky techniques, such as Martingale, grid, hedge, etc. and avoids inflated spreads around holidays. It is recommended to use an ECN/Standard broker with a low spread. Islamic accounts cannot be used with this advisor.
Service Cost
The developer does not provide traders with any low-cost options – this EA cannot be purchased, it can only be rented at a rate of $499 USD per year, and this only comes with 5 activations. Yip Sin Hang also asks traders not to believe in backtest results, so the price and lack of demo testing seem to be the main disadvantages associated with the product.
Conclusion
Miner Parafly is a fully automated EA that trades using several different strategies, with some safety guidelines that avoid historically risky techniques such as Martingale and others, along with high spreads. This product has received a 4-star rating, along with a few comments:
“The EA is very Safe. Support from the author is always very fast and very nice, he strives to help us where he can. From me 5 Stars. Exactly what I need.” -Riza
“It’s a slow-motion EA. Good to avoid any heart-attack, even better for meditation about trading. I like it.” -Markus
The biggest drawbacks come in the form of price and testing issues, and it seems that this EA does profit slowly, so it may take a while for the EA to pay for itself at its current $500 yearly renting rate. It isn’t for everyone, those with a low starting investment or Islamic traders will want to avoid it altogether. Overall, this EA does seem to be a good investment in the long-run for the targeted traders that have the time and money to invest.
This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/31224
