Trade Professor is a new Expert Advisor made by an amateur developer who published it on the MQL5 market. The initial version was released on the 16th of March 2020 and does not have any updates yet. A developer is a young man from Nigeria by the name of David Joseph who has a total of 7 products published on the market. None of the EAs have a single review or any comments.
There are several reasons for this, the main one is unconfirmed results, canceled signals, and no details about the EA strategy. By looking at the developer’s comments we are not sure anyone can take him seriously. Trade Professor is an ambiguous EA for MetaTrader 4 with an extremely high price tag. There are no elements that could justify the price and certainly no valid results.
The Overview page has very little content and just 2 screenshots which do not have important information. Professor EA is specialized for GBP/JPY, GBP/USD, USD/JPY, and EUR/JPY currency pairs and on M5 timeframe. There are other requirements as stated by the developer such as the recommended minimum starting balance of $1000. The volatility is the main factor when it comes down to the initial balance. This is probably due to the extreme drawdown which is not disclosed on any test.
Whatsmore, it is recommended to increase the balance if market conditions turn volatile, such as during the COVID-19 event. This EA has Stop Loss implemented called Account Protect Level in the settings panel and is a fixed type. Interestingly, the developer warns if this level is too shallow, the EA will give unsatisfactory results. Again, it is hard to assess the relation of risk to gains without the drawdown figure. Notably, the EA performed poorly once the COVID-19 outbreak started to affect the markets, according to the developer posts, and the signal generated by this EA is shut down.
The settings panes contain only 4 customizable variables. Some may be confused with the EquityLevel parameter, but this is just a figure where you put your target profit. It does not have any effect on how the EA is trading, it is just a point after the EA will not open new trades. We are not sure if this is just a gimmick sloppily made by the developer or it could have any use. There are two more unexplained parameters called Take Low Trades and Take Low Lots. These are probably related to trade size allocation and the frequency of trade entries although the only options are true and false switches.
The price tag is as ridiculous as the EA presentation, $3200 to purchase, and 4 rental options. For one month you would need $150, for 3 $500, for 6 $750 and one year $1500. A demo is offered if you want to play with this one for any reason, it has been downloaded 17 times.
The screenshot with the backtesting performance in MT4 shows a constant growth without any figures. We can only see it is done on the GBP/JPY on the M5 timeframe. There are no dips that may be contributed to high-risk allowance, however, the testing is conducted for a very short period. Only 45 bars were tested, when converted it means for only 225 minutes, which is abysmal. There are no comments or reviews and probably will not be as the product nor the price is to be taken seriously.
This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/47222