Advanced Parrot EA Review: A Game-Changing Forex Trading Tool
The Advanced Parrot EA is a revolutionary forex trading expert advisor that is taking the industry by storm. This powerful automated trading system leverages advanced algorithms and indicators to scan the markets, identify high-probability setups, and execute precision entries and exits automatically.
After carefully reviewing the Advanced Parrot EA, I can confidently say it is one of the most impressive forex robots I have tested. Keep reading for an in-depth analysis of its features, performance results, and overall value.
An Overview of the Advanced Parrot EA
The Advanced Parrot EA is the newest iteration of the popular Parrot series of forex EAs created by the expert team at Robomarket. It builds upon the proven scalping approach of the original Parrot Scalper EA but adds advanced enhancements to improve profitability.
Some of the standout features that set the Advanced Parrot EA apart include:
- Cutting-Edge Trading Logic: Combines trend analysis, breakout trading, and mean reversion techniques to adapt to changing market conditions.
- Sophisticated Money Management: Utilizes advanced algorithms to determine optimal stop losses, take profits, trailing stops, and automated lot sizing for accounts large and small.
- FTMO Specialized: Equipped with settings tailored for the FTMO challenge, enabling traders to efficiently scale funded accounts.
- Precision Performance: Boasts an impressive ~70% winning rate across over 11,000 backtested trades and real account monitoring with exceptional risk metrics.
The Advanced Parrot EA is an expert advisor suitable for both novice and experienced forex traders looking to execute a reliable scalping strategy. Its ease of use, limited configuration needs, and compatibility with all brokers and account types make it extremely beginner-friendly.
Meanwhile, its customization options empower advanced users to tweak settings to match their trading style. It can be deployed effectively on any timeframe or asset offered by MetaTrader 4 and MetaTrader 5 platforms.
Comprehensive Feature Review
Now, let’s explore the Advanced Parrot EA’s capabilities in more detail:
Sophisticated Trading Logic
The expert advisor’s trading logic represents a major upgrade over earlier versions. It combines three complementary trading techniques – trend following, breakouts, and mean reversion – to identify high-probability setups across different market conditions.
Several custom indicators developed by the Robomarket team work together to determine trend directionality. Trades are then executed when price diverges significantly from the trend, with entries made in expectation of a reversion to the mean.
This dynamic, multi-strategy approach allows the EA to adapt seamlessly to everything from ranging to strongly trending markets.
Intelligent Money Management
The Advanced Parrot EA is equipped with an advanced money management module that leverages algorithmic analysis to optimize trade parameters automatically.
Key features include:
- Dynamic Stop Losses: Stop losses are set intelligently based on recent price action rather than arbitrary fixed values. This enables tighter stops while allowing room for normal market volatility.
- Adaptive Take Profits: Take profit levels are adjusted continuously based on the trading account, current market conditions, and other dynamic variables. This maximizes profit potential.
- Auto Lot Sizing: Position sizing is handled automatically to remain proportional to the account balance. This ensures adequate leverage and risk management across accounts of all sizes.
- Built-In Risk Controls: Every trade utilizes stop losses and take profits to limit downside. No martingale, grid, or compounding techniques are employed, ensuring responsible trading.
Together, these advanced money management features create a holistic risk framework to preserve trading capital and extract maximum gains.
Specialized FTMO Profiles
The team at Robomarket leveraged their extensive experience with FTMO challenges to create optimized settings tailored specifically for funded accounts.
The FTMO profile configures the EA with more conservative parameters ideal for passing verification and meeting strict risk requirements. It trades predominantly EUR/USD and GBP/USD pairs while aiming to capture many small winners.
For traders pursuing FTMO funding, having a tool purpose-built to handle the challenge rules efficiently can make all the difference. The Advanced Parrot EA fills that need perfectly.
Performance & Backtest Results
Now, let’s analyze the real performance metrics and backtest data for the Advanced Parrot EA:
Exceptional Win Rate
Out of over 11,000 trades across a variety of currency pairs and timeframes, the Advanced Parrot EA scored an impressive win rate of ~70%. This level of accuracy gives traders a probabilistic edge.
The chart below illustrates the EA’s profitability over the past 3 years. Consistent, steady growth in account equity highlights the sustainability of its trading approach.
Advanced Parrot Equity Growth
Real account growth over multiple years – Image Source: Robomarket
Optimized Risk Metrics
In addition to raw profitability, the EA displays excellent risk metrics:
- Profit Factor: 2.31
- Expectancy: 0.36%
- Risk-Reward Ratio: 1:1.15
These figures indicate that each trade has a probabilistic edge, with the potential reward outweighing the risk. Over hundreds of trades, these margins compound into substantial profits.
Furthermore, the built-in loss protection mechanisms of stop losses and take profits ensure the EA minimizes losing streaks and drawdowns.
Verified Live Results
The reliability of backtests and demo accounts alone can be questionable. Thankfully, Robomarket provides verified real account tracking updated monthly to prove the EA’s mettle.
Here is a snapshot of its stellar performance in 2022 trading a live $2000 account:
- Net Profit: $1583
- Return on Investment: 79%
- Max Drawdown: $112
These real-world results demonstrate the Advanced Parrot EA’s consistency in actual market conditions. With the power of automation generating reliable profits month after month, traders can compound earnings exponentially.
Using the Advanced Parrot EA
Deploying the Advanced Parrot EA into your own trading is straightforward:
1. Purchase Access – Visit Robomarket to purchase a license for the lifetime use of the EA and any future updates.
2. Install MT4/MT5 – Ensure the MetaTrader platform is installed on your device or VPS hosting.
3. Load EA – Drag and drop the Advanced Parrot EA files directly into the MT platform to install.
4. Attach EA – Attach the EA to a chart of any symbol available on your brokerage.
5. Adjust Settings – Tweak settings like trade size and risk percentage to match account size.
And that’s it! The Advanced Parrot EA will now execute trades automatically based on opportunities it detects in the markets.
For best results, use a reputable ECN broker with tight spreads and quality order execution. Deploying the software on a virtual private server also helps avoid connectivity issues.
While the default settings are fully optimized, traders can further customize parameters to align perfectly with personal risk tolerance and profit goals.
Advanced Parrot EA Pros & Cons
Pros:
- Proven, multi-strategy trading logic
- Intelligent money management for risk control
- 70%+ win rate with solid risk metrics
- Specialized settings to pass FTMO evaluation
- Verified real account tracking
- Beginner-friendly yet fully customizable
Cons:
- Requires purchase from vendor
- Availability limited to MT4 and MT5 platforms
Considering the abundance of positives compared to very few downsides, the Advanced Parrot EA provides tremendous value.
Its balance of easy out-of-the-box setup paired with customization options makes it appealing to forex traders of all backgrounds. Novices can leverage its automated capabilities while experts can still mold it to their personal preferences.
Advanced Parrot EA Verdict
The Advanced Parrot EA is an exceptional forex trading tool that delivers consistent profits month after month. With its cutting-edge trading algorithms, robust risk management protocols, and time-saving automation, it provides an incredible advantage to traders.
After poring through countless expert advisors over the years, I can safely say the Advanced Parrot EA stands at the top of the pack. Its reliable performance persists through a variety of challenging market environments with an impressively smooth equity curve.
If you are looking to execute a solid scalping strategy or pass the FTMO challenge through automation, the EA is a fantastic choice. I highly recommend giving it a try with the abundance of evidence backing its profitability.
