Batman EA Review – A Powerful Forex Trading Robot

Table of Contents

Batman EA is an expert advisor for the MetaTrader 4 trading platform developed by Hieu Tran Van in 2015. It utilizes a breakout trading strategy based on the ZigZag indicator to identify potential trading opportunities. In this comprehensive review, we will analyze Batman EA’s features, performance, pricing, and ease of use to determine if it is a worthwhile investment for Forex traders.

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Overview and Features

Batman EA aims to capitalize on breakouts using a simple yet effective approach:

Only opens a maximum of 2 trades at once (1 buy and 1 sell) to avoid overexposure
Closes trades when the breakout fails and price reverses
No martingale, hedging or grid strategies – uses stop loss to control risk
Trades best on XAUUSD (Gold vs US Dollar) in the 1-hour timeframe

The EA allows easy configuration through its input parameters:

Trade direction, lot size and stop loss/take profit levels
Trailing stop loss to lock in profits
Filters to avoid trading during news events or high spreads

Automated breakout trading can be highly profitable if done correctly. Batman EA has the advantage of a straightforward strategy that does not attempt to overcomplicate things.

Backtesting Results

Extensive backtesting from 2015 to 2022 shows that Batman EA can produce steady profits over long periods. Here are some key statistics:

Total net profit over 8 years = $240,430
Average yearly profit = $30,053
Max drawdown = 2,102 (2.1% account loss)
Profit factor = 24.3 (high quality trades)

The chart shows consistent gains with low drawdown thanks to tight risk management. Batman EA excels in trending markets with low spreads and performs best on XAUUSD as configured.

Batman EA Backtest Results

Batman EA backtesting results from 2015 to 2022 on XAUUSD (click to enlarge)

Batman EA Live Performance

Live trading results are available through the MQL5 community website rather than the vendor’s own signal service.

One account shows $7,700 profit over 5 months with a 79% win rate. Performance is lower than backtests but remains consistently profitable with no major drawdowns.

As with any EA, live results can vary depending on broker choice, spreads, commissions, slippage and more. Be sure to demo test first.

Batman EA Pricing

Batman EA is sold through the MetaQuotes Language 5 (MQL5) marketplace in the MetaTrader platform.

Price: $150 License: Full version with unlimited activations

The one-time fee includes lifetime expert advisor updates and support from the developer. Additionally, renting Batman EA is possible for $50 per month.

Compared to the monthly subscription model used by most EA sellers, the unlimited activation at a fixed cost makes Batman EA good value for money.

Ease of Use

Batman EA works out of the box with minimal configuration:

Open a MetaTrader 4 or 5 account with a True ECN broker for tight spreads and fair execution.
Purchase and install Batman EA from the MQL5 Market.
Attach Batman EA to a XAUUSD chart in the 1-hour timeframe.
Input parameters like trade size and stop loss based on your risk tolerance.
Allow automated trading and monitor performance.

The simple breakout strategy means Batman EA does not have complex settings to tweak like other EAs. No VPS or additional tools are strictly required either.

Batman EA Verdict

Batman EA is a straightforward and reasonably priced Forex trading robot for taking advantage of breakouts in the Gold market.

Pros

Proven long term profitability in backtests
Transparent live results from users
Lower price than competing EAs
Easy to set up and use

Cons

Only trades XAUUSD, not flexible across pairs
No money management or trade filters
Developer has limited reputation

For traders looking for an automated way to trade Gold breakouts, Batman EA is a decent option with satisfactory performance metrics. As usual, use proper risk management and monitor results closely when live trading.