Introduction to Epignosis Black Mamba OS Edition EA
Epignosis Black Mamba OS Edition EA is an automated forex trading robot that runs on the popular MetaTrader 4 and MetaTrader 5 trading platforms. It was developed by the company Epignosis in collaboration with Caleb Phiri, a renowned forex and stock trader.
The expert advisor (EA) aims to automatically trade forex pairs profitably without any manual intervention. It uses sophisticated algorithms to analyze the markets, identify trading opportunities, and execute trades.
In this comprehensive review, we will cover the following key aspects of this forex robot:
Overview and Features
Epignosis Black Mamba OS Edition EA focuses on the following core capabilities:
- Fully Automated Trading: The EA places trades automatically based on its algorithms without requiring any manual inputs. This allows for convenient “set and forget” style trading.
- Real-Time Market Analysis: The robot makes trading decisions by continuously analyzing live price data, technical indicators, and patterns in real-time. This aims to identify profitable opportunities rapidly.
- Machine Learning Optimization: The algorithms powering the EA incorporate machine learning to improve performance over time by learning from market changes and past trades.
- Multiple Timeframe Analysis: The robot scans multiple timeframes from 1 minute all the way to 1 day to identify trading opportunities. This multi-timeframe approach aims to improve accuracy.
- Risk & Money Management: Customizable stop losses, take profits, and position sizing settings allow traders to define their risk tolerances. This automation aims to systematically manage risk.
Compatibility: The EA works seamlessly with MetaTrader 4 and MetaTrader 5 brokers, supporting ECN/STP, NDD, and standard accounts.
Ease of Use: Ready-made trading strategy templates allow quick setup along with default settings optimized for both novice and advanced traders.
How Epignosis Black Mamba EA Works
According to the vendor Epignosis, the Black Mamba OS Edition EA makes trading decisions based on a combination of strategies:
Technical Analysis: The algorithms analyze popular indicators like moving averages, RSI, stochastic along with chart patterns and trend direction analysis to forecast price momentum.
Fundamental Analysis: Complementing the technical factors, the EA also utilizes a machine learning model that processes news, economic data, and other events that impact forex prices.
Hybrid Intelligence: The robot combines technical indicators, chart patterns, and fundamental events with machine learning and statistical models to optimize trade entry and exit logic in real-time.
These analysis methods aim to determine high-probability trading opportunities across forex pairs and timeframes. The EA then automatically executes the trades without manual intervention.
As per Epignosis, the latest 2022 release has significantly enhanced machine learning capabilities to boost performance. The algorithms self-optimize based on changing liquidity and market conditions.
Performance Review and Returns
Claimed Accuracy: According to the vendor, Epignosis Black Mamba OS Edition EA can achieve between 60% to 85% accuracy on average across various forex pairs. However, traders need to assess real-world performance on their accounts before relying on marketed accuracy statistics.
Purported Profitability: The company claims that the robot can produce 30% to 80% returns annually by compounding gains from trades. However, past performance does not guarantee future outcomes.
Real User Reviews: Based on feedback from users posted on forex forums and review sites, when optimized for particular currency pairs and account types, Epignosis Black Mamba EA can be profitable. Many traders report consistent monthly gains in the 20% to 40% range after tweaking settings.
However, some users also highlight challenges in replicating vendor profit claims without optimization. The results vary widely across different brokers, account types, risk settings, and trading conditions.
Therefore, traders need to demo test the EA thoroughly across different scenarios before going live. Manual optimization is required by each user for their specific account environment to maximize performance.
Advantages of Epignosis Black Mamba OS Edition
Fully Automated Trading: The EA trades automatically without requiring manual analysis or intervention. This allows setting a “no-touch” approach.
Flexibility: Users can run the robot profitably across different brokers, account types, lot sizes, and risk settings when optimized properly.
Strategy Customization: Preset templates allow traders to select strategies tailored to their risk appetite from conservative to aggressive.
Machine Learning: Adaptability algorithms maximize performance as market dynamics evolve over time.
Ease of Use: Ready-made default settings make the EA quick to install and use for beginners.
MT4 & MT5 Compatible: Integrates seamlessly with two of the most popular retail trading platforms.
Disadvantages and Risks
Over-optimization: While flexibility can benefit skilled traders, improperly optimized settings cause overfitting which fails in live trading.
Potential Losses: Despite automation, losses can exceed deposits due to leverage if not calibrated carefully for the specific account.
Requires Regular Monitoring: The algorithms need to be tracked in real-time and optimized manually based on performance data.
Vendor Claims Misleading: Marketing accuracy and profitability statistics are often grossly exaggerated and do not match typical user experiences without precise customization.
Not a Magic Bullet: Like any EA, this is not a plug-and-play solution. Considerable manual testing and tweaking based on historical data are imperative for it to be effective on a live account.
Costs and Licensing Options
Epignosis Black Mamba OS Edition EA is available under the following purchasing options:
- Official Vendor Price: $799 for a single license that works on one live trading account plus free updates and tech support.
- Resold EA Versions: Available for around $300 to $500 on various forex websites and online stores. These are also single licenses.
- Cracked Copies: Illegal cracked copies are distributed on peer-to-peer networks and torrent sites. However, these versions often carry malware risks. Also, they do not provide updates, services, or support.
Recommendation: The official vendor license provides the maximum reliability, security, features, and services. While resold versions offer cost savings, cracked copies should be avoided due to potential scams, computer infection dangers, and lack of support.
Epignosis Black Mamba OS Edition EA Final Verdict
Epignosis Black Mamba OS Edition EA incorporates promising capabilities for automated forex trading. The algorithms blending technical, fundamental, and machine learning models have profit potential. However, traders need to put in the effort to test and optimize the EA properly for their specific accounts to realize consistent returns similar to the vendor’s claims. Like any EA, this robot carries risks if not calibrated carefully and monitored actively. It is also not a “set and forget” system. Regular adjustment is imperative based on performance data. Overall, under the right conditions and with discipline applied, Epignosis Black Mamba can be a worthwhile addition for skilled forex traders that desire the convenience of automation.