Friday Pro EA Review: A Deep Dive into the Ultimate Weekend Trading Expert Advisor
Friday Pro EA is marketed as the “ultimate Expert Advisor designed to help traders unlock the full potential of weekend markets.” Unlike traditional methods that often rely on risky strategies such as martingale, grid, or scalping, Friday Pro takes a different approach. It claims to leverage the wisdom of institutional floor traders to provide precise and consistent results.
In this comprehensive review, we will delve into the key aspects of Friday Pro EA, including its features, trading strategy, performance statistics, pros and cons, and more.
Overview of Friday Pro EA
Friday Pro EA is a MetaTrader 4 Expert Advisor that specializes in automated trading over the weekend. It is available for purchase on the MQL5 marketplace starting at an introductory price of $259, after which the price increases to $799.
Key Features:
- Set and forget strategy optimized for weekend trading
- Does not use risky martingale or grid techniques
- Emphasizes intelligent risk management for capital security
- Can be used with fixed trading lot sizes or dynamic lot sizes based on account percentage
- Best installed on the 1 minute (M1) chart
- Makes one trade per week per currency pair
Trading Approach
Unlike many Expert Advisors that rely on questionable methods like martingale and grid strategies, Friday Pro EA takes a more measured approach to trading. It avoids such risky techniques and instead focuses on logical entry and exit rules guided by the wisdom of professional floor traders.
This results in a strategy that prioritizes capital preservation through prudent position sizing and stop loss placement. Trades are made deliberately once per week, compounding gains in a steady, structured manner compared to more frenetic EAs.
Detailed Capabilities and Settings
Now let’s explore Friday Pro EA’s features and customization options in more depth:
Timeframe: The EA is designed to run on the 1 minute (M1) timeframe, which provides the necessary granularity to pinpoint entries and exits.
Currency Pairs: The default usage is optimized for USDJPY, with profit targets and stop loss limits preset to 190 pips. For GBPJPY, profit targets can be set to 160 pips and stop loss to 90 pips.
Trading Frequency: It places one trade per week per currency pair. This results in limited but highly precise trading activity.
Trade Sizing: You have the flexibility to use either a fixed lot size or a dynamic lot size based on a percentage of account equity. This caters to both fixed fractional risk and variable position sizing preferences.
Risk Management: One of Friday Pro EA’s biggest selling points is its robust risk management. It completely avoids martingale and grid techniques. Instead, it uses intelligent stop losses on every trade to protect capital.
Comprehensive Backtest Results
Friday Pro EA provides limited backtest reports on the MQL5 sales page. However, third party backtesting provides more extensive data on the EA’s historical performance.
USDJPY Backtest (2.5 years): Starting balance: $10,000 Ending balance: $14.8 million.
GBPJPY Backtest (2.5 years): Starting balance: $10,000
Ending balance: $8.9 million.
These backtests demonstrate substantial profit potential in live market conditions over multiple years. However, past performance does not guarantee future results and real-world trading may have lower returns due to slippage, spreads, and latency.
The Pros and Cons of Friday Pro EA
Pros:
- Does not use risky martingale or grid techniques
- Emphasizes intelligent risk management leading to smoother equity curves
- Provides hassle-free weekend trading with a set and forget strategy
- Trades far less frequently than other EAs, resulting in less interference
- Backtest over multiple years shows strong risk-adjusted returns
Cons:
- Limited trading frequency means less trading opportunities per week
- Only trades on weekends so no trades for 5 days per week
- Historical backtests may overstate live performance potential
So in summary, Friday Pro EA distinguishes itself with a common sense approach to trading by avoiding reckless strategies in favor of an intelligent system with prudent risk controls. For traders specifically seeking a weekend trading solution, it presents an intriguing option. However, the limited trading frequency and lack of trades for most of the week may deter more active traders.
Final Verdict
Friday Pro EA offers an interesting alternative for traders interested in weekend trading without resorting to hazardous methods like martingale or grid systems. Its measured approach shows promise in backtesting. However, real-world live results may vary. The EA is reasonably priced at $259, but keep in mind the final price increases to $799.
Overall, for traders seeking a set and forget Expert Advisor explicitly for weekend trading, Friday Pro EA warrants consideration. But expectations should be tempered, and position sizing should remain prudent. As with any EA, conduct extensive backtesting before using real capital.
