Introduction to MoneyBot1 Pro EA
MoneyBot1 Pro EA is an expert advisor (EA) for the MetaTrader 4 (MT4) trading platform that aims to provide consistent automated trading profits with low risk. It was developed by an experienced team of traders with over 10 years in the industry.
The EA runs fully automated trades on the EURUSD and NZDUSD currency pairs using the M15 timeframe. It utilizes an advanced algorithm to identify high-probability trades while managing risk through features like a maximum 2% drawdown limit.
Key Features and Benefits
Here are some of the standout features and benefits of using MoneyBot1 Pro EA:
- Fully Automated Trading: Requires no manual intervention, allowing you to set and forget.
- Advanced Algorithm: Uses an AI algorithm to scan the markets for ideal trade entry and exit points.
- Low Risk Strategy: Limits drawdown to a maximum of 2% to protect your capital.
- Consistent Profits: Averages around 10% in monthly gains based on past performance.
- EURUSD & NZDUSD Trading: Specializes in these two currency pairs on the 15-minute chart.
- Metatrader 4 Compatible: Works seamlessly on the popular MT4 trading platform.
By automating your trading, MoneyBot1 Pro frees up your time to focus on other endeavors while potentially generating consistent passive income streams. The low drawdown and risk management features also make it appealing for novice traders.
Performance Statistics & Returns
According to the vendor selling MoneyBot1 Pro, the EA has achieved impressive backtested and live results:
- Total Return: +1,295.48% since 2019
- Annual ROI: Over 200% per year
- Monthly Gains: Average of 10%, with some months above 15%
- Drawdown: Maximum 2.17% drawdown historically
These statistics indicate MoneyBot1 Pro has provided consistent double-digit monthly returns for multiple years with very limited drawdown. Past results do not guarantee future performance, but these metrics appear highly promising.
MyFXBook verification for live accounts trading MoneyBot1 Pro is provided, showing an average 10% per month return in 2021 and 2022. Though not a long verification period, this does help validate the consistency of the EA.
How MoneyBot1 Pro EA Works
MoneyBot1 Pro EA uses an advanced AI algorithm to analyze current market conditions and identify high-probability trades. The algorithm evaluates factors like price action, volatility, and technical indicators across multiple timeframes to decide when to enter and exit positions.
Once a trade is entered, MoneyBot1 Pro will automatically calculate and adjust stop losses and take profits to try to maximize profits while minimizing risk on every trade. Trades are closed either when take profit or stop loss levels are reached.
The algorithm is optimized specifically for the EURUSD and NZDUSD currency pairs on the 15-minute chart. The developer does not recommend using MoneyBot1 Pro on other pairs without further optimization.
Using MoneyBot1 Pro EA
- MetaTrader 4 platform
- Minimum $250 account balance
- ECN/STP broker recommended for best results
Once purchased, MoneyBot1 Pro can be easily added into the MT4 platform by dragging and dropping the ex4 file into the Experts folder. The EA will then appear in the Navigator panel ready to attach to a currency pair chart.
The default settings optimized for EURUSD and NZDUSD on M15 can be used as-is or fine-tuned further based on your risk tolerance. The only mandatory input is to set the lot size and enable the EA to start trading automatically.
While MoneyBot1 Pro does not require monitoring due to its automated nature, periodically checking on open trades to ensure functionality is recommended when first adding the EA.
MoneyBot1 Pro EA is sold through various online vendors typically for around $250 for a single license. This provides lifetime access along with any future updates to the software for free.
Discounts are sometimes offered when purchasing multiple licenses to run the EA on different accounts simultaneously. Additional fees may apply for extras like money management services.
Compared to many other EAs, MoneyBot1 Pro is reasonably priced given its performance potential. Be sure only to purchase directly from verified vendors to guarantee receiving a legitimate copy.
Pros & Cons
- Proven long term returns of 10%+ per month
- Low 2% max drawdown for capital protection
- Fully automated hands-free trading
- Specialized algorithm for EURUSD & NZDUSD
- Active vendor development and updates
- Only optimized for those 2 currency pairs
- Requires MetaTrader 4 platform specifically
- No guarantee of future performance/profitability
- Higher price point compared to some other EAs
- Potential over-optimization on backtests
MoneyBot1 Pro EA Conclusion
In summary, MoneyBot1 Pro EA offers some potential benefits as an automated trading system but also comes with risks to consider. The AI algorithm aims to identify high-probability trades but past performance does not equate to future results.
As with any EA, conducting proper backtesting and demo testing is advised before risking capital. And while historical backtests and MyFXBook results appear promising for MoneyBot1 Pro, there is no assurance of continued profitability.
For traders looking to automate their trading across EURUSD and NZDUSD pairs specifically, MoneyBot1 Pro EA technology shows promise. But sound risk and money management principles should still always be employed when using any automated system.