SpaceX Trader Pro EA Review – A Detailed Analysis of This Automated Trading System
The realm of forex trading continues to attract traders from all walks of life who are looking to capitalize on the opportunities this vast market presents. However, trading currencies profitably requires deep knowledge, skills, time and effort. This is where automated trading systems like SpaceX Trader Pro EA come into play.
Overview of SpaceX Trader Pro EA
The SpaceX Trader Pro EA is an expert advisor designed to trade the forex market automatically on behalf of users. As per the vendor’s website, this EA utilizes advanced algorithms and does not use high-risk strategies like martingale or grid trading.
The developers claim that EA can deliver consistent daily profits with maximum drawdowns limited to 2% in backtests. It aims to help traders overcome risks while maximizing profit potential in forex trading.
Here are some of the main features of this EA as listed on the vendor’s site:
- Fully Automated – No manual intervention needed as all trades are executed automatically
- Multiple Timeframes – Can be used on multiple timeframes for greater flexibility
- Multiple Currency Pairs – Designed to trade various currency pairs like EUR/USD
- Money Management – Incorporates sound risk and money management principles
- No Martingale – Does not use martingale, grid or other risky strategies
- Easy To Use – Simple and intuitive interface for ease of use
- MetaTrader 4 – Compatible with the popular MT4 trading platform
Additionally, SpaceX Trader Pro also offers features like automatic take profit and stop loss levels, trailing stops to lock in profits, and VIP access for bigger accounts.
The developers have published SpaceX Trader Pro EA’s backtest results across different currency pairs and time periods.
For instance, on the EUR/USD pair, it was able to produce over 16,000% compounded returns within 5 months in 2020-2021 as per the data on their sales page.
There is also a Myfxbook verification that shows a 7% monthly return on a live $5000 account over the past 6 months. However, the track record is still quite limited at this point.
It’s worth noting that the vendor does not provide any long-term account statements to verify the EA’s profitability. So traders should exercise caution when evaluating the performance claims.
Using SpaceX Trader Pro EA in Forex Trading
The SpaceX Trader Pro EA is designed to be simple to set up and use for all skill levels. Once installed on the MT4 platform, traders only need to input their account details and turn on automated trading.
The developers recommend using it on the EUR/USD, GBP/USD and EUR/GBP currency pairs on the 1-minute timeframe. For best results, they suggest keeping the EA continuously running on a Virtual Private Server (VPS).
The minimum capital required is only $1000 as per the vendor website and. So SpaceX Trader Pro EA is accessible even for traders with small accounts.
Here are some of the main advantages of using the SpaceX Trader Pro automated trading system:
- Fully Automated – Hands-free after initial setup allowing for passive income
- Profit Potential – Backtests and some live results indicate strong profitability
- Risk Controls – Incorporates stop losses and other risk management features
- Affordable – Available for just $14 as per one website
- MT4 Compatible – Suits all MetaTrader 4 brokers and account types
- Beginner Friendly – Easy to install and use even for new traders
However, there are also some downsides to consider before purchasing the SpaceX Trader Pro EA:
- No Long-Term Verification – Lack of account statements showing profitable long-term live results
- Limited Information – Scant details available on the developers and system logic
- Overoptimization – Potential for overoptimized backtest results vs live trading
- Monitoring Needed – Still requires supervision and human intervention
- No Guarantees – Does not offer guaranteed profitability
So traders should adjust their expectations accordingly and use proper risk management.
SpaceX Trader Pro EA undoubtedly shows potential for being a profitable automated trading system based on the backtest statistics published so far. It offers an easy way for traders to leverage forex trading without doing all the heavy lifting or being stuck to the screens for hours.
However, there is still limited proof when it comes to verified long-term live results. Traders should be wary of taking the advertised profitability figures at face value without seeing any independently verified performance reports.
Overall, the SpaceX Trader Pro EA MT4 presents itself as a professional and effective tool for any trader looking to optimize their forex trading strategy with automated executions, risk management and passive income potential. But conducting further due diligence is highly advisable before committing real capital.