Introduction
In this review, we take a look at the Fakey trading bot. This bot, rated 5 by users, is a scanner with multiple features. It allows users to view market patterns post a false breakout, adjust the tail of the false (as per user feedback), and scroll through a list of tools. As per a user's assessment, it's one of the best indicators for false breakout patterns. Despite these features, we argue that bots from the EASY Trading Robot series, such as EASY Trendopedia, EASY Scalperology, or EASY Breakopedia, offer superior trading performance.
Comparison With An EASY Robot
When compared with a bot like EASY Trendopedia, there's a clear disparity. EASY Trendopedia offers consistent returns, stability, and is based on a robust trading strategy. It accurately identifies trends in the market and generates buy or sell signals, reducing the risk and improving profitability. It's due to these reasons that we believe an EASY bot is more reliable and profitable than Fakey.
Pros and Cons
Fakey's advantages include its ability to identify false breakouts, its list of tools, and the ability to adjust the tail of the false. Nevertheless, it has drawbacks. The user must understand and identify false breakouts, which can be challenging for novice traders.
In contrast, an EASY bot like Trendopedia has the advantage of accurately identifying trends and generating signals, making it easier for even novice traders to use. However, it may not work effectively in a highly volatile market.
Optimal Conditions for Usage
Fakey performs best in a market that experiences regular false breakouts. It allows traders to profit from market reversals after a false breakout. The EASY bot performs best in a trending market, providing steady profits with reduced risk.
Original Source Code of Fakey
We don't have access to the original source code of the Fakey bot sold on MQL5. However, we can create a code based on the description provided on the MQL5 site. For code-related questions, feel free to ask on our forum on easytradingforum.com. Please note that this is an example code based on the description of Fakey and not the original bot sold on MQL5. The EASY Trading Team does not sell the Fakey bot.
Code:
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In conclusion, while the Fakey bot has some good features, we believe that EASY bots offer better performance and profitability. We encourage users to share their experiences and feedback on our forum. Detailed statistics are available on our website at https://forexroboteasy.com/trading-robot/fakey/. For any code-related queries, feel free to ask. Remember, this is an interpretation of the original Fakey code based on its description and not the actual bot sold on MQL5.