Introduction
Ah, the Super Trend by iBossTrader MT5 – another trading robot claiming to be the Holy Grail of trading. Given that it has no reviews and no rating formed on MQL5, skepticism is the name of the game. Let's see if the Super Trend lives up to its name or if it's just another overhyped piece of code. We'll delve into its features, analyze its performance over the past year, and dissect its strengths and weaknesses.Description of Features
The Super Trend by iBossTrader MT5 claims to have the following features (how revolutionary, right?):- Automated trading with the Super Trend indicator as the core signal generator.
- Customizable settings for risk management, including stop loss and take profit levels.
- Built-in money management functionality.
- Compatible with multiple symbol trading.
- Fully automated order execution and management.
- User-friendly interface for parameter adjustment.
Sounds fancy, doesn't it? Let's not get too carried away just yet.
Performance Analysis Over the Last Year
For a trading robot that's supposed to be super, you'd expect some stellar results, right? Based on the detailed performance statistics available on the website:- Average monthly return: 5-10% (when the stars align).
- Max drawdown: 20% (ouch).
- Win rate: 60% (flipping a coin, anyone?).
- Number of trades per month: 15-25 (because who needs volume?).
In summary, the results are lukewarm at best. It's not losing money like a sieve, but it's not making you a millionaire either.
Pros and Cons
Let's break down the good, the bad, and the ugly.Pros:
- Automated trading removes the emotional element.
- Customizable risk management settings.
- User-friendly interface (apparently).
- Compatible with multiple symbols.
Cons:
- No reviews or ratings - a red flag, if you ask me.
- Average returns with a relatively high drawdown.
- Limited trade volume - don't expect high turnover.
- Dependent on the Super Trend indicator, which isn't foolproof.
Conclusion
So, is the Super Trend by iBossTrader MT5 the next big thing? Hardly. It has some features that might appeal to novice traders, but the lack of reviews and average performance are significant drawbacks. If you're feeling adventurous, give it a go, but don't expect miracles.Source Code of Super Trend by iBossTrader MT5
We don't have access to the original source code of the Super Trend by iBossTrader MT5. However, if you're into DIY, you can create a similar trading robot based on the description provided on the MQL5 marketplace. Remember, a well-documented robot description can be reverse-engineered to create a functional trading bot.
Code:
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