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Forex Trend Hunter Review

Forex Trend Hunter positions itself as an automated solution designed to capitalize on market trends. Its unique features, recovery system, and customization options cater to a diverse range of traders.
Forex Trend Hunter Review

Forex Trend Hunter Summary

In the fast-paced world of forex trading, automated systems have become integral tools for traders seeking efficiency and precision. One such contender in this realm is Forex Trend Hunter, a fully automated trading system that promises a straightforward setup and a focus on long-term trading strategies. In this comprehensive review, we will delve into the intricacies of Forex Trend Hunter, examining its trading strategy, key features, backtesting results, live performance, and considerations for traders.

Forex Trend Hunter Trading Strategy: The Quest for Trends

Forex Trend Hunter positions itself as a fully automated forex trading system that boasts a quick and easy setup, requiring just five minutes. Despite its categorization as a long-term trading system, the intriguing aspect lies in its utilization of the M15 charts, typically associated with shorter-term strategies. The core philosophy revolves around the age-old saying, “the trend is your friend,” emphasizing the capture of mid to long-term trades by aligning with the overall market direction.

Recovery System:

A notable feature of Forex Trend Hunter is its incorporation of a recovery system. In the face of adverse market movements, the EA will enter additional trades to capitalize on the market, regardless of its direction. While this approach can be effective in a range-bound market, caution is warranted. Multiple orders attempting to recover losses might lead to a saturation of trades against the trend, potentially defeating the purpose of a trend-trading robot.

Semi-Automated Mode:

While Forex Trend Hunter is designed to be fully automated, traders have the flexibility to switch to semi-automated mode. In this setting, the system sends alerts when it identifies a trading signal. Traders can then make the final decision on whether to enter the market or wait for the next opportunity. This feature provides users with a higher degree of control over their trading decisions.

External Settings Access:

Developers have made all the settings of Forex Trend Hunter externally available, allowing traders to customize parameters based on their preferences. While default settings are provided, customization empowers users to align the EA with their risk tolerance and trading style, catering to individual needs and preferences.

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Backtesting Capabilities:

Traders are encouraged to utilize the MT4 strategy tester to backtest Forex Trend Hunter across various currency pairs and chart timeframes. The goal is to identify optimal settings that match individual trading styles and goals. However, the backtesting information provided on the website has limitations, with a 90% modeling quality and a lack of real-world factors such as spreads, swaps, slippage, and commissions.

Forex Trend Hunter Back Testing: A Historical Perspective

While the website showcases 12-year backtests on EURJPY, GBPJPY, and EURUSD currency pairs, it’s essential to approach these results with caution. The absence of tick data, a modeling quality of 90%, and the exclusion of real-world factors make these backtests less reliable. The developer could enhance the credibility of these results by conducting tests with higher modeling quality using tools like Birts TDS in the MT4 strategy tester.

Potential Improvements:

To provide potential users with a clearer picture, it would be beneficial for the developer to conduct backtests with a modeling quality of 99% using tools like Birts TDS in the MT4 strategy tester. While past performance is not indicative of future results, comprehensive backtesting with realistic conditions can offer insights into the historical performance of Forex Trend Hunter.

Forex Trend Hunter Live Results: Real-world Performance Insights

To bolster transparency, the developer shares verified Myfxbook accounts displaying the latest Forex Trend Hunter results. These live results offer a glimpse into the EA’s performance under recent market conditions. While the results are not the worst seen in the industry, potential users should note that Forex Trend Hunter is not as active as high-frequency trading EAs, requiring patience as it waits for suitable trading opportunities.

Account Deletions:

It is worth noting that some of the Myfxbook accounts associated with Forex Trend Hunter have been deleted. While this could be attributed to poor performance, the exact reasons remain unclear. Traders should approach the available Myfxbook accounts with caution and consider the potential implications of deleted accounts.

Pros and Cons of Forex Trend Hunter

Pros:

  • Fully Automated: Forex Trend Hunter offers a fully automated trading experience, allowing traders to delegate the execution of trades to the algorithm.
  • Customization: External settings access enables traders to customize parameters based on individual preferences, enhancing flexibility.
  • Recovery System: The incorporation of a recovery system provides a unique approach to capitalizing on market movements, even in adverse conditions.
  • Semi-Automated Mode: Traders have the option to switch to semi-automated mode, receiving alerts and making the final decision on trade entries.

Cons:

  • Backtesting Limitations: The backtesting results provided on the website have limitations, including a modeling quality of 90%, absence of tick data, and exclusion of real-world factors.
  • Potential for Cluttered Trades: The recovery system, while beneficial in certain market conditions, may lead to a saturation of trades against the trend, potentially undermining the core strategy.
  • Deleted Myfxbook Accounts: Some associated Myfxbook accounts have been deleted, raising questions about the reasons and potential implications for users.

Conclusion

In conclusion, Forex Trend Hunter positions itself as an automated solution designed to capitalize on market trends. Its unique features, recovery system, and customization options cater to a diverse range of traders. Yet, as with any automated system, users are encouraged to conduct thorough testing, understand the limitations of historical data, and align the EA with their individual trading preferences.

While the recovery system introduces a novel approach to adverse market conditions, potential users should approach it with caution, considering the potential for cluttered trades against the trend. The ability to switch to semi-automated mode provides an additional layer of flexibility, allowing traders to retain control over their trading decisions.

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