Entry Points Pro allows traders to gauge the market momentum and enter their trades in the same direction as the majority of participants. It works on all time frames. The product is available at the MQL 5 marketplace, where it can be tested on a demo account or purchased directly.
Is investing in Entry Points Pro a Good Decision?
To analyze the trading indicator and its outcome, we have studied its various aspects: transparency, trading results, etc. After doing some extensive research, we concluded that the algorithm is not a fit for beginner traders and is better suited to those with extensive market experience.
The robot is presented through the MQL 5 marketplace, where all the details are available on one page. The developer is Yury Orlov, who claims to be a trader at Chicago Mercantile Exchange. He resides in Spain and has more than six years of experience in the forex industry. However, we cannot trust this as we are unable to confirm the info provided. The author has also published Entry Points Pro for MT4 and MT5.
The indicator and the service come with the following main features:
Installs easily within 5 minutes
Available for both MT 4 and 5 platform
Built-in settings can be modified to filter out signals and make the indicator more proficient
Works on all the time frames
The robot can be purchased from the MQL 5 marketplace, after which you will have to log in to the community from the MetaTrader platform. Head over to the markets tab and download the indicator. Afterward, refresh the indicators tab and place the algorithm on respective charts to begin trading.
The indicator tries to capture trends in the market before they are about to happen. Whenever there is a possible opportunity, the expert advisor sends over the signal which traders can use to enter the market. The developer recommends placing a stop loss just above the candlestick to limit losses. When the trade goes in profit, the stop loss should be moved to breakeven to restrict any additional losses.
The robot comes at $125 for a lifetime license. As the product is purchased from the MQL 5 marketplace, there is no money back guarantee. Given that there are no live trading records available straight from the developer, it is not recommended to purchase it.
There are no backtesting results available as the algorithm is an indicator. The developer also doesn’t provide any hyperlink to live results on Myfxbook and only shares an image of the records. After a manual search, we were able to get hold of records.
Verified trading records are available on Myfxbook, which shows records from February 19, 2019, till November 21, 2019. The indicator provided an average monthly gain of 60.36% with a drawdown of 54.31%. During the duration, the developer made 272 trades with a winning rate of % with a profit factor of 11.69. The best trade was $65000, while the worst was $-23700. On some days during trading, the drawdown exceeded more than 20%, which refers to a high loss of balance and equity.
Customer reviews are only available on the MQL5 marketplace, where traders state that the signals provided by the indicator are late. There are also comments that the indicator cancels trades after a while, which leaves the current position hanging. Some buyers even state that the developer has been abusing them with bad words. All these points raise many concerns over the authenticity of the product.
There is no wholly grail indicator in the financial markets that can make you rich in an instant. Every algorithm will have its period of ups and downs. Entry Points Pro is better suited for individuals with a certain level of experience in the market.