Gratified Long Term Day Trader trades based on multiple moving averages that detect signals on various currency pairs. The developer states that they have optimized the system with backtests from 2010 till 2021. We will review these records in our article and go through all the system’s features to judge its performance.
Is investing in Gratified Long Term Day Trader a good decision?
The algorithm has live records that are available for the short term. Currently, the value of drawdown is slightly high when we compare it with the monthly gains. To understand the future performance of the EA, we will have to wait and see its records.
Company profile
Scott Fredeman is the author of the EA who resides in the United States and has a total rating of 4.9 for 98 reviews.
The developer has 8 products published on the MQL5 marketplace and has 5 subscribers for his services. The MQL5 website dictates that the author has a total trading experience of 4 years. There are no certificates or records that could prove the statement.
Main features
The robot comes with the following main features:
- It can trade on multiple currency pairs
- The algorithm is available for both MT4 and MT5
- Takes advantage of daily price movements
- The robot comes with regular updates
To install the EA, use the following steps:
- Purchase the system from the developer at the MQL5 marketplace
- Login to your MT5 account at the platform and download the robot
- Attach the EA to charts to start trading
Strategy
The developer states that the EA trades on multiple currency pairs from the EURUSD H1 chart. It understands the dynamic movement of prices over the long term and uses a stop loss and take profit for each trade. The entries are determined using various moving averages.
From the history of the MQL5 records, we can observe that the robot can open and close trades on multiple currencies simultaneously. The average duration of trades hangs at 6 days which refers to the use of a swing methodology.
Price
The robot is available for an asking price of $299. There are no renting options available for now. The rules of MQL5 marketplace do not allow a refund for any purchases.
Trading results
Backtesting results are available for unknown assets and time frames where the relative drawdown was around 10.04%.
The winning rate was 54.11%, with a profit factor of about 1.2. The test was done with an unknown value of starting balance, where the robot tanked a profit of $65843.02.
There were 6335 trades in total in which the best trade was $602.18, while the worst one was -$689.35.
Verified trading records are available on MQL 5. We have a performance from December 01 2021, till the current date. The system made an average monthly gain of around 10% during the period, with a drawdown of 11.7%.
The winning rate stood at 60%, with a profit factor of 1.94. The best trade was $20.01, while the worst was -$18.25 in 80 trades.
Customer reviews
General customer reviews are available on the MQL5 marketplace, which gives the robot a total rating of 5 for 5 feedback. One of the investors states that it is too early to rate the algorithm as it is relatively a new robot in the market.
Summing up
Gratified Long Term Day Trader is a relatively new algorithm that is currently running on a live account for a short duration. The EA has an average drawdown value which can increase in the future. The algorithm is only useful for accounts that have small swap fees due to swing trading.
