NorthEastWay is a system that helps people with gaining pips on Forex automatically. The price looks out of place. We don’t know the reason to ask that much.
Is investing in NorthEastWay a good decision?
We don’t know. The offer is sky-high. Not anyone can afford to buy this expensive offer.
Company profile
Pavel Udovichenko is the dev of this system. On the MQL5 market he has a 9502 rate. There are 4 products and 23 signals in his portfolio. The robots’ rate is 5 based on 259 reviews.
Main features
We have a system that has some details explained about how the system is going to make profits on our account.
- It can help us with automatic trading on our terminal. So, it’s going to open and close orders automatically.
- The advisor costs $8346, but the dev wants to increase it to $9887.
- This pricing is completely weird and unhealthy.
- The robot trades“popular “pullback” currency pairs: AUDCAD, AUDNZD, NZDCAD.”
- “The system uses the main patterns of the Forex market in trading – the return of the price after a sharp movement in any direction.”
- The advisor works on M15.
- We can trade the following pairs EURGBP, EURUSD, GBPUSD, USDCAD, GBPCAD, and EURCAD.
- When we buy the system we have to contact the developer ASAP.
- We can work from a single chart.
- “Long Term tests for 5-10 years are recommended to show the EA’s stability during various market conditions.”
Price
The system is available for $8346 for a single copy. There are no rental options provided. We are allowed to download the advisor for free if we want to execute some backtests and check settings.
Trading results
We have a final report of 3 cross pairs tested with 94% quality. An initial deposit of $100 has become $1,009,786 of the total net profit. The maximum drawdown was 14.23%. The profit factor was 3.02 when the recovery factor was 4.67. NorthEastWay traded 4395 orders with a win rate of 75-76%.
The system trades on a real USD account with 1:500 leverage on MT4. The account has a verified track record. It was created on August 14, 2020, deposited at $121,035.57 and withdrawn at $78,166. The total gain has become 116.62%. The peak drawdown was 17, 75%. The robot’s average daily gain is 0,16%, while the average monthly gain is 4,85%.
The system closed 1519 deals with 22,346 pips. An average win is 29.17 pips when an average loss is -31.85 pips. The win rate for long trades is 73% when for short trades it is 79%. An average trade length is two days. The profit factor is high – 3.25.
AUDCAD is the most traded pair with 403 orders and $18,320.47 of profit. The system works with nine cross pairs.
The advisor works during the European trading hours and a bit during the Asian session.
Thursday is a less traded day with 252 orders.
The system works with low risks on the market. There should be 149 deals lost in a row to lose 10% of the balance.
The system uses Martingale to recover after losses. As you may see, after the loss of $145, a trader decided to withdraw $17K from the trading account.
People feedback
We have a few testimonials about how the system helped clients. Unfortunately, we couldn’t find customer reviews of the trusted third party websites like Trustpilot or FPA. While there are a few reviews for this system on MQL5, we cannot check their authenticity.
Summing up
NorthEastWay is a trading solution that works on the real market providing short monthly profits with less than 20% drawdowns. The pricing looks insanely high. Moreover, it uses a risky and dangerous Martingale, which may end up with significant losses.
