The developer of Shell Forex EA states that the system does not use a martingale strategy and has live records available on Myfxbook to track its performance. The algorithm is easy to use and is compatible with the MT4 platform. The developer details the information about the product through a single web page, which we will use in our analysis to see if the robot is good enough for our portfolios.
Is investing in Shell Forex EA a good decision?
Shell forex EA uses grid strategy to trade the market. It has been live for a short duration, which is not enough to classify it as a good investment choice.
The company is unwilling to share details on the whereabouts and trading experiences. We could not find any information about the respective topic on a single web page.
The robot comes with the following main features:
It does not use martingale
There is no grid and arbitrage
There are free updates with the robot
Tested and proven set files are available with the product.
It can install easily within 5 minutes
The author comments that the robot uses low, medium, and high return strategies with no martingale, grid, and arbitrage involved. The developer does not state anything further about the robot’s game plan, so we had to use the live records on Myfxbook to see how it operates. From there, we can observe that it uses a grid strategy to trade on multiple currency pairs and holds each trade for an average duration of 19 hours and 53 minutes. There is no fixed stop loss or take profit with each trade, and the robot closes the executions virtually when they reach a certain profitable level.
The developer does not share details of the robot price with us. We have scanned the whole website but could not find any information on the topic. There is an unconditional refundable option.
The developer does not share the backtesting records of the robot with us. Without knowing the historical performance, we can not predict what kind of drawdown or profitability it will have for an extensive future. This is a poor approach from the author and raises many concerns about the authenticity of the products.
Verified trading records are available on Myfxbook. We have a performance from December 22 2021, till the current date. The system made an average monthly gain of 84.89% during the period, with a drawdown of 8.56%.
The winning rate stood at 79%, with a profit factor of 5.06. The best trade was $371.28, while the worst was -$414.71 in 120 trades.
No customer reviews are present on noted platforms such as Forex Peace Army or TrustPilot. We cannot find any statements from other traders that can be useful for our analysis.
The current history of the live records is short, showing that the robot is online for a short duration. We will have to wait and see how it performs for an extensive period to see an accurate performance. Furthermore, without any customer reviews we cannot know the general view of the traders about the system. The pricing model of the EA is also not clear.