Big Poppa EA uses price action, Fibonacci retracement, and money management techniques for trading the markets. The algorithm requires traders to optimize and find the best set file that suits their needs. We will go through the system and see if it can benefit our portfolio.
The robot comes with the following main features:
- It uses price action techniques to trade the markets.
- The robot can use money management to maintain risk.
- The working time frame of the robot is 1 hour and 15 minutes.
- The monthly return is around 15-30%.
To install the EA, use the following steps:
- Purchase the system from the developer by contacting him through Telegram
- After receiving the EA, you have to place it in the experts’ folder
- Attach it to the charts
Bender FX is the company behind the production of the system. They keep us blind in providing a detailed record of their trading results. The author claims that they have more than three years of experience in the market, but there is no proof.
The robot is available for an asking price of $149. There is no money-back guarantee provider by the developer. There are also no renting options available.
Big Poppa EA trading approach
The developer states that the EA trades using price action, Fibonacci retracements, and money management techniques. There is martingale involved which is claimed openly on the website. It operates on low volatility. To get further information on the topic, we scan the live records present on Myfxbook. The average trade length of 2 days points to a swing trading approach. There is no fixed stop loss or take profit attached with trade.
There are no backtesting records available for the robot, which raises many concerns about the product’s performance. We can not know if it will work perfectly after we put it on our live account.
Big Poppa live trading results
Verified trading records are available on Myfxbook. We have a performance from July 26, 2021, till October 06, 2021. The system made an average monthly gain of 92.13% during the period, with a drawdown of 99.92%.
The stated drawdown shows that the robot resulted in a margin call while trading. This is serious when it comes to using it on a live account. The developer may have known the implementation of risky strategy and therefore decided not to test it on a live portfolio.
The winning rate stood at 63%, with a profit factor of 0.43. The best trade was $95.54, while the worst was -$328.54 in 180 trades.
What are risks with Big Poppa EA
Big Poppa EA has a high drawdown which makes it useless for trading. According to the live records that are present on Myfxbook, we can see that it has reached a margin call on the account. It is not wise to invest in the system.
There are no customer reviews available on the Forex Peace Army that could show us the general view of traders on the product. Traders might be afraid of the fact that the robot uses a risky martingale approach and therefore do not trade using it.
What are the pros and cons of investing in Big Poppa EA?
- Live records are available on Myfxbook
- No backtesting records
- No transparency on strategy
- Uses martingale
A high drawdown makes the algorithm unfit for use on our live account.
Big Poppa EA Conclusion
Big Poppa EA is not a good system due to the usage of lot multiplication. The algorithm has already caused a margin call on a live account, raising many concerns about its performance. It is better to avoid using it on your accounts as of now.