Cairo EA was published on 19 January 2021 and has seen quite a few updates over a short period. The expert does not use a risky approach for trading as it has no martingale or grid systems in place. It works with a fixed set of stop loss and take profit and has a dynamic lot system that changes the position size according to equity.
You can buy the EA on the MQL 5 community directly from the developer for a price of $399. It is also possible to rent the robot for a month at $249. Unfortunately, as you are buying from the MQL platform, there is no money-back guarantee.
Vendor Transparency
As the algorithm is available in the popular MetaTrader community, a trader has to be transparent in order to convince traders to buy his product. The authors’ name is Ruben Octavio Gonzales, and he has eight products in the market with experience of 1 year.
To get in contact, you can choose to send a message directly within the MQL 5 community. It is also possible to add him to your friend list.
Key Features
The trader recommends using Vantage FX and has a hyperlink present on his profile, an affiliate link. The recommended pair to use is EUR/USD, and you can choose any time frame of linking. The developer suggests placing it on other currencies and experimenting with it. There are no recommendations for minimum balance. However, the provider himself deposits $100 on the signals page for testing it out. There are options available to configure the settings according to your liking. You can set the dynamic lot, stop loss, take profit, trade comment, CCI period, CCI level, max lot, and spread settings.
Cairo Trading Approach
There is not much information on what type of strategy the EA uses. The developer states that every position comes with a stop loss and takes profit, and there will be one position opened at a time. It also does not use dangerous strategies such as martingale, grid, or averaging. However, there are frequent drops in equity that separate it from the balance curve, which isn’t possible without using a risky approach in the algorithm.
In the signals tab for the same algorithm, we can see the robot does not use a stop loss and inflicts huge drawdowns on the account.
Backtesting Results
Backtesting results on the websites are for default settings from 01.01.2016 and 31.12.2020 on 100% history quality data. The developer tested the system on dynamic and static mode. During dynamic mode, the robot had a maximal drawdown of 15.58% and a total net profit of $111029.60. While for the static, the EA made $10400 and had a maximum relative drawdown of 25.41%. The robot had a winning percentage of nearly a 100% and had a staggering profit factor above 100. With such results, it is clear that there is something fishy as no algorithm in the world can have a 100% win ratio due to the uncertainty in the market. It might be possible that the developer fed the tick history into the robot’s code to produce such outcomes.
Cairo Live Trading Results
Live trading results are not available for the EA, which is quite inadequate for something that demands nearly $400. However, we could dive into the traders’ portfolio and catch live signals for the service. The results were completely different from those in the backtest as the EA faced a margin call on his account. The robot did have a winning percentage of 91.89%, but a few bad trades wiped off all the equity. With the profit factor of 0.95, the algorithm had an expected payoff of $0.95. The best trade grabbed $4.27 while the worst was -$30.35.
What are the Risks with Cairo?
We can observe the following risks while trading with Cairo:
- It costs too much for something that has no proof over noted platforms such as Myfxbook.
- The account can be subjected to a margin call with a few bad trades.
- The system has no stop loss in place.
Worth Noting!
Customer reviews on the service indicate that the robot only performs well in the backtest failing in the live account. Most of the people complain about losing some or all of their entire money. They also clarify the fact that the robot has a big stop loss and you can lose your cash in a few trades.
What are the pros and cons of investing in Super EZ Forex?
Pros
- Good support from the developer
Cons
- High price
- Extremely risky
- Bad customer reviews and live trading results
- No money refund provided
Any expert advisor that claims to perform well on the backtest can fail during live trading. Cairo EA is no different in this case.
Final Thoughts
There are thousands of expert advisors available in the MQL5 community. Choosing amongst them can be a tedious process. Always make sure that the system has verified live trading results and provides access to the daily executions so you can match your performance. For Cairo EA, the live trading results are not satisfactory; therefore, stay away from the robot.
| Features | 6/10 |
| Pricing | 3/10 |
| Strategy | 2/10 |
| Performance | 3/10 |
| Reliability | 6/10 |
