EA Smoke looks like a scam advisor. The system hasn’t worked stable since it was released on the MQL5 forum and placed running the real account.
We are prepared a list of useful information about the system and what we should expect from it on a terminal:
- The advisor is an automatic trading solution.
- We still are able to buy the robot for $149 because the next price will be $449.
- It seems no one buys it with these trading results.
- The advisor looks for trading opportunities based on trend indicators data.
- The system opens short-time and short-pips trades in the trend direction.
- It doesn’t run the next risky strategies: Grid, Martingale, Doubling, and Averaging.
- It will open orders on seven pairs USDCAD, EURCHF, EURUSD, USDCHF, EURAUD, AUDUSD, GBPUSD.
- We can work on the M5 time frame.
- We should have $50 for each pair we want to work with.
- We have to use it on the low slippage brokers.
- The system requires us to work on an ECN account only.
- Low spreads are another requirement.
- The leverage is 1:500.
The system is available for $149 for a lifetime copy. We have no rental options at all. We haven’t seen them in the offer. We can download it for an execution backtest on the terminal.
EA Smoke trading approach
- The system trades only in the trend direction.
- We are allowed to work with USDCAD, EURCHF, EURUSD, USDCHF, EURAUD, AUDUSD, GBPUSD.
- The time frame is M5.
The presentation includes a EURUSD backtest on the M5 time frame based on 18-year tick data. The modeling quality was 99.90%, with spreads of 5 pips. The initial deposit was $50. The total net profit has amounted to $18,158,497. The profit factor was 1.81. The maximum drawdown was 12.02%. The robot executed 4182 orders. The accuracy rate was 76,43% for shorts and 78,90% for longs.
EA Smoke live trading results
The system was set to trade on a real USD account on the RoboForex broker. It works automatically on the MT4 terminal with 1:500 leverage. The trading record is verified. The account was created on June 14, 2021, deposited at $1040, and withdrawn at $1000. The current balance is scam-like – $42.90. Since then, the absolute gain has become 7.25%. An average monthly gain is 4.37%. The maximum drawdown is 7.92%.
The system closed 102 trades with 82.2 pips. An average win is 3.59 pips when an average loss is -5.02 pips. The accuracy rate for longs is 68% and 66% for shorts. An average trade length is 1 hour 23 minutes. The profit factor is 1.16. It means the system is almost a scam.
EURUSD is the most traded symbol with 48 orders.
The robot opens orders when the market is calm and there’s no high volume trading.
Monday and Tuesday are the most actively traded days.
The advisor runs the account with quite high risks to the balance.
The system uses FIFA rules. It works with trailing stop losses and without a Grid with Martingale.
Julie 2021 was closed with significant losses.
What are the risks with EA Smoke?
Risks are almost 100%. The system is as dangerous as the developer has withdrawn the account, having kept just $42 in trading.
There are mostly positive testimonials. Most likely, they are fake ones because they don’t include any sign of trading data.
What are the pros & cons of investing in EA Smoke?
|Affordable pricing||No settings explanations provided|
|Horrible trading results|
|The system works on the withdrawn account|
|The developer doesn’t trust his system|
|Many fake comments published|
|No money-back-guarantee provided|
EA Smoke Conclusion
EA Smoke is a scam trading solution that no one wants. The system is dangerous. The developer knows this and withdrew the account. We don’t know if he wants to update it anytime soon.