Forex Truck is a Forex-related trading solution that trades fully automatically. The product presentation looks below average because it’s three-page long and not informative enough. There’s a lack of explanations about strategies and settings. The robot works with USDCAD only.
Forex Truck can be found on Forex Store. It has a 10/10 rate there. It follows NFA rules.
The pricing was increased from $277 to $329 approximately half a year ago. The package includes one real account license that can be changed as many times as we need, user manual, not versions, a 30-day refund policy, and free updates.
We have several details about strategies, features, and money-management explained.
- The advisor is able to execute orders on our terminal completely automatically.
- It can be used on platforms MT4 and MT5.
- The core trading pair is USDCAD.
- The system isn’t sewed to any broker.
- The system places orders on the market with fixed lots.
- It can add one more order if the market goes in the right direction.
- If in the wrong one, it tries to lose a deal with a profit or a little loss.
Forex Truck trading approach
- The devs didn’t disclose trading strategies behind the system.
- We don’t know what time frame it works on.
- We have analyzed the system and found that the advisor has a Martingale feature to recover after losses by placing an order with increased lot sizes.
- It seeks for trading opportunities to place a deal with proper SL and TP on the market.
This is a USDCAD backtest report. The system was tested on the 6-year of the data on the H1 time frame. The modeling quality was 90.00% with 3-pip spreads. An initial deposit was $5000. The total net profit has become $75,759. The maximum drawdown was 23.42%. We have 609 orders performed by EA with an accuracy rate of 54% for shorts and 67% for longs.
Forex Truck live trading results
The advisor works on a real FXOpen-based account on MT4. It works automatically without leverage mentioned. The account has a verified track record. It was created on January 16, 2020, and funded at $2000. Since then, the total gain has become 627.34%. An average monthly gain is 8.54%. The maximum drawdown is 18.67%.
It has executed 460 orders with 2727.8 pips gained. An average win is 45.40 pips when an average loss is -47.24 pips. The win rate is 55% for Longs and 59% for Shorts. An average trade length is two days. The profit factor is 1.94.
The short direction with $6566 is more profitable than the long direction with $5980.
The system trades all sessions, focusing on the European one.
The advisor trades on Tuesdays more frequently than on the other days.
It works with medium risks to the balance. It has to lose 21 deals (8.31%) to lose 10% of the balance.
The advisor works with Grids of two orders, sometimes, with adding Martingale lots.
Forex Truck worked with different profitability in 2021.
What are the risks with Forex Truck?
The risks are based on the Martingale strategy behind the system. Its usage can increase losses if the market goes in the wrong direction.
The presentation doesn’t include people’s testimonials that would let us know if the system works with the same profitability on their accounts.
What are the pros & cons of investing in Forex Truck?
|Backtest reports provided||No team revealed|
|Trading results shown||No settings explanations provided|
|A refund policy available||No risk advice given|
|Only one cross pair to trade|
|A grid with martingale on the board|
|No clients’ feedback available|
Forex Truck Conclusion
Forex Truck is a trading solution that has been trading USDCAD on the real market for two years. The advisor is profitable but it uses risky strategies like a Grid and Martingale. So, the final decision is up to you.