The FX PostThe FX Post
    What's Hot

    FlatQube Trade Volume, Trade Pairs & Trust Score

    November 7, 2022

    Step Guide to Winning Forex Trading

    September 19, 2022

    Relationship Between Currency Risk and Foreign Bonds

    September 2, 2022
    The FX Post The FX Post
    • Best Fx Robots
    • Forex
      • News
      • Forex 101
      • Forex Forecasts
      • Broker Reviews
    • Crypto
      • News
      • Crypto 101
      • Crypto Forecasts
      • Crypto Reviews
    • Indices
      • News
      • Analysis
      • Commodities
      • Reviews
    • Automated Trading
      • Forex Signals
      • Forex Robots
      • Copy Trading
    • Top
      • Best Forex Robots
    The FX PostThe FX Post
    Home » Omega Trend EA Review: Is It a Good EA to Buy In 2021?
    Uncategorized

    Omega Trend EA Review: Is It a Good EA to Buy In 2021?

    October 14, 20214 Mins Read
    Facebook Twitter Pinterest LinkedIn Reddit
    Omega Trend EA
    Share
    Facebook Twitter LinkedIn Pinterest Reddit

    The vendor tries to convince the trading community that Omega Trend EA is ready for 2021 market conditions. According to the company, the system will assist you to trade in the live market, and consequently, grow your account balance. 

    Omega Trend EA is the product of the FXautomater team. The company has been in this market for over 15 years and is quite popular for creating numerous Forex robots. However, the problem is that in all its presentations, the company doesn’t reveal the names and profiles of the programmers, traders, and investors it works with. This is enough reason to make traders doubt the team’s proficiency. 

    Markets are invaded by algorithms
    Secure your passive income with algo-based trading systems
    Learn more

    The EA is currently being sold going for $97. At this new cost, you will get 1 real account, 3 demo accounts, 24/7 customer support, and a 60-day money-back guarantee. 

    Omega Trend EA’s price
    Omega Trend EA’s price

    Key features

    The Omega Trend EA features the following:

    • Supports 3 main currency pairs; GBPUSD, EURUSD, and EURJPY
    • A detailed user guide
    • Lifetime free updates 
    • A money management system and Omega trend indicator
    • An advanced time management system
    • A recommended time frame of 1 hour.

    Omega Trend EA trading approach

    Omega Trend EA applies 3 main trading principles. One of them is referred to as trend spotting. The system is designed to spot a trend close to the start of the movement to provide you with the best opportunity to profit. The second approach is known as strategy diversity. The bot has 2 trend indicators tied to specific strategies to capitalize on the various kinds of market movements. Lastly, we have the dynamic entries and exits principle. This entails dynamically connecting trailing stop, stop loss, and take profit points to the market’s volatility. 

    Backtesting results

    Backtesting results
    Backtesting results

    This is a backtest report for the GBPUSD pair. The EA traded with it using the 1 hour time frame from August 2001 to September 2020. In the end, it executed 4853 trades and achieved win rates of 57.97% for short positions and 60.11% for the long ones. These outcomes were mediocre, to say the least. From a deposit of $2000, a total profit of $21996.38 was realized. The maximum drawdown was 11.62%, while the profit factor was 1.26. 

    Omega Trend EA live trading results

    Live trading data
    Live trading data

    We have a demo USD account that is being hosted by the Alpari RU brokerage. Since November 4, 2020, to date, only a profit of $174.43 has been attained from a $1,000 deposit. This translates to an absolute gain of 17.44%. The daily (0.05%) and the monthly profits (1.41%) are very small. The good news, however, is that the drawdown rate is low — 4.54%. 

    Performance of trades
    Performance of trades

    We can see that the EA doesn’t trade frequently. In about 11 months, it has only traded 172 times. Worse still, these trades have not been that successful, as illustrated by win rates of 61% and 59% for long and short positions, respectively. The profit factor of 1.40 is also average and an indication that the returns on investment are insignificant.

    Monthly gains
    Monthly gains

    The low profitability of the system is very clear. Since January, it has not managed to make any substantial gains. So far, it has only made losses in October, and this trend is likely to continue.

    History of trading
    History of trading

    The trading history shows us that the robot has made many losses in October. The strategies used are clearly working against it. Stop losses are also part of its risk management tactics.

    Trading summary for the GBPUSD pair
    Trading summary for the GBPUSD pair

    The success rates for the long and short positions were 60%. The long trades brought in the most profits — $144.90.

    What are the risks with Omega Trend EA?

    Omega Trend EA is not a reliable trading system. We arrived at this conclusion after discovering that the robot:

    • Makes more losses than wins
    • Generates small profits.

    Worth noting!

    We were shocked to find out that the EA only has a single review on FPA, considering that it has been in the market for some time now. Anyway, this customer has given it 3 stars. He promises to provide another review after he tracks the system’s performance over a longer period. 

    Customer feedback
    Customer feedback

    Alt: Customer feedback. 

    What are the pros & cons of investing in Omega Trend EA?

    ProsCons
    Offers a 60-day money-back guaranteeInsufficient customer feedback
    Lack of vendor transparency
    Makes small profits
    Poor win rate results

    The system will not give you value for money.

    Markets are invaded by algorithms
    Secure your passive income with algo-based trading systems
    Learn more

    Omega Trend EA Conclusion

    56% Summary

    We can confidently say that Omega Trend EA is not a dependable trading tool. In addition to having a low profitability rate, the system’s strategies also carry some risks that make it prone to losses. So, it can easily erode the profits made. The lack of adequate customer feedback is also a sign that the robot is not popular among traders due to its inefficiency.

    • Features 6
    • Pricing 7
    • Strategy 4
    • Performance 5
    • Reliability 6
    Share. Facebook Twitter Pinterest LinkedIn Reddit

    Related Posts

    Cryptohopper
    4.0

    Cryptohopper Review: Pros, Cons, Recommendations

    May 23, 2022
    Graphics, coins and banknotes of the European Union

    Euro Area Economic Sentiment Fell in April on Russia’s Invasion of Ukraine

    May 2, 2022
    Eurozone Inflation

    Eurozone Inflation Soars to New-Record High of 5.8%, Fourth Straight Month Surge

    March 2, 2022
    IMF International monetary fund global bank organisation. Business concept on blurred background

    IMF Downgrades Global Economic-Growth Outlook to 4.4% in 2022

    January 25, 2022
    Add A Comment

    Leave A Reply Cancel Reply

      +  32  =  42

    Best FX Post
    Best Forex Robots (Expert Advisors) 2021

    Best Forex Robots (Expert Advisors) 2022: Passive Income From Algo Trading Systems

    July 7, 2021

    Top 10 Lending Platforms for Crypto Loans

    June 1, 2022
    forex eurusd trading charts

    Top 10 Best Forex Brokers In All Times

    June 1, 2022
    Recent Posts
    • FlatQube Trade Volume, Trade Pairs & Trust Score
    • Step Guide to Winning Forex Trading
    • Relationship Between Currency Risk and Foreign Bonds
    • Best Social & Copy Trading Platforms
    • Bitcoin Dips Listed Below $20,000 With Fundstrat Considering ‘Last Washout’
    Featured Reviews
    TechBerry

    TechBerry Review: Pros, Cons, Recommendations

    September 18, 2021
    CryptoHero

    CryptoHero Review: Pros, Cons, Recommendations

    June 3, 2022
    Bitsgap

    Bitsgap Review: Pros, Cons, Recommendations

    April 29, 2022
    Categories
    • Analysis
    • Automated Trading
    • Best FX Post
    • Broker Reviews
    • Commodities
    • Copy Trading
    • Crypto
    • Crypto 101
    • Crypto Bots
    • Crypto Forecasts
    • Crypto Reviews
    • Forex
    • Forex 101
    • Forex Forecasts
    • Forex Robots
    • Forex Signals
    • Guides
    • Indices
    • News
    • News
    • News
    • Reviews
    • Reviews
    • Uncategorized
    Twitter BlogLovin
    © 2023, Thefxpost.com.
    • Contact

    Type above and press Enter to search. Press Esc to cancel.