Powerhouse EA Review: Is It a Good EA to Buy In 2022?

Powerhouse EA is a Forex expert advisor that is compatible with the MT5 trading platform. It is a combination of four EAs from the same developer, namely Gopher, Vigorous, Ranger, and The Comeback Kid. As per the vendor’s claims, this is the most advanced automated trading system for retail traders. 

On the official website, the vendor has shared a short introduction to the trading system. We have a link to a live trading account on Myfxbook, along with a video explaining the working principle of the EA. There is a screenshot showing the monthly profits over several years. The vendor has also shared the pricing details. 

This is a product from Responsible Forex Trading, a company founded by Ryan Brown, an American trader. He has been developing trading algorithms for several years. We don’t know much about his background and it is not clear whether he is assisted by other individuals. You can get in touch with the developer via email or live chat.

Key features 

This EA trades in pairs like AUD/CAD, AUD/USD, EUR/USD, GBP/CAD, GBP/USD, USD/CAD, USD/CHF, and USD/JPY. Apart from running 4 robots simultaneously, it also cross-pairs take profit. According to the developer, this allows each strategy to actively participate and generate more profits while maintaining a low drawdown. They also claim that you can get a 5-8% monthly profit using default settings and a $5k starting balance. Powerhouse EA uses smart filters to keep all the strategies working together. 

For a $5k starting balance, you are recommended to use 200:1 leverage and the high-risk preset. For the medium risk preset, you need a $10k starting balance and 100:1 leverage. The low-risk preset requires 50:1 leverage and a $20k starting balance. 

Powerhouse EA trading approach

Unfortunately, the vendor has not clearly explained the trading strategy used by this system. We don’t know what indicators it uses or how it identifies profitable trades. Thus, it is difficult for us to assess the EA’s profitability.

Backtesting results 

On the official website, the vendor has shared the backtesting results for the component EAs. As such, we have no idea about the long-term performance of the robot. Also, we cannot compare the live trading results with the historical performance.

Powerhouse EA live trading results 

This live trading account on Myfxbook has been active since December 14, 2021. Although it hasn’t been trading live for too long, the robot has already conducted 2316 trades through this account. This tells us that it has been following a high-frequency trading strategy. The current win rate of the systems is decent at 60%, while the total profit is $1750.78.

At this moment, the daily and monthly gains are 0.19% and 5.97%, respectively. The drawdown of 12.50%, is not that high and can be considered suitable for trading. This account currently has a time-weighted return of 35.02% and a profit factor of 1.95.

As you can see from the recent trading history, the EA is prone to suffering consecutive losses. It conducts multiple trades on a daily basis, generating small profits for each. For the last 20 trades, it has used a lot size of 0.01-0.03. The average trade length is 7 hours and 53 minutes, while the average win and loss are 8.66 pips/$2.57 and -9.18 pips/-$1.99, respectively.

What are the risks with Powerhouse EA?

This EA has a short trading history, which means it hasn’t been exposed to different market conditions. We don’t exactly know what strategy it follows and at $497, it is not that cheap compared to other expert advisors on the market. Also, the developer has not shared the historical test results.

Worth noting!

On the official website, you can find the email address of the support team. You can also send a message using the live chat feature. The FAQ section contains the answers to some relevant questions related to the robot. There are no reviews for this EA on third-party websites.

What are the pros & cons of investing in Powerhouse EA?