At this time, purchasing EASY Bot items is not available to all members. Read more - how to get access to purchase
-
- Forex Robot Review
- Metatrader 4
- Experts
- Project Phoenix
Profit:
-9.55$
Traders:
61
(40/21)
Most Profit Trade:
28.02$
Most Loss Trade:
-28.55$
Profit Factor:
0.48
Average Loss:
-12.38$
Overview
The Project Phoenix Automatic Trading Advisor is a unique tool designed for forex traders who are looking to enhance their trading strategies. This advisor implements a medium-term trading strategy based on the theory of wave movement of the market. Unlike other advisors, it does not use martingale, grid, averaging, or scalping techniques.
Wave Analysis and Price Prediction
The advisor is built on the application of wave analysis to historical data, allowing it to search for patterns that can predict future price movements. By analyzing longer periods of time, the advisor identifies repeating patterns, while using smaller periods for approximation and interpolation of nodal points. This process refines the patterns and enhances the accuracy of price predictions. The advisor also utilizes an extrapolator to make predictions based on both periods, finding three waves of different periods to build a predictive model of price behavior.
Advantages of Project Phoenix
There are several advantages to using the Project Phoenix Automatic Trading Advisor:
- Permanent Work: The advisor works continuously without the need to wait for news or specific events to trade. It captures the entire price movement, unlike scalpers that focus on only a part of it.
- Medium-Term Trading: Project Phoenix aims to capture medium-term price movements, with positions held from several hours to several days. This approach allows traders to benefit from longer-term trends.
- No Take Profit: The advisor does not use Take Profit levels and instead closes orders based on the trading system conditions. This approach maximizes profit potential by capturing more price movements.
- Strict Risk Management: Each order is strictly tracked by the trading system, and a protective stop loss is set for each of them separately. This ensures that potential losses are limited.
- Visualized Settings and Wave Forecasts: The main settings and wave forecasts of the advisor are visualized on the chart, providing interactivity and convenience for traders.
Risk Warning and Requirements
It’s important to note that, like any trading expert, the Project Phoenix Automatic Trading Advisor makes forecasts based on past data. Therefore, it is recommended to use small lot sizes and not risk all the money in your account. Possible drawdowns should also be considered.
The advisor is designed to work with the EURUSD currency pair on the H1 time frame. The recommended deposit is 0.01 lot for every $300. It also has a self-diagnostic system that can display warnings or error messages if any issues arise.
FAQ
Q: Is optimization required before starting trading?
A: No, optimization is not required to start trading with the Project Phoenix Automatic Trading Advisor. However, traders have the option to optimize the size of the stop loss if desired.
Q: Can I watch independent testing of this product?
A: Yes, you can watch independent testing of the Project Phoenix Automatic Trading Advisor on the forexroboteasy.com website. It provides valuable insights into the performance and effectiveness of the advisor.
A: Absolutely! We encourage users to share their experiences of using the Project Phoenix Automatic Trading Advisor. Your feedback and insights can help other traders make informed decisions.
Remember, the Project Phoenix Automatic Trading Advisor is an independent product review. It is not affiliated with any specific individual or company. For more information and updates on the results of testing this product, please visit the forexroboteasy.com website.
EASY Scalperology Bot
Update: 8 Nov 2024
Trading Conditions by EASY Scalperology Bot
Leverage:
100
Account type:
Live
Profitable by EASY Scalperology Bot
Profit:
5.07%
AVG Daily:
0$
Deposit:
2200$
WithDrawal:
0$
Current Balance:
2311.51$
Profit:
111.51$
Trading Conditions by Project Phoenix
Leverage:
100
Account type:
Live
Profitable by Project Phoenix
Profit:
-0.68%
AVG Daily:
0$
Deposit:
1400$
WithDrawal:
0$
Current Balance:
1390.45$
Profit:
-9.55$
Other products
Project Phoenix: A Professional Forex Trader’s Review of the Automatic Trading Advisor
forexroboteasy.com
Write review
awesomerar
1 review
Unbiased Review: Project Phoenix - Leading Forex Trading Software
One of my main concerns is the suspicion of hard coding. It seems as though the software has been programmed to show favourable results from backtesting. This would be fine if the algorithm could work for multiple currency pairs and time frames. However, it appears that the algorithm can only function for one currency pair and one time frame in back testing. This limitation significantly reduces the software's versatility and adaptability, which is a crucial aspect of any forex trading software. Another issue I've encountered is the software's inability to adapt to changing market conditions. Forex markets are notoriously volatile, and a successful trading software needs to be able to adjust to these fluctuations. Unfortunately, "Project Phoenix" seems to struggle in this area. This has resulted in less than optimal trading results, which is a major drawback for any trader. Despite these issues, I'm willing to give "Project Phoenix" the benefit of the doubt. I understand that no software is perfect, and there's always room for improvement. I will continue to use this software for the next year and see if the results change. If there's a significant improvement in its performance, I will gladly update this review and adjust my rating accordingly. In conclusion, while "Project Phoenix" has potential, it currently falls short in several key areas. Its limited functionality in back testing, coupled with its inability to adapt to market changes, makes it a less than ideal choice for serious forex traders. I hope to see improvements in the future, but for now, I can't give it more than a one-star rating.