Forex Robot Reviews

Forex Oz EA review ( ForexOZ Robot)

Review of the Forex OZ EA
 

EA Name Currency Pairs Timeframe Strategy ECN 4&5 Digits Take Profit Stop Loss Home Page
Forex OZ EUR/USD, GBP/USD, USD/CAD, USD/JPY 1 hour short term trading Unknown Yes 15-35 pips 70-100 pips Forex OZ

Performance (ForexOZ EA Test Results)

License

The Forex Oz is sold for 149$ through Plimus

 

Forex OZ Strategy

  The Forex Oz according to the EA vendor uses a 15 to 35 target and 70 to 100 stoploss depending in the trade set-up. We have not obtained a copy of this robot yet, but from looking at their backtest results, here is how things work:

The EA enters a position with a stoploss and target profit, (and according to the vendor, the EA enters a stoploss and target  then moves stoploss to breakeven once the Market has moved in favour of the trade.

 

ForexOZ Recommended Brokers

FX Open and Iam FX are two brokers to consider when trading forex robots.

 

Conclusion

The Forex OZ does have a good Risk:Reward ratio as the vendor claims. But would it actually work over the long term? That’s an important question which we can only answer through the backtest results, as backtests are the only evaluation tool we have so far to find out whether the EA would have the potential to keep its constancy over the long term. Forex Oz vendor however provides a backtest for only one and a half year, and he actually admits that his robot does not do any good before the 2009 period, and here is what he says:  (One of the EA’s safest strategies has been reliant on the activity of the asian session. Over the past two years it has become more active and will continue to be more active. 2 years prior the EA would not have worked (Hence the 1.5 year backtest).

did you get it? let me narrow it down for you, (it has become more active and will continue to be more active)…

Ok, what ever you say Mr.Nostradamus!

Safe To Buy?

MAYBE!

The Forex OZ has been approved for purchase just for the fact it uses plimus as a payment method, with a money back guarantee policy.

 

Forex OZ Overall Rating

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