4 Horsemen is a new forex EA by McLean Van Cleve being sold for $97 on Clickbank. It comes with a no questions asked 60 day money back guarantee. I don’t know much about this McLean character as he seems to be new to the industry in terms of products. Or it could just be a fake marketing name like we’re used to, regardless let’s take a look at whats being offered here.
They have a interesting possible typo on their sales page. They talk about their new revolutionary “POV” technology that is the combination of powerful indicators. Then below they say “So Just What is TOV?” So is it POV or TOV?
They have one demo account running since December 18th that has a gain of 31% and drawdown of just 2%. While decent numbers, its still just a demo and such a short test.
Trades the EURUSD with an average win of 10 pips. The vendor started on a $10,000 account trading 1.0 lots with a few trades as high as 2.5 lots.
Remember if you are going to try 4 Horsemen EA that you fully understand how the system works before running it live. I always recommend to use your refund period to test it thoroughly for at least a month. If your results are above satisfaction, then and only then should you consider taking steps to trade it live with your hard earned money. Just because a website says their system will make $xx,xxx a month doesn’t mean it’s going to. So if you are not satisfied, do not hesitate to request your money back. If you are interested in more information on this forex product then check out the link or any comments below.
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I looked into it and the strategy seems to be mean-reverting, which works nicely in higher frequencies on FX. This guy however does basically a simple martingale on it and keeps adding positions if the price is moving in the wrong direction. Then he waits until he’s able to close each position with about zero profit, no matter how long it takes. He sets some generous stoploss, but does not have a reasonable way of dealing with a trending market.
Results in the demo account, with almost perfect statistics therefore seem only as lucky period for his EA. On which he chose to base his sale.
There is a backtest going more into the past attached in his profile and it is obviously far worse. Still relatively nicely profitable, but I suggest looking at how trading costs really affect the strategy, I have not taken a look at this.
BTW it would be nice if he extended this strategy to other currency pairs, uncorrelated diversification could do it a lot of good.