Elephant Expert Advisor Review |
The Elephant trading advisor is one of the most expensive paid advisors at FreshForex, which is what caught our attention (although the broker also offers free advisors). Its price is 350 dollars. The United States and the company have copyright to it, as its analysts are the developers of the robot. From time to time FreshForex runs promotions, offering an advisor for free to every new trader. But judging by the fact that the program never appeared in the free access, copyright is strictly controlled by the broker. As well as the detailed essence of the basic strategy. We recommend that you periodically visit the FreshForex website and watch for new promotions.
Advisor Elephant is a stable Expert Advisor with Martingale elements
Elephant (the very name “Elephant” implies stability and power) completely eliminates the psychological factor. The program is reliable, although drawdowns do occur, they are not so strong that doubts arise in the broker’s reliability. The Elephant Expert Advisor uses signals to enter the market using standard classic MT4 indicators: MACD, RSI, CCI, stochastic, moving averages. In case of losses, the rate increases according to the Martingale calculator (although the exact rate of increase in the lot is not reported). About half of the settings are related to trailing stop and money management.
Trading conditions Elephant:
- currency pair – USD USA / Euro;
- recommended deposit – from 2000 dollars. USA.
Below is the curve of the deposit with MT4 for the testing period of 12 months (for 2016).
Basic EA settings Elephant:
- Lot, LotExponent, MM, MaxLots, TotalEquityRisk and up to 10 more settings – these are all parameters for personal mari management. A detailed description of them is attached together with the advisor;
- MaxTrades_Ilan1 – the maximum number of transactions for the first strategy (there are three of them in total);
- UseTrailingStop_1 – permission to use trailing stop. Two related parameters set the number of points before the start of trailing and the number of stop points;
- PipStep_Ilan_1 – distance between orders;
- slip_Ilan_1 – allowable slippage in pips.
For the other 2 strategies, the settings are similar.
Summary… Free advisors are a great chance to lose money, it is profitable for a broker to sell paid advisors exclusively profitable ones, since this is the brand’s reputation. The Elephant advisor is not freely available (and it is unlikely that someone will give money for a product for which such money was paid). But there are reviews and they are positive. Since the beginning of 2017, when many trading systems showed losses, the EA slowly but surely brought about 1.7-1.9% per month. It’s up to you to buy it or not, but if you work with an advisor, the FxCash rebate service can 100% guarantee you a partial return of the spread.
FxCash and FreshForex – more profitable together!