BuySellSeriesEA is an automated trading system that promises to deliver high monthly returns with accurate precisions. The vendor also claims that this robot exhibits a very low drawdown. Before we can form an opinion about the system’s profitability, we need to analyze all the different performance aspects.
This Forex expert advisor carries a hefty price tag of $800. The price is much higher than the market average and very few traders will be willing to spend this much money on a system that was launched just a few months ago. You can rent the system for 3 months in exchange for $250, but there is no money-back guarantee that protects your investment.
BuySellSeriesEA trading strategy
BuySellSeriesEA follows a trend analyzing strategy that includes a news filtering system and candle patterns. It trades on a daily basis and lets you control the risk you wish to take with each trade. The minimum balance requirement for this EA is $100. Although the system can automatically adjust to any timeframe, the vendor recommends using it on H1 charts. For a balance of $100, the lot size should be 0.01. You should keep enhancing the size as the account balance increases.
The vendor has not provided a proper explanation for the trading strategy. Saying that the system analyzes the trend is not enough. Seasoned Forex traders look for technical information related to the trading strategy. Without it, they won’t feel too confident about investing in this expert advisor.
BuySellSeriesEA features
This robot is compatible with multiple currency pairs. However, as per vendor recommendation, you should use it with GBP/USD and EUR/JPY. Also, you ought to sign up with a broker that has a low spread. By default, the EA has a spread of 2 pips. In case your broker has a higher spread, you just need to adjust it one the EA spread settings.
There are two risk settings for this EA, namely default and defined. For the first one, you trade with a risk that is predefined for your account balance. If you choose the defined settings option, you need to define the parameter settings for your account balance and modify the risk on your own.
BuySellSeriesEA backtesting results
The vendor has not shared the backtesting results for this Forex EA. They have even justified this by saying that backtests are not the most accurate way to measure the profitability of the trading system. While it is true that historical performance is not an indication of live performance, many traders consult backtest to check the robustness of the EA.
BuySellSeriesEA live trading results
Here we have the live trading results for BuySellSeriesEA presented on the Myfxbook website. This account has been up and running since June 01, 2021. Since then, the EA has placed 1034 trades through this account, winning 80% of them and generating a total profit of $398.23.
At this moment, the daily and monthly gains for this account are 1.04% and 36.22% respectively. The drawdown is incredibly high at 90.13%. This tells us that the trading strategy followed by this robot carries a high risk of ruin. There is no way a sensible trader will consider investing in BuySellSeriesEA after looking at the drawdown figure.
The account has a profit factor of 2.20. It has an average win and average loss of 8.73 pips/$0.88 and -15.98 pips/-$1.62. Due to the short trading history and the high drawdown, we are not impressed by the live performance.
BuySellSeriesEA reputation
The developer behind this EA is Chukwudi Joshua Obiekwe, who is based in Nigeria. We don’t have a lot of information on this person so it’s hard to determine whether they have the required expertise to build expert advisors. The lack of vendor transparency is quite disappointing and is a tell-tale sign of a scam service. There is another robot called GraphSeriesEA launched by the same person.
Unfortunately, there are no user reviews for this expert advisor on third-party websites like Trustpilot, Forexpeacearmy, Quora, and Myfxbook. This indicates a lack of reputation. Clearly, not many people trust this system enough to use it for live trading.
BuySellSeriesEA review summary
- Strategy – 2/10
- Functionality & Features – 2/10
- Trading Results – 3/10
- Reliability – 2/10
- Pricing – 2/10
BuySellSeriesEA is an overpriced robot that trades with a high level of risk. This leads to a high drawdown, which means the EA can drain your account overnight. The vendor does not offer a money-back guarantee for this robot, which makes it an even riskier investment.
