Forex Truck is powered by Forex Store software. It was introduced as “a reliable truck on the highway of the Forex market.” The presentation looks quite familiar for those who saw power by Forex Store robots. For more details, please read our Forex Truck review.
The Forex Truck offer costs $277 for a copy. The pack is featured by one license for a demo or real account, MT4 and MT5 versions of the robot, a user manual, welcome, and quick support. We’re free to change an account number without limitations. There’s a powered by Forex Store robots 30-day money-back guarantee if the robot is not profitable or if the drawdowns are higher than 30%.
Forex Truck Trading Strategy
- The system uses the Trend strategy as the main one with a three-order Grid, Hedge, and medium Martingale strategies.
- It works only with a USD/CAD currency pair on the H1 time frame.
Forex Truck Features
There are not so many Forex Truck features:
- Forex Truck is a fully-automatic trading solution.
- It allows trading only with USD/CAD currency pair.
- There are no broker limitations. We’re free to use it wherever we want.
- The package includes two versions of the EA: for MT4 and MT5.
- There are many indicators that allow spotting trading opportunities and calculate accurate Lot Size.
- The money-management system calculates Lot Size for each trade based on the account balance.
- The system runs Hedge and Grid strategies to increase profitability from the market moves.
- If the market goes in the wrong direction, it closes deals before they reach Stop Loss levels.
- Martingale is used if there were some losses to recover the account.
Forex Truck Backtesting Results
The presentation is featured by two USD/CAD backtest: aggressive and conservative. The EA performed it on USD/CAD on the H1 time frame. It used tick data from seven years. The modeling quality was 90%. The spreads were set at 3 pips. The initial deposit was set at $5000. The total net profit was $75759. The Profit Factor was 1.75. The maximum drawdown was $12283.96 – 23.42%. The EA has closed 1609 deals with low win-rates: 54.93% for the Short direction and 67.64% for the Long direction.
Forex Truck Live Trading Results
The Forex Truck system runs on a real USD account that’s hosted by FXOpen. The robot trades automatically on the MetaTrader 4 platform using its technical indicators. The account has a verified track record. It was deployed on January 16, 2020, and deposited at $2000. Since then, the absolute gain has become +317.7%. An average monthly gain is 11.83%. The maximum drawdown is 23.08%. There are fifty-one users who track the account.
The EA traded 247 deals with 1844.3 pips. An average win is 45.57 pips when an average loss is -46.70 pips. The win-rate is impossibly low for both directions – Longs (59%), Shorts (58%). An average trade length is two days. The Profit Factor is 2.19.
The most-traded and most-profitable direction is the Short one – 127 deals with $3394.38.
Forex Truck trades all sessions equally.
The less-traded days are Wednesday and Fridays – 42 deals during both.
The robot runs the account with medium risks to the account balance.
From trading results, we know that Lot Size can rise from 0.17 to 0.60. The win-rate went down significantly. Using Martingale is a risky way to recover with less than 80%+ win-rate.
So far, February 2021 is still profitable – 0.32%.
Forex Truck Reputation
There’s a page of Forex Truck on Forex Store. It’s a top-rated software with an R rate. We are sure that the system with these risks can be that high.
Forex Truck Review Summary
- Strategy – score (4/10)
- Functionality & Features – score (6/10)
- Trading Results – score (8/10)
- Reliability – score (6/10)
- Pricing – score (7/10)
Conclusion
Forex Truck is a robot that has many popular and risky strategies on the board. Like many others, the EA has shown nothing special. It’s another Grid and Martingale robot that performs risky trading on a low win-rate account. Sooner or later, it’ll blow at least half of the balance. The R rate given by Forex Store is fake. The presentation lacks information about developers, settings explanations, money-management advice, etc.
