We’d like to introduce to you a review of the Leprechaun robot. This EA was designed by Aleksei Zaitsev and released on the MQL5 community on September 1, 2020. The current version is 3.6 from the last update on September 23, 2020.
The robot costs $49 for a copy. The rent pricing is $20 monthly. There’s a free demo download, so people can check settings on the MT4 platform. There’s no refund policy provided.
Leprechaun Trading Strategy
The EA performs a Grid strategy in the trend direction. When the trend direction changes, Leprechaun “reverses the balance of trading positions in the trend direction and closes the whole grid of orders is a plus.” It opens a Grid of several orders at the start of the American session and closes them in several hours. It uses a Martingale strategy as well, after losses to recover the account balance.
Leprechaun Features
The robot has many features:
- The robot performs a Grid strategy.
- It’s able to trade during high-volatility periods.
- The EA has trouble with trading during flat market periods.
- It works perfectly well during realizing high-impact news on the American trading session.
- The robot doesn’t use indicators from MT4 to perform.
- It focuses on where the price moves and opens deals in the same direction. It seems like it’s following a trend.
- The EA can trade any currency pair.
- The main currency pair to work with is Gold.
- The robot works on the H1 time frame.
- The minimum deposit should be from $100 for trading a single symbol with a 0.01 Lot Size.
- The robot works with any spread in pips.
- The EA wasn’t connected with any broker house.
Leprechaun Backtesting Results
It’s a screenshot of the MT4 backtest. The chart looks like an iconic scam. The robot traded Gold for three months on the M5 time frame. The spreads were insanely high – 50 pips. The initial deposit was $10000. The total net profit amounted to $5700. The Profit Factor was impossibly low (1.05). The EA closed 388 deals. The maximum drawdown was insane – 49.65%. The win-rate for Shorts was (38.55%). It was an epic fail. Longs’ one was 81.34%.
Leprechaun Live Trading Results
The robot runs a real USD account on WELTRADE automatically, using technical indicators with 1:500 leverage on the MetaTrader 4 platform. The account has a verified track record. It was created on October 12, 2020, and deposited at $15000. Since then, the absolute gain has become +156.38%. An average monthly gain is 37.44%. The maximum drawdown was insane – 79.79%.
The robot closed 832 deals with 26836 pips. An average win is 1325.7 pips when an average loss is -2660.05 pips. The win-rate is 65% for Shorts and 69% for Longs. An average trade length is two days. The Profit Factor is 1.22.
As we can see, only the Longs direction has brought profits – $56147.
The EA opens trades during the end of the European and the beginning of the American sessions.
The less traded day is Thursday (100 deals). It’s a weird statistic.
Leprechaun runs the account with the insane risk. For losing 10%, we have to lose only ten deals in a row. It’s just one or two Grids of orders.
As we can see, the robot uses Martingale in the Grid of orders to recover after losses.
The account has a high level of transparency. So, we can see open deals.
2020 was profitable.
January 2021 is profitable so far too.
Leprechaun Reputation
The developer focuses on the Russian community. There are many positive testimonials about the EA’s performance.
This person was mentioning that the EA would lose everything as soon as it reached a good counter-trend.
This comment explains that the EA couldn’t reach the mentioned level of profitability (25% monthly).
Leprechaun Review Summary
- Strategy – score (2/10)
- Functionality & Features – score (7/10)
- Trading Results – score (8/10)
- Reliability – score (6/10)
- Pricing – score (10/10)
Conclusion
Leprechaun is such a risky robot that unites Grid and Martingale during trading with high risk. It was designed to make profits on Gold. Trading results showed that only the Longs direction is profitable. The Shorts one brought huge losses. So, it means the EA can be stable in profitability. The price is impossibly low, and this warns us too much. Usually, the EA that works with gold has a price that starts from $400 until $25000. If we lose everything running our real account, we won’t be able to blame anyone but ourselves.
