NorthEastWay is a fully automated “pullback” trading system that works on the M15 timeframe. It supports multiple currency pairs, and the developer advises traders to use one chart to trade all the pairs.
The current retail price of NorthEastWay is $9987, and the info is that only ten copies are left at this price. After these copies are sold out, the vendor will require you to pay $12483 for the robot. We can all agree that the EA’s pricing is exorbitant and way beyond what traders would consider fair. Worse still, a money-back guarantee is not featured. So, you cannot ask for a refund if the system fails to meet your expectations.
NorthEastWay trading strategy
As per the developer, this robot applies the pullback trading method on the AUDCAD, AUDNZD, NZDCAD currency pairs. In essence, it initiates trades when the price reverses after a sharp movement in any direction. No more details about this strategy are provided.
NorthEastWay features
The features of this robot are listed here:
- It trades on multiple currency pairs: AUDNZD, NZDCAD, AUDCAD, EURGBP, EURUSD, GBPUSD, USDCAD, GBPCAD, and EURCAD.
- You can run all the pairs from one chart utilizing the OneChartSetup.
- It is not sensitive to slippage, spread, or any other broker related variables.
- It is compatible with both the MT4 and MT5 trading platforms.
- The recommended leverage is 1:200 or more.
NorthEastWay backtesting results
We have the backtest results for the EA, but the trading period info is missing. What is clear is that the robot used a deposit of $100 to carry out 4395 trades. After winning 75.56% of the trades, a total net profit of $1009786.90 was generated. But the drawdown was high (66.46%), an indication that the strategy on board was very risky. The win rates for short and long trades were 75.02% and 76.22%, respectively.
NorthEastWay live trading results
This account was opened in August 2020, and the owner has invested a lot of money in it ($221,039.99). The robot’s trading activities have led to a profit of $58,240.62, causing the account to grow by 26.44%. A drawdown of 17.75% indicates that the account has not suffered excessive losses yet.
The EA holds trades for 2 days on average, and so far, it has conducted 1520 trades with 22379.1 pips. The average win is 29.18 pips, whereas the average loss is -31.85 pips. These values tell us that the system loses more than it wins. The win rate for long positions is 73% and 79% for short ones.
The AUDCAD currency pair was the most traded pair and the most profitable one with $18320.47 profits.
The EA engaged in risky trading as illustrated by large lot sizes, grid, and martingale approaches used. A TP feature was applied.
NorthEastWay reputation
Pavel Udovichenko, a Russia-based developer, is responsible for creating this trading tool. He claims to have more than 10 years of experience in developing trading systems for the financial markets. We can hardly verify this info since there is no supporting evidence. Pavel is also selling another robot known as LittleCrazy on mql5.
Based on the review section on mql5, NorthEastWay has received a total of 21 customer reviews. But as you can see below, most of the clients did not leave any comment on the rating. This is suspicious. There’s a customer who asserts that the robot works just fine, though.
NorthEastWay review summary
- Strategy – 2/10
- Functionality & features – 4/10
- Trading results – 5/10
- Reliability – 3/10
- Pricing – 2/10
NorthEastWay is overpriced and works with risky strategies. Though the live trading results show that it makes substantial profits, we are afraid that it can cause a trading account to suffer immense losses. In fact, the backtest data proves that the robot can generate a high drawdown in the long run.
