Tioga uses the night scalping method for its trading. It works on all the major currency pairs. As per the developer, Ozkan Kara, the EA uses mean reversion during the closing of the US session. The developer claims that the MT5 tool can make small and steady profits.
To buy this FX EA, you have to pay $495. Rental packages are present that cost $45 for a one-month rental and $95 for a three-month rental. You have to pay $195 for the annual rental. There is no info on the features available with the packages. There is no refund offer present for the product making us suspect the reliability of the EA.
Tioga trading strategy
As per the info on the official site, this ATS uses the mean reversion strategy. The developer claims that the approach does not involve dangerous methods like the Martingale, grid, and averaging. It uses fixed SL for each position. This MT5 tool trades for 2 hours between 21:00 and 22:59 GMT London Time. It holds only a single position at a time for each of the pairs it works on. As you can see, there is not much explanation provided on the approach used. The lack of transparency in the approach raises doubts about the efficacy of the software.
Tioga features
The important features of this FX EA that the developer reveals as making it competitive are:
- It can be used by beginner and seasoned traders.
- The software is easy to use as it has only a few input-parameters
- It works on VPS effectively.
- All major currency pairs are supported by the EA.
- A time frame of M5 is used and only one chart is needed for trading the pairs.
- A minimum account balance of $300 is required to use the ATS.
- The developer recommends the use of ECN brokers and brokers with low commission and low spread.
- A leverage of more than 100 is recommended.
Tioga backtesting results
A couple of backtesting results are posted on the MQL5 site. One of them using 7% risk is shown above. For the testing done from January 2021 to October 2021, the EA had generated a total net profit of $113,811.50 from an initial deposit of $3000. A total of 1878 trades were executed with a profit factor of 5.84 and profitability of 99.15%. A drawdown of 22.96% was present. From the stats, we can see that the profits are high and steady growth is present. However, the drawdown although not very high indicates a certain amount of risk.
Tioga live trading results
A live real USD account is present for the system on the MQL5 site. Here is a screenshot of the results:
From the above stats, we can see the sample is a small one having completed 22 trading days. It shows a 13% growth and a profit of $194.03 for an initial deposit of $300. A drawdown of 3% is present and the profitability is 97.1%. The total number of trades completed is 136 and the profit factor is 16.11.
Monthly growth of 13.37% is present. While the profits are good and the drawdown is low, the small sample size makes the results random. We need more long-term data to assess the performance and strategy.
Tioga reputation
Ozkan Kara is the author of this expert advisor. He is based in Turkey and has more than 4 years of experience. He has developed two products and one signal. There is no further information on the developer. For support, the direct messaging feature on the MQL5 site is the only method available.
Unfortunately, we could not find user feedback for this FX robot on reputed third-party sites like FPA, Trustpilot, etc. We found a few reviews on the MQL5 site. But since the site takes care of the promotion of the EA, there is a high chance of the reviews being manipulated. So we do not consider them.
Tioga review summary
- Strategy – 4/10
- Functionality & Features – 5/10
- Trading Results – 6/10
- Reliability – 4/10
- Pricing – 5/10
Conclusion
Tioga uses night scalping for ensuring steady but small profits. The developer provides backtesting results and a live signal for the ATS. While the profits look decent in the strategy tester reports and real-time trading, the sample provided is very small. It is not possible to evaluate the performance based on such a small trading sample. Further, the expensive pricing, lack of refund offer, and the absence of user reviews are other shortcomings that you need to consider while deciding on using this FX EA.
