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Forex Nitro

forex-nitro1Forex Nitro is a little known EA that was made available to the public in August 2009.

It had claims of being the next MegaDroid, FAPTurbo and Pip Turbo combined. I have just realized that I didn’t give it the attention it deserved last year and only ran it on a demo account for a few days without really putting it through it’s paces. You’ll see below that it’s now been through my Forex Lab and come out the other side relatively unscathed.

Forex Nitro – The Essentials

  • Trades EURCHF pair M5 chart
  • Has Fixed Lot or Balance Percent risk levels
  • Optional Break Even setting can be applied
  • Optional Martingale system can be activated
  • Settings available for Take Profit, Stop Loss and others (so there’s plenty of space to play)

Since it’s been out for a while let’s see if I can find some reviews…

review-search Forex Peace Army are pretty reliable when it comes to solid reviews, however, they only had one for FX Nitro. Here it is: forex-nitro-review Reviews for this EA are scarce as hens teeth. I think it’s time to take this baby to the lab…

lab-results

Test 1: Independent Strategy Testing

2000-2009 Strategy Test results show growth from $10,000 to $30,360 at 98.42% accuracy.

backtest2000-2010View full 2000-2009 Forex Nitro Strategy Tester results

2009 Strategy Test results show growth from $10,000 to $10,117.90 at 83.08% accuracy.

backtest2009View full 2009 Forex Nitro Strategy Tester results

2010 Strategy Test (until 29th June) results show growth from $10,000 to $10,047.42 at 81.25% accuracy.

backtest2010View full 2010 (until 29th June) Forex Nitro Strategy Tester results

Test 2: Strategy Test Using Different Settings

Overall finding here are that it performs in a similar manner to the above results but with improved ROI.

Using 20% of account balance for each trade during a 2009 Strategy Test results show growth from $10,000 to $12,620 at 83.08% accuracy.

backtest2009-20PercentView full 2009 Forex Nitro Strategy Tester results using 20% of balance

Using Martingale system turned on with 20% of account balance for each trade during a 2009 Strategy Test results show growth from $10,000 to $13,199.90 at 83.08% accuracy.

backtest2009-MartingaleView full 2009 Forex Nitro Strategy Tester results using 20% of account & Martingale

Test 3: Live Test

Currently running Forex Nitro on Alpari UK trading 20% of account with Martingale System active. Testing started on 29th June 2010. Current results are as follows:


View our Forex Nitro Live Test Statement

Lab Result:

Update 22nd October 2010:

  • It’s not that this is a bad bot, the big loss that hit in early Sept caught a few robots out. It’s more that fact that it doesn’t trade enough to continue on with. “Life is short” as they say.

pass-fail

If you’ve used Forex Nitro before, please feel free to post a review below. Or, if you have any questions please ask them below.

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