Forex inControl is an automated forex trading system specifically designed for the MetaTrader 4 trading platform, operating seamlessly by autonomously executing and managing trades. The MetaTrader 4 platform is readily available for download at no cost from most forex brokers. Forex inControl robot offers a comprehensive set-and-forget trading solution, eliminating the need for manual intervention from the trader. Utilizing detailed instructions, the Forex inControl forex robot ensures a swift and effortless setup process, making it accessible to users with any level of trading experience.
Live Results
It’s reassuring that the developer has provided access to a verified Myfxbook account showcasing the most recent results of Forex inControl. While the performance appears promising, it’s advisable to monitor the drawdown closely, as consecutive trades veering in the wrong direction could lead to swift downturns. Nonetheless, the system has demonstrated resilience thus far, indicating potential under favourable market conditions.
Trading Strategy
As its name implies, Forex inControl is designed to manage drawdowns on your trading account by capitalizing on established trends across four different currency pairs. This approach diversifies your trading portfolio and spreads out the risk. You have the flexibility to set your maximum acceptable drawdown within the EA settings.
Forex inControl operates on the GBP/JPY, USD/JPY, AUD/USD, and EUR/GBP pairs. While these pairs may not offer the liquidity of major pairs like EUR/USD and GBP/USD, they typically feature relatively low spreads and ample volume. If desired and with sufficient experience, you can optimize and deploy Forex inControl on other currency pairs. Otherwise, it’s ready to use with default settings out of the box.
The Forex inControl robot offers three trading modes—conservative, normal, and aggressive—catering to different trading styles. However, finding the optimal settings may require some adjustment based on individual preferences, given the unique characteristics of each trader.
Forex inControl can function both as a standalone system and in conjunction with other EAs. It strategically enters the forex market based on its built-in algorithm, avoiding frequent order placements to wait for optimal entry points. While it’s possible to trade with multiple EAs simultaneously, caution is advised due to the potential for significant drawdowns.
All settings of the Forex inControl robot are externally accessible, allowing users to adjust them via the inputs window when attaching the robot to trading platform charts. Utilizing the MT4 strategy tester is recommended to backtest the software across various currency pairs and chart timeframes, enabling the discovery of settings that align with individual trading styles and goals.
While certain currency pairs are recommended, Forex inControl can be applied to other financial instruments. However, if experimentation is desired, starting with a demo account is advisable to assess performance before transitioning to live trading.
Back Testing
On the Forex inControl website, you’ll find some backtests spanning 14 years. However, the modelling quality stands at only 90%, indicating that the results may not be as precise as desired. To achieve the utmost accuracy, backtests should incorporate real tick data, variable spreads, as well as factors like commission, swaps, and slippage. Ideally, tick data would have been used to achieve a modelling quality of 99%. Without these elements, it’s challenging to draw meaningful conclusions from the Forex inControl backtests, as these factors can significantly influence the outcomes.
Conclusion
In conclusion, while the Forex inControl robot exhibits potential, there are areas where enhancements could be made. Money management could benefit from slight improvements, and there may be sensitivity to broker variations. Forex inControl operates as an automated forex trading system, offering diversity through trading multiple pairs and adaptability to individual user needs. It includes comprehensive support, licensing, updates, and a 30-day money-back guarantee without any questions asked. Testing it on a demo account is advisable to ascertain if the results align with your expectations.
