EA Steady Growth Pro Logo
Price: $119

EA Steady Growth Pro

Added on March 20, 2013 09:05 AM
(3 / 5)
Trading style: trending
Currency pairs: GBPUSD,EURUSD
Money-back guarantee: 30-day
NFA compliance: No

The Steady Growth Pro is a relatively new EA which does not promise to earn hundreds of millions in quick time but to achieve consistent, systematic profits by trading trends in the forex markets. The main goal here is not huge - often risky - gains, but achievable profits with low drawdowns. Having said that, the system is certainly no slouch in the profits department either - it has been tested to produce over 100% profits per year.

Method

The Steady Growth Pro website is simplistic, and the trend trading strategy used equally so. However that is not necessarily a bad thing. In the complex world of forex trading, less is usually more and results from the Steady Growth EA bear this out.

Essentially, the EA waits on the sidelines until a good, low risk trend presents itself. Often the move will be the beginning of a confirmed breakout and lead to a position that enters near the bottom of the trend and exits near the top, with profits being locked in by a trailing stop that moves with the market. By looking for medium term trends like this, the Steady Growth EA experiences fewer false moves and tends to hold positions longer than most EA’s – average trade length is about 1 day. This is no scalper, and all the better for it.

The Steady Growth Pro has been designed to trade GBPUSD but may also work well with EURUSD, (however, doing so may conflict with the money back guarantee conditions). There is also a super safe setting which utilizes depositing some of the working capital into a savings account in order to keep money safe while not being traded.

The interesting thing about the Steady Growth Pro EA, apart from not being a scalper, is that it takes a rather different approach to money management. Yes, the usual risk management rules are there and users can alter levels of risk by per cent, value or number of pips. But, the Steady Growth Pro makers suggest that the only money used to trade the system is with the profits generated from trades. The makers suggest that 50% of capital is used to trade the system with another 50% going to a savings account. Then, once the account is 100% in profit, the capital can be removed and only the profits need to be risked. This is a clever strategy for limiting the risk to capital and one that would appeal to many traders. It is essential therefore to start trading the system during the most favorable conditions in order to get off to a good start.

Past Performance

Past performance of the EA Steady Growth Pro is shown to be excellent with a number of back tests provided on the Steady Growth website that have been run yearly.

The EA was able to produce a return of 90% during 2008, (a year when most markets were extremely volatile), and was able to do so with a consistent, smoothly sloped, upward equity curve. In fact, this was the case for all the years tested – 2007, 2009, 2010 and 2011.

Using the super safe setting, the EA also performed admirably with very low drawdowns. From January 2003 to November 2010, the super safe mode produced a return of 256.43% with a maximum drawdown of just 16.1%. Average trade length was seven hours with a profit factor of 1.52 and a monthly gain of around 1%. The statistics show a strong system that is conservative in its approach to trading and consistent with what the makers had in mind when they embarked on designing a ‘steady’ forex bot.

 

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2011

 

Future Performance

The back tests of the Steady Growth Pro EA are good however future tests are the most important consideration for any trading system.

The future performance of the Steady Growth bot is illustrated by a forward test that has been verified on myfxbook.com and shows a consistent performance with a return of 84.91% from June 2012 to date. Maximum drawdown during the period is only 9.13% with 59% profitable trades and a profit factor of 1.8. 393 trades have been placed over the period with an average duration of 1 day. The strong profit factor of 1.8 and expectancy of 4 pips are also stand out numbers for the system which are a result of the bot capturing a number of strong trends over the past year. Trend following systems usually have good profit factors (since profits are usually much larger over a small number of trades), so this is a good sign.

Once again, the equity curve for the Steady Growth Pro EA is very smooth with very little volatility, so the trailing stop exit of the bot must be working well.

Conclusion

The EA Steady Growth Pro is designed to produce steady, safe returns and on first inspection this is what it does. Although the website is basic and the strategy fairly simplistic, the results on the page are pretty strong when stacked up against other EA’s on the market. Some of the back tests seem a little too good to be true and there aren’t many future tests available but this is potentially a good bot with a simple strategy that performs well over different market conditions.

The forex market is flooded with scalpers so a trend follower (and one which trades for a good amount of time too) is a welcome addition. At $149 for a lifetime purchase of the bot, the Steady Growth Pro is one of the more affordable EA’s on the market and worth further investigation.


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