Forex Robin VOL Logo
Price: $395

Forex Robin VOL

Added on February 20, 2013 02:26 AM
(4 / 5)
Trading style: breakout
Currency pairs: EURUSD
Time frame: M15
Money-back guarantee: 30-day
NFA compliance: Yes
License: unlimited

Forex Robin VOL EA is a fairly recent entry into the market of fully automatic EAs. It has been supported by Fmonera and Donna Forex. Here is a detailed review of the product, so that you can make an informed choice before you invest your money in it.

Basics - The Key Features and the Strategy Behind It

The Forex Robin VOL EA operates on the EURUSD M15 timeframe by default. However it can be optimized for different currency pairs and different timeframes. What is interesting about this EA is that it is not a signal type service and is fully automatic – which means you can set it and forget it – well, almost! The EA would identify the trades as well as execute it on your behalf. All you need to do is monitor the trades generated and tweak the settings to suit your style. It also holds trades for 18-24 hours on an average – thus the product generates a fair amount of stability, regardless of the broker you use.

On the flip side, it does not permit manual intervention. The developers say that manual intervention may make it behave erratically and hence it is not supported. However, in the next breath, they also add that it will be made available in future releases. Personally, it would be comfortable to have that option, so that one can intervene in a losing trade and close the position, in the event if the exposure gets too large.

The Forex Robin VOL follows a volatility breakout trading strategy – which means it identifies strong moves in the market and tries to get the maximum gain out of it. It is not a scalper strategy, and tries to catch a medium to large movement. Therefore, this EA gives its best performance in a trending market and takes drawdown on a ranging market. It creates positions in the direction of the breakout using two sets of strategies – both when the breakout happens as well as on retracements of the breakout. It keeps adding to the position as long as other conditions are met, in both cases. This is an attempt to maximize the gains during a trending market in order to make up for the drawdown in a ranging scenario.  

It does not follow a martingale or a grid style strategy. So, that’s the good news. A martingale strategy, though sound in theory, often does not work in the practical world where the resources (both time and money) are limited. It is a gambling strategy and the developers are wise enough to stay away from it. 

The EA also has other well defined risk controls in place. However, this does not mean that it is a fail proof EA. Even the developers do not claim that! This EA too has had its share of bad days – even, bad months, where it has lost money.

Backtests

It does generate fairly good results on backtest – in fact, the results are a bit ‘too perfect’ making me wonder whether the developers have consciously focused on ‘curvefitting’. The good thing is that they have worked on the model to make it robust enough to extend the backtest performance to real market conditions as well. The developers claim that they have used the model on their money accounts and tweaked it for more than a year and a half before deciding to launch it commercially.

The Forex Robin VOL website has detailed analysis on what you can expect from this EA, especially in the area of drawdowns. The 12 year backtests in the site for a $10,000 balance has a maximum drawdown of 16%. Don’t be alarmed though – the drawdowns were typically at single digit levels and have touched the maximum level only twice during the entire period.

The risk management rules have been developed primarily based on this 12 year period – which means that as long as the market conditions mimic something that has happened during the 12 year period, then you are in safe hands. The only thing to remember is that it is a long term strategy and hence measuring its performance over a few months, may not do justice to its philosophy.

2% Risk Backtest

Forward Tests

A demo account on Myfxbook.com to which the Forex Robin VOL is applied provides us with more information about this EA. The trade is with the EURUSD and has been live since August 2, 2012. It is currently running at a loss of 2.95 GBP against an initial deposit of 250 GBP. Since its activation, it has generated a total of 199 trades. A worrying sign is the number of losing trades has been at 59%.

While using a volatility based EA such as this one, you must remember that, you are not looking at a get rich quick scheme. The main goal is to protect the capital in a range bound market, so that there is enough account balance for the trades during strong market movements.

Since it is a low risk strategy with a long term account protection design motive, the profits are also not spectacular. Still, it offers at average of approximately 4% per month. Before you conclude that, it does not excite you – think about this - $10000 over a 12 year period could give you $2.4 million even with this kind of returns!

Although, it is not recommend, you can also use the Forex Robin VOL in an aggressive way – just make the lot size 3 or 4 times the recommended level and your account will show wild swings that can give you the adrenaline rush of a high risk high reward strategy. Do this at your own risk though, and if you have enough capital to tide you through the really worse drawdown periods.

 

Real Money Account 1

The first official account is founded with 3000 euro is working since the release of FOREX Robin VOL in July/2012.

– July/2012: Start with RobinVOL 1.6. Default settings, default risk (1%).
– October/2012: Upgraded to RobinVOL 2.0. Default settings, default risk (1.5%).

The server is Pepperstone Razor.

 

Real Money Account 2
 
This account is running RobinVOL 2.0 since the beginning (October/2012). Default settings and default risk (1.5%).
It was funded with 2000 euro.

 

Real Money Account 3
 
This account is running RobinVOL 2.0 at higher risk (risk=3).
It was funded with 3000 euro.
 
 
 
Forex Monitor Forward Test


Conclusion

Just as in the case of any other EA, even this one should be thoroughly tested on a demo account before trading on a live account. This EA has been designed with a long term profitability design goal, thus, you need to give it time before it starts giving you results. Therefore, understand how it works fully before you start running it live!

The refund period of 60 days should never be used to generate live trades – use it for testing the product and getting to know it well. If you are convinced about the product, then go ahead and start trading. If not, go ahead and request that refund.

The licensing model of this EA is fairly liberal and you can use one license for an unlimited number of accounts – both demo and live.

Price

The Forex Robin VOL EA has a subscription plan with a yearly rate of $395 for the first year and $195 for every subsequent year after that – just in case you like it really well and decide to be with it for a long time. I think that is the way in which they want to reward loyaltly in the rather fickle world of forex trading !

If you want them to manage your trading, they do it for $295 a year.


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