Grey Wolf is an expert advisor working on two major currency pairs for which it has been tested as per the developer. It is a fully automated system that requires very minimal effort on your part.
Alexander Oropesa Marrero is the author of this FX EA. The author is based in Cuba and has one year of experience in developing FX trading tools. He has created 21 products which include Big Kangaroo, Bit Shogun, Lion Moon, Rey Toro, Treasure Seeker, and more.
As per the info provided by the author, this FX EA can generate more than 25% monthly profit with minimal loss. In this review, we have evaluated the various aspects of this FX robot to check the veracity of the author’s claim.
What is behind the Grey Wolf EA?
The author reveals very minimal information about the expert advisor. We could not find info on the working method of the robot, its setting parameters, a guide to set it up, and other related details. The absence of info raises doubts about the reliability of the system.
Some of the key features of this FX expert advisor that make it stand apart from its competitors are:
- It works on the AUDUSD and the USDCAD pairs for which it has been carefully tested.
- The FX robot uses the M5 timeframe.
- As per the author, the ATS can work with a minimum capital of $ 50 but he recommends using a minimum of $100 as the starting balance for better results.
- A VPS is recommended for uninterrupted use of the FX robot.
- A lot size of 0.01 for $100, 0.05 for $500, 0.2 for $2000 are recommended for this FX robot.
The author does not divulge the strategy used for this FX EA. There is no explanation of the approach provided on the official site. No backtesting report is present. To understand the working method of an EA and its efficacy, the strategy and backtests are vital. Although backtesting results do not predict the future performance of a system due to the use of historical data, traders prefer to use them to understand the strategy and its effectiveness. The lack of info raises doubts about the reliability of this FX EA.
To buy this FX EA, you need to pay $70. A rental package is available costing $30 for a one-month rental. The developer does not reveal info on the features available with the package. There is no money-back guarantee present which further strengthens our suspicions regarding the dependability of the product. When compared to the price of other competitor systems in the market, we find the price of this FX EA is not expensive.
Trading performance of Grey Wolf
No real trading results are present for the FX robot. The author fails to provide real trading results verified by reputed sites like myfxbook, FXBlue, etc. We prefer trading results verified by such sites as they reveal important info about the system such as its profitability, lot size, drawdown, the risk to reward ratio, etc. Such details help to know about the risk level of the approach and the performance of the system. The absence of verified real trading info prevents us from making a proper evaluation of the system.
For support, the author provides a Telegram link and a link to his social media profile on Twitter. The messaging option on the MQL5 site can also be used to contact him.
Unfortunately, we could not find user reviews for this FX EA on reputed third-party review sites like Forexpeacearmy, Trustpilot, etc.