Powerhouse EA is said to be perfect for passive traders who desire to have the best auto-trading tool added to their trading arsenal. It conducts about 15 trades per month and has an average monthly profit rate of 5-8% using default settings on a $5k deposit.
The creator of this system is known as Ryan Brown. He claims to have been in this market for nearly two decades. The Comeback Kid EA, Vigorous EA, and Ranger EA are his other inventions.
This Forex robot was released into the market a few months ago and is claimed to apply unique trading techniques and mechanics unavailable in other EAs. We assess it to find out what the vendor means and whether the system is capable of growing your investment or not.
What is behind the Powerhouse EA?
Powerhouse works by automating the analytical and trading processes in Forex. It will use its inbuilt rules to activate trading decisions on your behalf.
Here are the major features of the system:
- It works on the MT5 trading terminal only.
- The system incorporates protective stop-losses.
- It is easy to install.
- It comes with flexible settings to accommodate low, medium, or high risk trading.
- The robot includes a PDF manual with helpful settings and installation videos.
- The dev provides free updates and support.
- The robot trades on 13 trading pairs, including AUDCAD, AUDUSD, EURUSD, GBPCAD, GBPUSD, USDCAD, USDCHF, USDJPY, etc.
- The minimum recommended deposit ranges from $5k, $10k, to $20k.
- You can use a minimum leverage of 50:1, 100:1, or 200:1.
This system works with 4 main strategies from its other EAs, namely CBK, Ranger, Gopher, and Vigorous. These approaches can supposedly run together impeccably on the same trading account and hence close out trades faster, decreasing your drawdown. You can work with all the strategies at once or pick the ones you love best. Though the devs don’t give specific details about these trading methods, we realized that the grid and martingale approaches are included as we evaluated the robot’s trading results.
Based on the info available on the official page, this EA was backtested for 19 years. As you can see in the screenshot above, the system used a $6000 deposit to carry out 20091 trades. It won 78.41% of the short trades and 78.28% of the long ones. The resulting net profit amount was $234350.91, which is quite impressive. A drawdown rate of 17.80% was generated, indicating that low-risk trading was employed.
Powerhouse EA is available for $497. A 30-day money-back guarantee is also provided.
Trading performance of Powerhouse EA
We have a demo USD account that was opened on December 2021 and deposited at $5000. So far, the EA has made a profit of $1666.66, growing the account by 33.34%. The current balance is $6666.66. The system makes a 6.19% monthly profit, which is well within the 5-8% threshold profitability rate the vendor claims it produces. A small drawdown of 12.50% has been reported.
There are 2157 implemented trades with average win rates of 67% for long positions and 54% for short ones. A profit factor of 1.95 shows us that the EA is relatively profitable. The traded lots are 44.13, while the pips won are 3381.8. Generally, a position is held for 8 hours and 23 minutes.
The system has generated profits this account throughout this year.
Short time frames were used in trading and many buy/sell orders brought in profits. Grid and martingale strategies are also employed.
There are several customer support options. One, we have an FAQ page that provides answers to some of the common questions traders may have regarding the product. You can also join the system’s Youtube channel and Reddit community to get help from the vendor and other traders. A live chat window is present as well. It helps you communicate with the support team one-on-one to get answers in real time.
Powerhouse EA has not been reviewed by customers yet. However, the vendor behind it has earned himself a good reputation among the trading community. As you can see in the screenshot below, he has a 4.6 rating on Trustpilot from 23 reviews. A majority of the traders say that Ryan is dependable and produces reliable and profitable EAs.