Bobber Lannister Review: Does It Win or Lose?

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Bobber Lannister

Bobber Lannister does not use martingale or other risky strategies and uses a magic number to identify trades across the MT4/5 platform. Traders can adjust the times they wish to start and stop the algorithm and set a custom max drawdown limit. Read our full review to know more about the system and its possible outcomes.

What is Bobber Lannister?

Bobber Lannister has the following features:

  • It comes with a custom time filter.
  • Traders can customize the lot size.
  • The algorithm can trade using the market and limit orders.
  • The indicator values can be customized.
  • Traders need an account with a leverage of 1:30 up to 1:500 for using the system.

Official Bobber Lannister website

The algorithm is available in the MQL 5 marketplace, where the developer lists all its features and provides a link to live records. According to the website, Arnold Bobrinskii is the author of the EA and has more than eight years of marketplace experience. There are no certificates available to verify this.

How can we use Bobber Lannister?

Traders can use the robot with the following steps:

  1. Make the payment on the MQL5 website
  2. Download the EA via the MT4 or MT5 platform
  3. Place it onto the charts to start trading

After scanning the market, the robot will place trades according to the set indicator values.

Pricing & refund

The robot is available for sale for a one-time price of 499 USD, and there are no rental options. The developer does not offer any money-back guarantee. 

Pricing of the robot on MQL5
Pricing of the robot on MQL5

Trading strategy

The developer only states that the robot trades on multiple currency pairs with a minimum deposit of $100. It does not implement martingale or other dangerous strategies and has a virtual stop loss and take profit for each trade.

The history on MQL5 marketplace shows us that the EA is a night scalper trading during the close of the NewYork session. We observe that the stop loss can be high at 30 pips with a small take profit of 3 pips.

Trading history on MQL5
Trading history on MQL5

Backtesting results have been provided for the robot where the currency pair is not shown. From the records, it can be seen that the initial deposit of $10000 was converted into a total net profit of $1916908.01. The largest loss value was $63905.37, and the relative balance drawdown was 25.12 %. The system has participated in a total of 4953 trades.

A screenshot of backtesting records on the MQL5 website
A screenshot of backtesting records on the MQL5 website

Current performance

Verified trading records are available on MQL5 marketplace that show performance from March 04, 2021, till the current date. The winning rate stood at 65%, with a profit factor of 1.29. The best trade was $23.49, while the worst was -$49.18. There were a total of 3652 trades. The developer made $200 in deposits. The system made a total gain of 121%, with a drawdown of 37.8%.  

The total gain from the robot stands at 121%. Contrasting it with the drawdown we get a risk-reward ratio of 1:3 for a single year. High leverage of 1:500 suggests that the algorithm requires a high margin to trade which may result in an increased downside in the future.

Live records on MQL5
Live records on MQL5

What are the real customers saying about Bobber Lannister?

14 customer reviews on the MQL 5 marketplace give the robot a rating of 4.54. One of the customers states that traders should think 10 times before purchasing the EA. The developer funds his account with money to hide the drawdown value.

Customer review on MQL5
Customer review on MQL5

Summary: is Bobber Lannister a trustworthy robot?

Bobber Lannister
3 5 0 1
Bobber Lannister does not come with good information on strategy and lacks proper backtesting results. The asking price of the robot is high at 499 USD. The current drawdown of the robot suggests that it can lose nearly half of the account value while trading.
Bobber Lannister does not come with good information on strategy and lacks proper backtesting results. The asking price of the robot is high at 499 USD. The current drawdown of the robot suggests that it can lose nearly half of the account value while trading.
3.0 rating
3/5
Total Score
  • Strategy
    2.0 rating
    2/5 Bad
  • Features
    4.0 rating
    4/5 Good
  • Trading results
    4.0 rating
    4/5 Good
  • Reliability
    3.0 rating
    3/5 Neutral
  • Pricing
    2.0 rating
    2/5 Bad

Like

  • There is a time filter

Dislike

  • Poor information on the strategy
  • No detailed statement with backtesting records
  • A relatively high drawdown
Total
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