BuySellSeriesEA Review: Does It Win or Lose?

BuySellSeriesEA

BuySellSeriesEA is a fully automated system that employs a candlestick pattern and a news filtering system. It comes with multiple live account records that users can use to track its performance. Our article will discuss all the important features of the algorithm and consider if you should employ it on your charts.

What is BuySellSeriesEA?

BuySellSeriesEA has the following features:

  • It comes with many live trading records to verify its performance
  • It requires a minimum amount of $100 to work with
  • It has a news filtering system to avoid any uncertain market conditions
  • It comes with free 24/7 support

The developer does not provide any information on the leverage that traders can use. There is also no information on the currency pairs it can work with.

Official BuySellSeries EA website

The product is also available through the MQL 5 community, where we can find information about the developer. Chukwudi Joshua Obiekwe is the author of the product who resides in Nigeria. He has two products present in the marketplace and a total of 5 signals. The dev has more than three years of experience. However, he doesn’t present any previous performance records. 

How can we use BuySellSeries EA?

You can download the product after renting and purchasing it from the seller. Place the robot on the MT 4 platform. After you click on the auto trading button attach the EA to different charts to start trading.

Pricing & refund

The robot is only available through MQL 5 marketplace, which shows the price as $700. Traders can also rent it for 3,6, and 12 months for $250, $450, and $500, respectively. There is no money-back guarantee. The asking price is too high for a robot that is not transparent on a number of things.

Fee structure for the robot
Fee structure for the robot

Trading strategy

The developer states that the robot uses trend analysis based on candlestick patterns and doesn’t provide further information. To understand better, we use the history on Myfxbook, which shows that the algorithm uses a grid strategy. The lot sizes are hidden, so we cannot confirm if he employs martingale as well.

Trading history on Myfxbook
Trading history on Myfxbook

There are no backtesting records available. The developer says that most of the robots fail on the historical testing but work well on live accounts, and his algorithm is amongst them. He says that backtesting over-optimizes and is not enough to mimic the live markets. The only reason why he presents such a false statement is that his EA might have failed during backtesting due to the implementation of grid and martingale strategies.

Current performance

Live trading results are available on Myfxbook, which show performance from July 12, 2021, till the current date for BuySellSeriesEAMe. The robot had an average monthly gain of 79.91%, with a drawdown of 46.28%. 

Drawdown

The risk value is extremely high as the drawdown is nearly 50%. This means that during trading the EA losses much of the value of the account.

The drawdown value of the robot
The drawdown value of the robot

There were 574 trades in total, with 0.unknown lots traded. The expert advisor traded with a winning rate of 77% with a profit factor of 2.18. The best trade was $7.20, while the worst one was -$76.60. The duration of the results is too less.

Live records on Myfxbook
Live records on Myfxbook

What are the real customers saying about BuySellSeriesEA?

There are no customer reviews present on any forums, which shows that traders are unwilling to try an expensive robot that uses risky strategies.

Summary: is BuySellSeriesEA a trustworthy robot?

BuySellSeriesEA
2.4 5 0 1
BuySellSeriesEA does not satisfy us with the use of a risky grid strategy. There is a chance that the robot will result in a margin call in the future. Traders should avoid algorithms that do not provide enough information on the strategy beforehand.
BuySellSeriesEA does not satisfy us with the use of a risky grid strategy. There is a chance that the robot will result in a margin call in the future. Traders should avoid algorithms that do not provide enough information on the strategy beforehand.
2.4 rating
2.4/5
Total Score
  • Strategy
    2.0 rating
    2/5 Bad
  • Features
    3.0 rating
    3/5 Neutral
  • Trading results
    3.0 rating
    3/5 Neutral
  • Reliability
    2.0 rating
    2/5 Bad
  • Pricing
    2.0 rating
    2/5 Bad

Like

  • Customer support is available readily

Dislike

  • Live results are for a short duration
  • It does not explain the trading strategy properly
  • There are no backtesting results available
Total
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