Gratified Long Term Day Trader is designed to work in all types of market conditions. It works on multiple currency pairs and capitalizes on the routine price movements of 14 currency pairs. The developer provides a backtesting report to understand the trading method of this trading tool. Its live trading results are present on the MQL5 site. They show that its profits are not very high and the system trades with a risky approach. Further, there is no money-back guarantee which raises doubts regarding the dependability of the product.
What is Gratified Long Term Day Trader?
There is not much info present on the features of this FX EA. From the details found on the official site, here are the main characteristics that the vendor focuses on:
- The FX robot is fully automated.
- It works on 14 currency pairs from one single EURUSD chart.
- The ATS uses the H1 timeframe.
- This FX EA is designed to use the daily movement of price for making entries and exits.
- It uses TP and SL for every currency pair.
- The FX robot is not influenced by the spread.
- It can work with a majority of FX brokers.
There is no info on the recommended deposit, leverage, etc.
Official Gratified Long Term Day Trader website
Scott Fredeman is the author of this FX robot. As per his MQL5 profile, he has more than 5 years experience in developing FX EAs. He mentions that he is passionate about creating the best trading tools that provide profits consistently for traders. He has made 8 products and 8 signals and is based in the United States. You can contact the developer via the messaging option on the MQL5 site or use the website address provided on his profile page. Other products of the developer are Midnight Blitz, Blazing Night Scalper, Aggressive Grid Sniper, and EA Monster.
How can we use Gratified Long Term Day?
As per the info provided by the author, the backtesting result he provides on the MQL5 site will help in knowing the working method of the EA. He states that minor losses are common with the EA. However, it has good recovery resulting in bigger profits. The system has 10 or more open orders simultaneously. Even if one pair is not working well, the other pairs compensate for the loss.
Pricing & refund
You can purchase this FX robot for $299. A free demo account is offered with the package. We could not find info on the features available with the package. There is no money-back guarantee which makes us suspect the reliability of the product. When compared to the market average, we find the price is a bit expensive.
According to the author, this FX EA uses a trend-based approach. He states that some of the symbols follow the trend while others counter the trend. The daily price changes are used by the system for making entries and exits. It adapts to the changing market condition and uses TP and SL level that work effectively for the volatility levels present.
A backtesting report shown above is provided by the developer. From the above results, we can see that the testing was done from 2010 up to 2021. A total net profit of 65843 was present and the profit factor was 1.20. For a total of 6335 trades, the maximum drawdown was 24.33% and the profitability was 54.11%. From the results, we can see that the profits are not very high and the drawdown is more than 20% all of which indicate a less than effective approach.
A live trading result is present for this FX EA on the MQL5 site. Here is a screenshot of the trading results.
From the above trading stats, we can see that the account that started in December 2021 with a deposit of $999.95, shows a profit of $167.25. The growth percentage for the account is 26.84%. A maximum drawdown of 16.3% is present for the account and the profitability is 56.5%. The profit factor value is 1.43 for a total of 108 trades. Monthly growth shows a loss of 4.31%. From the results, we find the profits are not high and the sample size is small. While the low profits denote an ineffective system, the small sample size makes it difficult to assess the system.
What are the real customers saying about Gratified Long Term Day Trader?
Unfortunately, we cannot find user reviews for this FX EA on reputed third-party review sites like Forexpeacearmy, Trustpilot, etc.
Summary: is Gratified Long Term Day Trader a trustworthy EA?Gratified Long Term Day Trader
Trading Results2/5 Bad
- It is a fully automated system
- Backtests and live trading results are present
- Trading risks present as seen in the backtest and live trading results
- No refund policy
- Pricing is a bit expensive