Rad Hawk is an expert advisor that was published almost a year ago on MQL5. The system executes an unknown strategy on a demo account. So, in any case, the developer loses nothing even if the system fails. The growth chart shows that the robot doesn’t trade smoothly and predictably.
What is Red Hawk?
The advisor works unstable, allowing significant losses to happen. We are not sure that this is a safe trading solution.
- We can trade on the nine cross pairs at once: EUR/AUD, EUR/USD, GBP/USD, EUR/GBP, AUD/CAD, AUD/JPY, USD/CHF, EUR/CHF, and USD/CAD.
- The main time frame is short – M5.
- An ECN account is the must option to be profitable.
- The developer suggests we use IC Markets or Alpari broker houses. IC Markets has a good reputation among other broker houses.
- The account should have at least $250.
Official Red Hawk website
Wim Schrynemakers, the developer of Red Hawk, is from Malta. On MQL5 we see that he has over eight years of trading and robot design experience. Wim has 21 products in his portfolio and over 3K of friends on MQL5.
The Red Hawk presentation doesn’t look professional and informative enough. The developer should have written it in a better way.
How can we use Red Hawk?
We have some details and little pieces of advice given.
- The system works automatically for us. We have to do nothing in addition.
- We can use it on both MT4 and MT5 versions.
- It works with “a mean reversion trading system that trades during the quiet times of the market.” This period is between 11 p.m. and 1 a.m.
- We may use a VPS service to execute orders quickly – 4xhosing.
- The system knows how to close orders with profits instead of drawdowns.
- We can rely on SL and TP levels.
- It doesn’t work with Grid with Martingale.
- A well-designed filter to avoid high slippage and high spread periods is provided.
- We may trade with Lots fixed.
- The system includes dynamic lot-sizing based on the account balance.
- We may set various risks for various symbols.
Pricing & refund
The pricing goes down from $349 to $299. We have three subscriptions. A one-month subscription costs $110, a three-month – $199, and an annual – $249. There’s a button to download a system for free. The site doesn’t allow refunding.
- The system uses an unknown strategy.
- The time frame is M5.
- It works with nine cross pairs.
The backtest was based on the eight-year tick data. The risk level was set at medium. The total net profit has amounted to 221,118%. Red Hawk closed 5388 deals. The win rate was 77.95%. The Profit Factor was 2.42. The maximum drawdown was acceptable – 11.17%. The ROI was 2.74.
We have a demo ECN Pro account on the Alpari broker. The leverage is 1:500. The robot has been trading for 56 weeks. The signals from the system have high reliability. The maximum drawdown is 5.8%. The accuracy rate is 72.4%. The maximum deposit load is 7.1%. The account was created on July 24, 2020. The deposit was $5,000. The profit is $1682. The growth is only 33.65%.
The robot trades completely unpredictably on the account.
The system has closed 442 deals with a 72.39% win rate. The best trade is $43.19 when the worst trade is -$128.18. The gross profit is $4,785 when the gross loss is -$3,102. The maximum consecutive wins are 15 deals ($195.26). An average trade frequency is only four orders weekly. An average holding time is two hours. The recovery factor is 3.71. The profit factor is 1.47. An average profit is $14.88 when an average loss is almost twice more -$25.63. The annual forecast is 14.61%.
The EURUSD pair is much ahead in trading with 142 orders. The most profitable is GBPUSD, with 798 pips.
The system from time to time is warned by the MQL bot.
What are the real customers saying about Red Hawk?
We have a few testimonials provided. We can’t be sure that they are real after the trading results that we saw.
Wim has a 40,211 rate and 3357 friends. The rate of his products is 3.9.
Summary: is Red Hawk a trustworthy EA?Red Hawk
Trading Results2/5 Bad
- Backtest reports provided
- Demo account trading results provided
- No strategy explanations shared
- No risk or money management advice given
- Only demo trading results
- The system trades unpredictably
- High pricing
- Lack of people’s feedback