Forex Impulse Trader has developed an innovation that allows traders to open two trades consecutively. The bot does this using different take profits, a genius 2-in-1 strategy of doubling up profit. We perform an in-depth EA review of the Forex Impulse Trader. We study its trading techniques, web page, stats, and user reviews.
What is Forex Impulse Trader?
This is a fully automated Expert Advisor that is part of a group of bots called Automated Forex Tools. The creators of this robot are experts in creating different bots to meet different purposes. Despite creating so many robots, we have no idea who the owners of the Automated Forex Tools are. Their origin is still a mystery.
The trader supports six currency pairs, including EURUSD, GBPUSD, EURAUD, USDJPY, USDCHF and EURJPY. Their most performing currency pairs are the EURUSD and GBPUSD. The bots work on the M15 time frame and use two take profits, FirstTrade_TP and SecondTrade_TP, to start consecutive trades on a win.
To use the software, you need between $50 and $70, depending on the discount in place when you purchase it. For this price, you gain access to one real account, two demo accounts. You also get detailed user instructions, round the clock support, lifetime updates and upgrades and a 60-day money-back guarantee.
EA Review: Forex Impulse Trader
This EA works by analysing market trends to ensure you enter a trade safely. The bot does this using the take profit technique that moves in one direction This increases profit by riding on the first trade’s success with a bigger investment.
The main problem with these trades is that the trader seems to be multiplying their risk factor, leading to an even larger loss. The creators haven’t explained the technique in-depth, which makes us even more sceptical about its performance.
EA Review: Statistics and User Reviews
Since the bot is one of many that Automated Forex Tools make, the interface looks the same as all the other bots they sell. The website was created by a professional, and they have the software in order.
The backtests that Forex Impulse Trader provided show a 90% modelling quality, which isn’t as accurate as of the 99.90%. We focus on one backtest with a spread of 10 and an expected 80.09 payoff. The expected drawdown is 22.67%, which is a pretty high risk on an M15 timeline. The expected results are quite favourable on the backtest.
There are no live trading accounts on Automated Forex Tools associated with Forex Impulse Trader. Why would a well-known forex robot creating company only provide us with backtests? We also couldn’t find any user reviews of this forex robot on popular user review sites.
It is quite hard to recommend software with sketchy origins, such as the Forex Impulse Trader. What makes it harder is the lack of verifiable reports from real, working accounts to show that the bot is legit. The lack of user reviews is the final red flag. Until such a time as the creators of this robot become transparent about their dealings, we strongly advise against trading this bot.