Forex Envy is an expert advisor that uses a trading strategy based on advanced probabilities. Three Forex Envy live account statements have been posted on the third party myfxbook site. Forex Envy Trading Point System live account shows a monthly gain of 70.42% with a drawdown of 45.84%. Forex Envy Long Cycle System live account statement posted on myfxbook shows a monthly gain of 12.91% with a drawdown of 9.68% while the Forex Envy Long/Short Cycle System live account statement posted on myfxbook shows a monthly gain of 18.43% with a drawdown of 28.33%. You should take a detailed look at these three Forex Envy EA live account statements posted on the third party myfxbook site.
As said above, Forex Envy uses a strategy that is based on advanced probabilities. What the Forex Envy Team found was that each currency pair forms a unique pattern or what you call a signature in the market. Using these signature patterns, this forex robot makes a basket of trades that have a net profit. Now, this forex robot does not use scalping or high frequency trading as both these strategies are easily susceptible to broker manipulations like slippage, re-quotes, latency etc. You can take a look at the live account statements of Forex Envy Expert Advisor to verify that this is indeed a profitable EA with an attractive equity curve.
Most forex robots only use one core strategy. This lack of versatility is the most common reason for the failure of these robot when the market conditions change. So most of the time you will find these scalper robots and other specific market condition robots perform miserably on a live account. Forex Envy is neither a scalper nor it uses a short term trading technique. This is not a specific market condition robot. It has been developed to trade in all type of market conditions. It has been backtested thoroughly on the past 12 years of market data.
This forex robot has been designed to withstand all sorts of market crashes that took place since 1999 like the dot.com, crash, Sept 11th, stock market crash of 2002, global financial crisis of 2008, flash crash, Euro Debt Crisis etc. According to the Forex Envy Team the very first week when they started trading live with their robot, the market was hit with the Euro Debt Crisis and the Double Dip Recession fears. But their robot performed admirably.
Now, this is what the ForexEnvy Team propose. You should divide your capital into two equal amounts. Suppose, you have $10K available. Divide that into two amounts of $5K each. Deposit $5K into a savings account. Deposit the other $5K into a live account with a broker. Trade with this $5K using Forex Envy. Periodically transfer the funds from the live account to the savings account.
If you want to succeed with a forex robot, then you must test it thoroughly on a demo account first for at least one month. Once you have tested it thoroughly on the demo account and are satisfied with the performance only then trade live with it. When you trade live, always start with a small deposit that should be not more than $500. It is best to start with a deposit of $300. Aim for a gain between 20-50% per month. Let the robot trade and grow the equity. Periodically transfer the funds from the live account to the savings account as suggested above.
Now this EA requires specific account conditions in order to function profitably. For example, if you want to trade with a deposit between $300-$10K, you will need to open an account with Trading Point, Insta Forex, Profi Forex or Trade Fort as these brokers offer pico lots. Expect to make something between 25-35% return per month. The minimum deposit needed in order to trade live with Forex Envy Robot is $300 and you will need to open an account with anyone of the above brokers. There is a 30 days of 110% money back guarantee that says if you are not profitable with the EA in the first 30 days, you will get an additional 10% over and above the purchase price refund. This offer is available to both the live as well as the demo accounts.
Forex Envy PAMM Account
There is a Forex Envy PAMM Account also available where you don’t have to worry about the installation or the managing of the EA. The ForexEnvy Team will do everything for you. You don’t need to purchase the EA. However there will be a low performance fee of 15%. If there is no profit, this performance fee will not be charged.
Testing Forex Envy
As said above, this robot comes with a 110% money back guarantee for 30 days which applies for both the demo as well as the live account. What you should do is test it on a demo account for one month. At the end of the month, see whether it is profitable or not. If it is not profitable, go for the 110% money back guarantee and get your money back. In case, this robot is profitable, you can start trading live with a deposit of $300. As pointed out above, Forex Envy needs specific account conditions in order to be profitable. So, you will have to use any one of the brokers mentioned above if you want to trade live with Forex Envy.