Haru EA Review
The new Haru EA by Haru Miyagi is an automated trading system for the MetaTrader 4 platform.
Unlike many Forex robots it is a not a scalper (i.e. a robot that makes regular trades for small profits – often with a huge stop loss). Instead the Haru EA trades for longer periods of time, with much larger take profit levels and is therefore trading (at least in theory) closer to how most members of the Forex FX Trader site would prefer.
The marketing bumpf claims that this EA has over 9,000 lines of code and that the strategy adapts to current market conditions.
Does the Haru EA Work?
Like the new News Trade Sniper we just reviewed, this new EA doesn’t seem to have a lot on its website to back up it’s performance. The HTML statement only covers the 28th April – the 23rd May 2011, which is somewhat useless, although there is a screenshot from myfxbook on the site (why only a screen shot I am not sure…).
A look at one of the back tests on the site yields the following information:
- The EA wins about 50% of the time but has a sufficiently good Risk:Reward ratio to enable it to be profitable.
- The average win (in $) is $254; the average loss is $175.
- The other important variable to consider is the profit factor – a fairly low (but realistic) 1.47.
The other thing to consider from the back test image, above, is that the settings used produced a very flat equity curve for the first 231 trades! One would assume that the settings in this long back test would be the best the system creators found, so I would suggest that these are not too impressive, although this is only on the GBPUSD pair and the EA may have done better on multiple pairs.
Haru EA – Conclusion
Whilst I like the fact that this new EA trades with a sensible Risk:Reward ratio, the published data is not strong enough to make me want to use it. If more data becomes available, I might change my mind, but right now I believe that FX Integrator (backed up by live forward testing results) and the News Trade Swiper (which we will be testing) are the more interesting choices at this moment in time.
I hope you enjoyed this review of the Haru EA
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