Good Morning Ultimate EA myFXbook review
A classic Expert Advisor without martingale, grid and other dangerous systems is Good Morning Ultimate EA. We will review myFXbook monitoring of this trading bot, and also try to reveal the secret of its trading strategy – how effective and profitable it is.
MyFXbook review Good Morning Ultimate bot
So, first of all, we go to the myFXbook service and find the current monitoring of this trading bot. Recall that this is a classic trading bot without a martingale and a grid, so we will not expect mega-profitability from it.
We find several myFXbook Good Morning Ultimate EA FREE Download monitorings at once and select the monitoring with the highest profitability of 104%. This monitoring has been conducted since 2020, that is, at the time of the review, this expert advisor for trading on the morning flat has been working for about 2 years. Profitability is small, however, we remind you that this is a classic robot whose strategy is breakout of the morning flat. Therefore, we will not expect super-profitability from it.
Monitoring is carried out on a real real account of the ECN type (a special type of account with an ultra-narrow spread, which you can find with the broker ICMarkets). The balance of this account is about 200,000 Japanese yen. This is about $1500 at the current exchange rate of these currencies. And this balance is quite large and tells us that the developer trusts his trading bot, so we can trust this bot.
Good Morning Ultimate bot trading time is the Asian session. So, this robot can be attributed to Asian scalpers. This is a fairly profitable strategy, we know about it personally, because on our site you can find several Asian scalpers at once that give good profits – these are The Rocket EA and Angler Fish EA, for example.
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More about the Good Morning Ultimate EA strategy
So, the meaning of this trading robot is scalping volatility on horizontal price channels that traditionally appear on the market during the Asian session.
The technical indicators of this bot are not very high, evaluate them yourself:
The profit factor is only 1.24 (this is low and indicates that the trading bot makes a profit, which is only 1.24 times the loss). Although this is a trading bot with classic money management, which has Average Win: 35.78 pips / Average Loss: -22.51 pips. That is, he uses a short stop loss, the size of which is less than the size of the take profit. With such indicators, it is difficult to get a big profit during the morning flat.
At the same time, the average time of holding orders in the market for this breakout of the morning flat bot is very, very long and averages about 10-15 hours:
Trading is carried out on currency pairs in which the Japanese yen is present, that is, on assets that begin to move most actively during the Asian session. We remind you that this Forex software works according to the breakout of the morning flat strategy, that is, it scalps a breakdown of the flat (price channel that occurs for some time during the Asian session).
Our opinion on Good Morning Ultimate EA
So, this trading robot is significantly different from most other bots and brings real profitability, which is confirmed by real Good Morning Ultimate myFXbook monitoring.
We recommend using it to expand your trading portfolio. This expert can be given about 5% of your capital. It will give little profit. Moreover, it has drawdowns that can last more than six months, but in the long run, this breakout of the morning flat has proved its effectiveness – on the Good Morning Ultimate EA FREE Download profitability chart, you can see two growth waves that take new peaks. And most importantly, it is a safe robot that will never kill your deposit because it uses Stop Loss and Take Profit orders.