Forex inControl Reborn Review | Scam EA???
“Forex inControl Reborn” is an EA that has a mix of grid and martingale.
Upgraded from previous version and released as Reborn version.
The previous version destroyed a number of user accounts and had bad reputations.
Is “Forex in Control Reborn” really reborn as a “good guy”?
Price and Basic Information of Forex inControl Reborn
|With Accelerator||Without Accelerator|
|Number of real licenses||1||1|
“Accelerator mode” can be used by purchasing a $ 270 version that is $ 50 more expensive than the normal version.
As will be explained in detail later, “Accelerator mode” is very high risk and is not worth using. So purchasing the $ 270 version is nonsense.
■Supported currency pairs
1: 200 or more
■Recommended deposit amount
Note！）Grid and martingale EA are premised on a certain amount of equity drawdown, so it is very dangerous not to follow the recommended leverage and the recommended deposit amount.
■Money back guarantee
Money back guarantee available. However, during the 30 days, there is a condition of “malfunction” or “40% or more drawdown occurred despite operating with the recommended deposit amount”.
Live performance of Forex inControl Reborn
The graph depicts a beautiful asset curve that everyone wants to use.
EAs that use martingales and grid trades draw such beautiful asset curves.
In addition, the results of general users who operate EA simultaneously with two currency pairs of AUDUSD and EURGBP are also published.
EURGBP is the reason why there is no profit at all.
AUDUSD is profitable, but EURGBP has more losses.
Due to the confusion of BREXIT, EURGBP is a very dangerous pair.
If you use this EA, it is safer to operate with AUDUSD alone.
Trading Features of Forex inControl Reborn
This EA has both grid and martingale features.
Many common EA trade logics with grids and martingales are relatively simple.
On the other hand, the trade logic of Forex inControl Reborn is not simple but a little complicated.
The logic is a black box, but I found at least the following characteristics when I checked the transaction history.
|Open Date||Close date||Action||Lots||Open Price||pips difference|
|Close Price||Pips||Profit (USD)|
|02.16.2018 16:00||02.26.2018 09:32||Buy||0.15||0.7925||-||0.78915||-33.5||-54.41|
|02.21.2018 04:59||02.26.2018 09:32||Buy||0.15||0.7865||60||0.78915||26.5||37.15|
|02.22.2018 14:00||02.26.2018 09:32||Buy||0.18||0.78265||38.5||0.78915||65||115.76|
|02.26.2018 16:30||03.06.2018 14:08||Buy||0.15||0.78387||-||0.78137||-25||-41.66|
|02.28.2018 22:03||03.06.2018 14:08||Buy||0.15||0.77787||60||0.78137||35||49.38|
|03.01.2018 16:00||03.06.2018 14:08||Buy||0.16||0.77487||30||0.78137||65||102.35|
|03.08.2018 11:30||03.12.2018 05:00||Buy||0.15||0.78027||-||0.78677||65||97.34|
|04.03.2018 07:30||04.20.2018 04:43||Sell||0.15||0.76875||-||0.77121||-24.6||-32.69|
|04.10.2018 17:11||04.20.2018 04:43||Sell||0.15||0.77475||60||0.77121||35.4||55.76|
|04.13.2018 17:59||04.20.2018 04:43||Sell||0.16||0.77742||26.7||0.77121||62.1||101.03|
|04.19.2018 15:24||04.20.2018 04:43||Sell||0.16||0.77771||2.9||0.77121||65||104.24|
|05.30.2018 12:00||06.08.2018 11:21||Sell||0.15||0.75322||-||0.75759||-43.7||-65.42|
|06.04.2018 04:30||06.08.2018 11:21||Sell||0.15||0.75922||60||0.75759||16.3||24.52|
|06.05.2018 05:44||06.08.2018 11:21||Sell||0.18||0.76308||38.6||0.75759||54.9||98.88|
|06.07.2018 16:49||06.08.2018 11:21||Sell||0.16||0.76409||10.1||0.75759||65||104.01|
|06.13.2018 21:30||07.04.2018 04:33||Buy||0.15||0.75422||-||0.74097||-132.5||-202.77|
|06.14.2018 23:42||07.04.2018 04:33||Buy||0.15||0.74822||60||0.74097||-72.5||-112.19|
|06.19.2018 18:46||07.04.2018 04:33||Buy||0.46||0.73831||99.1||0.74097||26.6||113.51|
|06.28.2018 05:07||07.04.2018 04:33||Buy||0.3||0.736||23.1||0.74097||49.7||147.58|
|07.03.2018 05:21||07.04.2018 04:33||Buy||0.22||0.73467||13.3||0.74097||63||138.32|
|07.11.2018 01:00||07.20.2018 17:11||Buy||0.15||0.74366||-||0.74192||-17.4||-28.21|
|07.11.2018 20:31||07.20.2018 17:11||Buy||0.15||0.73766||60||0.74192||42.6||61.79|
|07.19.2018 20:07||07.20.2018 17:11||Buy||0.16||0.73583||18.3||0.74192||60.9||97.24|
|07.20.2018 05:05||07.20.2018 17:11||Buy||0.16||0.73542||4.1||0.74192||65||104|
|07.24.2018 14:00||08.10.2018 08:11||Sell||0.15||0.74058||-||0.73408||65||97.72|
|08.27.2018 17:30||08.30.2018 18:20||Sell||0.15||0.73418||-||0.72768||65||97.56|
However, this EA has a smaller rate of increase in lot size than other martingale EAs.
In the past transaction history, the maximum is about 3 times the initial lot.
Rather, it is rare for the lot size to increase. There are more cases where positions are opened with the same number of lots as the initial lot.
In other words, “Basically it is a grid trade, but depending on the situation, a martingale is adopted”
From the third position, the lot size and the timing of opening the position are adjusted according to the market situation, not a single logic. This is a good point.
There is a tendency that the larger the number of reversed pips, the larger the lot size.
Risk Management Method of Forex inControl Reborn
It is not possible to place stop loss at individual positions with parameters. In the first place, it doesn’t make much sense to set individual stop loss for the grid or martingale EA.
The problem is that the fifth position did not reach the take profit level of 65pips and the price continued to go backwards. If the price continues in the opposite direction of the position, relatively large drawdown occurs.
To deal with this risk, the “MaxDrawDown” parameter allows you to specify how much of the margin is at risk. If the equity drawdown reaches the specified percentage, all positions are closed.
In the vendor forward test, balance protection by “MaxDrawDown” has never occurred since February 2018.
Vendor’s sales sites recommended 35% of the risk exposure balance, and backtesting used 35% for the MaxDrawDown parameter.
However, in vendor forward tests, positions are not closed despite up to 38% equity drawdown. In other words, the vendor may have set a value of 40% or more in the “MaxDrawDown” parameter.
If the EA was running with 35% MaxDrawDown as recommended, there would be at least one occurrence of 35% decrease in balance.
Details of Accelerator mode
“Accelerator mode” is a setting that aims for large profits by temporarily increasing the lot size during periods when there is no strong trend in the market.
The period during which “Accelerator mode” is turned on can be left to the vendor settings or specified by the parameter. In addition, you can specify how many times the lot size is to be compared with the normal time by using the “AccelerationFactor” parameter.
According to the results of back tests for about four years from January 2013 to December 2016, turning “Accelerator mode” ON has gained 31 times higher profit.
However, from a long-term perspective, I don’t think there is a correlation between a specific period of every month and market volatility.
In the back test of the vendor’s sales site, a 15-year back test is also posted. Why isn’t “Accelerator mode” turned on in the 15-year back test?
The four-year back test with “Accelerator mode” turned on is applied with curve fitting (optimized according to the past market price), and may be beneficial only during that period.
By setting “Accelerator mode” to “Auto”, it seems that the time period chosen by the vendor can be set, but the reliability is unclear.
You can set the date range at your discretion, but it ’s difficult unless you ’re a very proficient user.
It is very dangerous to misunderstand that “Accelerator mode” is a useful function by looking only at the results of backtesting.
Above all, in the vendor’s Myfxbook release results, there is no phenomenon that the lot size increases in a certain period. In other words, “Accelerator mode” is turned off in the vendor forward test.
If “Accelerator mode” is a really reliable function, why doesn’t the vendor turn on the setting in the forward test?
Conclusion of “Accelerator mode”
Actually it is a very high-risk function and can only be used by very advanced users.
Rather, it can only be thought of as a function that vendors have been able to make backtesting results look better than usual.
Conclusion of Forex inControl Reborn
For the forward test, the maximum drawdown specified by the vendor (at least 40% or more) has not been reached so far, and the results are good. Considering the ratio between the monthly profit rate and the frequency of drawdowns, it can be said that it is a winning system for now.
Using a broker’s deposit bonus is an effective way to withstand the floating losses of martingale EA.
However, it should be noted that the deposit bonus of most brokers is counted only in the “how big position you can have” part, and the bonus will disappear if you lose more than the deposit amount It has become. That is, the bonus cannot endure the floating loss.
On the other hand, the deposit bonus of the XM standard account is designed to cover floating losses. This is a considerable advantage.
Account opening $ 30 bonus, double deposit up to $ 500, 20% bonus above $ 500 (up to $ 5000). This is in very good condition.