Bonanza EA is a trading solution that has a presentation on MQL5. The advisor was downloaded for demo usage over 400 times. It was released in August 2021 by Elizaveta Erokhina. We have several robots in the developer’s portfolio: Level Wizard EA, Candle Banker, Tiburon EA.
Bonanza EA strategies and tests
The presentation doesn’t look quite informative. It was a challenge for us to gather all the required details.
- It works completely automatically for us. We may just control its performance.
- We can work with XAUUSD only.
- “The EA uses complicated filtering techniques to search for the accurate entry and exit points.”
- The system opens long-term orders.
- There’s an algorithm that is based on price action.
- We are allowed to work, having no experience on Forex.
- It doesn’t use Grid or Martingale risky strategies to recover after a loss or make more profits.
- We can expect that the system will work with SL and TP.
- The starting deposit should be $1000.
- It works on the H1 time frame.
- We can work on ECN accounts only.
- It handles various broker conditions.
- We can install it easily.
The advisor got testing on the broker tick data for the last 16 years. The chart is good, but we have no final report about other trading details like drawdowns.
Bonanza EA live trading account review
The account was created just fifteen weeks ago. It’s a baby by a Forex life range. The system has to prove that it can handle various market conditions.
We’ve got a Demo trading account on IC Markets. The leverage is 1:500. The maximum drawdown is 22.5%. The deposit load is only 7%. The win rate is high – 99%. The initial deposit was $1,000. It can provide an absolute growth at 54.93%.
An average trading frequency is 8 deals weekly. The average holding time is 5 hours.
The advisor lost much in October 2021 and we don’t know if it will be able to recover.
The advisor has executed 104 deals with 99.03% accuracy. The best trade is $14.20 when the average loss is -$352.54. It’s such a big problem to recover after each lost deal. A recovery factor is 1.56 when a profit factor is 2.56. An average monthly profit is -0.66%. The annual forecast is negative, -8.02%.
It works with Gold in the Sell and Buy directions.
We have some warnings about the system executions.
The price decreased from $600 to $499 when the subscription became to cost $300 instead of $399 or $700. The system can be downloaded for checking settings and performing backtests.
Is Bonanza robot a scam?
Elizaveta Erokhina is a developer from Russia. Most likely the system is a scam because she decreases the price consistently because no one wanted to buy it for $1000 or rent for $700.
The client warned us that the robot is insanely risky because of deep SL levels.