Leprechaun is a robot that was activated 100 times and was demo downloaded 501 times. The developer is Aleksei Zaitsev. He published the robot on September 1, 2020. The last version of the system (3.6) was released on September 23, 2020.
Leprechaun Strategies and Tests
The Leprechaun’s presentation is not informative enough. We have gathered all the important intel in this list:
- Leprechaun executes orders fully automatically for us.
- The system is designed based on the Grid strategy.
- It follows trend moves of the market.
- If changing direction occurs it executes “reverses the balance of trading positions in the trend direction and closes the whole grid of orders is a plus.”
- So, there’s a Hedge trading with increased Lots.
- The system focuses on opening orders mostly during the American trading session.
- It tries to close orders on the same day.
- The robot can use Martingale to recover after losses.
- A grid strategy requires the market to be in high volatility.
- The robot doesn’t require data from MT4 indicators.
- We can give it a try to trade other symbols but without settings provided.
- The system is not designed for trading during calm periods.
- The robot executes orders on Gold on the H1 time frame.
- The balance should be $100 or higher.
- We are free to use a broker house to create an account.
- The robot requires low spreads to be profitable.
We have a single XAU/USD backtest on the M5 time frame. It’s weird because the developer mentions the H1 time frame. The spreads were set at 50 pips. The period of data is from June to September 2020. The initial deposit was set at $10,000. The total net profit has become $5,787.36. The Profit Factor was only 1.05. It’s a mediocre number for a paid advisor. Leprechaun has traded 388 deals. The maximal drawdown was 49.65%. The win rate is scam-like too. The win rate for Shorts was only 38.55% when Longs was 81.34%. From the chart, we can see that in a short period, the robot has lost 22110-6080 = 16030 pips.
Leprechaun Live Trading Account Review
Leprechaun was set to trade on a real $15,000 USD account on a WELTRADE broker. It works automatically with 1:500 leverage on the MetaTrader 4 platform. The account has a verified track record. It was created on October 12, 2020. Since then, the absolute gain has become +307.3%. An average monthly gain is +22.98%. The maximum drawdown is 58.83%. It’s a significant drawdown. More than 20% is risky because there can be a Margin Call and Stop Out soon. Nine people check the account trading results.
There were 1360 deals traded with 53,062 pips. An average win is 1584 pips when an average loss is twice higher -3045 pips. The robot traded 198.27 Lots. The win rate is 68% for Longs and 64% for Shorts. An average trade length is three days. The Profit Factor is 1.20. It’s a low number for a Grid robot. An average Profit Factor for this type of EA is 1.60.
Only the Long direction is profitable – $78,220. The Short direction has brought -$32,126 of losses.
The active trading starts from 3 p.m. until the end of the American trading session.
The most frequently traded day is Monday (337 deals).
The system trades with high risk to the balance. Even with high-risk trading, the robot can’t provide solid monthly profits.
The robot works with nineteen Grid orders using Hedging at the same time. One wrong move and the robot can zero the account.
We may see open orders that the system tries to close in a profit.
As we may notice, the robot works with high risks but low profits. There’s something wrong with it.
The offer has changed from $49 to $100 and then to $33. It’s so ridiculous to see that way of price forming. Anyway, the system costs $33 for a lifetime digital copy. There are no rental options at all. The deal isn’t supported by a money-back guarantee. We can download a system for demo purposes.
Is Leprechaun a scam?
No, it’s not. The system is not a scam, but it is a risky trading solution.
There have been no updates since January 20, 2021. We don’t know how the system works on the people’s accounts right now.
The single negative comment mentioned that the developer could be a scammer.