Powerhouse EA is a newly-launched expert advisor that combines the capabilities of four EAs, namely The Comeback Kid, Ranger, Vigorous, and Gopher. As per the vendor’s claims, this is one of the most advanced robots available to retail traders. They also claim that it is capable of achieving mechanics and techniques that other EAs cannot dream of.
Powerhouse EA strategies and tests
This EA has an easy setup process and each strategy only has a few settings so there is not much space for confusion. According to the developer, this robot is specially designed for passive traders. Apart from running 4 EAs in one place, it can also cross-pair take profit. By following this function, each strategy can shine individually and work in tandem to generate more profits.
You can only run this EA on the Metatrader 5 trading platform. The four EA strategies trade on 13 combined pairs simultaneously. You can choose to work with all the strategies or just the ones that you favor. The EA settings are flexible, so you can work with low, medium, or high risk. With the high risk setting, according to the vendor, you can win 5-8% per month.
This system uses protective stop-losses for risk management and you can customize them as needed. The vendor offers a PDF manual with helpful installation instructions and settings videos. For the high risk preset, you need at least $5k and 200:1 leverage. The recommended deposit for the medium risk preset is $10k, and the leverage is 100:1. With a low risk preset, you need 50:1 leverage and at least $20k.Some of the pairs supported by this robot include AUD/CAD, AUD/USD, EUR/USD, GBP/CAD, GBP/USD, USD/CAD, USD/CHF, and USD/JPY. We don’t know which timeframe it is most suitable for and the vendor has not clearly explained the trading strategy. As such, we have no idea about the indicators this system uses or how it identifies profitable trading opportunities.
On the official website, there is a link for downloading the individual backtests for all the component EAs. As such, we have no idea about the historical performance of this expert advisor. Also, we cannot compare it with the live performance to get a clearer picture of EA’s profitability.
Powerhouse EA live trading account review
Here we have a demo trading account on Myfxbook that was launched on 14th December 2021. It places its orders through the Trader’s Way brokerage with 1:200 leverage. To date, 1929 trades have been placed through this account, out of which 59% have been won by the EA. The win rate is not that high, but the profit factor is pretty decent at 1.97.
Currently, the daily and monthly gains for this account are 0.20% and 6.18%, respectively, which can be considered satisfactory. The drawdown of 12.50% is not very high and is indicative of a low-risk strategy. Powerhouse EA has generated a total profit of $1,541.98 through this account, which has experienced a growth of 30.84%.
As you can see from the recent trading history, the robot has a very high trading frequency. For the last 20 trades, it has used a lot size of 0.01-0.05. We can see that it occasionally suffers back-to-back losses. On average, it holds a trade for 9 hours and 11 minutes. The average win and loss for the account are 8.98 pips/$2.76 and -8.79 pips/-$1.99, respectively.
The current price of this Forex EA is $497. This is not very cheap compared to the market average, especially when you consider the fact that the live trading account has only been active for a few months. The vendor offers a 30-day money-back guarantee for this product.
Is Powerhouse EA a good system to rely on?
We don’t have the minute details of the trading strategy used by this system. Since there are no backtesting results, we don’t know if the EA is viable for the long-term.
At this moment, we don’t have any user reviews for this EA on trusted third-party websites. As such, there is no way to tell whether real users have had any success with this automated trading system.
If you require assistance, you can get in touch with the support team via live chat and email.