Forex Robots

Tioga Review

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Tioga

Tioga is described as a fully automated Night Scalper that works well on all major currency pairs. It trades on the M5 timeframe and trades all the symbols on one chart. The vendor explains that the system’s goal is to make small and steady profits.

Ozkan Kara is the vendor of this product. He lives in Turkey and has been creating trading tools for this market for 4 years now. Ozkan has only built only one system — Tioga, for the MT4 and MT5 platforms.

Tioga strategies and tests

The robot’s features, according to the vendor, are listed here:

  • It supports all major currency pairs, but the favorite ones are these 11 pairs: AUDUSD, CHFJPY, EURAUD, EURCHF, EURGBP, EURUSD, GBPAUD, GBPCAD, GBPCHF, GBPUSD, and USDCHF.
  • The minimum account balance is $300.
  • The advice is to use ECN brokers with low spreads and low commission.
  • You should ensure that your broker supports AlgoTrading with EAs.
  • It can work with any leverage, but the preferred one is greater than 100.
  • The EA applies fixed stop loss for each position.
  • It can work on VPS clearly.

Tioga uses two main strategies. One of them is night scalping, which entails looking for trading opportunities from small price movements at night. The EA initiates trades for 2 hours maximum, between 21:00-22:59 GMT (London Time). Each position is held simultaneously on each pair. The major strategy is mean reversion, especially at the end of the US session. So, this method dictates the direction of entering trades. The grid, averaging, martingale, or other dangerous approaches are not utilized.

Backtest data

Backtest data

The strategy of this system was tested between January 2021 and October 2021. This trading period is short, so we don’t think it can give us a clear picture of the EA’s long-term performance. The EA traded on 11 different symbols and used a deposit of $3000 to complete 1878 trades. A profitability rate of 99.15% was obtained, which led to a total net profit of $113,811.50. Consequently, the drawdown generated was 22.96%. This value indicates that not so many risks were applied during trading. The profit factor was 5.84.

Tioga live trading account review

Live trading stats on Myfxbook

Live trading stats on Myfxbook

These are the trading results for a demo account on Myfxbook. As you can see, the account was opened a few days ago and deposited at $1000. The robot’s trading activities lead to a profit of 0.45% daily, and the projected monthly profit is 1.36%. To date, the profit amount realized is $13.56, which has, in turn, grown the account’s value by 1.36%.

Trading performance

Trading performance

The EA has conducted 16 trades with 0.80 lots. The resulting win rates for long and short positions are 83% and 90%, respectively. An average win of 4.01 pips and an average loss of -0.05 pips have been reported. There’s a profit factor of 10.22.

Trading history

Trading history

The system uses varied lot sizes and different SL levels.  It holds each order for a short time, and small pips are generated.

Pricing

The current retail price of Tioga is $295, a price that is slightly above the average cost of EAs in this market. A 3-month renting option is also being offered at a cost of $95.

Tioga’s pricing plan on MQL5

Tioga’s pricing plan on MQL5

Is Tioga a good system to rely on?

We have traders who intimate that Tioga is a reliable system, and as mentioned earlier, the system doesn’t trade with risky strategies. Even then, you need to track its performance on Myfxbook for a longer period to get a true picture of its profitability potential.

Customer reviews

Tioga has 10 customer reviews on mql5, and all of them are positive except one. A trader opines he is very happy with the EA’s results despite losing money in December, a period when such losses are inevitable. The other clients acclaim the robot for its stable performance, little drawdown, and the author’s support.

Customer feedback on MQL5

Customer feedback on MQL5

Tioga

5

We have established that Tioga is running a demo account on Myfxbook, and according to traders, the system is lucrative. However, you have to keep in mind that the account has been active for only a few days, so we don’t know how it will perform in the future. The short backtest period further makes it harder to predict the efficiency of the strategy in the long run.

  • Live trading stats are present
  • Positive customer reviews
  • Short history of trading
  • No money-back guarantee
  • Backtest period is short
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