I spent a lot of time thinking about whether I should introduce the Ruby Expert Advisor to you. Reaching a verdict on it took quite some time, but now I’m ready to tell you my opinion. Here it is:
Let’s start with the live account statement. You can see at a glance that this forex robot probably uses a grid system, since the graph is quite pretty, with no drawdown (except for one which is quite incomprehensible given the ratio of the lot size to yield in pips).
Even if there are losing transactions we cannot see them because of the fact that all open positions are closed together. The good news is that we can see by looking at the transaction history, that this expert advisor is not using a martingale strategy. Grid-based strategies were used only a few times, too. It seems that after the second order is placed, the forex robot usually waits out any swings and does not open (or at least it hasn’t happened so far) more than two positions.
Its results are exceptional, but we can also see, that the associated drawdown (which in my opinion means the max floating value at myfxbook) was 67.5% so far. That’s quite nasty. Just a bit more, and you’re at 100% with all your money gone. However, if we halve the risk, or reduce it to 33%, we still get a quite profitable robot, with a more palatable level of risk. It’s still not something I would put my neck on the line for, but there are some people who are OK with that. The account has already survived for half a year, so it’s possible that it will last long. The capital can be withdrawn quickly, and then we’re only risking the profit. This could be the way to go.
It is possible to use this expert advisor even with relatively little capital. Based on the transaction history, it can work with the same level of risk that is used on the demo account with just 50 dollars. The developer says that it doesn’t matter what kind of account we put it to work on. I used an stp demo account from IC Markets.
It has an interesting pricing scheme: an annual subscription, 299 USD per year for two live accounts. At such a price, it’s worth trying out, especially since there’s a 30 day money back guarantee. There’s an even cheaper deal available for those wishing to use it on even more accounts.
You can find the Ruby Exprert Advisor’s website here, where you can buy it:
You can follow my demo account statement here: My own account runs with a 33% risk compared to the official live account. That’s why my profit is smaller, but it lasts longer: