[editorial-rating id=”3399″]
Forex Fury requires a desktop version of the MetaTrader 4 platform to run successfully. You cannot run it on the MT4 app or the web-based MT4 platform. You are required to have your MetaTrader 4 running during trading hours for it to work.
Forex Fury breakdown
1. Development
Forex Fury is already five years in development.
2. Packages & Prices
You can opt to choose from the following packages:
- Gold, which provides you with the following: 1 live account license, unlimited demo accounts, free updates, high-performance settings, lifetime membership for a price of $229
- Diamond, which provides you with the following: 2 live account licenses, unlimited demo accounts, free updates, high-performance settings, lifetime membership for a price of $439
3. Pairs
| You can trade the following pairs on M15 timeframes: | ||
| GBP/USD | USD/JPY | USD/CHF |
| AUD/USD | EUR/USD | EUR/CHF |
| EUR/GBP | GBP/CAD | GBP/NZD |
| AUD/NZD | EUR/NOK | EUR/SEK |
| NOK/SEK | EUR/PLN |
4. Timeframes
Forex Fury runs and executes trades on the M15 timeframe.
Trading strategy
Forex Fury is a scalping trading system that trades around 0-7 times per day, depending on market conditions. It trades one hour per day with one pair to help ensure avoiding volatility. Trading hours are from 4 PM – 5 PM EST.
- Range filter
The range filter trading strategy is a solid addition to the software. Forex Fury’s history shows that it performs best in ranging market conditions, so by using the ADX indicator, the potential of trading in trending market conditions was drastically lowered. A vast majority of traders have been successfully using this trading strategy manually, but now this automates the entire process.
The image above shows how the ADX indicator has the ability to determine ranging market conditions, making it perfect for picking up fast winning trades with scalping. This strategy will attempt to filter out all trades during trending markets, which means that the frequency of trades will be lowered.
- One set of trades per day
One set of trades per day is a trading strategy that stops the robot from trading multiple times in the same period. A problem of opening a second set of trades immediately after closing the first was found by some of their clients in an attempt to gain extra wins. The success rate of the second set of trades was found to be significantly lower. To prevent the problem from continuously occurring, one set of trades per day trading strategy forces the robot to avoid taking additional risks.
- Reverse strategy
The reverse trading strategy was included in Forex Fury for traders that prefer optimizing profitable short positions.
- Dynamic retrace
Dynamic retrace trading strategy is used as a new stop loss. Individuals that aren’t satisfied with regular stop losses or trailing stop losses now have a unique solution. It works by using take profit modifications deep in trades in order to avoid losing more capital than recommended with intelligent risk management.
- Martingale
Martingale trading strategy is used to recover lost trades faster by increasing the size of trades after a loss occurs. This can be an advantageous strategy with the high win percentage that Forex Fury provides. If you are not a fan of this trading strategy, you always have an option to disable it manually.
- Long and shorts only
You can exclusively trade only short and long positions by using Forex Fury. It is not a requirement since it can be enabled and disabled by a user manually when decided.
A new version of Forex Fury is also in the making. It will provide the following:
- Market updates
- News filter
- Trend filter
- Hard Stop-loss/Take profit (not hidden)
Forex Fury backtesting
For Forex Fury, there are backtests running over 15 years of historical data on their website, but unfortunately, not all statistics are shown. You cannot see statistics like drawdown, profit factor, the win rate, for example.
Modelling quality and spreads can also not be verified, so there is no information if commissions, swaps, and slippage were included in the backtests. These are all vital statistics to consider when reviewing a backtest within the MetaTrader 4 strategy tester since they must be done in the best possible conditions.
Forex Fury live results
It is essential to keep in mind that any results shown by Forex Fury are based on historical data, which doesn’t guarantee how the robot will perform in the future. You should consider the risks while being involved with trading online.
Clients comments about Forex Fury
Forex Fury has excellent feedback from its reviews.
On Trustpilot, they have a large variety of their community giving positive feedback with an excellent score of 4.4/5 out of 175 reviews.
Most of Forex Fury’s community mentioned how it is very effective and successful if you put the time in and set it up properly.
On Sitejabber, you can also find many positive reviews about Forex Fury with an excellent score of 4.61/5 from 90 reviews.
Many comments from clients are positive primarily because of the consistency Forex Fury provides in the one hour per day that it trades.
Conclusion
In conclusion, Forex Fury is an EA that can hit more significant drawdowns at times, meaning that it can be a greater risk but potentially more rewarding. Despite all of that, their team is considering the comments from their clients and is working on developing better risk to reward ratios.
You receive full detailed instructions, support, free updates, and a money-back guarantee when purchasing Forex Fury. You can also find comments on Trustpilot and Sitejabber, where you can see a more in-depth discussion from their community. You also have a chance to reach out to the developer if you desire an answer to any specific questions since they state that they will do everything in their power to ensure their clients’ happiness.
Forex Fury is a consistent EA that is still improving, with the main problems being huge drawdowns and backtesting data lacking quality.
