Belkaglazer EA Review

Belkaglazer EA

Belkaglazer EA is a fully-automated Forex expert advisor designed for professional algorithmic traders. It is a robot that can trade using different strategies and is based on four logical models. The developer claims that the robot avoids risky money management techniques.

The MT4 version of this EA was launched on 6th April 2017, while the MT5 version was launched on 23rd November 2019. Both versions are available for the price of $19,999. This makes it much more expensive compared to the other automated trading systems on the market. There is a free demo version available for download, but the vendor does not have a refund policy in place.

Belkaglazer EA is a product from Dmitriy Shal, a Russian trader with programming skills and a bachelor’s degree in economics. They started trading in 2006 and have spent more than a decade building trading models, researching markets, and perfecting their algorithmic approach. 

Belkaglazer EA at a glance 

Price$19,999
Trading PlatformsMT4, MT5
Currency PairsAUD/CAD, AUD/NZD, EUR/USD, USD/JPY
StrategyBreakout, Momentum, Mean Reversion
TimeframeN/A
Recommended DepositN/A
Recommended Leverage1:50
Money ManagementYes

Belkaglazer EA functionality

There are four models for this EA, namely Price Channel, Pivot, Price Action, and PRNG. The first model uses horizontal low and high levels based on the minimum and maximum prices for a certain time period. For the Pivot mode, the EA uses pivot points for determining important support and resistance levels. 

The Price action model analyzes price shifts for a specified time period, while the PRNG model involves arbitrarily generating trading signals in a random direction. You can use this model for studying the market, Monte Carlo experiments, and making entries with risky money management techniques. 

Belkaglazer EA has several filters like trend filters, volatility filters, time filters, news filters, CBOE VIX filters, as well as Range/Hurst/RSI filters. The EA generates buy and sell signals with the help of a trading algorithm and executes them as limit, stop, or market order.

Belkaglazer EA trading strategy tests 

This EA follows Breakout, Momentum, and Mean Reversion strategies. The Breakout strategy is suitable for volatile markets characterized by drastic price shifts. With the Momentum strategy, the EA looks to place an order after a major positive or negative price movement. Mean Reversion strategy is also known as reversal or counter-trend. It is based on the assumption that the price returns to a mean value after a strong movement. 

Backtesting results of EUR/USD
Backtesting results of EUR/USD

From May 2003 to October 2019, the EA conducted 490 trades for this backtest. It had a win rate of 61.43% and generated a total profit of $6081.01. The relative drawdown was a little high at 22.25%, which indicates a risky strategy. There were 10 maximum consecutive wins and 5 maximum consecutive losses during the testing period.

What about Belkaglazer EA live trading results 

Growth chart of Belkaglazer EA
Growth chart of Belkaglazer EA

This trading account on Myfxbook has been active since November 03, 2016. It has conducted 1132 trades to date, winning 63% of them. Compared to the backtest, the win rate is slightly higher. At this moment, the total profit for this account is $719.12.

While the daily and monthly gains are 0.04% and 1.07% respectively, the drawdown is 32.65%. Such a high drawdown is an indication of a risky strategy.

Trading results of Belkaglazer EA
Trading results of Belkaglazer EA

We can see from the live trading history that the EA has suffered several losses in recent times. Some of the losses have been quite large, and the average gain percentage is not too high. 

Customer reviews 

There are no user reviews for this expert advisor on third-party websites.

Belkaglazer EA Review Summary

Belkaglazer EA
2 5 0 1
Belkaglazer EA is much more costly compared to other Forex EAs on the market. The vendor does not offer you the protection of a money-back guarantee. On top of that, the robot follows a high-risk strategy that leads to consecutive losses.
Belkaglazer EA is much more costly compared to other Forex EAs on the market. The vendor does not offer you the protection of a money-back guarantee. On top of that, the robot follows a high-risk strategy that leads to consecutive losses.
2/5
Total Score
  • Functionality
    3/5 Neutral
    This EA has some advanced filters and uses risk-management techniques.
  • Trading Strategy
    3/5 Neutral
    The trading strategies used by Belkaglazer EA try to take advantage of different market conditions.
  • Live results
    2/5 Bad
    While the robot has a decent win rate, it trades with high risk and is prone to suffering major losses.
  • Customer Support
    2/5 Bad
    You can get in touch with the vendor via MQL5 or email, but there is no live chat feature.
  • User reviews
    2/5 Bad
    At this moment, there are no user reviews for this expert advisor on third-party websites.

The Good

  • Verified trading results

The Bad

  • Hefty price tag
  • High drawdown
  • No money-back guarantee
Total
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