Leprechaun Review

Leprechaun

The robot was designed to make profits trading Gold. It uses huge Grids of orders that can easily set the account at higher risks. Now, the robot trades against the market and we don’t know if it has closed a grid in a profit. 

Leprechaun at a glance

Price$33
Trading PlatformsMT4
Currency PairsGold
StrategyGrid, Hedge, Martingale 
TimeframeH1
Recommended Deposit$100
Recommended Leverage1:500
Money ManagementYes

Leprechaun functionality

We have a few details, settings, and features explained. 

  • The system can provide traders with automatic orders execution. 
  • This is a solid pro because we shouldn’t babysit the system. 
  • The core strategy is based on the Grid of orders strategy. 
  • It trades only XAUUSD on the American market. 
  • The advisor doesn’t like to keep orders overnight not to pay swaps. 
  • It makes money on the high volatile market. 
  • The system can be used on the MT4 platform. 
  • When the market is calm, it’s not okay for the robot. 
  • It is required to be used on an ECN account only. 
  • Gold is the only pair to open trades. 
  • The core time frame is H1. 
  • We may start trading eight as low as $100 on the balance. 
  • The system should be used with 1:500 leverage. 
  • We are free to use it on any broker we want. 

The developers decreased the price three times from $100 to $33. It’s hard to believe that the system that costs that little can be a good advisor. We have no rental options provided because of the cheap price. We can download the robot to check settings and execute some backtests. 

Leprechaun trading strategy tests

Leprechaun backtest
Leprechaun backtest

The chart of the backtest looks insane. We don’t know how this happened. So, this report was received after testing XAUUSD on the M5 time frame. We have no details about the modeling quality. The spreads were 50 pips. It was tested on the data from June to September 2020. The initial deposit was $10,000. The total net profit has become only $5,787. The profit factor was as low as 1.05. This advisor has executed 388 orders. The maximal drawdown was 49.65%. The accuracy rate was 38.55% for shorts and 81.34% for longs. We don’t know why they differentiated that much. 

What about Leprechaun live trading results

Leprechaun trading results on Myfxbook
Leprechaun trading results on Myfxbook

The advisor works on a real account that was created on WELTRADE. The leverage is 1:500. The system receives data from the MetaTrader 4 platform. The account has a verified track record. It was created on October 12, 2020, and deposited at $15,000. Since then, the total gain has become 556.75% when an average monthly gain is 16.23%. The maximum drawdown is 58.83%. We have fourteen traders track the account trading results. 

Leprechaun statistics on Myfxbook
Leprechaun statistics on Myfxbook

The advisor has executed 2,113 orders with 106,097 pips. An average win is 1,698 pips when an average loss is -3102 pips. The average win rate is 66% for longs and 65% for shorts. An average trade length is 3 days. The profit factor is 1.22. 

Leprechaun hourly activities
Leprechaun hourly activities

The advisor trades a whole day, focusing on the American trading session.  

Leprechaun daily activities
Leprechaun daily activities

Wednesday with 385 orders is the less traded day. 

Leprechaun risks
Leprechaun risks

There’s a 63.46% chance of losing 10% of the balance. They are high risks to the account balance. 

Leprechaun closed deals
Leprechaun closed deals

The system opens orders in both directions in a grid of orders. It does not trade with a fixed lot size.

Leprechaun open orders
Leprechaun open orders

There are over 60 orders opened on 22.84 lots. The system is going to lose them. 

Leprechaun monthly activities
Leprechaun monthly activities

The system has been waiting for half a year not to lose half of the account, over $45,000. 

Other notes

People testimonials on MQL5
People testimonials on MQL5

We have several positive and one negative reviews. So, it’s up to us to trust them or not to trust. 

Leprechaun Review Summary

Leprechaun
2 5 0 1
Leprechaun looks like a dangerous system that uses an insanely risky combo of Grid, Martingale, and Hedge, as an extra. So, it happened. The system has been sitting in drawdowns since the end of October 2022, waiting for a miracle. We don’t know if the account survived.
Leprechaun looks like a dangerous system that uses an insanely risky combo of Grid, Martingale, and Hedge, as an extra. So, it happened. The system has been sitting in drawdowns since the end of October 2022, waiting for a miracle. We don’t know if the account survived.
2/5
Total Score
  • Functionality
    2/5 Bad
    The robot has below average functionality.
  • Trading strategy
    1/5 Awfully
    It works with a Grid, Hedge, and Martingale mix.
  • Live results
    1/5 Awfully
    The account can be halved any time soon.
  • Customer support
    3/5 Neutral
    The dev provides average support.
  • User reviews
    3/5 Neutral
    We have both: positive and negative results.

The Good

  • A backtest report provided
  • Trading results shown

The Bad

  • No risk advice given
  • No settings details shown
  • The trading results reveal high-risk trading on the big account
  • No rental options available
Total
0
Shares
Leave a Reply

Your email address will not be published.

Previous Post
Zero to Hero FX Signals

Zero to Hero FX Signals Review

Next Post
Forex Pulse Detector

Forex Pulse Detector Review

Related Posts