Leprechaun Review

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

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

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

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. 

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. 

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

Wednesday with 385 orders is the less traded day. 

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

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

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

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

Other notes

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