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Deeptrader AI Reviews 2024: is worth it?
Dec
Deeptrader AI, priced at $799, is a sophisticated Expert Advisor (EA) that blends Artificial Intelligence with traditional technical analysis to predict market movements. It’s a novel approach in forex trading, leveraging Recurrent Neural Networks, particularly Long-Short-Term-Memory (LSTM) cells. These are trained using data from technical analysis indicators, helping the EA identify key indicators for future price movements. This article evaluates Deeptrader AI at mql5.com, weighing its high price and the newness of its signal account against its features and capabilities.
Features and Mechanics of Deeptrader AI
Key Features
- One-Chart Setup: Operates on a single chart, trading multiple symbols.
- Trade Panel: Offers complete control over trades, EA performance, and forecasts.
- ChatGPT Forecasts: Utilizes ChatGPT for live forecasts, aiding in trade decisions.
- News Filter: Filters trades based on financial news events.
- Fully Customizable: Adjusts to individual risk preferences.
Mechanics
- Position Management: Each position has fixed or trailing Take Profit and a fixed Stop Loss.
- Currency Pairs and Timeframes: Trained on EURUSD, AUDNZD, GBPCHF, USDCAD, but adaptable to other pairs and timeframes.
Input Parameters
- Trade and General Settings: Include lot size calculation, Take Profit, and Stop Loss settings.
- Recovery Settings: Offers a recovery mode for losing positions.
- ChatGPT and News Filter Settings: Provide additional trade filtering options.
Backtest and Performance
- Backtesting Period: From January 1, 2015, to June 31, 2023.
- Forward-testing: Conducted until September 2023.
User Reviews
- DrvilS: Found the EA profitable with satisfactory performance.
- Jacob: Anticipates positive results based on backtest and initial trades.
- Steven Gomez: Praises the EA’s support and backtest results, optimistic about live trading.
Pros and Cons
| Pros | Cons |
|---|---|
| Innovative AI integration | High price tag |
| Comprehensive trade control | Signal account still new, less proven |
| Customizable settings | Need for thorough understanding before usage |
| Positive initial reviews |
Conclusion
Deeptrader AI represents a cutting-edge approach in the world of forex trading EAs. Its integration of AI with traditional analysis is promising. However, its high price and relatively new signal account might give some traders pause. It seems suitable for those willing to invest in high-end tools and who can afford to experiment with newer technologies. As always, traders should understand the risks involved and acknowledge that past performance is not indicative of future results.
Interested in More Forex Trading Tools?
Discover a wide range of EAs, indicators, and forex trading tools at MQLShop, offering products from hundreds of different brands at affordable prices. Whether you’re a seasoned trader or just starting out, MQLShop has the tools you need to enhance your trading strategy.
