Price Action EA by T. Rozehnal
The PriceAction System is created by Tomas Rozehnal and is a high quality Expert Advisor, robot based on his very own personal know-how, 7 years experience in full time FX trading and a lot of cooperation with hedge funds and other financial companies. Rozehnal personally trades the Price Action System mostly as semi-automatic system. However it is also possible to trade it fully automatically and take advantage of fast Price Action System technology. His personal active online mentoring and PDF document about his long-term experience and personal know-how are included in the price of Price Action System as well as any future update.
The entry conditions are based on a quite complicated algorithm. It usually opens a trade when the market starts trending supported by a strong move. The Price Action System opens a trade in the direction of the move. The system analyzes price and information gathered from the market every time the price changes. Thanks to that the system is able to enter the market extremely quickly and effectively.
The exit conditions depend on market conditions and if Rozehnal would like to trade it as semi-automatic EA or fully automated EA. In the case of fully automated EA he mostly exits a trade based on trailing stop and time exit combination. Both strategies and their settings are adapted to current market conditions. Of course, every trade has stop loss in the event of loss.
Rozehnal describes would say that it is trend following system. Price Action System is able to react extremely quickly so it usually recognizes short-term strong trends which are hard to find manually and which usually result in long-term trends.
Price Action System uses mostly trailing stops and inactivity stops. The key to success is to adapt to market situation and market moves. That’s the main point of my personal active online mentoring.
The system allows setting volume on every single trade. Rozehnal wanted to make sure that his clients will see true strength of Price Action System entries/exits when they will test it as demo version. So in his he does not use money management during testing. It makes results unreal and useless systems brilliant (it’s one of cheating tricks of professional EA sellers – but unsuccessful traders).
The maximum drawdown over 4 months of live trading is 3,77%. The risk/reward ratio depends on market situation – just take profits if market is giving them and keep profits grow. Rozehnal’s personal maximum drawdown was 18,75% trading with extremely aggressive setting – however profits were even higher than in the live trading account statement published here.
Price Action System was created for trending markets. During ranging markets it doesn’t trade (based on trading hours and also its own detection of ranging market conditions).
Tomas Rozehnal is a private hedge fund trader situated in Europe with over 10 years of experience in futures and stocks market and 7 years of experience in Forex. His motto: “It’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much you lose when you’re wrong” by George Soros.
Rozehnal has put much effort into developing his EA and supporting his customers. We need some more information before we can rate it. Unfortunately, there are no real money account statement available so far.