TSFX EA is a Martingale trading robot. These can blow up your account in a matter of days. Although trading results are published on two statement sharing platforms Myfxbook and FXblue, there are lots of discrepancies. Therefore, it’s better to pick a robot that has proven and outstanding trading performance.
I’m reviewing a Martingale EA known as TSFX expert advisor. The Forex robot can be found at tsfx.online, a website that was anonymously created in November 2016 with the intention of selling copies of the TSFX EA.
Welcome to the TSFX EA review. The developer describes this Forex robot as having been designed with 2 Martingale algorithms at the core of its trading logic where orders are closed with reference to account balance and risk.
The strategy development team has apparently designed the TSFX EA to ”painlessly” exit draw down through an internal Martingale strategy that maximizes gains while the external Martingale strategy is equalizing and limiting the internal Martingale from large draw downs which may result from a large number of orders.
This description is quite cumbersome and it was my wish that the developer would have broken it down into smaller chunks that are easier to digest.
The developer of TSFX EA does not provide a physical address, only an email address at the footer of the site which can be used to reach them if there is need to.
Martingale systems are inherently risky since they have been shown time and again to cause harm to several trading accounts.
In fact, Martingale strategies are likened to gambling because of the way they open multiple orders at once and if the unexpected happens, the accounts suffers a major blow.
For that reason, I always implore the campforex.com community to use these Forex trading systems because they are more stable and all of them come with proven results.
TSFX EA Review
An experienced Forex trader like me will easily try very much to avoid a Martingale-based trading system regardless of whether it is viewed as a safe Martingale trading system or not.
The TSFX EA team has a 14-day trial and they seem to be confident in how their system will handle risks and draw downs that come with the core trading strategies that have been incorporated into this system.
They don’t offer their clients free trials and at the same time their developers aren’t giving us a sufficient chance to analyze the performance of their robots through audited trading statements on myfxbook.com.
One reassurance that they give us is that once we install the TSFX EA, it won’t require any extra action from us as it will automatically re-adjust risks according to our account balance.
Is this Martingale system any different from the rest that we have seen in the Forex market place before?
To figure out the answer to that question, I had to take a quick look at their performance analysis to determine whether TSFX EA is a little different from the losers.
But first, these are the details of TSFX EA
The EA comes with two different pricing models. For $249, we get a license for 1 live account and free unlimited future updates. For $499, we get 3 live accounts and free unlimited future updates.
The robot relies on the 15 minute time frame and is optimized for USDJPY but can trade other pairs as well.
The developer has provided screenshots with links to their Myfxbook and FXblue accounts respectively.
However, their myfxbook account is still new as it was created in October 2018 and has gained +13.59% with an overall draw down of 18%.
These gains are not bad but the sample data which I am dealing with right now in their Myfxbook account is very small. We cannot fully rely on 2 months data to make the conclusion that this Martingale trading system works and is reliable.
On the other hand, their FXblue account appears to have been established some 3 years ago since it has been active for over 1000 days.
Returns are quite attractive as TSFX EA is able to make 11% monthly returns with a draw down of 6% only.
However, a closer look into the FXBlue account reveals that the account has never recorded closed trades for the years 2016, 2017 and 2018.
This looks a bit suspicious. The last order was a Buy trade for EURGBP which was closed in December 12th, 2015. Since then, nothing has been recorded here. This makes me believe that the developer is trying to play games by tweaking some settings to make it look like the robot is profitable when the last order was closed in 2015.
Does it mean TSFX EA has not traded this account since then?
To find answers, I clicked the open orders tab and to my surprise, there were 11 open orders there.
This is a bit confusing because no one can explain why there are open orders at the moment and yet the last order was closed in December 2015.
It could only mean that the robot has not traded for at least 3 years now. The developer should explain why this is so, to make us understand what is truly happening.
To be honest with you, I don’t trust this Forex robot. From now moving forward, I am interested in closely monitoring their Myfxbook account to see how it will perform in the next couple of months.
The reason I choose Myfxbook instead of FXblue is because the former cannot be manipulated very easily and everything that I would ever need to analyze the capabilities of the TSFX EA is there.
Thank you for reading this TSFX EA review. If you have any remarks, add them below.