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Shark EA

http://pipburner.com/ea-shark-7-0-independent-review-from-a-professional-trader/

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This is a review by a trader of the Shark 7.0 EA.

Pros:

 

+ Though I didn’t figure out what activates the logic, I like the idea behind. As it places orders only when the market moves quickly, there is a great probability given that either a sell or a buy order will close in profit.

(It is not possible to figure out the logic if it uses Artificial intelligence algorythms. And according to the information from their site it does so. Howe at least they may inform the buyers what kind of algorythm is used)

+ It uses pending orders only. I consider it to be an advantage, as it decreases slippage greatly.

(That is not necessary some brokers still have slippage on pending orders. So basically this will not compensate for bad brokerage execution)

+ trades two currency pairs. (That is a feature not  Pro)

+ It does not open more than one trade at a time. (That is a feature too not  Pro)

 

                                                                    Cons:

 

- As SL is placed very close to the market price, dishonest brokers may play dirty games.

(That is important as it is about very close orders to the price. Choose carefully the broker and always always monitor the execution. That is why you need to backtest with your broker tic by tic.)

(And of course you can't have something for nothing everything has its cost, here as thestrategy seeks for the tightest stop loss, that necessarily comes with costs: extra care and control over the execution). 

 

- I am certain that Shark 7.0 will not work with market makers, and results will vary from broker to broker.

(I agree on this, but I would add some market makers not all market makers, I think if you play with 0.01 lots as basic lot instead of 0.1 lot you may have less problems in the first time)

 

- The final version input parameters are limited to money management settings only. Other parameters are not accessible by the user and can’t be changed. To my mind that’s a bad thing for experienced traders as they don’t have much “space” to maneuver with their settings. Who knows, maybe they change that after seeing this post.

- The user manual does not include any information regarding broker and VPS requirements. That’s not a big deal for experienced traders but clearly, a disadvantage for newbies.

 

That EA has potential but extreme care need to be used when implemented.

I would add that the quality of the code is guaranteed as the EA is done by experienced traders and programmers.

 

We would negotiate for discount coupons for our members even one evaluation copy may be available to one of the most serious contributors on beathespread.com.

It is recommended to buy this EA (is someone is interested) and not to search free copies because of the support. The support is a critical feature and without support do not even think to let it trade for you. (Personnal opinion).

 

Comments

  • isuborsky 2678 days ago

    Josef

    "Shark 7.0 is a hardcore scalper and requires optimized trading environment. Dealer plugin, slow execution, high stop levels and bandit brokers will act like poison for this robot."

  • jaguar1637 2662 days ago

    Hi

    I got an email from Alexander, and the proposal of an evaluation version. I will put the guidelines for downloading them and will provide the link for the trial release (2 weeks). The link does not work for me

  • jaguar1637 2658 days ago

    OK

    I just installed Shark on a demo account and provide the account number to the copany.

    When I will get the authorisation tool to make trades, I will tell you

    all the best

  • jaguar1637 2657 days ago

    Hi all

    Activation of the Shark edition for testing  in PROCESSING !!!

    _____________________________________________

    Dear john

    Thank you for your e-mail.

    Your live accounts have been activated. Please provide me with an account name for your demo 2135660 account, so we could activate for you. The account name stands right after colon sign "2135660: _______"

    Please don't forget to provide us with links to review/promo pages on your website, and forward test links. Thank you.

    Best Regards,

    Andrew | ForexEASystems | www.forexeasystems.com

  • jaguar1637 2656 days ago

    EA SHARK IS ON  GOING !

  • jaguar1637 2655 days ago

    No trades yet

     

  • jaguar1637 2649 days ago

    Yesterday, just a buy stop.

    After thinking, it seemed there is an IA behind Shark EA. After one week, they were no trades, now, at the begin of the second week, there is only one attempt of a pending order

  • jaguar1637 2633 days ago

    Very Bad news on GBPUSD 30M with EA Shark

    5 consecutives bad trades !!