Forex Auto Winner Software uses a variant of the Ross Hook trading method. Ross Hook trading method is applicable to many markets. It can be applied to the forex market as well. Ross Hook pattern is considered to be a leading indicator and many pro traders use it in their trading. The Forex Auto Winner software developers thought of automating this method and were able to use statistical data to identify the best market conditions to apply the Ross Hook trading methodology.
Ross Hook is a chart pattern discovered by Joe Ross and explained in detail in his famous book, ‘Trading The Ross Hook.” Joe Ross is an editor at the Forex Factory site as well. However his Ross Hook trading method can be applied to any market. You can read this book if you want to understand how to manage these Hook trades once they are initiated plus how to manage the risk and take profit. Ross Hook patterns can be traded on almost any timeframe. But the higher timeframes are the most suitable for this chart formation. 123 formations with the Ross Hook can give you high probability trades.
However, not much has been revealed by the developers of Forex Auto Winner about the performance of their forex software. No mention is made of any forward test or any live trading results. The only thing that is revealed is that this Auto Forex Winner Software grows the account slowly and steadily with low risk. A backtest statement has been posted showing a backtest with 90% modelling quality.
Since there is a 60 days of no questions asked money back guarantee with this Auto Forex Winner Software, you can download it and forward test it on the demo account for one month to check what can be the performance of this forex robot. If it gives a return of more than 10% per month with a drawdown that is not kore than 5%, you can think about further testing it. However, if the return is poor and below 10% while the drawdown is above 10%, you should get a refund. When you download Forex Auto Winner v.5, you will also be able to download the User Manual as well that can help you in this regard. There are many pro traders who are interested in developing an EA on an indicator based on the Ross Hook Trading Methodology. If you are one of them, this Forex Auto Winner EA might be of some help as it is a Ross Hook Trading EA.