Forex Blog

First-hand Forex trading experience and information about foreign exchange market that will be useful to traders

Archives

My sRs Trend Rider 2.0 Test and Review

July 23, 2019 by

Disclaimer: I have received a free copy of sRs Trend Rider 2.0 for review, but I am in no way affiliated with Vladimir Ribakov.

sRs Trend Rider 2.0 is a trading system, which includes a set of expert advisors and indicators as well as an explanatory ebook. The main purpose of sRs Trend Rider 2.0 is to provide actionable trading signals for trader’s consideration and then to open and manage positions if the trader decides to follow the particular signal. The system was developed by Vladimir Ribakov from 2010 through 2016 but still remains an interesting and helpful algorithmic tool.

Vladimir is a self-taught Forex trader with 14+ years of experience both in retail trading and as a professional trader at a hedge fund. From studying the strategy and the tools provided, it is evident that Mr. Ribakov has put a lot of thought, efforts, and consideration into his work. So, let’s examine sRs Trend Rider components closer.

Expert advisors and indicators

The EAs, indicators, and chart templates, which come with the system, can be installed into your MetaTrader 4 either manually or using the automatic installer provided in the archive. The latter method might seem a handier option for users without experience installing custom MT4 programs. The installation and running process is explained very well in the ebook that comes with the system. When attaching the dashboard EA, you would need to enter your license details and you also need to make sure that DLL imports are enabled in the settings when you attach the programs to a chart.

It should be noted that enabling DLL’s in the custom EAs or indicators is potentially dangerous as the program can now execute some malicious code on your PC. However, when using MetaTrader programs from trusted developers, it isn’t an issue.

sRs Trend Rider is very easy-to-use — you don’t even have to read and analyze any indicators — the signals get generated automatically — and you just place a trade when you receive either an Aggressive or Conservative signal for a currency pair. The dashboard looks like this and can be customized using input parameters to show different currency pairs, disable aggressive or conservative signals, and for display style:

sRs Trend Rider 2.0 - Dashboard

When you decide to follow a signal, you just click ‘OPEN’ button next to the pair in the list and a new chart opens where you can either trade manually or place a trendline for an automatic breakout trade fully managed by the expert advisor.

sRs Trend Rider 2.0 - Placing a trade with a trendline in automatic mode

Opening the trade whenever the signal is generated looks to be a simple and very attractive option, but I didn’t get good results doing so. My best results with sRs Trend Rider have been when I switched to drawing a trigger trendline and letting the EA do its job.

A nice thing about this method of trading is that you can still change the stop-loss (setting it to some support/resistance level), take-profit, and risk per trade. By the way, the EA uses two take-profit targets — you can control what part of a position is closed at the first target and what part at the second one.

Important: The chart should remain open, the EA attached, and the platform turned on for the automatic stuff to work, including the take-profit. This means that using a VPS is more of a necessity than a luxury in case of sRs Trend Rider. However, stop-loss orders will be managed by your broker’s trading server, so once the trade is open, it isn’t affected by your platform being online or offline.

Ebook

The ebook that is bundled with sRs Trend Rider is rather long — 105 pages. But if you are not a complete newbie in Forex, you can skip a good half of it. The mechanics of the system are very well explained. The underlying indicators are also thoroughly described. An interested trader could even use those indicators separately from the system and develop their own tools based on them.

In addition to the basic explanations, the ebook also gives a lot of tips on how to trade with the EA and provides examples of trades.

Advantages

Overall, the system turned out to be very good. Here is what I liked the most:

  • All-in-one approach that can work if you add some discretion to following the signals.
  • The strategy is a real deal — it isn’t trying to mask a perpetual drawdown via some kind of grid or martingale system.
  • Nice interface, which is rather difficult to build in MetaTrader 4.
  • Everything works well and as intended — there were no really distracting glitches or critical bugs.
  • The instructions are very clear and detailed.
  • Lots of options for alerts — native, email, push-notifications; you decide what you want to be alerted about and you can also control the sounds used by the EA.
  • Built-in risk management with reverse martingale position sizing.

Disadvantages

Unfortunately, it also had some drawbacks:

  • Sometimes, you have to switch timeframes on the dashboard chart for the EA to refresh the signals.
  • Sometimes, a conservative trade signal on dashboard turned out to be a no trade or aggressive signal on the actual chart. This could be an issue with the chart data updating or it could be some minor bug in the EA.
  • The platform has to be on all the time for trades to execute properly and for the TP to be adjusted correctly.
  • By default, the platform gives lots of signals on many correlated currency pairs. It is necessary for a trader to be careful and avoid placing too many correlated trades with this EA as it may lead to an increased risk of ruin.
  • There is an ad for Vladimir’s website in the dashboard. I wouldn’t expect to find ads in a paid software.
  • There is no MetaTrader 5 version.

My test results

My test results of sRs Trend Rider weren’t stellar. What’s interesting, however, is that they accurately depict my learning curve with this EA. As you can see, they were poor at the beginning when I barely understood what I was doing and quite good after one week when I finally got the drift of applying its signals to the market:

sRs Trend Rider -  My demo-testing results

It should be noted that I’ve done my testing for almost two weeks on GCI demo account, which has 4-digit quotes and rather wide spreads (e.g., up to 5 standard pips on EUR/JPY). So, the results look good to me. Yet they also forewarn against using it carelessly and blindly following all the generated signals.

If I were to apply sRs Trend Rider to a live account, I would make sure I follow these rules:

  • Use only conservative signals.
  • Trade only uncorrelated low-spread majors: EUR/USD, GBP/USD, USD/JPY, USD/CAD, USD/CHF, AUD/USD, and NZD/USD.
  • Do not try to catch the falling knife — do not set up a trade if every trendline has been broken and the pair is in a free fall or soaring high in a rally.
  • The stop-loss should be positioned a little farther than the algorithm suggests.
  • The second TP can usually be moved farther from its default location.
  • Monitor the charts carefully for signals change — cancel out the trades when conservative signal changes to something else.

Is it worth getting?

Normally, sRs Trend Rider costs $297, so there is no point buying it if your trading capital is low. I would say that you’d need at least $3,000-$5,000 set aside for currency trading for the purchase of this system to be viable. As for the signals produced by the EA, I would say that they are definitely good. Nevertheless, a significant degree of trader’s own judgement is very important — and you won’t get that without at least some experience in trading. So, I would call it a good system for intermediate to advanced level traders but hardly a worthy investment for beginner traders.

If you have some questions about SRS Trend Rider 2.0 or if you want to share your thoughts on using this tool, please feel free to post a comment using the form below.

Leave a Reply

required
required (will not be published)