I have owned and traded the Kangaroo auto trading software since April 2012. It has been a fantastic ride watching my equity curve rise with very few, miniscule drawdowns!
N.B. Unfortunately, Kangaroo is no longer available for sale to the general public, although you can subscribe to its trades through TulipFX’s MAM account. See note below for more details.
This forex robot was designed with the following objectives in mind:
- It had to trade in a manner similar to that taken by a professional trader
- It was to embrace the principle of always trading with the trend
- Having determined the trend, the EA should only enter when price retraces, giving maximal entry for profit
- It had to avoid trading just prior to and just after scheduled news events deemed to have an impact on the market
The resultant forex robot was named the Kangaroo. It’s official vendor’s verified track record can be seen below from the Myfxbook widget:
As you can see it is a rather incredible steady slope upwards to the right of the chart, the type of equity curve that most manual retail traders can only dream of.
The two speed bumps it encountered early in its career were due to major adverse news announcements. This led to the development of a news filter which now keeps Kangaroo out of the market around these times. The result has been much smoother performance since the hiccups in early 2011.
Very few forex robots have effective news filters, and for me Kangaroo’s amazing news filter is a major selling point.
The EA is also programmed to reverse direction when it detects a sudden trend change. This means that if it suffers a loss in a savage pullback, and it determines that a new trend has been established, it may enter another trade in the direction of this new trend and go on to make a profit.
I have seen it do this live; very satisfying to watch!
Many robots have their code base cracked quite quickly. The code is then disseminated – i.e. stolen and sold on – and this dilutes the effectiveness of the EA over time. Kangaroo is very tightly protected code wise.
There is also a limitation on the actual size of the order that you can place using this robot. The limit should be more than enough for any retail trader, but was imposed as a precaution to prevent very large institutional traders placing monster-sized orders and in effect muscling the smaller Kangaroo traders out of the market. Yet another feature that is unique to the Kangaroo!
This strategy seems to have worked very well: I can say from my own experience that I have had a great time watching my account grow steadily with the Kangaroo.
One feature of the Kangaroo that I really like is the way it builds equity while trading infrequently. I must admit that automated forex trading systems that trade in a rapid machine-gun manner make me nervous. I personally like to be able to digest each trade before proceeding to the next. This is what the best forex traders and professional forex traders do.
There is a white paper available on the TulipFX website (warning: link subject to timeouts these days):
White Paper: http://tulipfx.com/downloads/KangarooEAv5_Whitepaper_Feb1.pdf
It is recommended reading for those wanting to take a look under the hood of this very successful forex trading robot. Note that some of the provisions for subscription, i.e. the monthly charge, no longer apply or are outdated. Still, the basic technical data remains relevant.
As to what performance you could expect from this automated forex trading system, the following is a quote from one of its creators:
“$10,000 would be expected to make $100/month on risk 1. Roughly about 25% a year return.”
(There are varying levels of risk, risk 1 being the lowest)
The following is a list of major features which I have extracted from the White Paper:
- Automatic detection and adjustment of deposit currencies
- Automatic detection and adjustment of Broker GMT Offset hours
- Protective News Algorithm automatically identifies important news items that are related to the pair and prevents trading around critical news events. Automatically!
- Auto adjustment for all types of brokers (DD, STP, ECN, etc)
- Auto adjustment for 4 or 5 digit pricing
- Clever and efficient Money Management modules
- Protective Stop Loss Algorithm and Recover Module
- Adjustable Trading Times and Trading Days
- Full HUD (Heads Up Display) shows all relevant information and settings
- NO MONTHY FEES, NO HIDDEN CHARGES, NO UPSELLS
One more feature that I really like is the Kangaroo Forum, where the two creators of the software – Ozzie and Dutch – moderate and answer all and every query promptly, effectively and efficiently. How many other EA’s out there do you know of that do this?
But really, if you’re in the market for automated forex system trading robots, you should check it out for yourself. I personally feel comfortable trading it, and Kangaroo certainly has ‘runs on the board’ with respect to performance over time!
n.b. The following announcements were posted on this review page in November 2012:
IMPORTANT NEWS: Kangaroo EA will no longer be available to the public after December 1, 2012.This is from the vendors:
“KangarooEA: Closing the doors..!
On December 1, 2012, Kangaroo celebrates its 2 year anniversary, and this seems a perfect moment for us to pull Kangaroo off the market and close new sales. This means that anyone who has purchased a license before that date gets to benefit from trading Kangaroo going forward.
No more licenses will be sold after December 1, 2012.
Moreover, we will increase prices from $499 to $999 on September 23, until December 1, 2012. We feel we have reached enough traders with Kangaroo and would like to continue with the current club of members we have. It’s becoming a great group of fellow traders who share experiences and views on our forum. The current numbers are manageable for us and we’d like to make the club exclusive and so close the doors.”
Click the following link to take a look at some other automated forex systems