The forex market, with its fast-paced dynamics and vast opportunities, has long attracted traders seeking automated solutions to streamline their strategies. Among the myriad of Expert Advisors (EAs) available, Hippo Trader Pro EA V3.1 MT4 stands out as a robust, trend-following trading robot designed to optimize performance on the MetaTrader 4 platform. Tailored for currency pairs like EUR/USD and GBP/USD on the M15 (15-minute) timeframe, this EA promises efficiency, adaptability, and consistent results with a modest minimum deposit of $200. In this 1000-word blog post, we’ll dive deep into the features, performance, setup, and real-world insights of Hippo Trader Pro EA V3.1, equipping you with everything you need to decide if this is the right tool for your trading arsenal.


What is Hippo Trader Pro EA V3.1 MT4?


Hippo Trader Pro EA V3.1 is an automated trading system developed by Michela Russo, a name recognized in the forex EA community for creating reliable trading tools. This Expert Advisor leverages a trend-following strategy, focusing on the Asian and European trading sessions to capitalize on market movements. Unlike many EAs that rely on outdated indicators, Hippo Trader Pro uses modern market analysis techniques, including:



  • Volatility Analysis: Utilizes an Average True Range (ATR) filter to assess market volatility and determine optimal entry points.

  • Trend Prediction: Employs specific trend patterns and the Relative Vigor Index (RVI) oscillator to identify and follow the main market trend.

  • Risk Management: Features a default global stop-loss set at $1,000 per 0.01 lot to protect capital, alongside FIFO compliance for regulatory adherence.


Optimized for EUR/USD and GBP/USD on the M15 timeframe, the EA is designed for traders who prefer short-term trading with quick, efficient decisions. Its minimum deposit of $200 makes it accessible to both novice and experienced traders, though a higher deposit (e.g., $1,000) is recommended for optimal performance.


Hippo Trader Pro EA V3.1Key Features of Hippo Trader Pro EA V3.1


1. Trend-Following Strategy


The core of Hippo Trader Pro’s success lies in its ability to identify and follow market trends during the Asian and European sessions, which are known for their liquidity and volatility. By avoiding reliance on obsolete indicators, the EA uses a combination of ATR filters and RVI to make informed trading decisions, ensuring adaptability to changing market conditions.


2. Robust Risk Management


Risk management is a cornerstone of Hippo Trader Pro’s design. The default global stop-loss of $1,000 per 0.01 lot adjusts risk based on account size, safeguarding capital during unexpected market fluctuations. Traders can also customize parameters like lot sizes, risk settings, and spread limits to align with their risk tolerance.


3. High Adaptability


Backtested over 17 years (2003–2020), Hippo Trader Pro has demonstrated a favorable profit-to-drawdown ratio across various market conditions. Its ability to withstand stress tests, including spread widening and slippage, underscores its resilience and reliability.


4. User-Friendly Setup


The EA is designed for ease of use, with a straightforward installation process and customizable settings. Traders can adjust parameters like lot size, autolot, RVI and ATR periods, and maximum loss limits to tailor the EA to their preferences. A comprehensive user manual is typically included in the download package.


5. FIFO Compliance


For traders operating under strict regulatory environments, Hippo Trader Pro can be configured to comply with First In, First Out (FIFO) rules, making it versatile for global use.


Hippo Trader Pro EA V3.1Performance Insights


Backtesting Results


Hippo Trader Pro’s backtesting results are impressive, with a reported 77% win rate for trades conducted on EUR/USD (M1 timeframe) from 2003 to 2021. Key metrics include:



  • Total Profit: $10,268,484.33 with a $10,000 initial deposit.

  • Profit Factor: 3.82, indicating strong profitability relative to losses.

  • Relative Drawdown: 26.72%, which is moderate but manageable with proper risk settings.

  • Trades Executed: 8,644, showcasing the EA’s active trading approach.


While these results are promising, traders should note that backtests are conducted under idealized conditions and may not fully reflect live market performance.


Live Trading Performance


Live trading results, as reported on platforms like Myfxbook, show mixed outcomes. A demo account launched in June 2021 with a €10,000 deposit achieved a 13.44% gain by early 2022, with a 7.97% drawdown and a 68–76% win rate for long and short trades. However, some accounts experienced losses, particularly during significant market events like the EUR/USD drop in early 2022, highlighting the importance of risk management and market monitoring.


User reviews from 2021–2022 praise the EA’s consistency, with one trader reporting a 2205% profit in the first year across multiple pairs (EUR/USD, GBP/USD, AUD/USD, etc.). However, negative feedback points to high drawdowns during volatile periods, suggesting that traders should use conservative settings and avoid over-leveraging.


Setting Up Hippo Trader Pro EA V3.1


To get started with Hippo Trader Pro EA V3.1, follow these steps:



  • Choose a Reliable Broker: Opt for a broker with low spreads, minimal slippage, and fast execution. ECN accounts are ideal for this EA.

  • Install MetaTrader 4: Download and set up the MT4 platform if you haven’t already.

  • Purchase and Download the EA: Acquire Hippo Trader Pro from a reputable vendor like MQL5 or CheaperForex.com. The download package typically includes the .ex4 file and a user manual.

  • Install the EA:



  1. Copy the Hippo Trader Pro EA (.ex4) file to the MT4 “Experts” folder.

  2. Restart MT4 and drag the EA onto an M15 EUR/USD or GBP/USD chart.



  • Configure Settings:



  1. Lot Size: Start with 0.01 for a $200 account, or enable autolot for automatic adjustments.

  2. Risk Settings: Set risk levels based on your account size (e.g., 2% per trade).

  3. Spread Limits: Ensure trades only execute within acceptable spread ranges.

  4. RVI and ATR Periods: Use default settings unless you’re an advanced trader.



  • Run on a VPS: For uninterrupted trading, use a reliable Virtual Private Server (VPS) to keep the EA running 24/7.

  • Test on a Demo Account: Before going live, test the EA on a demo account for at least one week to familiarize yourself with its behavior.


Recommended Settings for EUR/USD and GBP/USD



  • Currency Pairs: EUR/USD, GBP/USD

  • Timeframe: M15

  • Minimum Deposit: $200 (recommended $1,000 for better risk management)

  • Lot Size: 0.01 per $200, or enable autolot

  • Stop-Loss: Default $1,000 per 0.01 lot

  • Spread Limit: 2–3 pips for ECN accounts

  • VPS: Recommended for continuous operation


Hippo Trader Pro EA V3.1Pros and Cons


Pros



  • Proven Track Record: 17 years of stress-tested performance with a high win rate.

  • Accessible Entry: $200 minimum deposit makes it beginner-friendly.

  • Customizable: Flexible settings for lot size, risk, and technical parameters.

  • FIFO Compliance: Suitable for regulated markets.

  • No Outdated Indicators: Uses modern ATR and RVI for trend analysis.


Cons



  • High Drawdown Risk: Live trading results show potential for significant drawdowns during volatile markets.

  • Limited Currency Pairs: Optimized only for EUR/USD and GBP/USD.

  • Mixed Live Performance: Some accounts report losses, emphasizing the need for careful monitoring.

  • Vague Strategy Details: The vendor’s explanation of trend patterns lacks specificity, which may concern advanced traders.


Tips for Success with Hippo Trader Pro EA V3.1



  1. Start Small: Begin with the minimum deposit and conservative lot sizes to mitigate risk.

  2. Monitor Market Events: Avoid running the EA during major news releases to reduce exposure to volatility.

  3. Use a VPS: Ensure uninterrupted trading with a reliable VPS.

  4. Regularly Review Performance: Check live results weekly to adjust settings if needed.

  5. Diversify Risk: Combine Hippo Trader Pro with other strategies to spread risk across your portfolio.


Is Hippo Trader Pro EA V3.1 Worth It?


Hippo Trader Pro EA V3.1 MT4 offers a compelling solution for traders seeking an automated, trend-following system for EUR/USD and GBP/USD on the M15 timeframe. Its 17-year backtested performance, accessible $200 minimum deposit, and robust risk management make it an attractive choice for both beginners and seasoned traders. However, the EA’s high drawdown potential and mixed live trading results suggest that caution is warranted. By using conservative settings, testing on a demo account, and monitoring market conditions, traders can maximize the EA’s potential while minimizing risks.


Join our Telegram for the latest updates and support


Happy Trading