What is the Forex CarinaBot EA? + pros and cons about this EA

Getting to know CarinaBot in 2023

CarinaBot is a fully automated and advanced robot that execute trades based on trading algorithms to identify trend and your financial management settings. This robot performs perfectly in EUR/USD and is suitable for beginners, new investors, and professionals. For more information, please stay with us!

How to work with CarinaBot

We suggest you read the article “What is a forex robot” before reading the forex CarinaBot robot installation tutorial. To use Carina Bot, you need to go to the main page and then click on the “Start” option to enter the page below. It’s time to enter your email to complete your initial registration and access your user panel.

How to work with CarinaBot

Then, go through complete personal information. As you can see on the page below, you must enter your name, last name, accurate address, and postal code and click on the “Next” option to be directed to the next level.

How to work with CarinaBot part 2 1

In the next level, you need to determine your phone number, account password, and base currency; click on the “Next” button.

How to work with CarinaBot part 3

In this stage, your registration is completed, and then you will be asked to choose one of these two predetermined trading accounts: a demo account and a live trading account to start trading. We suggest you first use the demo account in order to make sure about the robot and test it accurately.

How to install CarinaBot

Once your registration is complete, you will have a user account on the Carina-Bot website and an automated account with the Torobase broker. By clicking on “Go to Dashboard Account,” you will be directed to your Torobase broker account. It’s important to note that Carina-Bot can only be used with a specific broker and does not have the capability to be installed on MetaTrader.

The best trading session for using CarinaBot

The CarinaBot gets Its best results when it is activated on the New York session. All its calculations are based on the divergence of EUR/USD, so the best trading session is when the New York market opens.

The best trading symbol for using CarinaBot

As far as the trades of Carina-Bot are executed based on EURUSD currency pairs, the best trading symbols that you can choose include AUD/USD, USDCAD, EURUSD, GBPUSD, etc.

The performance of the CarinaBot

There are some graphs on the Carina-Bot website that indicate the profitability and performance of the robot, but the user’s comments show that the graphs are not that real.

New Project 4

Most traders who used the CarinaBot said that the performance of the robot is much weaker than the company advertised. Also, as the robot doesn’t have any graph on the MyFxBook website, we can not rely on its graph.

The trading strategy of Carina-Bot EA

As the creator company claimed, its trading strategy is based on comparing price differences between currency pairs from EUR/USD and identifying harmonic patterns and important market patterns for trading.

The bot considers the average divergence relative to EUR/USD and looks for confirming harmonic patterns. Finally, it executes trades at a suitable moment.

The Advantages and Disadvantages of CarinaBot

Now we can mention the advantages and Disadvantages of CarinaBot.

Advantages of Carina robot EA

  • No access to your capital؛
  • Payment after gaining profit؛
  • Regular updates.

Disadvantages of CarinaBot

  • Manipulated graph results؛
  • Limited in one broker؛
  • There is no possibility of installing it on MetaTrader.

What we read in this article about Carina-Bot EA:

Overall, the users’ experiences are almost positive; however, they complained that the available results are much weaker than what the company provided. Also, as it’s limited to a poor broker, you can not rely on it completely. If you are interested in basing your trading strategy robots on forex robots, we suggest you check out the MyFXBook site.

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