Forex MegaDroid Review - Mega Success or Mega Hype?
An expert adviser called MegaDroid was released recently. The developers claim that it has 96% success rate. In this article I would like to give some overview of this EA as well as my own trading results with it.
How MegaDrod Works
Many automated trading robots are notorious for losing money once the market conditions start to change. However developers of MegaDroid claim that it uses so called “market adapting intelligence” that makes it to adapt to changing market conditions.
As we can see from this fancy name of algorithm it should help this EA to adapt to changing market conditions. Another interesting feature of this robot is that it predicts the nearest future price action in the next 2-4 hours. This algorithm they call “reverse correlated time and price analysis” (RCTPA).
Overview of MegaDroid
Of course there is no “Holy Grail” in Forex. However some tools may have potential to help you to succeed in Forex market. Looks like MegaDroid is one of them.
Advantages of MegaDroid
Most trades are winners
I’m running a test with MegaDroid for about a month by now and it didn’t make any losing trade yet. All of them were winners.
Has an option automatically pick the position size
There is an option that allows you to set the automatic position sizing according to our chosen risk level or set fixed position size.
Stealth mode
This mode hides your S/L and T/P levels from your broker. However this mode can be dangerous if you lose connection to the server. Your position will be left unprotected.
MegaDroid Disadvantages
A big flaw if you want to call it is that MegaDroid doesn’t trade very often. Since high success rate means waiting for perfect setup to occur in the market. It also depends on brokers. On my account it averages 1 trade per week.
Price
You need to pay $97 to get MegaDroid. Is it expensive or not. For something simple like Metatrader’s piece of code it may seem high. In my opinion if it will continue to make profit at the rate it makes now it well worth the price.
My Results with MegaDroid
At the time of writing this article MegaDroid is running on my account. As I mentioned before it made on average 1 trade a week. It made $160 on $5000 account which is 3% return. In my opinion for a completely hands off, automated trading it’s not a bad result.
Tags: currency investing, Currency Trading, Forex, forex investing, forex markets, Forex Trading, Investing, trad forex, trade currenciesPosted in
