Forex MegaDroid Review – Can This EA Make You a Successful Trader?
Automated Forex trading is becoming more and more popular lately. There are many different robots became available who can trade currencies automatically. Not many of them do it with consistent success. Forex MegaDroid on of the new ones. I would like to review it and give my own trading results.
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 one can see from the name of the algorithm it is going to adapt to changing market conditions. Another interesting thing they claim is “reverse correlated time and price analysis” (RCTPA). This algorithm designed to forecast the price movement in the next 2 to 4 hours.
Overview
I’m using this EA on my account and I see this MegaDroid has a potential of making consistent profit.
Positives
Very high success rate
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.
Automatic money management
It has an option to take a trade with the specified risk level. However you can turn that option off and make it to trade with fixed lot size.
Optional Stealth mode
It was designed against cheating brokers who may move your stop loss orders. MegaDroid has “mental” stop loss levels. However the danger of this option is that in case of disconnection your trade will left unprotected.
Disadvantages
One major disadvantage to this EA is that it takes trades very rarely. That is actually understandable since it needs to wait for a set up with a high probability of success.
Price of MegaDroid
Of course this expert adviser is not the cheapest one. It costs $97. However if it will continue with the same or close success rate it well worth it.
My MegaDroid Test Results
By this day MegaDroid is running for five weeks on an account of $5000. In those five weeks it made $160. That makes 3% of return which may seem a little, but for completely automatic trading it’s quite good in my opinion.
