March 31, 2009
Forex Megadroid Robot Review
Forex Megadroid is the latest automated forex robot to hit the market. These robots are becoming more and more popular, but I have to admit I still haven't used one to trade the markets as I still prefer the old-fashioned method of actually placing trades myself.
However if you are looking for an automated expert advisor that you can use on the Metatrader platform, then this is another product that you may be interested in.
Forex Megadroid has been created by two guys called Albert Perrie and John Grace, who claim to have 38 years trading experience between them. The sales page is much like all the others with impressive profit claims of several hundred percent per year since 2001, but these are inevitably going to be back-tested results which don't always tell the whole story.
Another slight gripe I have is that there are very few details of how the Forex Megadroid robot actually places trades. For example there is no mention of what currencies the robot trades, what time frames are used, or what kind of profit targets and stop losses are used when trading.
All of which makes it difficult to assess the overall profitability and the level of risk associated with the robot. It may of course be as profitable as it claims, but I guess the only way of knowing for sure is if you buy the product and test it out yourself.
Here's the link if you want to find out more.
(If you do decide to buy the Forex Megadroid robot please contact me and let me know what kind of results you achieved).