Forex Robot : Forex Megadroid Review

Hey There ! Today, I’m coming with a review of one of the “hottest” expert advisor available on the internet… Everybody’s been talking about it since March saying “Oh my god, this robot is truly amazing, you’re going to make $20,000 each month with a $30 starting capital !!” And I’m so tired about that ! Everybody’s lying ! Arghh ! You should read the rest of the review, in order to get an idea about the Forex Megadroid Robot.

For those who don’t know anything about Forex Megadroid, it is another forex robot that you only have to put on your metatrader account… It’s the perfect tool for the lazy trader… According to the Forex Megadroid website they had “No Losing Trade Since 20th March 2009!” and that’s the first lie ! Second lie comes there : “Forex MegaDroid™ Is The Direct Outcome From 38 Years Of Learning And Experiencing”. Third lie is here : “Turning $1 Into $4 In EVERY Market Condition”.  Anyway, you’ll have understood this sale page is only a BIG lie.

I’m so angry at these kinds of products ! The owners of this “stuff” are making millions of Dollars, really MILLIONS by selling crap to naive people !

For the moment, the robot is not performing that bad… But it doesn’t mean that it’s performing well, we’re really far far far away from a decent performance. What it’s sure is that it’s not performing as advertised ! And here’s the reason why :

This robot appears to be a FAPT Scalper clone, with a few extras borrowed from other robots. If you review their posted trades for the past years you will quickly see that it doesnt trade at all hours, as they claimed. It trades in the exact same time window as FAPT. In fact Strategy 1, the more conservative strategy is pretty much identical to FAPT, and the only difference between this and the more aggressive strategy 2 is the Take profit level. Strategy 1 takes profit at 5 pips, and strategy 2 takes profit at 15 pips, and these two strategies run simultaneously. Beyond this, I see no grounds for their claims of Artifical Inteligence Algorithms. All their trades are scalper style trades, during the same hours as FAPT. They do not switch from one strategy to anouther depending on market conditions, they simply eliminate the more aggressive, higher profit strategy, at times. And I suspect they do this manualy. 

Further, if you review back a few years you will find several instances where they seem to selectively employ their RecoveryMode. In instances where the EA has taken more than two full losses simultaneously the RecoveryMode is off. In instances where it has only taken one full loss the RecoveryMode is on, and even then there are instances where it placed two simultaneous orders following a major loss, the first at double position size and the second at regular position size. If you tally these two open orders, the total number of lots exceeds the account balance at 100:1 leverage. This is only possible at higher levels of leverage and even then its very questionable. MegaDroid just seems to be a FAPT clone designed to run on the eurusd pair. It only places one trade per each strategy per night. The only difference between the two strategies is the take profit level, with the higher 15 pip take profit being the more aggressive setting. It doesnt take the small losses that FAPT takes, rather it closes most bad trades at 1 pip profit, therebye maintaining its high win ratio.

And there you have it. Its just a one horse wonder, anouther night scalper. I only does one thing, once per night, at one specific time, on one specific pair. (kind of like an old married couple). Its simply an amalgamation of the best from the best.

Not to complain to hard, it can be a money maker, just bewareTo achieve their results they use a 30% risk setting. A couple of full losses at this level can decimate an account. If you run the RecoverMode and double position size after a loss, Martingale style, it could crush your account even quicker, likewise for using RecuceLots false.”

What does that mean ? It means that in about 6-12 months this  robot would have stopped making  money, it will simply start blowing up your account ! So please, if you don’t want to lose money on the long term, stay away.