Forex MegaDroid Review and Test Results

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 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).

Quick Overview

Its one of the successful commercially available EAs. By successful I mean it has the potential to bring profit consistently in Forex trading.

Advantages

Very high success rate

I’m testing this EA for more than a month by now. Interestingly enough it did not have a single losing trade. Which doesn’t mean it will not have in the future.

Automatic money management

There is an option that allows you to set the automatic position sizing according to our chosen risk level or set fixed position size.

Optional Stealth mode

In Stealth mode MegaDroid does not set the stop loss and take profit levels. It keeps watching the market. You as a trader need to keep watching the connection of your terminal to the server.

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

This peace of code comes at price $97 which may seem high. In my opinion if it will continue bringing profit at the rate it does now it well worth the price.

My Results with MegaDroid

By now MegaDroid is running for about a month. As I mentioned it averaged one trade per week. It made $160 on $5000 account that is 3% of gain. In my opinion for completely automated trading it’s not a very decent result.