TradeProfits

Forex MegaDroid – Another Expert Advisor Hits the Market

Posted on 03. Apr, 2009 by admin in Uncategorized

These Forex Robots are just flooding the market these days. It seems like there is a new EA every single day, always promising the most astonishing results. Well a few days ago, the new Forex MegaDroid hit the market. There has been a lot of talk about it on different forums, and obviously there is a lot of bloggers who are promoting this to be the greatest EA ever. If you go to the sales letter, you will see the typical exaggerated claims! “95.82% Accuracy In EVERY SINGLE Market Condition” – “The Next Level In Automated Forex Robot Trading: Multi-Market Performance, Turning $1 Into $4 In EVERY Market Condition” – “bla bla bla…” The list keeps going! It will probably take you an hour to get through the entire sales letter. If and when you reach the bottom of the sales letter, you will see all usual warnings, terms & conditions, etc. which of course tells you that all the above stated results is only hypothetical, no guarantee for future results, results not representing real trading, etc.

What I really enjoy about these typical landingpages is all the standards which you see every time! There is always a lot of highlighting with this poor yellow color. The page itself always has same layout, where everything is squeezed into the middle of the page. These pages are ALWAYS so long, that you can keep scrolling down for hours! The price is always set at $97! The product sold at such pages, always seems to come in this huge box, making it look like it is stuffed with DVD’s, books, etc. Yet, the only thing you get, is a few files, and a PDF manual. I could keep going. Anyway, I guess these pages makes people buy the product promoted, since they are used heavily in the internet marketing industry.

Well, I have not bought Forex MegaDroid, so I cannot tell if it works as promoted, but I highly doubt it. It simply sounds too good. And even with 95.82% accuracy, this might just imply that it runs with some crazy large stop losses, and tight TP levels. I could perform with very good accuracy, if I used a 1000 pips SL and 4 pips TP. However, if (or when) one trade hits the stop loss, it will take you anoter 200 winning trades to get breakeven. I am not saying that is the way which Forex MegaDroid works, but if the statements are true, I am rather sure there are some other dodgy sides which we aren’t told about.

If you go to ForexPeaceArmy to look at the reviews, you will see that several people have done some backtests of Forex MegaDroid, and overall the reviews are mixed, but mostly negative. However, there seems to be a lot of confusion about the setup, specially due to some aspects about the GMToffset, which apparently makes it difficult to backtest.

Overall I think it is too early to tell much about Fore MegaDroid. After all, there has been some EA’s lately which has done better than I expected possible. But I am not buying this before I see some kind of honest proof that this thing actually works. If you do plan on buying this, you can always get a refund if you aren’t satisfied. The product is sold through clickbank, so there should be no problem in getting your money back. If you have bought it and used it, let us know how it performs. If you decide to buy it, then get it here, and support this blog.

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Tags: Automated Trading, Expert Adviser, Forex MegaDroid, forex peace army