Forex MegaDroid Review

By Hugh Scarlett

With the dynamics of the Forex market, one is regularly approached with new Forex robots. After a while one becomes very cynical, since many are based on outdated robots which have been repackaged under a new name to con the un-suspecting buyers.

When Forex MegaDroid raised its head, it was a case of “yep its got a guarantee, so I’ll test it and if it fails, I’ll push for my money back.” So off to the strategy tester, check and update the history and plug it in. Setup was simple so the first test was running within ½ hr.

Now, we have found a large number of Forex robots, start with losing trades and the returns graph drops as they bed down on the signals. MegaDroid though was different, the graph started to climb steadily, yes it did have losses, that’s normal but on every strategy we tested, it made money, some significantly more than others, but profitable returns none the less.

This was the first Forex robot we had tested, that posted profits on every strategy.

MegaDroid is the first Forex robot to incorporate a type of artificial intelligence or fuzzy logic in its programming. The creators call it RCTPA or Reverse Correlated Time and Price Analysis and by developing this ‘Intelligence’ the developers, John Grace and Albert Perrie, claim a 96% accuracy in the softwares predictions. Maybe it is because they are Professional Forex traders, with decades of trading experience, that they have been able to see past the straight numerical systems used by so many in the past, I don’t know, suffice to say, this Robot had caught out attention.

Another very important aspect of the MegaDroid is its risk management, you have a variety of settings you can select; You can fix your lot size or you can set the risk ratio to determine the lot size to be traded, this allows your lot sizes to increase as your account builds, you can even tell it to trade aggressively or conservatively. Unlike a lot of other Forex robots, MegaDroid also determines stop loss levels as part of its risk management programming. Another significant inclusion is a ‘Stealth’ setting which allows you to shield the fact that you are using a Robot from your Brokers. Robots are not popular with some brokers, and if they know what you are using some will counter your trades, so this Stealth mode is a big plus!

It is early days for this Robot, but so far it is returning some good profits on live trading, and considering what it cost, $97 it is remarkably well priced. It paid for itself in its first trade! Yes it only trades one currency, EURUSD, and that’s a good one with plenty of movement on the charts.

One important consideration that is stated in the manual is not to use it with another robot on the same chart. If you plan to use two robots trading the same currency, set them up on different accounts, that way you can ensure there will be no conflict.

Forex MegaDroid is probably one of the most significant developments in Forex robot programming, and so far appears to have trading abilities, beyond anything else currently on the market.