Personally, I have live traded Forex MegaDroid for over 6 months now, on 3 different brokers from across the globe and in summary I rate this as the best Forex EA on the market. The only limitations I have found are:
- It only trades Monday through Thursday nights (European time)
- It has been known to go a couple of weeks without a trade (but this hasn’t happened since their update)
- When it looses a trade, which isn’t often, it can be significant. With Recovery Mode I’ve claimed back my 3 loses in under 2 weeks.
Here’s a snapshot of their live trading results in 2009-2010, which I can confirm, match up with my live results also:
Now, let’s see what everyone else thinks…
Herman below talks about long term profits, however, if you hit a good period where MegaDroid trades often you can get some decent returns in the short term too.
Good to hear positive reviews from other longer term traders:
Here’s a more reliable MegaDroid review from a Senior Member from a popular and well respected Forex Forum. He’s brought in over $5000 running his EA on two different brokers. His “MT4 Stats” links aren’t working at the moment, but give them a try and you may be able to validate his claims.
Here’s an even better review from a trader who has used MegaDroid from it’s launch. This review was posted in May so close to the launch. Plus, he has posted his demo results and has an MT4 Stats account that is operational, although it looks like he has some other trades in there as well… The Megadroid trades are the ones on EURUSD that take about 10 pips in profit. http://hefe2hefe.mt4stats.com/
Here’s a blog comment from one of MegaDroids support staff… there’s good reason why they take upto 24hrs to respond:
Should we test it?
Well, I’m a bit biased when it comes to Forex MegaDroid. I live trade it myself on a daily basis so can only say good things about it. The reviews above only reinforce this. When looking at other reviews out there you’ll find a lot of newbies, who are unfamiliar with Forex MegaDroid, commenting on how they haven’t had a trade for 2 weeks. I can confirm that this was the case up until late 2009. Since then it has traded at least once a week and ended ’09 in good form. So for the benefit of my readers I’ll retrospectively put MegaDroid through our testing process…
Due to a messy live account I have called upon the help of MT4i to collate the trades in my account related to Forex MegaDroid. Below you’ll see the monthly pips generated by Forex MegaDroid during the 2nd half of 2009 and early 2010.
In the chart below you’ll see how I’ve optimised Forex MegaDroid to make the most of it’s accurate trading strategy eclipsing $4931 in profit in just a matter of months.
Please note that I currently run MegaDroid on two “No Dealing Desk” brokers, and both tend to operate almost identically. Prior to the results shown above I ran MegaDroid on yet another broker and these results can be seen below:
And to see in more detail how it’s currently running take a look at the screenshot from MT4i below:
Note: The MegaDroid Live Trading account above was merged with other EA’s on 7th May 2010. It will therefore no longer be used on this site and instead a new chart has been added above and will be updated every 10 minutes.