I’ve been in contact with the developer of Forex Over Drive as little is known about the strategy behind this EA. After running a back test, which showed poor results, and pushing him a bit he finally gave me this insight:
“It is a combination, but it has some personality of some scalping, plus a counter trend system, plus various indicators. It works pretty well in my opinion.”
So, it sounds like although the back tests look poor it may actually work quite well in a live environment.
It runs on 4 currency pairs, however the recommended pairs are EUR/USD and GBP/USD.
I thought I’d see what others have said about Over Drive. Maybe then I’ll get a better idea of whether we should put this robot through it’s paces…
The first bit of feedback I found was form the Donna Forex forum, where this trader had had some good short term results and even suffered a big Stop Loss hit (set to 328 pips) but is still in the black…
And the test the trader above is referring to can be seen below:
There’s also another, longer running, live test that can be found on Forex Peace Army, currently it’s showing a fairly strong performance:
If you have used this Forex Over Drive then please post your review below, making sure you give it an overall star rating. Thanks!