This forex robot, an Electronic Advisor (EA) is the creation of 2 experienced traders, John Grace and Albert Perrie - with over 38 years of experience in Forex trading. For those new to the currency market, Electrnoic Advisors are plug in programs for the MetaTrader 4 (MT4) trading platform which allows forex softwares, like Forex Megadroid to work with any broker that offers MT4 to clients.
And the best part is MT4 is free, and most brokers support this platform.
Although the automation concept is not new, Forex Megadroid is built with artificial intelligence capabilities, and uses a trading method known as RCTPA - Reverse Correlated Time and Price analysis.
However, like many forex software, it trades only in one pair currency. This I believe is a disadvantage.
Some of the features of the program includes
- Low Start up costs, you can start trading with a test account. Hence, no real money required to get started.
- It trades in the EUR/USA pair
- Can trade on auto pilot at any time of the day. This can really free up your time.
- Eliminates natural human instincts - fear and greed
So Does Forex Megadroid Work?
Look, no system is ever perfect - and you will be silly to believe it gets every trade right. It has it's advantages and disadvantages... and it will not suit everyone! It is really up to you to put it into action, test it out, and see if it will suit your investment philosophy.
Although it's intention is to fully automate the entire process, it is recommended that you keep an eye on it, and use some of your trading knowledge to improve the system. Doing it this way will reduce possible risks - and more importantly, learn to work in sync with Forex Megadroid.