What Forex MegaDroid Promises
Given that people are immensely skeptical when it comes to scalping Forex robots these days, it's no surprise that Forex robot sellers are resorting to bigger and bolder promises to try to sell their scalping Forex robots on their websites. Forex MegaDroid is no different, and when you visit their website you're immediately hit with claims of 95.82% accuracy when trading every single market and that it's such a powerful system that you're going to quadruple your money for sure. Well, I don't know about you, but these kinds of claims bring up all my defenses and definitely do not buy into these kinds of hyped up sales messages.
Forex MegaDroid and any kind of 'high accuracy' system falls into the category of scalping Forex robots, which aim to pick up just 3-4 pips each time it trades. As a trade off for these tiny pip profits, you're expected to allow a stop loss of hundreds or even thousands of pips in return. Well, I don't know about you, but a 1000 pip stop loss scares me to the core. People might think that that could never happen, but just think of the Japan 8.9 Earthquake that happened recently that caused the USD/JPY to crash more than 1000 pips in a matter of hours. If a system like Forex MegaDroid had you in the markets the exact moment it happened, you would wipe out months of trading profits in a matter of minutes.
What It Actually Delivers
Well, that's the dangers of the hyped up promises that Forex MegaDroid offers, but that's all theoretical after all. The most important measure is how it actually performs in practice, so despite all my reservations, I went ahead and bought Forex MegaDroid to certify once and for all whether it actually delivers on its promises or not. That was in June, and over a six week period it managed to do all of fifteen trades, albeit all winners. So far so good, but in terms of quadrupling my money, at the rate it was going it would have to be centuries before that happened.
On the seventh week, Forex MegaDroid took a trade in the EUR/USD that went the other way almost immediately, and every day following that I had to wake up to the loss growing bigger and bigger, until it finally hit the stop 300 pips away. Needless to say, it wiped out all the small gains it had been collecting up to that point, and ate into a huge chunk of my (demo) capital as well. Forget about the money back guarantee, because had I been foolish enough to trade Forex MegaDroid on real funds, I would have halved instead of quadrupled my capital.
I requested a refund on the spot, and I caution you and anyone else from stepping near Forex MegaDroid with a ten foot pole. Forex MegaDroid may not be a scam in that it does make some profits some of the time, but you'd better pray that you don't ever get hit by a freak event like the Japan 8.9 Earthquake, or your account is doomed.
Thad B. is a Professional Trading Systems Developer who has developed and managed dozens of profitable trading systems over the years for a private hedge fund. Forex trading systems are his passion and expertise, and he has a wealth of helpful resources available for any serious Forex systems trader.
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