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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