Forex MegaDroid Hits a Losing Streak

We�ve been running tests on Forex MegaDroid since it launched with the assistance of an army of Clickbank affiliates and a vast quantity of hype at the very end of March.

I don�t know if you remember, but this Droid (actually a MetaTrader 4 expert advisor) can apparently �see into the future� with the aid of some new �artificial intelligence technology� confusingly entitled �Reverse Correlated Time And Price Analysis�. For comparison purposes we�ve been testing it alongside a robot of our own, which doesn�t use any intelligence whatsover. In fact it�s so dumb it does everything wrong! It uses random entries, then it stays in the market 100% of the time and finally it uses Martingale style position sizing. In addition to this long list of �faults�, you can also download our �Robot� from our website completely free of charge, solely for educational purposes.

Here�s how the �Droid� has been doing throughout April and May:

Forex Magnates

Heh heh,

Well there’s no way in that name of all that is holy that I’d ever use your demo bots in actual trading! I did some backtests on the first one that just stays open, and it didn’t take too long to blow up $10,000 with a 0.1 lot size.

Your martingale system backtest graph has all the telltale signs of a martingale. Smooth line upwards dented with bumps. I once thought that it may be possible to trade with a martingale system, as long as you continuously pull money out from it once it doubles itself in anticipation of it eventually blowing up… but this isn’t very profitable, and you’re gambling that it doesn’t explode before you break even. Nasty Nasty Nasty!

Hi Naynay,

Glad to discover that you enjoyed the article! I realise this is a bit belated, but better late than never?

I’d never use one of our demo bots in actual trading either! That’s why they come with a warning that “This expert is for educational purposes only. It should NEVER be used on a live account”.

One of the “educational” points in this instance is that the Droid team slagged off Martingale position sizing in an email, but they use something remarkably similar in their own EA. Then in May they were hoist by their own petard (in my backtests at least).

C’est la vie!


Now adays trading is not so easy…