Jim at Trading Gurus is one of the only people who actually go and test the much hyped trading systems such as Forex Megadroid.
Following the Megadroid team’s warning that the robot might stop functioning following the FIFO rules he gave it another test.
Two conclusions I get from reviewing his latest test results:
1. Forex Megadroid works. And even works pretty well.
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2. Megadroid team’s statement that “Had no losing trade since 20th March 2009!” is inaccurate.
Anyone reading this blog knows that I’m not a big fan of commercial retail Forex trading robots as I believe that the people behind these robots are better marketers than developers. I also belive that these people have little or no interest to make sure their software works after completing a sale.
But with Jim’s ongoing testing of the Forex Megadroid I can see that this robot is not a complete scam. It doesn’t work as well as the marketers behind claim it to be, but it still produces satisfying results.
This is the backtest result Jim received: