Jeremy's Robots

Dukascopy: ECN forex company provides best spreads, biggest liquidity and marketplace for on-line forex trading.

In order for an EA robot to be reviewed, it must comply with the following quality requirements:

• It must use a stop loss
• It must not be martingale
• It must not be a grid system
• It must be built with some level of entry and exit logic
• It must have a reasonable risk to reward ratio

Please find below a list of EAs I will not be testing because they do not comply with my basic quality criteria:

• Tom’s EA – no stop loss
• Happy Forex – no stop loss

I have found the following articles to be very helpful:

• Currency personalities
• Money Management
• Technical Indicators

Summary
I have been testing MegaDroid for some time and have found this to be a decent robot.  However, there are a few things a new MegaDroid user needs to be aware of:

• The average win is 8 pips, and the average loss is 24 pips.  Therefore, this robot must win at least 75% of trades to breakeven.
• MegaDroid wins 80% of its trades.
• Because of the high risk to reward ration you need to be prepared for the worst.  The worst loss I have recorded with MegaDroid was a whopping 81 pip loss (6th September, 2011).

Conclusion
If you choose to trade with MegaDroid, I recommend you never risk more than 2% of your equity.  I recommend you do this using fixed lot sizes equivalent to risking 2% of your equity.