Forex Megadroid Pro and IvyBot – A Look at Two Different Forex Robots

Forex Megadroid Pro as well as IvyBot are both forex robots, otherwise known as expert advisors. Both of these systems automatically generate and execute trades without the need for human intervention. Simply stated, the only things you have to make sure are that you have a good internet connection and you adjusted the settings according to your risk tolerance. Expert advisors are mechanical trading systems written in the MQL-4 language that are designed to automate trading on the MetaTrader 4 platform. Let’s compare these two forex robots:

IvyBot is the only automated forex robot to use 4 expert advisors at the same time. Every robot on the market today has 1 system trading multiple currency pairs.

  • IvyBot is a robot that is specifically designed and optimized to trade each of the 4 currency pairs: USD/JPY, USD/CHF, EUR/USD and EUR/JPY.

    The IvyBot system is a complex algorithm developed by the IvyBot team. The algorithm consists of a combination of the following variables: Trend analysis, weighted price action,technical price patterns, market liquidity, volatility, and forward projection scanning.

    IvyBot is not a scalping system and its trades, on average, last several hours usually ranging from about 1 to under 24 hours.

    Pro Forex-Megadroid Pro is an improved version of the original forex robot called “Forex-Megadroid”. Forex-Megadroid is a forex strategy that was created by Albert Perrie and John Grace who both have 38 years of combined Forex trading experience. What makes this system unique is that it is based on RCTPA (Reverse Correlated Time and Price Analysis) Technology, which simply put means that the forex robot automatically adjusts its according to the current volatility levels and market conditions.

    I’ve traded IvyBot only on a couple of demo accounts. I was never confident enough in the system to make a switch from demo to live. I do have to admit that I’ve traded my demo at very high risk level on a 10K account and I traded 2 standard lots per each currency pair. At the beginning the system hovered between 2 and 4K profit and the highest profit I’ve ever achieved was over 5K. Shortly after the system experienced a series of losses and I ended up blowing the entire account in a very short period of time. I have to admit if I was trading this system live I would have risked less; however the risk to reward ratio did not impress me to say the least. The IvyBot team prides itself in updating this forex robot very often to adjust to the latest conditions. The problem I find is that by the time they react to the changing market conditions and decide to issue a new version you might already find yourself in a very large drawdown or even blow up your account like I did.

    I have been trading Forex Megadroid Pro live now for 3 months. One that has impressed me the most about this system is that Forex Megadroid Pro is a very selective forex robot. It usually executes on average maybe 3 or 4 trades per week but the ones that are taken are usually very accurate. In the past 3 months of trading I’ve only experienced 2 larger losses. These two losses were around 20 pips each. As with any scalping system stop losses will be larger than target profits. This system is also very good with preservation of capital as demonstrated by limited losses and some break even trades. The performance of this robot has been quite steady and very consistent so far. As of the time of writing this system has not yet been released to the public. The only people that have access to it are the ones that received it as a bonus after purchasing FAP Turbo Evolution.

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