As we know ForexMegadroid is quite a popular EA, I think this is because he is one of the few ones which are still on the market, as they claim over 3 years and more then 40k clients. I personally talked with one of the developers from MegaDroid Team about this new EA and he said that this is a new project on which they have been working for at least 2 years, this indicates that you at least will have a product which is stable and will not make some surprise for you. From what I know it could be similar to MegaDroid but is being updates with some new cool functions especially for UsdCad pair – this is the best thing because there is no universal EA for all pairs – it has to be polished for the pair you will use it.
Now, about the new PipJet – let’s take a look at it:
- 5 Live accounts with results – that is a big plus
- Very Low Draw Down and only 3 loosing trades over 2 year – another big plus
- 1k into 40k from august 2010 !!! Impressive
- It is a real product – not some crap – I verified it myself
- price is very low compared to other similar products
- good support
- 60 day money back guarantee
- free updates
- fully automated
- could have some scalping trades
- too many people will be using it
The Overall strategy for the EA is that it enters the trade during Asian Session and could keep it open up to 18 hours, and mostly being short-term trades, so intra-day trading which is ok for many people to understand if that is good or not EA before the 60-day refund period. The type of trading is a range one and exploits high probable reversals in consolidated price channels – a simple but effective strategy I would say.
A good discovery they made is following: Major USD pairs are influenced very much from news. but USDCAD is not affected in most of the cases, or even at all. A great discovery which can provide you a lot of profit.
I personally will recommend you to try PipJet Expert Adviser and see how that will work for you.
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