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:
Pro
- 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
Cons:
- 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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