Forex Monster Trader Robot trades on the M1 charts and is making on average a profit of $436 per day in passive profits. Forex Monster Trader robot has been developed by Stephen Harper. FX Monster Trader Strategy Tester Report shows a deposit of $50K giving a net profit of $493.134K in around 10 years with a max drawdown of 30.05%. In live trading, FX Monster Trader robot turned a deposit of $50K into $305,530K in just 6 months. However, no third party verified proof of this live account statement has been provided. Stephen Harper claims that he is making four figure profits using his FMT robot. Again, no third party verification has been provided to backup these claims. This is what you get with the FMT robot:
Main Product- Forex Monster Trader System
Forex Monster Elite Members Club
Forex Monster Trader Ultra
Forex Monster Trader Deluxe
Since, no third party verified live account statements have been provided to support the claims being made by the developer Stephen Harper, you should do your own testing to see if this robot does indeed make four figure profits everyday. First do your own back testing with a modelling quality of 99%. If you get good results, do a forward test for a period of one month. The developer Stephen Harper is giving no questions asked 60 days money back guarantee period so you can thoroughly test this robot for 60 days before you make a decision whether you want a refund or you want to risk your money by trading live with FX Monster Trader.
If you don’t get good results in the one month of forward test, go for a refund. But if you get good results note how many pips this robot makes daily and how many pips it loses on average each day. Now make a deposit of $250 and use a lot size setting of 0.01 to see how many pips this robot makes in 30 days in live trading. Using a lot size setting of 0.01 means 1 pip will be equal to $0.1. So even if you lose 100 pips with this robot, you will be only losing $10. Live trading is must because a live account behaves in a different manner as compared to the demo account plus a robot may work with one broker but maynot work with another broker. So, incase if you get good results on both the back test as well as the forward test, the only way to know whether Forex Monster Trader will work is to trading live with it.