Forex Over Drive has been developed by Uriel Katz. Forex Over Drive turned a deposit of $150 into $808.54 in just 1 month. Many traders have traded with Forex Over Drive and have reported good results. The good thing about this forex robot is that you don’t need a deposit like $1K or $5K to get good results with it. You can start trading live with Forex Over Drive with a deposit of as little as $100.
Forex Over Drive has been optimized to trade two currency pairs EURUSD and GBPUSD. When you will install this robot, the settings will be set to default. If you use these default settings, the robot will trade conservatively and grow the equity in your account slowly over time. However, if you want quick gains then you will need to increase the risk percentage in the default settings. This means you can see sudden large drawdowns in your equity curve. Overall in the long term this robot does stay profitable.
Testing Forex Over Drive
First do a 99% modelling quality back test of the Forex Over Drive with different settings. This will help you determine the most suitable settings for the forward test. If you take a detailed look at the Strategy Tester Report posted on the Forex Over Drive, it does have a large max drawdown of 21.54%. A max drawdown higher than 8% is considered to be not safe. Keep this in mind when trading live with Forex Over Drive. Before you trade live with it, you can do a forward test just to see which settings can give you the highest gain in one month. Try to achieve a gain of more than 400% in one month. Of course, it means taking higher risk but since you will not be trading with more than $150, the worse that can happen is losing 20-30% of this deposit in one trade. Once you find those settings that give the highest return in the shortest period of time, deposit $150 in a micro account and start trading live with the settings that you determined in one month of demo trading. Forex Over Drive comes with a 60 days no questions asked money back guarantee, so you can safely test it for a period of two months. This robot is ideal for beginner forex robot traders as it can trade live with a very small deposit. Finding the best settings for Forex Over Drive can be a good training on how to optimize a forex robot. Always remember, the higher return can only come with a higher risk setting. However, many traders have reported making good gains with Forex Over Drive.