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Morpheus OddBot EA - Expert Advisor Review

OddBot EAHaving conjured up images of Greek gods and gun-toting Science Fiction characters within my last Forex article, when I declared that I had put the strangely-named Morpheus OddBot EA into forward test, I guess it's now time to meet the man himself!

He's certainly a funny looking chap, isn't he?

Appearances can be deceptive, however, and since putting Mr OddBot into forward test, he's certainly been performing well and has been consistently towards the top of my Live Leaderboard, and is starting to appear like a robot which is both profitable and also very safe to run.

In my latest Forex Expert Advisor review I aim to find out precisely just how good the Morpheus OddBot EA really is!

As it happens, I plan to say some nice things about Morpheus OddBot further on within this review, so it's probably best if I put my witch's outfit on at this stage and get the unpleasant matters out of the way so that we can move forwards.

My biggest complaint relates to the quality of the Morpheus website. I do understand that the OddBot developer is planning to redesign the website in the near future but, at the time of writing this article, it lacks a lot of important information about the EA and it isn't particularly easy to navigate.

Fortunately, there is a support forum on the Morpheus website that OddBot users can use for product information, downloads and support, and this has recently been linked to from the main part of the website. I guess it shows that the Morpheus OddBot developer is moving in the right direction and I'm sure that my relatively minor niggles will all be resolved in the near future.

Hopefully, by the time you read this article, the website issues will have been resolved and my above comments will appear meaningless and irrelevant.

Melly! My second observation is that the OddBot PDF installation manual is probably best described as being succinct and to the point.

It consists of only 4 pages, of which just 2 pages relate to setting the EA up. Personally, I'm not too bothered by this as I know exactly what I'm doing when it comes to setting up a MetaTrader Expert Advisor, but I guess that installation could be a little daunting for some of the Forex-newbie users out there who aren't even entirely sure what MetaTrader MT4 is.

Now that the nasty things have been said, I guess it's probably time to take my black pointy witch's hat off and move on to the positives.

What do you reckon, boys?

Well, I guess that the biggest positive of all is that the Morpheus OddBot does actually seem to work, and I'm certainly hoping to fill in some of the empty boxes and cover some aspects of the EA that haven't been explained elsewhere within my review.

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Morpheus OddBot and Forex WindFall - Expert Advisors in Forward Test

MorpheusOkay, before anyone asks, I'd just like to say that's not me floating on a cloud in the picture.

The curly haired chap stretched out on the couch in his full glory, however, is supposed to be Morpheus, the Greek God of Dreams.

Somehow I suspect that the subject of one of my forthcoming Expert Advisor reviews, the Morpheus OddBot, has actually got nothing whatsoever to do with Greek gods and is more likely to get its name from one of the main characters in "The Matrix" series of science fiction films. The trouble is, I'm not really a fan of anything to do with SciFi (even "Doctor Who" is beyond me!) and I thought my picture of a Greek god was so much more romantic.

Joking aside, the OddBot developer seems to have been active on a number of different Forex forums for quite a while, and has recently taken steps to market some of his own work which, as I'm led to believe, will only be available to purchase through affiliates such as myself. I'm sure that some people will bemoan the fact that the developer's website is a little basic and lacking of content, but I hope his approach means that he is able to devote his time to producing some good products rather than becoming yet another internet marketer.

Fortunately, you'll be able to regularly check-in at MellyForex to find out whether OddBot is performing or not.

The EA itself is probably best classified as a non-Martingale scalper and it works on two currency pairs, EURUSD and GBPUSD, on the 15-minute timeframe.

I've already run some preliminary strategy tests on OddBot and I have to say that the initial results are quite encouraging. It will take a few more days to complete the tests and prepare my full review of the EA but, in the meantime, I've set OddBot up in forward test on a $5k FX Central Clearing demo account using raw spreads and charging a 1.0 pip round trip commission on the trades.

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Forex Real Profit EA - Expert Advisor Review

Forex Real Profit EAThe Forex Real Profit EA is a scalping robot which looks to trade at the time of day when the US are closing and before Asia has opened.

I've already got a couple of other EAs in test which could be classified like this as pre-Asian scalpers, and my biggest concern about robots such as this is that liquidity in the market is at its thinnest during these times and there can be issues in executing trades. The inevitable requotes and slippage often means that this type of EA performs well in demo, but fails to live up to expectations when users run the system live.

The attractions of the Real Profit EA, however, are that it not only seems to offer a quite attractive risk/reward ratio by comparison to some of the similar robots available, but that the developer is happy to test his EA using real money live accounts as proof that his product works.

The website contains quite a bit of factual information and isn't the typical single sales letter page which is commonplace with many other EAs. There are both live statements and backtest results on the website, together with a forum which is maintained by the Real Profit EA team to provide support for their users. It is also possible to download a FREE demo version of the EA which enables prospective purchasers to test the EA on a demo account to see how it performs before they buy.

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