EXpert Advisor Forex Overdrive

Forex OverDrive Review

It is not clear who’s behind this robot, but they are clear about what you can expect from it. Forex OverDrive is said to be designed for Long-Term growth, but it can be used for Short-Term explosive growth as well. The higher the risk, the bigger the profits. They claim that you could potentially earn “hundreds or even thousands of dollars within the next 30-45 days” completely on autopilot. It makes careful and confident trades that generate you cash flow while minimizing risk.

Forex OverDrive Claims

The vendor claims that this robot can predict the forex market and turn volatility into profit. Huge profits can be made in short period of time, but only by increasing the risk rate substantially. “If we can do it – without much effort – So Can YOU!”  “Brokers will be dumbfounded as you make literally hundreds of pips a week.” Your capital will be protected while the profit keeps piling up.

Forex OverDrive Vendor credibility:
The claims stated above are very strong. How does the vendor back them? He claims that they have personally back and forward tested the program over and over for three years before releasing it to the public.
  • According to the vendor these tests include live tests with their own money. Recently the robot turned a live account of $150 into $808.54 in less than a month. In this live account the robot traded 35 trades all successful, with ROI of 439% in 1 month. In another live account from 5th Aug. 2010 to 5 March 2011, however, a $250,00 account lost $133.38, which represents ROI of -53.35%.
  • The proof of their claims is also backed by a number of tests in demo accounts.Demo testing by independent ForexRobotsFactory shows the following results: $10,000 was turned into $105,568.13 in a matter of 12 months, rendering a ROI of 955.68%. Currency pairs: EURUSD and GBPUSD.
  • They also include two testimonials of satisfied customers.

Forex OverDrive features

  • Forex Over Drive is a completely automated system and works on the Metatrader 4 platform. Once it’s installed, you only have to run Metatrader 4 and the robot will enter trades according to set parameters and close trades in the same way – all on autopilot. No human decision is required.
  • Forex OverDrive is a dual trading system. Its default setting is the conservative “money management mode”, which, as claimed by the vendor,  simply makes careful and solid trades, building up your wealth carefully; very few losses will occur.
    Simply by raising the risk (bigger lot sizes) the trader can have the robot change to “make more money mode”, by means of which, as claimed,  a lot of money can be made in a short period of time (at higher risk).
    The robot will in any case slowly raise lot sizes per trade as time elapses.
  • Forex OverDrive strives to prevent brokers from stop loss hunting, in order to help prevent losses and protect your money.
  • Currency Pairs: Forex OverDrive only trades in  EUR/USD and  GBP/USD.
  • The following settings can be changed by the trader as preferred: Stoploss, Take profit, and Trailing stoploss.
  • Min account size: $150.

The Forex OverDrive package

For $97 the buyer get the following:
  • Forex OverDrive download. The setup takes less than 5 minutes.
  • User friendly manual explaining how to use Forex Over Drive to gain maximum profit.
  • 24/7 Customer Support
  • 60 days risk free money back guarantee.

My Overdrive Test Result and Conclusion

Forex Overdrive is fairly similar to Forex Megadroid in the sense that it takes small profits with a very high success rate, but Forex Overdive is much more active and more profitable. The problem is that it uses a 350 pip stoploss and a profit target of only 10 pips per trade.  This can produce great profits for a a long time, but the drawdowns are hard to stomach and the possibility of a streak of losing trades that wipe out your account is always there.

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