Forex Juggernaut

Donna’s Review:

Ease of Use:

Control of Risk:

Customer Support:

Overall Rating:

We put Forex Juggernaut on demo for testing 25 January 2010. Based on this test, it has posted gains of 150%+. It is friendly for new traders, with a comprehensive manual and few parameters for tweaking within the EA.

The Manual

The manual is very straightforward and comprehensive, walking you through downloading the MT4 platform with pictures and details at every step.  It does not, however, go into much (or any!) detail regarding the inner-workings of the EA, trade timing, strategies, suggestions, etc. Installation of the EA is very simple, and uses a EURGBP 1 H chart.

According to the mauual, Juggernaut is ECN compatible, works with both standard and mini accounts, and uses a sophisticated money management system.  As mentioned earlier, there few settings, but 4 things are necessary to set up:

• Lot size
• Lot percentage
• Trading time 1
• Trading time 2

Furthermore, Forex Juggernaut will run on a $500 accounts; however, $1000 – $5000 is recommended.

Support

Support was quick, polite, and efficient; a request sent was answered within 24 hours.

Analysis

Forex Juggernaut trades EURGBP on the H1 timeframe, and places trades in the late afternoon and evening (GMT time).

There is a warning whenyou want to alter the chart time frame;, you must take the robot off the chart and re-attach it on the correct timeframe.

It uses a take profit of around 7-10 pips (though it is variable) and a stoploss of around 78 pips (also variable, as internal logic is used to exit trades at other points). It trades 1 – 5 trades per day on average. In testing, though, the largest stop hit was 62 pips; often, it was much smaller.

From the beginning of testing, the robot was doing very well! We were using an unusually risky lot size of 1.0 full lot on a $1,000 account, however. Once this was noticed, the lot size was changed to 0.5 lots.

Overall

Certainly all EAs require more than a month on demo, but Forex Juggernaut certainly looks promising. The drawdown is not significant and the profit is more than intriguing. Let’s see how next month goes!

Update from DonnaForex 8 March 2010:

I have had a number of people report inconsistent results with Juggernaut. You can tell if this is happening to you as you will get multiple losing trades on your account in a short period of time. I’m not sure what is causing this at this time but it could be an issue with the coding. When it works, it works really well – which is a real shame!

View Stats Here

Update 24 March 2010

It has been decided to remove Juggernaut from test due to it’s inconsistent results things have not improved over the lasgt few weeks.