EA Monster is a vendor of a Forex expert advisor that touts numerous arrays of settings for hundreds of trading strategies. Recently, the EA monster is being peddled in the new Million Dollar Zone website. The vendor claims that the Million Dollar Zone EA Monster is the one strategy that can be very profitable and at the same time survive a 10-year backtest on multiple pairs using the same strategy.
Scott Fredeman is the person behind this expert advisor and he said that ”95% of every trading idea I have ever had can be set up using the various settings in this EA”. However, he is not disclosing his identity, development experience, or the location he is operating the EA. Nowadays, it looks easier to reach the EA Monster vendor via the contact form on the Million Dollar Zone website. Also, if you have a trading idea, you can contact Scott to know if the EA can do it.
EA Monster Review
The Forex EA Monster was first published on 12 April 2017 and updated to the current version 12.0 on 31 July 2020. The EA allows for a total of 10 activations and so far, up to 2 074 have been downloaded. You will get a PDF manual which is for the recent version and it explains every feature and setting in this EA.
In addition, EA Monster reassures the community that they are always hunting for ”High Probability Win settings in EA Monster that pass a 10-Year Backtest.”
My understanding is that if you don’t have enough account balance to trade, chances are that you will never break even with any of the best Forex robots that consistently make profits.
Software Strategy
The EA Monster expert advisor features a handful of strategy categories namely – breakout, money management, trend, hedging, and grids.
The developer explains the entry strategy and the specific market structure that their EA trades. Their goal is to provide you with hundreds of ways to set up trades, close trades, and filter trades.
Their explanation comes out shallow but we went through all the settings and all we can say is that it is just above average but the hype was just too much.
Trading Result
There are no live, verifiable trading results except strategy tester results. I don’t know about you but for me, We don’t take strategy testing very seriously.
Not only do they waste time, but there’s no point in using strategy tester reports if you can use a statement-sharing platform such as myfxbook.com. With the myfxbook.com platform, we can easily view monthly returns, actual drawdown, the average number of pips per trade, and so on.
Conclusion
The Million Dollar Zone EA Monster message sounds interesting indeed and we cannot just give them the benefit of the doubt if we’ve not had an opportunity to see a verified trading performance. If the robot works as claimed, the vendor should not fear hooking their live account with the myfxbook.com platform and displaying statistics from there.
Yes, we can backtest the various EA Monster Forex robot settings. However, not every trader out there wants to spend time in testing. Most of us are impatient and want a working product right away.
Thanks for reading this EA Monster review. I would like to hear your independent opinion in the comment area.