Meitai Forex Robot - The Chinese Field of Wonders

Meitai Forex Robot is a forex expert advisor from our Chinese brothers. It uses martingale at its core, i.e. the lot increases after each losing trade. Of course, this approach is extremely dangerous, but the example of the Fxoriginal expert advisor shows that sometimes even martingale can be useful. Is Meitai Robot of any use? Let's take a look.

Specifications of the Meitai Forex Robot expert advisor

Vendor's website: www.mtfxrobot.com

Platform: Metatrader 4

Expert advisor version: 2.2

Currency pairs: EURUSD, GBPUSD, EURGBP, EURCHF

Timeframe: M5

Operating time: Around the clock

The expert advisor is installed in the usual way, see the guide to trading with expert advisors if you encounter any difficulties.

Unfortunately, there are no real-account monitorings for this expert, but there is a demo monitor from the marketers at bestforexrobots.net:

The official sales website for the expert advisor, www.mtfxrobot.com, also has results that appear to be from live accounts, but there is no certainty about that.

Backtests

(default settings were used)

2007-2011

EURUSD

GBPUSD

EURGBP

EURCHF

From the Meitai Forex Robot expert advisor tests on historical data, it is clearly visible that this expert is extremely dangerous and, if it is used in trading at all, then only on the EURUSD pair.

Forum discussion