EA Review: Dragon Forex

Today we will be putting together a fully review of a new automated robot, Dragon Forex. This unique software is built to trade the GBP/JPY exclusively. The developers of this software started doing in depth research in June 2016 and targeted the GBP/JPY pair because no other pair moves the way it does.

The product is sold through ClickBetter. There is no information about the location of the offices, but support can be contacted here, admin@dragonforex.net. For more robot reviews go here.

Dragon Forex Review

What interests me about the Dragon Forex robot, is the in depth discussion of the strategy. This isn’t something that we see frequently, so it certainly is worth some of our attention. That doesn’t necessarily mean that it’s going to be a slam dunk, but it starts off with a few extra points in my book. Often, developers don’t focus on the strategic elements at all and they come across like marketers. I only want to get involved in real traders, and I believe that’s what we have here.

Details

• Type: Forex Robot
• Price: $199 Yearly, $499 Lifetime
• Strategy: Price Action
• Timeframe: H1, H4
• Pairs: GBP/JPY

Strategy

The Dragon Forex trader utilizes two timeframes, which is quite rare. The strategy uses price action to pick up on “the wide and volatile swings the pair tends to make on a day by day basis.”  They believe that the high volatility is something that they can use to beat the markets consistently.

Results

While the strategic elements are impressive, the results haven’t been as fruitful. The Dragon Forex system has actually been on a prolonged losing streak since the beginning of February. The last winning trade was on February 7th, and since this date the account has lost 130%. This is a major drop that has contributed to a drawdown of 53.55%.

The account is still up +46%, but with a loss of 130% in the rear view mirror its hard to believe this account will be able to bounce back under it’s current construct.

Conclusion

While the presentation of the Dragon Forex interests me, and the price action strategy alongside the GBP/JPY pair seems like a done deal, it’s not. There seems to be some sort of failure in the execution as the software has been losing trade after trade for well over a month. Hopefully they can bounce back but there is nothing online that suggests that they will in the immediate future.

Thank you for stopping by and checking out our review. I hope that you can spend more time learning about Forex Robot Nation and what we have to offer this community. Feel free to check us out on Twitter, Facebook and YouTube.