In this post I will review another forex robot from the Forex Robot Trader team, this one is called the Ganon Forex Robot and again runs in the MetaTrader 4 (MT4) trading platform which is free to download from some of the best forex brokers worldwide.
The Ganon Forex Robot is fully automated and requires no input from the user other than the initial setup. You can start on an MT4 demo account if you wish to test the waters with the Ganon Forex Robot until you feel comfortable to trade with it on a live account.
I would always use an ECN forex broker for the best possible trading conditions as I find that they tend to have a vast range of liquidity providers (LP’s) which can give lower spread, slippage and commissions. An ECN forex broker can also tend to have the best bid/ask prices which can help forex robots such as the Ganon Forex Robot.
Ganon Forex Robot Trading Strategy
The Ganon Forex Robot uses a “strand theory” that according to the Forex Robot Traders developers took 6 year to develop. This strand theory technical analysis aims to pinpoint the start of trends and ride them until the end and thus the Ganon Forex Robot can be considered to be a trend trading forex robot.
There is however 2 modes to choose from – the hyper mode which trades more frequently and the normal mode which looks for the mid-long term trend.
Personally, I would go for the normal mode to try and filter out some false trends from the hyper mode and also run the Ganon Forex Robot on the major currency pairs such as the EURUSD & GBPUSD as I find that they tend to have lower trading costs and some frequent trends due to the amount of liquidity of these pairs.
Ganon Forex Robot can be used on all pairs as the strand theory will attempt to adjust to current market conditions and the currency pair that it is running on.
There are results shared by the Forex Robot Trader team on the official Ganon Forex Robot website although I would like to see the results verified by myfxbook or FX Blue for added peace of mind.
Ganon Forex Robot Back Testing
There are no back tests shared by the Forex Robot Traders team on the official Ganon Forex Robot website. It would have been useful for potential users to see 99% modelling quality back tests using Birts TDS in the MT4 strategy tester. This could have given an idea of the historical performance but of course would be no guarantee of future performance. For the upmost accuracy, back tests can be conducted using real tick data, variable spreads and including commission, swaps and slippage.
Ganon Forex Robot Live Results
To see the latest live verified trading account performance of all forex robots please visit my best forex robots results page.
Ganon Forex Robot Summary
Overall, the Ganon Forex Robot is another robot from the Forex Robot Trader developers that does not have a verified trading account for us to verify the performance, as much as we would love to!
I would run it on a demo account to begin with to get an idea of what to expect and what pairs/settings suit me. I would also give it a thorough back testing with Birts Tick Data Suite in the MT4 strategy tester to get a clearer idea of what to expect based on historical results.
The Ganon Forex Robot does come with instructions, support, updates and a money back guarantee. It should be noted that there are no guarantees on how any system will perform and historical results are by no means an indication of future performance.