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.
The Ganon Forex Robot is another from the same Forex Robot Traders group that have other forex robots which I have reviewed including the Vader Forex Robot, Odin Forex Robot, Reaper Forex Robot, Falcor Forex Robot, Pterodactyl Forex Robot, HAS MTF Forex Robot, Hedge Forex Robot, Volatility Forex Robot, WaveRunner Forex Robot and Directional Forex Robot.
You are probably asking yourself why would they be selling so many forex robots if they all worked as good as they claimed they do. Well, perhaps the lack of verified results across all of the trading robots they sell can help to answer your question. That being said, in this Ganon Forex Robot review, I will be taking an impartial look at this particular trading robot. We will cover the trading strategy implemented, any backtests available and most importantly, real results.
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.
The developer has made all of the Ganon Forex Robot settings externally available which means that you can adjust them via the inputs window when you attach this robot to the charts in your trading platform. You can always just use the default settings provided by the developer that have already been optimised but you should always check to make sure that the lot or risk size is set to a suitable level for your risk preferences as every trader is different in that respect.
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.
Without any backtest results, we cannot get an idea of how the Ganon Forex Robot may have performed based on historical data which is disappointing. I am also concerned to why the developer has not bothered sharing any backtests as I think this is a vital aspect for a trader to consider when choosing any forex robot. Most of the top forex robots nowadays have 99% modelling quality tests, including the Forex Robotron EA.
Ganon Forex Robot Live Results
If the lack of top quality backtests wasn’t bad enough, the developer isn’t even sharing any real live verified accounts of the Ganon Forex Robot. Without them, we don’t have any idea of how good or bad this forex robot has been performing in the current market conditions which are constantly evolving. For this reason alone, I would consider looking at another trading robot such as the Forex Flex EA. They have 99% modelling quality backtests that are also backed up by verified 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! Without any backtests or verified account to analyse, we have no way of backing up the claims made by the developer.
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. Please feel free to browse my forex robot reviews for some alternative options.
Ganon Forex Robot
$99
Pros
- Customisable Settings
- Multiple Currency Pairs
- Multiple Time Frames
- Trend Trading System
- Strand Theory Analysis
- Fully Automated Forex System
- Detailed Instructions
- Free Updates
- Money Back Guarantee
- Full Support
Cons
- MetaTrader 4 Only
- No Backtests
- No Verified Results
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.
