Medusa X is a system that was designed by Oon Kar Lee and published on MQL5 not so far ago, on December 28, 2020. The last update to a 2.0 version the robot received on February 19, 2021. The system was demo downloaded 566 times.
Medusa X: To Trust or Not to Trust?
The system is too young to be sure it can make a profit in the mid or high-term range. The other EA of the developer called Paris has lost much gain on the real account. There is no guarantee that Medusa X won’t do the same.
Let’s talk about settings and other details:
- The expert advisor runs the charts automatically without a need for human intervention.
- There are three from ten copies available for $399.
- The next price will be $449.
- It supports two currency pairs: GBP/USD and USD/CHF.
- It uses the next indicators: Trend EMA, RSI, Volatility, and others.
- We can expect that an average profit is five pips.
- The system uses Cost Averaging in trading. This strategy is dangerous to be applied to the real account.
- The robot doesn’t use a Martingale strategy to increase Lot Sizes on trades after a loose deal.
- We’re suggested to work with a low number of currency pairs for a stable performance.
- The trading system was backtested using real trade data from brokers.
- It executes orders on the H1 time frame.
- Trading requires $500 of the margin.
- We can trade with the medium level of leverage – 1:500.
- The robot can be used on IC Market, FXTM, and ForexChief brokers. The developer gives us a referral link for registering.
- There’s no big deal to set the system on the terminal.
- We can check the settings to know what to expect from the robot.
Medusa X can be bought for $399. There are several rental options for those who want to give it a try. The one-month rent costs $120. The three-month rent costs $250. We can download a demo version of the system to try it on the terminal. There’s no money-back guarantee provided.
Verified Trading Results
We have a GBP/USD backtest report. The time frame was set H1. It was tested on the 2016-2020 year data. The modeling quality was 99.90%. An initial deposit was $10,000. The total net profit amounted to $64,903. The Profit Factor was 1.86. The maximum drawdown was 50.56% ($30,312). Medusa X closed 3421 deals with an 89% win rate for Shorts and almost 90.95% for Longs.
We have a real SGD account on the IC Markets broker. The leverage is 1:500. The account was created in December 2020 and funded at $500. The win rate is 94%. The maximum drawdown is 39.3%. The Growth has become 76.59%. The balance is 882.97 SGD. The account is live for 20 weeks. We can copy these signals for $50 monthly.
The robot has made some profits from 21.41% to 3.86%.
An average trade frequency is 38 deals and an average holding time is twenty-two hours.
The robot has closed 621 trades. The recovery factor is 8.11. The best trade is 29.26 SGD, when the worst trade is -26.57 SGD. The maximum number of consecutive wins is 60 deals (42.23 SGD). The trading activity is 97.77%. The robot trades Long (312 deals) and Short directions (309 deals) equally. The Profit Factor is 2.47. The average monthly growth is 6.00%. The annual forecast is good – 72.75%.
GBP/USD is the most frequently traded symbol – 451 deals when USD/CHF has only 148 deals traded.
The robot works with medium drawdowns that are apparted on the periods.
The company is from Singapore. The vendor has a 2179 rate on MQL5. There are 13 signals and 11 products provided.
We can see how robots work on the account. It’s a solid level of transparency for the EA developer.
There are some positive comments about the system’s performance.