Ganon Forex Robot Review
The Ganon Forex Robot uses an automated trend trading strategy that can run on any currency pair and chart timeframe within the MT4 platform. The software has no verified results, no backtests and a no refund policy.
The Ganon Forex Robot is a trend expert advisor from Don Steinitz and the Forex Robot Trader team. It runs in the MT4 platform, scanning currency pair charts for potential trading signals. When it finds a valid position according to its built-in algorithm, it can then place and manage trades on behalf of the user, making it a fully automated forex strategy. On the other hand, if you prefer to trade manually, you can set the Ganon EA to semi-automatic mode so that it will send you a trading signal alert and you can then decide if you would like to manually take a position or not based on your own market analysis. Forex Robot Trader have released other MetaTrader forex robots such as the Odin Forex Robot. In this Ganon Forex Robot Review, we will take a look at the key features of the trading software, the strategy used and most importantly, the results.
The Ganon Forex Robot uses a trend trading strategy looking for large trades using advanced trend detection. It will look for reversals in price action and the formation of trends using an exclusive Strand Theory that attempts to identify the healthiest trend trades and eliminates fake outs. Ganon uses arrows displayed on the chart to show changes in the trend that it finds in real time.
Many forex traders do believe that the trend is your friend. The problem with an automated trading system that is so highly dependent on large trend movements is that it can get whipsawed in and out of a range bound market. The developer has only shared screenshot examples of cherry-picked trades during the ideal market conditions. In reality, the markets will not always be trending which could result in consecutive losing trades.
In order for the Ganon Forex Robot to be able to scan the charts and manage trades, you will need the MT4 platform up and running on your computer or laptop. This may not be feasible for some users, which is where a virtual private server can be useful. A Forex VPS will allow you to remotely run the MT4 terminal around the clock. You can simply login from where and when it suits you to see how things have been progressing.
Now let’s take a look at some of the key features of the Ganon Forex Robot.
Strand Theory
Developed over six years, this new theory is a key component of how the expert advisor finds trend signals. Using the Strand Theory, it looks for the strongest trends and tries to avoid false breakouts.
Multiple Modes
The Ganon Robot has 2 different trading modes that you can choose from. There is the hyper mode which can find more trades for those who like more action, or the normal mode which trades less but aims to catch bigger movements.
Fully Automated Trading
The Ganon Forex EA trades fully automated. Users can simply attach it to any currency pair chart and timeframe. It will then trade automatically according to the programmed trading algorithm built within the software’s code.
Optimised Settings
The trading software has been optimised by the Forex Robot Trader team with optimised settings for all currency pairs. The EA can adjust settings and levels automatically based on the currency pair it is attached to.
Money Management
The Ganon EA has fully customisable money management features that users can adjust according to their own risk preferences. Money management settings include the stop loss, take profit and trailing stops. The software can adjust to work with micro, mini, and standard lots.
ATR Trailing Stop
Once the forex robot has gained some pips it will look to lock them in using an ATR trailing stop that moves as each trade progresses. The point of this feature is to try and protect trades whilst maximising market movements from each position that it takes.
Average True Range (ATR) is the average of true ranges over the specified period. ATR measures volatility, taking into account any gaps in the price movement. Typically, the ATR calculation is based on 14 periods, which can be intraday, daily, weekly, or monthly.
User Interface
Ganon comes with a modern and easy to interpret chart template that display some important information related to the forex software and its current activity.
When it comes to choosing a forex robot, one of the most important things to look for are recent results. This can be from historical backtesting and real or demo accounts.
Ganon Forex Robot Myfxbook
We are disappointed at the lack of verified Ganon Forex Robot accounts. We don’t have any so have no idea of how good or bad the expert advisor has been performing lately.
Ganon Forex Robot Backtesting
If the lack of Ganon Forex Robot results is a let-down, we don’t even have any MT4 strategy tester backtests to see how the robot may have performed on historical data across various forex market conditions. We believe that every developer providing an MT4 forex robot should at least show 99% modelling quality backtests on all the currency pairs and timeframes that a particular automated trading system has been developed to run on.
Despite the Ganon Forex Robot implementing some unique features including what the Forex Robot Trader team call an “Exclusive Strand Theory” along with an ATR trailing stop, we are greatly let down by the lack of verified results and backtests. Furthermore, there is a strict no refund policy. We would consider looking at some alternative forex robots such as the Forex Flex EA which is backed by real results.
What is the Ganon Forex Robot price?
The cost of the software is currently $79. Whilst this may seem relatively inexpensive compared to some other forex robots, there aren’t any real results published to verify its performance.
Where can I download the Ganon Forex Robot?
You can download the Ganon Forex Robot from the Forex Robot Trader website.
What kind of customer support does Ganon Forex Robot offer?
You get email support with your purchase.
What are the best brokers to use with the Ganon Forex Robot?
You can use any MetaTrader broker to run the Ganon Forex Robot.
What’s the minimum amount required to trade with the Ganon Forex Robot?
There is no specified minimum amount required to start using this auto trading software. You should only ever trade what you feel comfortable with and can afford to lose due to the significant risks involved.
What is the Ganon Forex Robot refund policy?
The Forex Robot Trader terms state that there are no refunds and all sales are final.
Is the Ganon Forex Robot a scam?
We cannot say if Ganon Forex Robot is a scam as we have no results to go by. Even so, poor performance does not always mean a forex robot is a deliberate scam, it can be due to many factors such as broker or market conditions and the quality of the trading strategy used.
Can I get the Ganon Forex Robot for free?
You may be able to find a free copy of the robot but it is likely that it will be shared without permission and not include support. It may also be outdated.
What currency pairs does the Ganon Forex Robot trade?
The EA can run on any forex currency pair and chart timeframe.
What are the best Ganon Forex Robot settings?
The best settings for the Ganon Forex Robot are probably going to be those that have already been provided by the developer. They would have spent plenty of time optimising the EA settings so that users don’t have to, unless they want to of course. However, it is very important to adjust the risk and lot size to a level that you are happy with.
Can I change the Ganon Forex Robot settings?
If you have the knowledge and experience, you are free to experiment with your own settings, this includes the lot size, stop loss, take profit, and more. You may wish to test your settings on a demo account to begin with. You could also backtest the robot in the MT4 strategy tester with your own unique combination of settings to try and get a rough idea of performance based on historical data.
What do I need to run the Ganon Forex Robot?
Ganon runs inside the MetaTrader 4 forex trading platform. Most forex brokers offer free MetaTrader 4 demo trading accounts.
How much money can I make with the Ganon Forex Robot?
There are absolutely no guarantees on how good or bad any trading robot will perform, including Ganon. Due to the unpredictable nature of the markets, it is impossible for anyone to predict what will happen in the future with 100% accuracy. You should make sure that you understand all of the risks involved using any automated fx trading system such as the Ganon Forex Robot.
Results are based on historical data. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. There is no guarantee of future performance. You should understand the risks involved with trading. Your capital is at risk.
