REVIEW: Over the last few weeks fellow traders asked me to review the Chameleon 2008 system from Renegade FX. The creator Steve was really kind to find the time to call me personally and discuss his product in detail. Also he provided a demo for me.

Here are few points he told me:

1. Chameleon cant be easily backtested because it uses a combination of different strategies that support each other: when one performes bad other strategy will try to fix the situation
2. No refunds are provided. New updates cost you 25% of the current price.
3. Chameleon does not have any affiliate programs because Steve wants to have low number of clients to provide personal support to them.
4. Chameleon is so damn expensive because Steve had to contact each client personally and help with setup. He can't give away it for cheaper price.
5. Chameleon has a number of forward tests on several demo accounts. One of them was blown away because of IBFX spike error in quotes. Other accounts are doing good.
6. Steve is going to release new version in January 2009 and also release we other EAs
7. Chameleon has a number of presets you can use for your trading
8. Steve is going to open a public forum soon.

Update October: After Steve saw my review he decided to add a comment: "As you know I provide profiles that can be loaded with just a few clicks of the mouse, this actually makes things easy for beginners. I know the EA is more complicated than others but I have taken steps to make it usable for the less experienced."