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Tested Result: testing
Forex Mutant
 

Updated: January 2010

Profitable: 2/10

Easy To Follow: 1/10

Honest Result: 1/10

Support: did not test support

Bonus Value: 5/10

Results: 2/5

The Good: 3 Manual systems

The Bad: Not a fully automated system. Involves a lot of manual trading work. Too much Hype around it.

 
 

You got to be kidding "Forex Mutant"? lol. This is one of the most weird names I've ever seen for the forex system.

First bid disappointment - Forex Mutant is not a EA. It is a manual system.The site says you can trade any pair in any time frame of 15 minutes or more. It says it's better than an EA because you learn to use your judgment as to when to trade signals. Sounds like we're back to the subjective manual systems that tell you "when you might want to trade."

They also give some selective performance, but don't tell you which pairs or time frames they're trading. I guess they can just cherry pick the ones that worked best in the past.

The first system is an indicator that doesn't show anything on your chart, but gives signal alerts when a signal occurs. Default settings are tp of 5 pips and sl of 45 pips, but you can change this to whatever you like. You need to adjust these for the spread otherwise MT4 won't accept the trade unless you are using Forex Executor Pro.

They also offer 40-60 pip trend following system and two indicators 70-100 pip breakout system! All of them have proved to be inconsistent. Profit comes along but one SL can wipe it all. One more disadvantage - the advanced version indicator repaints which means that new signal dots appear "on history" when you reload the chart but you don't get them in a real time trading..