This Legendafx review takes a close look at the expert advisor software that claims it is “seeing into the immediate future with 95.82% accuracy”. Artificial intelligence is one thing – predicting the future is another. So how does the ‘droid measure up in practice? Can it really foretell the movements of the markets?
How It Works
Developed by John Grace and Albert Perrie from out of 38 years’ combined experience in the funded trader forex markets and launched in the spring of 2009, Legendafx uses what is called ‘market adapting intelligence’ to make it flexible enough to achieve a high level of accuracy in a fluctuating market.
The criticism thrown at most automated forex software by many traders is that the robots can only make money if the markets are consistent. The old style of robot that was based on inflexible rules was not able to cope with major changes in the patterns of market fluctuations.
However, the new market adapting intelligence, as you might guess from the name, allows a new generation of forex robots to learn from these changing patterns so that they can adapt to a certain amount of inconsistency in the markets and refine their trading rules to fit. This gives your funds a much better chance of surviving when things become more than usually volatile.
Of course we are not talking about long term predictions. Legendafx’s ‘reverse correlated time and price analysis’ (RCTPA) aims to predict market movements in the next 2 to 4 hours.
At the time of writing, this EA has only been out for about 6 weeks so it is early days, but reports from users on the foreign exchange trading forums are very good. Many people are seeing 90% or more successful trades.
The bot needs to win 5 trades for every loss so a ratio of 90% will make good profits. Keep in mind though that this does not mean always 9 wins followed by 1 loss. You could have a couple of losses in short succession which will eat into gains and could frighten off beginners. Experienced traders know that losses are part of the game and you must be prepared for them.
In terms of percentage gains, users report 10% to 20% increase on live accounts over one month. That is a healthy profit.
Users report that the Legendafx did not at first make as many trades as they expected. People were only seeing 3-4 trades a week. This meant that unless you wanted to risk large sums, you would not have a chance to make a lot of money in a short time, which many people starting out in forex want to do. So this was frustrating for many users.
However, a slow and steady approach is much more likely to lead to long term growth. If this software teaches beginners to look to the long term instead of trying to make a fortune overnight, it will be doing us all a service. So have patience while your bot is sitting there waiting to trade.
Anyway with the recent release of version 1.1, long gaps between trades do not seem to be so much of an issue and users are reporting up around 10-12 trades a week now.
Given all that it does and the research and development that has gone into this, I was expecting it to cost more than the average forex robot. But it doesn’t. At the time of writing, they are running a special promotion which make it available for just $67 and even if you miss that price it is worth plenty more.
Guarantee – 100%
There is a 60 day 100% refund guarantee and you can claim this from the vendor Clickbank. You do not need to contact the product developers.
Legendafx Review Summary – 5 stars
Automated forex software is constantly evolving but this one does genuinely seem to be the leader of a new generation. While there are others that use the same approach, Legendafx seems to be getting the best results. With 60 days to play with it before you have to decide to return it or keep it, you can try it out without risk. Go for it!