Description

Forex Overdrive is an Expert Advisor that has been very popoular in the industry.  The EA is extremely accurate in its entry and has been updated several times since its launch in March of 2010.  While the system does a good job of trailing open profits and setting profit targets, the systems wide initial stop loss is the most common complaint.  With an initial stop loss of 328 pips, one losing trade can put a serious dent in your trading account.  We've encouraged users to tighten the initial stop loss and to use optimization to find a stop loss level that is a bit closer to the market.

Having seen Overdrive trade numerous accounts with great success, we believe this system to have excellent entry mechanics, just make sure you're weary of the wide stop loss and take some preventative measures. Additionally having a broker with tight spreads will make the performance much better.

Conclusion

A very high win percentage and frequent trader. It rocketed to the top of our leaderboard in the first test and stayed there for months. We did see it hit the big sloploss a few times, but recovered after each loss. It is hard to argue that overdrive makes money, despite its high risk.