According to its site, Million Dollar was made with a combination of hundreds of trading strategies to ensure its traders get the best chance at earning profit. We perform an EA review of the Million Dollar Zone, its trading strategies, stats, user reviews, and website to determine its profitability.
Table of Contents
What is Million Dollar Zone?
This is a fairly new forex robot that Scott Freedman created. The software was launched in July of 2020, but the website doesn’t give us much on creator and origin information. It’s MT4 compatible and works on several currency pairs, including AUD/USD, EUR/AUD, CAD/JPY, EUR/USD, EUR/GBP, GBP/CAD, GBP/USD, USD/CAD, EUR/CAD, EUR/CHF, USD/CHF, and USD/JPY. The robot is sold under the mgl5 platform.
EA Monster currently costs $149 for its lifetime package or $49 for three months. You can also get a free demo on mql5. Buying the package gets you access to:
- A robot that has been tested for a decade
- Hundreds of strategies in one
- Numerous breakout strategies
- Numerous trend strategies
- Effective money management
- Configurable hedging and grids
EA Review: Million Dollar Zone
The robot’s website doesn’t tell us much about its trading strategies. All we know is that it uses breakout strategies. These strategies include Bollinger bands, large candles, moving average gaps, price speed, average ranges, RSI, or momentum. Breakouts are potential trading opportunities whereby a currency’s price fluctuates above or below what was set. Price patterns and moving average gaps come in to determine the best time to enter and exit a trade. Breakout strategies are beneficial mainly when you stick to the plan.
The EA also has numerous trend strategies. These include trend analyzers, trend strength filters, and moving average trend filters. Trend trading looks at a market’s direction to trade towards or against it.
Its powerful money management feature includes take profit and stop loss, drawdown analysis, auto lots, and block trading on low margin. All these are used to protect your investment so that you don’t lose beyond your settings.
The robot’s optional hedging and grids include trading both directions, range self-adjusting grids, MA grids, RSI grids, equity grids, timer grids, fixed distance & grids in loss or profit.
Stats and User Reactions
We start with the website, and it’s very professional and appealing. The creators, however, didn’t bother to include important information such as the backtests and the verified account data. The website really has no information we can use to verify whether it’s legit or not. We can’t even verify how well the robot does in the market.
Whoever created the sales page had all the time in the world to show us user reviews. We normally dislike displaying reviews on robot sales pages because we can’t verify how legit they are, but there are no other reviews on the popular user review sites.
Though the robot has excellent reviews, it’s good to note that a company can buy good user reviews, especially if they are going to the site. There is very little tangible information we can grasp on the sales page, and it isn’t right to invest in something you have little knowledge of. For this reason, we don’t recommend using this robot.