The devs reveal that Pterodactyl Forex Robot is one of the most advanced systems they have ever created. As such, they have tripled the amount of code used to create it. This supposedly enables the robot to devour any Forex chart in your path.
Pterodactyl is among the cheapest EAs out there because the vendor expects you to only pay $49 to acquire a lifetime license.
Pterodactyl Forex Robot trading strategy
Pterodactyl chases big trades on trading charts utilizing advanced fractal computations and retracements. The vendor also informs us that Pterodactyl is the full automated version of their famous Fractal Breakout Forex Indicator. So, it ascertains the likely price direction in the market using fractals and then places trades at strategic points. The robot is able to filter out false signals as well.
Pterodactyl Forex Robot features
This robot comes with several features, which we have listed below:
- A powerful money management system designed to maximize your trades and minimize risk.
- The system enables you to hide your stop loss and take profits from brokers.
- Iyt uses several real time computations to ascertain the overall appeal of a signal prior to using it.
- The EA works with any pair you want.
- It’s easy to set up.
- It can be used by anyone regardless of their trading experience.
- It’s compatible with other robots.
- The robot trades on the MT4 chart.
Pterodactyl Forex Robot backtesting results
We could not find backtesting results for this system in the presentation. Clearly, the devs have downplayed this data. Consequently, we are in the dark with regards to the kind of trading outcomes it produces on historical data.
Pterodactyl Forex Robot live trading results
The above results are not from a reputable site like FXBlue or Myfxbook. As you can see, the data is presented in a backtest format, and there’s no way of telling if the results are credible or not.
Moving on, the account had a standing balance of $5535094.63 at the beginning of February. The EA used this amount to carry out 718 trades and made a profit of $45046.10 as a consequence. There was a low maximum drawdown (0.01%), a sign that the trading risks involved were minimal.
Pterodactyl Forex Robot reputation
Pterodactyl was founded by Don Steinitz, who practiced accounting in his father’s company before he moved to Las Vegas and began gambling. He eventually got tired of the vice after 30 years. The idea to develop Forex robots came as Don searched for something more satisfying. In the end, he teamed up with several programmers to create trading products for Forex. Currently, the company’s portfolio features a diverse list of bots, which include but are not limited to Hedge, Waverunner, Odin, Falcor, and Ganon.
There’s a page for the parent company on FPA, and although 270 reviews have been posted so far, the last one was written in January 2020. The traders have narrated their experiences with the company’s products, including Pterodactyl. However, we cannot pay much attention to them because they may not reflect the current perceptions traders have about this EA.
Pterodactyl Forex Robot review summary
- Strategy – 4/10
- Functionality & features – 5/10
- Trading results – 3/10
- Reliability – 3/10
- Pricing – 8/10
The devs would want us to believe that Pterodactyl is reliable based on the incredible performance it has displayed in the live market. But we have our reservations since the live data available is not reliable. In any case, the EA stands out for being cost-effective and user-friendly. This makes it easily accessible to many traders.
