MRNBot.com Review

took a look at the code, seems to use very simple two RSIs (M1 &M15 periods 20&6) and MA (8)to enter trades. I ran some backtesting and result were not good. EA can trade ok for while, but when there is a large drop at night against EA position the consecutive losses will wipe out any acquired profits .. another 30 minutes lost for just another c***py commercial EA...:)

I agree with Wayne and Trance. Have tried it on demo account few days. First time when David gave the manual MRN I was impressed, then MRBot, also impress. I set it trade 24 hours with no money management. I'm going to put to my live account if the next week if constantly making profit. Trading only USDCHF. Will be back with 2nd review.

Brilliant Bot. If set up correctly it will trade virtually straight away.
Set the start and stop times up to trade 24hours. You MUST have a good internet connection. Use 0.1 lot minimum with no money management on DEMO account and watch what happens.
Very low drawdown and this Bot will easily put on 30 to fifty trades a day over 24 hours.

MRN Advanced version vorking perfectly on USDCHF on my live account. I trading with this EA only this pair and I can say that is the best USDCHF scalper which I try till now. Numbers of trades depens from broker to broker but on all my brokers it's working.

This is a terrible EA. It will give you several small profits and then totally wipe them out in 1 day. You will end up losing money with MRN bot, I requested a refund.

I have had 11 trades all but 1 ended in a loss ( Demo) Started on 11/02/10

Like so9j and thamuira, i am very disappointed.

I did a backtest for all 4 pairs recommended (there are 6 pairs listed in the manual but 2 are repeats). For the month of October 3 of the 4 pairs produced a loss, and one produced a samll profit. (less than amy of the individual losses mentioned above).

Clearly it is not a News Reader. it sucks, and they do not even repspond to requests for assistance or refund.

I have been using this EA for over a week now and results have not been good. I have sent 3 emails to support as directed to ask a few questions but to date have had no reply from them...I am inclined to think that I have been scammed. My account has been drawn down and not a single cent added to my balance. I am using the Ultimate version of this EA.

I've just requested a refund from ClickBank. This robot isn't working. For last week, it didn't make any trade. Seems to be an error in the bot. I saw same thing happen in ForexPeaceArmy performance test.

http://www.forexpeacearmy.com/metatrader_expert_advisor/mrn_bot_advanced_edition/demo

My advice is don't buy this junk. Happy Trade everybody!

2010-10-31 00:00 2 Stars I have just bought this EA last week and still didn't make any trade since weekend market close. But for now I can say, the actual EA is running differently compare to the one mention in their sales page. Followings were noticed.

It's not a news trading EA. I can assure that 100%. It's just a copy cat of some freebie EA running at 15Min timeframe in Asian session.
Sales page back testing shows that EA is running 24/5 (at least 18 hour per day) but actual EA is running only 2 hours per day. (23 GMT to 1 GMT).
17 pages manual gives nothing but simple MT4 installation guide and boring manual GMT setup. Not even describe the parameters. (Actually there aren't many parameters but a newbie could face trouble).
There are 3 version of MRN Bot. (Normal, Advance and Ultimate) and there are 3 up sells when trying to buy. I don't know about other 2 Bots but I'm using Advance edition.


That is all for now and I'll update you guys with trading results end of this week. But overall my experience about this robot is nothing but a junk. Cheers.

If you check their website you will find that they are quoting USDCHF at 1.3123. Complete scam.