Thanks for that info… I never took that into consideration. I’m going to look into CBS.
I really want to get into this, just haven’t pulled the trigger on a broker yet.
A powerful start of the month on my MD account with +380% of pure profit already: FxPro_MD System | Myfxbook
Looks pretty good. I got positive trades today also. Just out of curiosity, what’s with the ‘track record not verified’?
Privacy matters. Haven’t got too much trust for MyFXBook.
I’m opening up a demo account with CBS and I get this notification:
Advantages of Trading with FXCBS:
· Spreads as low as 1/10 of a pip on all trading pairs.
· Lowest Spreads and lowest Commission Charges provided by any ECN/STP Broker.
· Inter banks prices and spreads.
· No dealing desk. No re-quotes.
· No conflict of interest. All your trades are straight through processed anonymously with our Liquidity Providers.
· No restriction to trading styles. All trading styles are welcomed including hedging and scalping.
· [B][U]Maximum leverage offered is 1:100.[/U][/B]
· Fund your account either by Wire Transfer or Credit Card.
· Free charts and news.
· 24/5 Multi Lingual customer support.
· Account Manager is assigned to you within 24 hours on your demo account registration to advice and support on all your trading related inquiries and questions during your demo and live account phase.
would having a leverage of 1:100 be a setback compared to other brokers that offer leverages of 1:500?
How’s this software working out for you guys ?
Best Regards,
Matt Jones 
I’m still unsure after testing it since July with two different brokers. I was up 10-20% on an ECN broker then last week lost in a big way with GoMarkets and am down about 10%. Testing with two new brokers, FXOpen and FXCBS. FXCBS looks the most promising. It still seems to be the best “robot” out there but non the less… the appalling risk to reward ratio makes me nervous every time it trades. I’ve gone over two months with nothing but winners then one loss puts you in the hole. Bravehoststamps will have some more insight.
Mind posting what your settings are?
If you were up 10% and now you are down 10%, after just one trade, then you lost at least 18% of your money.
You mentioned, you opened it in July, but lets just use Aug for an example. Based on Bravehoststamps and the MD website, and others around the net show profits of about 1% a day. So if your account was opened Aug 1st, then it should have been close to 90% profit at this point, since 30 days per month x 3 months.
Have you been trading everyday? Any reasons that you can think of that will explain why your account is not similar to others?
GoMarkets is an Australian instant execution bucket shop (as opposed to the market execution STP/ECN brokers like FXCBS or FXOpen), so a single spike, requote, or slippage can kill your account there.
I have .3 risk, aggressive ON, Recovery ON.
The loss was on the GoMarkets account which stopped out on 10/27 for a loss of $385. Lot size was .49. ($2000 starting balance as of last July some time).
On my IamFX demo the same trade triggered but there was a couple of pips difference from the GoMarkets accnt which made all the difference. IamFX never took that loss. It was literally a pip or two in the entry that made the difference.
Since that loss there has been one trade but it traded exactly the same as two other demo’s I have running now (CBS and FXOpen). There was no “recovery” trade. No doubling of lots until the loss has been recovered. The same went on both accounts a couple of months ago when there was a loss. There was no “recovery” like I’ve seen in other people’s results. I’m not sure why. Perhaps it’s because it can’t double the lots due to the account size and how much leverage it would take. I’m not sure but after the first loss my accounts did recover and was up to about $2200 then that loss put me down to $1897 (after a $17 gain from yesterday) Again, no loss on IamFX.
This is why I’m still unsure about megadroid. Maybe i should lower the risk and the recovery mode will work better? If anyone can shed light on this I’d appreciate it.
From my own observation, Aggressive False is better. Bravehoststamps is using Aggressive False.
With version 1.21, I had it on Aggressive and a trade opened. It was earning a nice profit, but then it didn’t close out the trade, and reversed into drawdown. This happened in September. Check your history, and look at the opening price and TP price and figure out what MD was going for on several trades. MD was working just fine with 1.21 back in July, and then I think it’s because of the market change that it stopped working so well, hence the updated version. With the new version, it’s much more Aggressive because it opens an hour earlier. I won’t use Recovery at all.
I’ve heard arguments for and against both aggressive and recovery modes and I feel like I’m no better off than when I started. I think I will leave the risk setting the same and change one of my accounts to Aggressive off and recovery off to see what happens.
The people at MD said that aggressive mode means that it will trade when the market is NOT necessarily trending and we all know this only happens around 40% of the time. The argument I heard for recovery mode ON was that the chances of MD having two losing trades in a row is very slim so the odds of the ‘recovery’ trade being positive is strongly in your favor therefore helping recover that loss more quickly. Of course, the risk of this if there were to be two losing trades in a row would clearly be pretty catastrophic. I suppose if you’re using Megadroid for years and years it will be only a matter of time until it loses twice in a row, the second being a game changer, so I can see the argument against it too.
The default settings are with both of them ON so how much credit can you give the MD people? Are they trying to appease people who are, in general, impatient? Or is that the settings they genuinely use with such good results?
I would say they are attempting to appease people who complained it didn’t trade often. Aggressive works well, but can also work against you and not TP and reverse.
Just a note to say GoMarket’s (my losing accnt) took a sell trade about an hour ago and profited 13 pips while FXCBS and FXOpen remained silent. Lot size on GoMarkets remained similar to previous “non-recovery” trades.
+397% of pure profit already: FxPro_MD System | Myfxbook
Any results with other brokers from the Megadroid users here?
Trading on demo with SmartTradeFX I had 1 trade on Monday for 3.6 pips and 1 trade on Tuesday for 12.3 pips. With FXCBS demo I had two trades on 11/2 - 1 for 2.8 pips and 1 for 1.6 pips.
2 trades for me at Go Markets on the 1/11 one for 3.6 pips and 1 for 2.5 pips both winners also one on the2/11 for 12.6 pips also a winner
Wow, that’s a pretty impressive result mate …
Best Regards,
Matt Jones
What are your settings? .05 risk? Aggressive and recovery FALSE?
I know you’ve had other accounts. Have you always used the same settings or varied them? If so how have your results differed?
Cheers.
My Megadroid settings are exactly as follows:
0.3 risk level, RecoveryMode=On, StealthMode=On, AggressiveMode=Off, all other settings being default.