I’ve been using Forex Megadroid for a while and it has provided me with slightly more wins then losses and I can see that more then a few people are making gains with it.
However, as kdh2010 points out doubling up can clean out your account in no time which if you are only playing with small amounts is no big deal plus I find the stability not that good.
I think that I will keep using FapTurbo as my main Forex software as that seems to provide me with better returns and it’s stability is rock solid.
He he, that is a good way to put it kdh2010. I was never much confident in megadroid, just wanted to know if any things have changed. I guess it’s sort of gambling you can say.
It is a program designed to look good on paper. It has huge stops and small wins which, of course, makes a lot of winners. Then it doubles up after a loss, to make the equity curve look good (why not double up during all the winners???).
LMAO. The statistical probability of a win following a loss is higher than of a win following a win. Moreover, you can set any risk level you wish, even tripling or quadrupling the default lot size.
Well, among other things that you apparently know nothing of, statistical probability is another of them.
If you flip a coin and get 10, 20, 50, 100 heads in a row, the odds of a head or tail on the next flip remain exactly the same.
Doubling up is used to make a nicer, smoother equity curve. That is all. It helps sell this program to the public. It serves no purpose in making money. Obviously (do the math, expert), doubling up all the time makes more money (until the inevitable series of losses).
For all the newbies. It is not just the ridiculously large losses and doubling up that is a problem. It is also that getting an order filled on paper is not the same as in real life. When the market goes against the grain suddenly, your broker is not likely to fill your order (he/she is making money at that moment).
Hey, like I said: This program makes for great entertainment. Use it that way.
Megadroid’s strategy has absolutely nothing to do with flipping a coin. If it did, doubling the lot size for a trade following a loss would be of no use - this only makes sense if the majority of trades are profitable and the expectancy of a win is thus much higher than of a loss.
If your broker doesn’t fill your trades, simply switch to a different one which does.
Hi,
I am trying MD with a UK spreadbetting broker and, (as they quote 0.10 lot size on their micro account) MD reads my leverage as 10:1 instead of 100:1 as it is.
It therefore gives me a message that lot size will be reduced as leverage is below 100:1.
this is a problem with many EAs. As UK spreadbetters use £ x pip and not Lots. Therefore what they quote as 0.10 is actually £0.10 x pip which is a microlot.
However, EAs read 0.10 as a minilot and assess size and margin as such.
Normally that is not a problem, just with Megadroid I have noticed it tells me lot size will be reduced.
I cant tell you if it still works as I am still trying to get it to work and as far as “downloading it” (I assume you mean “buy it”) just go to their website here Forex Megadroid
wow, so u mean after you purchased it, it hasn’t made you profit? pls clarify your sentence above why you are still trying to make it work before i purchase because there is soo much noise over the internet claiming its the best robot ever
I’m new to forex and I had some spare change lying about, so whilst taking time to learn how to trade manually on a demo account, I thought I’d also buy MD, open a demo account with FiFX and see how it goes.
I’m currently backtesting through 11 years of data, as the manual suggests.
Hi, I have been following this thread for about 5 months now…and it simply amuses me how people with very little knowledge or experience about products tend to hack it down to nothing.
First, there are multiple ways to setup MD. The stats on their site are non aggressive settings, which means it takes less trades. Second, the data feeds vary from broker to broker. Third, if a loss does occur, its not a big deal, the bot has over 90% accuracy rate that allows it to recover. Fourth, the risk settings can be adjusted to double up the recovery or not…the likelyhood of a 2nd loss in a row does occur, in fact, if you go to their site, you will see this…if you are that worried about that, whenever the bot losses, simply not allow it to double for 2 additional trades, then turn the recovery feature on again…its a no brainer.
If you focused more on the pluses this bot has than the negatives, you would understand that money management can be controlled despite having to depend on the bot itself.
If you are that afraid of losing all your eggs, then the intelligent thing to do would be to take advantage of the high win ratio, build up a targeted amount and then withdraw. Yes, you run the risk of blowing the initial amount, but I’d rather run the risk of blowing an account with a high probability method than a low one.
In any case, if you’re looking for a completely risk free strategy…I think you’re in the wrong business. In fact, I think you shouldn’t be in any business.
First off, you know nothing about my knowledge or experience. But, now I know some about yours.
A 90% win/loss ratio means nothing without considering the size of the wins & losses. You can randomly trade with a stop 10 times the size of your target and win 90% of the time.
Doubling up is just gambling. Since you never know when you may win or lose, the only advantage is to make the equity curve look better. That is so they can sell the program to people like you.
I don’t know of anyone using MD with serious money. Most, including BHS are trading with demo accounts. Some are using small amounts of money. Put 100 grand on the line and I will be impressed (actually, I’d be seriously concerned).
I guess the developers of MD were making so much money with the program that they thought they would sell it to the public as a favor. Use some common sense.
Have fun with it. That’s probably the most you will get out of it.
