I would also like to caution those who are tempted to use and/or distribute illegal copies of Forex MegaDroid mistakenly thinking that there is no way for the robot’s developers to find out about it. They might do it selectively, based on the CB receipt numbers - once they notice that the same CB receipt number is being used for authentication by many users. Likewise, they might track down only those users whose CB receipt number is used for authentication by others. They won’t need to obtain any information from the user’s computer for it - it is enough for them to look up the info in their sales database.
The first week of my Forex MegaDroid forward testing with four different brokers is over. Below is its brief summary with links to my streaming account statements (the initial balance on each account was $3000).
IBFX: $3137.10, 5 trades, 4 wins, with 1 more profitable trade currently open bringing the account’s total up to $3168.78. Streaming statement: MT4 Stats - Share your MetaTrader 4 Stats with the world
Alpari UK: $3146.66, 5 trades, 5 wins. Streaming statement: MT4 Stats - Share your MetaTrader 4 Stats with the world
FXDD: $3115.60, 5 trades, 5 wins. Streaming statement: MT4 Stats - Share your MetaTrader 4 Stats with the world
Forex.com: $3084.40, 4 trades, 4 wins. Streaming statement: MT4 Stats - Share your MetaTrader 4 Stats with the world
Yesterday’s only trade on my IBFX account which failed to reach the TP level eventually closed with a small loss. Yet is was far outweighed by today’s two new trades both of which closed in profit on all four accounts. Hence, the current situation on my accounts is as follows:
IBFX - balance went up to $3198.86: MT4 Stats - Share your MetaTrader 4 Stats with the world
Alpari UK - balance went up to $3185.85: MT4 Stats - Share your MetaTrader 4 Stats with the world
FXDD - balance went up to $3151.60: MT4 Stats - Share your MetaTrader 4 Stats with the world
Forex.com - balance went up to $3118: MT4 Stats - Share your MetaTrader 4 Stats with the world
How is it going for those of you who are also testing this robot?
It looks too good to be true.
However, may I ask a couple of questions:
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Is it just ex4 file for MetaTrader?
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Is mq4 source code avaialble?
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What type of trades are initiated: scalps or swing?
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What are target-profit and stop-loss (average in pips)?
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Is it giving alerts/writing logs, etc?
My idea is - I’m not using EA, but would like to follow their signals and enter trades manually - is it possible to do this with this robot? -
Which sessions (London, NY, etc) and which currency pairs could be traded?
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What is the strategy behind this robot? Is it trend-following or what?
The sellers of this robot don’t even have return email address on their web-site, so I cannot ask these questions from them directly.
I’m not expecting any wonders from this next EA, which is sold
by numerous affiliates.
It’s a set of files, including ex4.
No.
Neither, although many mistake them for scalps.
They differ every time (the MM is quite sophisticated).
It trades for you in a fully automated mode, all by itself.
Asian, EUR/USD.
RCTPA (Reverse Correlation Time and Price Analysis) - they claim it to be their unique development.
Customer support is available upon purchase.
Part of the reason it made me so interested.
Guys - remember fabturbo was great when it started and now it is rubbish - this will go the same way when they have another robot to sell - I am sure 
Be careful
punta
FAPTurbo went south after brokers increased their spreads. What makes you think MegaDroid will follow FAPTurbo?
FAPTurbo went south after brokers increased their spreads.
My spreads are the same with Alpari UK as they were when i started trading the robot in December - so that aint the reason. They keep updating the version on FT, I started on V23 and now I think its V45, and this seems the worst one yet they have just got progressively worse.
I still trade it every night, HOPING it will come good again.
What makes you think MegaDroid will follow FAPTurbo?
They will want you to buy the new all singing all dancing new robot that will come out after the megadriod has had a good run 
- how else will they keep getting people to part with there money.
Punta
I never used FAPTurbo myself - just read about the spreads on forums. So what was then the reason for its failure?
I don’t buy into anyone’s “singing and dancing”. All I care for, just like most trades, is the results. So far, the results are there for me.
I never used FAPTurbo myself - just read about the spreads on forums. So what was then the reason for its failure?
i have to say i do not know - it has always had a nasty risk reward feature.
You are going for 6 pips profit BUT the stop loss is - see below
eur/gbp 6 pip profit 112 SL
eur/chf 5 pips profit 53 SL
That seems to be the problem - it has lots of small gains then hits a BIG loss and wipes out all profit + MORE
Interestingly enough, when FAPTurbo was suffering the mentioned losses, none of them occurred with MegaDroid. Just goes to show the two EAs are not identical and the performance of one of them cannot be judged by the performance of the other one.
and what will happen when the new rules come into effect this month
the FIFO rule looks like it will put a wrench into the ea
any comments bout this
i do see that this ea does not follow that rule there first in is not always there first out.
Nothing will happen. The rules are against hedging, and MegaDroid doesn’t use hedging in its trading.
maybe you should update yourself,
new ammendment to that rule FIFO, first in first out, and megadroid does not follow this rule!!
What exactly do you mean by “first in first out”? Please, explain.
it means if you happen to open 2 trades at different points of the day, you can not close the second one until the first one is closed, I see in droids trade history there are times were it opens 2 trades and sometimes it closes the second one before the first one, with the new rules THIS WILL NOT BE ALLOWED!
While it sometimes happens, I am sure the MegaDroid developers will update their robot once this rule is enacted. Will all brokers have to follow it? IMHO, it will cripple day trading for many (not just for the MegaDroid users) and the brokers will subsequently suffer a huge loss of clients as a result.
well DUH
we will see if megadroid fixes there EA
but just in case you may want to find a broker outside the USA.
No reason to think they won’t. When it was brought to their attention that the early version of MegaDroid was not ECN-compatible, they quickly fixed this problem and released a free update for all customers.
Doesn’t look like a problem at all.
we’ll see i’m not going to waste my money until proven.