Forex MegaDroid

Trading Tech and Tools
1098

quote from page 105 of this thread**
Oh and this might be interesting for the people using FXDD;
Quote:
Recently, it seems that FXDD also implemented anti-MD measures. Only ITFX executes MD trades like a clockwork…

I haven’t got a single MD trade with Alpari UK for weeks now. The future of MD depends on NDD brokers only… Assuming that the new CFTC proposals of 10:1 margin will not get passed.

I got this reply on the Myfxbook Megadroid thread; Megadroid Discussion | Myfxbook

thats what im going off… not sure if its true or false…

btw i also got some trades in the last few hrs will post up all results in my next post :smiley:

@pitepatat… on the spreads vary over time… wat the time i was trading as the market was predictable the spreads went up to some high numbers

@people with doubled lot sizes… perhaps your using very low leaverage ie less than 25:1 or something, so the robot decided there is no way you could reach a stopolss thith these settings and decided doubleing the trade will be safe acording to your risk leve settings,
i remember seeing something like if the risk level is 0 the lot sizes are irelevant… look it up in your MD install manual :wink: i hope this info is helpfull

1099

my MD results in the last few hrs :slight_smile: on 3 demo accounts

FMCX - 20:1 leverage, lot=0.1, risk = 0.1, aggressive true,recover true run in 2 windows - h1 and 15m(2 trades each window) account size 5000
lot, profit, time
0.5, 52, 22:19
0.3, 31, 22:19
0.6, 35, 22:44
0.3, 13, 22:44

FXDD - 25:1 leverage, lot 0.1, risk 0.4, aggressive true, recover true run in 1h window(1 trade) account size 3000
lot, profit, time
0.86, 86, 23:20

IamFX - 100:1 leverage, lot 0.1, risk 0.25, agressive true, recover true, run in 1h window(2 trades) account size 5000
lot, profit, time
1.25, 56, 22:17
0.92, 4, 23.33

enjoy guys :smiley: please note these 3 are demo accounts and will nost likely vary results to live accounts

conclusion:
so what i understand from this is the leverage settings on your account seem to be adjusted for automatically, running the program in a 2nd window with a different time frame seems to be working well,having more money with lower risk nets more trades

resolution… so far im leaning away from using FXDD,
FXCM was recomended by MD when i purchased the product, and IamFX is used by someone i trust, and has VPS
FXCM did do very well even with the lowest risk level, this could be worth leaving my computer on for indefinitly
while last night i was considering refunding MD, i now have some faith in it… even tho it draded heavily agains the trend O.O
the formation rite before the fall is called head and shoulders and indicates a bullish market, the market has a clearly weak uptrend, in a strong sustained downtrend market (seen in 15m chart)
i will open a 4h window for md and hope for some more results, as well as more searching for a great broker to trial

1100

Hi guys,
It is nice to find a site where we can discuss the md robot. I installed md Monday and it took its first trades today. Unfortunately I did not do as well as you guys. I have everything set to default except the risk which is set to .3. GMT offset set to 0 (automatic). I have a $3000 demo account with ibfx. Md made two trades tonight.

lot profit time
6.04 -265 (loss) 21:12
4.09 -0- 22:33

I am thinking about opening a demo account with IAMFX. I tried to call them wed. to ask some questions but got a recording and sent an email which they have not responded to yet. Hope things go better next week. Good luck to all.

1101

please share your findings :slight_smile: as this is 1 of the brokers im quite keen on

and good luck with your next trade, i hope it looks alot better as no1 else has posted a loss this time, even tho my manual trading educations would definitely not authorize the trades MD has taken

1102

lost 40 pips. or 14,000 dollars, on demo.

this software is dangerous.

1103

If you need a good broker for Forex MegaDroid with low deposit minimums, go with FXPro. Simple as that.

1104

Hey, why you stopped updating your stats? And why are your stats on the megadroid website?

1105

well all I can say is that this megadroid after I tested it on demo of ibfx, did not have a good result for me

It won 2 small pips. Then lost 40 big pips which lost 20% of the portfolio.

Thank goodness I haven’t used this on real money!

My hunch seems correct, and those who are posting good things about megadroid are

  1. affiliate or works for the marketers of megadroid
  2. has not been hit by the 1 big loss.

Megadroid works by putting a relatively low TP, as against an excessively huge SL. Thereby, you will time and again win small pips, so it delays the alarm. But when you do lose, you will lose big and will wipe out all your wins + extra lost amount.

Now how do I get my money back? How do I return this software?

1106

I’ve hit 3 big losses but my account is still up 58.5% :slight_smile:
Now let your MD double the lotsize and cover the loss.

I wish MD gives me $ for posting here.

1107

So you tested Megadroid for 3 trades? That’s a great test.

1108

Hello,

I had 1 trade yesterday evening with the result of 1 pips profit. After it started, it went wrong and MD did break even.

1109

Just to say I have been coding EA’s and the one I am working on at the moment wins (small amounts) 85% of it’s trades but when it looses, it looses big time. I call these loosing trades “The Big Dongs” because thats what they look like.

Anway what I have to do is work out a way of taking more profit on the 85% of the trades than the loss from the “Big Dong” Trades.

MD does remind me of this exact strategy. Maybe MD has worked out a way of taking more profit than loss and to be fair only testing it will proove/disprove this.

1110

Maybe you just have to double the lotsize too after a big dong then you have your own megadroid :stuck_out_tongue:

1111

I have tried that but then you get two losses in a row (not often). however I do think it will boil down to MM of some kind.

When I look at MD what I am seeing is:

Large Position Size & small TP.
Trades Infrequently and when there isn’t much price action.
Hopefully by not trading all the time you skip the big dong trades.

These are just my thoughts.

1112

All the robots I have looked at so far have an upside down risk/reward ratio. This is a little troubling since two or three consecutive losses could wipe out most of an account. With all that said I do believe the future of forex trading is in some sort of automation. I’m just not sure we are there yet. I am going to open another demo account for comparison. Testing for a few months is the only way to know if md is profitable or not. Just like manual trading it’s the end results that counts. My opinion only.

1113

A couple consecutive losses ain’t that bad if you use low risk. I have made this spreadsheet that shows how much % I will have left if a serie of loosing trades will happen ( 15% risk, recovery mode on );

The chance to have 3 consecutive losses is extremely small. So when you have more then 3 consecutive losses you can say that Megadroid’s Trading system stopped working due to some changes in the Forex market.

That’s why I will be using some kind of exit strategy;
When 2 consecutive losses happen I will switch from my live account to a demo account. If I get good results for about 1 month on the demo account I will switch back to the live account. The 1 month of testing on the demo account has showed me that Megadroid is still working and the 2 consecutive losses were just random ( bad luck ).
This way I hope to minimize my loss if Megadroid stops working.

1114

Sounds like a good plan. Who is your real time broker? I just opened another demo account with IAMFX. Only been opened a couple hours but the spreads appear to be lower than IBFX for the same period of time. Running between 1.0 and 1.8 (10 to 18 pips)

1115

I’m using ATC broker, spread is around 0.3 - 0.8 pip.

1116

hey all,
I am new to this and have just started with MD, so far a couple of small winning trades.:smiley:
I am on FXDD and FXCM but am looking to open Alpari and ATP Brokers based on what you have been saying, they appear to be better brokers.

Pietpatat - do your ATP brokers (atpbrokers.com) use an FXDD account as I was sent an account opening email from them?

Just a few questions about the set up. When I drag MD into a window it shows the GMT as +2 for FXDD and +1 for FXCM. I checked against the MD manual and it said I should have +3 for both. Not sure if this is because I am in the UK and not the US?
So I emailed support and they said this:
‘Please, use +3 with FXDD in summer time. The values of GMToffset for FXDD at 2 and FXCM at 1 are correct because it is winter time now.’

Does anyone have an idea which is correct?:confused:

Thanks

1117

Didn’t the sales page say something like 99% winners? lol…