Big fat losses. Been there, done that, know ur pain. Why do we accept 50 pips SL with 2 to 10 pips TP from our EAs? Try LMT if you are totally exasperated, but I’m not giving up yet b/c the official site DID NOT have a loss Thursday. I have a live acc’t w/IBFX and have had two manually closed out Megadroid looser trades, each around 50 pips - one last Thursday, which is in contrast with the vendor’s performance claims. From others’ comments and my reasoning: it seems best to just use the recommended broker, ForexMeta, with a lightly loaded machine, probably your own that you control, with tons of RAM, fast cpu, lots of swap space, etc., and just dedicate it to Megadroid, using standard settings. I too fell into the trap of setting up two charts, with high risk and the MD EA on a 1 hr and 30 min. Gosh, more trades and money! Great, but oh, the losses! Apparently MT4 is: very sensitive to 1.) data feeds; 2.) cpu power; 3.) closing two trades at the same time. I think it has trouble closing out two trades at the same time because it seems to give up on the trade w/the larger stop loss, at a congestion point. Never mind the unique ref. numbers. That’s bad though, because it too was in the money (assuming you have the time to watch it) for a few minutes. Officially MD waited 9 more hours, to get 1 pip in-the-money, though it could have had 10 pips like the other 5/22/09 trade.
Similar to Megadroid, I have a non-MT4 droid, Forex Ambush running with AutoTrade at FXCM. Ambush claims, and I cannot dispute, 100% no-loss trades, 100% of the time, since 10/08. AutoTrade TP is always 15 pips. Boring, sure. But this technique may interest you: Trading the robot’s signals manually, others report making over 500 pips during trades w/heavy Ambush (or Megadroid) draw down. So it’s a blend of robot plus manual. Given any robots’ short signal, lets say, the trade immediately goes against you. OK, in another account, you use your own trading methods, and decide to go long. Then at the perceived peak, you SAR (close out the Long and go Short) in either the robot’s account and/or the other account. Now you have legally hedged against your stupid robot’s too-soon short, and are in a better position for your new short, better because the robot has a higher likelihood of at least returning to break-even. repeat for each new peak, if it occurs. Your TP for all shorts is now break-even. Or watch it. If price is falling with momentum, ride it down until your own methods say all shorts are done, or close then out one at a time. (trend line breakout, osc, MA, etc.).
Assuming you have $500 left over, your microlot Forex life is just starting. Forget about the money, and just make loving pips for now.
I also got some good advice from Nikko here in the forum. I am going to trade with LMT next week. You can use that system on any timefrime, only thing is you have to monitor it closely then and not just 10-15 minute a day.
A friend of Nikko even told him he used LMT on the 1M frame and was very profitable.
Robots…well I had it with the robots for now. Sure : if you start with 10 grand in your account you can take 800,- in one week and 375,- in the other, but I had my account build up to 1500,- and am back at 571,- at the moment. BUT : I know this will work with the right system, learning and the right personality. Starting tomorrow (Sunday at 1500hr the market starts here in Canada because of the time difference) I will put LMT to the test. Just spent some hours on looking at the charts in the past and with the signals what it did if I would have traded according to the LMT formula, and most of them are all winners ! Just have to wait for the right signal and go in.
BTW I had sent an email to Megadroid about the losses from last Thursday, because it’s strange : I always had only one trade a day and now 2 loosers in 1 day and this is their reply :
[I]Thank you for your email. Take notice that if you see any error message on chart or journal trade will be stopped. Also if broker provided inappropriate conditions for trading it will result in thin and non-profitable trades. It was absolute by accident. Results can differ between different computers with the same broker and settings. [/I]
– Your welcome. True it seems, all robots need baby sitting, and what I have described is complicated, and who knows, maybe LMT’s 82 % will be quite good enough. I would very much like to hear your LMT results.
Hi bravehoststamps–Thanks for starting this thread; I really appreciate your specific posts and information.
Gang, I have traded megadroid since May 18 on a Forex.com demo account with out-of-the box settings. It has only traded three times: May 19 buy for $2.10 profit, and May 21, two losers–both sells, for a total loss of $66.50. Forex.com is being used by others (hi, fxtrade and djlinden), so I’m a bit mystified and don’t want to go live yet. I’m am fx and computer savvy, so I’m confident that I’ve installed it correctly–Version 1.11, lot size and risk level both at 0.1. Anyone else have a weird day on May 21?
There are some who say they will run this into the ground when they want to sell another robot. Makes a kind of sense. However, were you to keep the original version and not download updated (and potentially damaged versions), is there any way they could do this?
The robot only seems to trade at certain times, can anyone narrow down exactly when these times are (GMT if possible)? Would help avoid computer up time when not trading.
BTW, my experience first day using MegaDroid (Live account starting with 277.- and using 0.1 for lot and 0.3 for risk) - 2 trades totalling 25.- profit.
I did, like many others, have a losing day on may 21-22. Some poeple say
it’s bound to happen, you can have ALL winning trades, but instead of a small loss, I hvae big losses on all of my accounts. I have 3 accounts,
1 live with forex.com, and a demo with fxdd and alpari us. I had the biggest losses on my demo fxdd account. My demo alpari account was the one with the smallest loss. I think droid works best with alpari, especiallly during bad market conditions, maybe that’s why the owner’s recommend it. Anyway,
my alpari account has already recovered, and live live account with forex.com, almost. My fxdd demo account lost almost half of the account and has not traded since. I may get a live account with alpari us.
Thanks for the details on this, FXTrade–I actually have a live Alpari account so it may be time to hook up the megadroid. I’m used to some loss, but it’s good to hear that it wasn’t my settings out of the gates, being new to this EA.
Pacmed, from what I’ve seen, most EAs are sold with an expiration date built in. My understanding is that the megadroid trades around the clock, but there may be a few hours where it shuts down. I just remember something in the marketing material about how it’s always looking for a trade.
Just a brief update for those following my MegaDroid whereabouts. This week I am finally launching the robot on a real account on IBFX (will post the live statement link here once this is done). In the meantime, I also decided to give it a try with an ECN broker - brokers of this type charge comission for every trade yet do not manipulate the market data and thereby do not trade against you. My live results are available at MT4 Stats - Share your MetaTrader 4 Statements with the world (5% risk, default settings). The broker’s name is ATC.
These were all demo accounts. I did not interfere manually with any of them - all trades were placed by the robot automatically (both opened and closed). The GMT offset for the brokers is automatic - the robot’s manual explains it in detail. I think the reason for which the broker is more active on some brokers than on others is their different spreads. The smaller the spread, the more frequently the robot trades.
I would shy away from IBFX they have bad off quotes on live accounts. My personal live experience, Best are Alpari & FXPRO see my stats although they are monthly my live accounts go back to March and only had 2 losses the bad one as they all say was 21 May but that was a volatile period that NO robot could handle.I usually hover over the trades like a hawk and 21May was the only time I didnt so sods law I got hit…errr �245 but recovered that in trades and shortly after with other Brokers with MD.
Some June stats to show if trades were taken LIVE on a VPS.
I decided to manually intercept and close trades Weds night 3rd June, because the market was DOWN but later in the morning (Thurs) after reviewing price action it actualy went up in the Tokyo session,and I could of left the trades to manifest into higer closed profits, but hey its a profit what ever.
The 21st May trades was a suprise but its a volatile time and the VIX is above average for volatility and currencys lack direction in generall these days so caution to be thrown into the wind as they say.
You CANT refresh the stats because Ive disabled this to help with my memory on the VPS as its erring on a low side.
I find either the MD or MT4 or both leak memory and need to reboot the VPS about once/twice a week as it gets close to 100% maxed out momory.
Me too!! Cant fault but wish prices came down…The only way to judge a good VPS is the support and response times.
Ive had superb support and emails get mostly replied to within hours not days.
I recommend them Ive got 5 MT brokers running on the 35 USD standard package but memory leaks I thing the MT4 or EA or both so a reboot to flush the virtual memory every few days is fine.
Over the week that has passed, MegaDroid made 5 more profitable trades in a row on my ECN account with ATC, bringing my total balance up $4 469.66. Statement: apatc50.mt4stats.com
HI bravehoststamps, great your operations congratulations.
Is it posible that you tell us your megadroids configuration please?, maybe are you using gmt trick to work in different hours?
hi, anyone has some account with mbtrading? i know it is in beta fase but if you fill the form they give you a live account.
It could be a good opportunity to have a low cost ecn that work with megadroid, or what do you think about?