After Channel bound was broken MD Strategy1 opens position REGARDLESS of price action. Last night and night before yesterday exactly shows this principle. This is a channel trading system limitation. In Channel state You don’t have any acceptable direction confirmation because momentum will be gone and instead of 10 pips profit you will have a one lose trade. Therefore no doubt when channel was broken… We try to think later 
Similar strategy is described here:
triadformula.com/triadprivate/
If price goes in your favour simply watch and wait for 10 pips profit. There are no strong price moves at this time rather looks like chaotic bouncing. If price reaches some support/resistance (some minutes price isn’t able to move in right direction) at least for 5 pips profit I close position and go to sleep Remember - there is a very short time for doubts. Market suddenly can make reversal and you are at least in 5 pips loss. Nothing terrible… Simply watch what will happen in next minutes… Because I don’t have any idea to predict how deep retreat will be. Seems MD doesn’t know. too…
If price move bounce more then 10 pips loss - I assume at least MD didn’t choose right entry point and I set TP to 1 pip profit - my hope or close on any profit. If you look at your trading statements you can see a lot of tredes with ~1-2 pips - MD hope to return at least on 1 pips. After some hours waiting you can see - indeed - MD was able take 1 pip… Wow…
When market wakes up (about 1:00 GMT) it take to short moves in one or other direction before some trend was established therefore MD still waits such long time… Of course such scenario doesn’t happen always…
I close position if it looks like strong turn into wrong direction below 5-10 pips loss to avoid huge loses. It is unpleasantly of course, but for me it seems more safe way.
I like the way you’re dealing with the problem andrisb7. This thread is a good reference for those of us just starting out with MD.
Best Regards,
Matt Jones 
.
Hi,andrish7;
you welcome.Your idea is very important.I think you are right about MD.
I had md from beginning of december. No profit up to now.a lot of small profit ,after big loss .all profit finished.
you said, md went to -10 pips big ı closed position.sometimes MD is going wrong direction -20 pips and comes up closed 1 pip profit.How can I decide wrong direction? could you explain again?and can you write traiding time
about MD direction?
Imagine PietPatPat’s second trade going bad last night and his recovery mode is not buggy i.e. trading with 3.00 lots. Hitting SL would mean a loss of $4650. which is more than 50% of his account balance! Pretty scary. So what to do about this? The 150pips SL seems way too high but if Piet decreased it to 50pips last night his second trade would have ended in a big loss. Maybe turning off recovery mode is the best 
Edit:
Worse for me actually if the 2nd trade hit SL. My account would have gone from $3220 to $900 lol
Hi,Wendly;it is abig loss.it is not acceptable traiding system.from my side the same :no profit from beginning with md.in february total md has 15 trade.13 winning trade %86,6 gets 112 pips.2 loss trade hit stop 139 pips loss.the results is emty work with md.
after that I will try andrisb7 's idea.
Thank you for you thoughts, that sounds very much how MD trades indeed. I think it’s a pretty profitable strategy, but I never understand megadroids SL’s.
You would think that once the price breaks out of this channel you cut your loss and go on ( most time the price stays in the channel which makes this a profitable stratgy). MD actually does this sometimes, when the SL is around 40 pips.
But sometimes MD sets the SL at 100-150 pips, which in my eyes is a desperate move in the hope the price will get back in the channel again. I mean why would you take such a huge risk when the price breaks out of the channel and the strategy is not working anymore…
That would be really bad, just because of 1 unannounced news release 
Yes, I’m thinking about turning off recovery mode. I don’t like that the recovery mode only doubles the lot size when it feels like it. I will probably switch from 15% risk ( with recovery mode ) to 22% risk ( without recovery mode ). Both should give me a drawndown of 40% when 2 SL losses happen in a row. But I will do some testing and calculating before switching.
I’m also thinking about using ModB to set the SL at 50 pips for every trade. This isn’t exactly perfect; I mean I like how megadroid sets the SL between 30-60 pips according to how the market is moving. But a SL at 100+ pips is just to much. It would be perfect if there is a tool that allows megadroid to set the SL at a maximum of 60 pips.
Maybe Doom Lord can code something like this?
I am on the demo account at the moment but my thought so far are:
Set a 50 pip S/L regardless,
Turn off recovery mode.
Either turn MD off after a big loss or manage any subsequent trades by hand. i.e if it goes 5 pips your way close it.
I don’t think MD closes off trades very fast so my thinking is:
That TP is around 10 pip and I have had a lot of trades for 6 pips that have made it to 9 pips - so I am thinking about closing off those trades manually at this point. I would like to have an EA do this.
On a more risky note:
If a trade is enterd and then the price falls by 5 pips maybe open another trade in the same direction. Half the SL to 25 pips for both trades and close of the trades when the first trade closes. Monitor the 5 min chart to find an entry point for the second trade. maybe with a moving average to make sure it’s not falling off a cliff.
My plan is to write an EA that will take a file input of all the trades my MD has made an make them when I run a back test on the data, I will then be able to try out some stratgies based on the main MD entry point. The view would be to make more profit to offset the larger losses within the current MD Trading Framework i.e it’s Entries and Exits.
I have done some calculating and found out I will make 12% profit with 15% risk, recovery mode on. And only 6% profit if I use 22% risk without recovery mode. *based on 20 trades, 95% win ratio and my own results.
So I will do the recovery mode manually.
Anyway time to rebuild the loss.
Looks very promising.
But why you want to open another trade in the same direction and half the SL?
The ModB has this option ( MegaDroid Mod B > FxHarvest ). I don’t know if it’s profitable but I’m planning on testing it together with the fixed SL.
Hi!
The first thing - I am not a trader, but rather software development specialist and former electronic engeneer . Seems this is why I decided to use some robot after some attempts to trade manualy
The second one - your MD profit strongly depends on your broker. At least you should use 2-pips spread broker on EUR/USD.
Alpari UK for example (not Alpari UK Micro). FXCM has about 2 pips, but they widen spread often more then 2 pips during night hours.
Simply look ar WendyL statement:
WendyL System by WendyL | Myfxbook - position was opened at 1.35903
My open price (Alpari UK Micro) was 1.36008 - at least 10 pips (4 digit) worst…
I have fast internet connection and PC designed only for trade even with UPS power supply - it doesn’t matter. Channel calculations depends only on your broker qoutes.
About wrong direction.
Unfortunately I don’t have any tool to predict what will happen after MD 10 pips loss :). At least I preasume - MD wasn’t right at this moment. I simply look on 1min and 5 min candlesticks. Put some support/resistance lines (between at least two extrems) near to current price and watch what will happen if this lavels was broken or honored. And make your decision. If line is broken with power - be sure - changes will happen - in your favour or not - who knows…
But at the beginning simply sit near the MD and watch how it deal with current situation. And may be close on 3-5-7-9 pips profit and go to sleep with peace
In case when you left your robot alone into struggle against human mind and human tricks and human emotions you can see: Forex Market News with Forex Trading Forums & Forex Brokers Reviews
MD profit is 2 pips per week on relative huge 5000 USD initial (Demo!!!) account with reasonable risk settings:( Everyone can calculate how small it is in reality. Only 417.50 for 8 months Exactly two times more then average bank saving account incomes now
Right tool into right hand used at right time
Every strategy, every indicator, every robot is right no more then 30% market time. And our challenge is to smeel somehow when to trade or maybe switch off our MD bot. When allow to take 10 pips or more profit or 1-2 pips are enought…
The main thing if your are here - be sure - your are on the right - financial freedom - way (not Get Quick Rich way )
MD Strategy2:
After MD smells burning (may be more 20-30 pips loses) it waits for next Channel. As you can see last night price found support at ~ 1.3500 and it was enough for opening next buy order with huge 150 SL.
I was read somewhere - “market moves in one direction by two waves”. If second wave is over we would think about reversal. As a blind bot MD wasn’t able to see how risky was decision - price went up about 10-15 pips and then walk to next minimum. Fortunately MD assumption + 15 pips was right and we are a little happy now… Alpari UK Micro was able to take 15 profit, but Fibo Group reaches 11 pips and I close position on 4 pips profit. As you can see on charts the next MD chance to get at least 1 pip happens only on 2:15 GMT after -60 pips draft 
Simply MD would take some revenge after loss. Why SL 150 ? - probability to reach this extrem is so so small… a little bit Martingale approach.
Hi!
I guess you are tired by my posts and this would be the last
Every time MD maximum risks with 6-8 months profit. It doesn’t depend on your Risk settings. My MD was able to grow from 300USD to 800 USD during 8 months with 30-70% risk but loose 250 last night.
The maximal MD risk is 40-60 pips (strategy1) + 130-150 pips (strategy2) = 170-210 pips!!! Please calculate how it affects your account if the worst scenario happens. One night two loses. And the next night - next one. All your profit would be taken away…
Remember: every MD trade risk is from 3 months to 6-8 month profit.
It explains why MD and other robots during long time aren’t profitable.
MD recovery mode promises us - “Sorry, I was wrong, but I am angry and I will recover your loss by doubling lots…”. Of course it works fine if only next lose (or two) doesn’t occur during recovery period. Who knows…
Read about: Fallacies, Part 2. Statistics Is a Pseudo-Science, or a Chronicle of Nosediving Bread And Butter
Fallacies, Part 2. Statistics Is a Pseudo-Science, or a Chronicle of Nosediving Bread And Butter - MQL4 Articles - I didn’t get into deep, but seems they described why MD profit is only 2 pips per week for 8 months
My best regards to all of you - we were invited into Forex market as bait for FX sharks but armed with clear view and common sense we will be to able show some resistance and vitality in the FX market and may be will not dry ours accounts and may be even make some profit Much more then average saving account…
Looks very promising.
But why you want to open another trade in the same direction and half the SL?
Just thinking aloud really. Get some ideas and try them out on some data.
So I was thinking - MD makes the entry and closes for 5 to 10 pips profit most of the time. How ever during the time that trade is running the price goes up and down a number of times so I was speculating that if the price drops below the open price, you open a trade and close it for say 5 pips profit. If that happens three times in a MD trade then you could make another 15 pips a trade.
Ok so you mean: Price is 5 pips below entry of trade A. You open trade B and close it when it’s around the entry of trade A again?
Yeah and it might do this a couple of times before the main MD trade is closed. - So basically you are trying to scalp a few more pips whilst the Main MD trade is open.
Actually I’m on Alpari UK Micro too.
Just started reading about forex scalping. There are so many strategies!! Anyone with a good and working one?
I think I’m gonna turn off recovery mode and set the risk to 0.40 or 0.45 from 0.30 after a big loss in the future.
If anybody has a good working strategy, I’d like to know it as well 
Best Regards,
Matt Jones .