"…Actually I’m on Alpari UK Micro too…"
Seems there are some misunderstanding things. The same provider, the same quotes and so different open positions…
WendyL, do you run MD on VPS?
I am trying CloverixEA as other scalping robot. Forex Market News with Forex Trading Forums & Forex Brokers Reviews results seems promising but there are two bad things:
It works without SL - can you imagine what will happen if market moves against you in flash mode and your close requests would be refused because of requotes - your account would be drained…
Standard ex4 file doesn’t allow set SL at all. Gays send me another ex4 file, but with bugs, too. Seems, development problems
If you would like to find some profitable scalping strategy you have to do a lot of math works. Really. Because most of them promises 99% accuracy with 100 SL and 5 TP. Take a look into Fallacies, Part 2. Statistics Is a Pseudo-Science, or a Chronicle of Nosediving Bread And Butter - MQL4 Articles and think about probability of sequent losses - most dangerous scalping thing.
I give up Our SL matches and previous trades entry points, too.
Seems the faster may be not the better always… (think about VPS as fast order executor…)
My last thought - my MD reacted on sharp price move price faster then yours (pc or connection), opened early and take more loss
Seriously, I found a lot of times MD would be in the better position if it will wait a little at least when price reaches some support/resistance level.
How to push MD to wait a little but not too much?
Does anybody have Megadroid source file?
Microsoft Word - 4370C46C-72CC-082DCC.doc [B]page 12[/B] exactly shows why scalping in the night hours is a little bit dangerous and babysitting would be preferred.
Can you keep me updated on the results or make a mfxbook statement? I’m gonna hire a coder that will make an ea that closes a order if it reaches X amount of pips in loss. This will resolve the megadroid SL problem and probably also the SL problem with this bot.
Oh and the link in your post doesn’t work, can you post a new link?
I posted the other day that I had to reboot my vps during the trade after the horrible loss at the end of the week. I contacted MD support about why MD closed the trade upon restarting MT4. Whilst their answer below doesn’t tell me why (I will go back and ask if I could have stopped it closing) they do seem to suggest that we are better running this on a vps an keeping it on 24/5. I know some people have been saying that they only switch it on for the trading hours - could this explain some of the differences in results. Still don’t think it would have helped the other night. At least they came back to me with an answer.
Our customer support team has replied to your support request (ticket # 310135)
Hi Paul Dixon,
Thank you for your email.
1.
In order for the Forex MegaDroid robot to trade correctly, you must leave MetaTrader running and your computer connected to the internet from Sunday evening through until Friday evening. If you need to turn off or restart your computer for any reason, please try to ensure that there are no open trades.
When the robot is not trading, it is collecting information for future trades, that is why being on-line is very important.
I am not allowed to post direct links as newbie, otherwise I will be banned out Therefore simply copy and paste remaining part of link and simply add www.
About EA - as a software developer I have some excellent EAs already . Catch MD orders and set other SL isn’t a problem. The problem is:
when you will try to set less SL, count of loss will increase. Dead sure. During my hard efforts to make EA better then MD I found the same: 40-45 SL and 7-10 TP give stable positive incomes for such a trading approach.
MD problem isn’t 40-60 SL, but:
too much 1-2 pips profit trades.
dramatical risk (max 170-200 pips per session) - your 6-8 months profit.
count of trades are not sufficient.
But - my efforts always ended about the same result as MD, unfortunately
BTW, WendyL has average 6.32 pips per profit trade and it is good enough and is in 7-10 pips range.
MD doesn’t have any Artifact Intelligence inside. Dead sure. May be Neural Networks prepared some equations for calculations in product development, but that is all Therefore you can turn on your PC 1 min before trade and a result with Alpari UK Micro will be the same as WendyL under normal market conditions.
However there is some reasons for me to left PC on:
Turning on/off reduce your PC life. Windows crashes usually on startup e.t.c
Sometimes I try to trade manually during daytime;
Probably MD uses IIR-type filters: a part of infinite past price information added to last price and returns some calculated value. Values differ a very little either calc runs through all bars on startup or continues a long time.
"…please try to ensure that there are no open trades…"
Exactly. A lot of bad things would happen when your PC crashes or connection is broken during opened trades. This is why you should put always at least SL asap on every trade. After restart MD version 1.21 is able to find his orders and take a deal with them again. Tested.
BTW, VPS crashes and broke connections, too. If you have trusted internet provider and dedicated PC and UPS Power supply, your position is ahead VPS. Because your trading station is close to you. And reacts on keybord input much faster then VPS through remote connection. Tested
This would be a dilemma sometime - I took my laptop with mobile connection far away in country side on my vacation to trade with MD. Connection was very slow and often restarts, but I made some successful trades and was happy until 13.08.2009 when I try to close loosing position exactly on news release minute. My slow connection requests was refused by overloaded FXCM servers and I was able to receive quotes only after 5 minutes. Too late, of course. VPS wouldn’t help to close manually. Slow connection better receives small price quotes rather then provides huge screen changes by remote connection.
Not overloaded broker connection lines and servers and no requotes are some keys to success, too.
You set MD running with 0.3 risk, it makes a trade and then crashes. You reopen your chart and set MD running, however it starts with the default settings of 0.1 risk. It then identifies your trade and says “whoa thats too much risk for me” and closes down the trade.
Very true I put this down to the fractal qualities of the market. We have to make more profit from the current MD framework. By that I mean use the entries and exits from the droid but take more profit but without chaning the risk.
Ok it identifies the trade, gets the lot size and works out that the lot size is to large for the current risk setting and closes the trade. Just the theory.
May be. MetaTrader saves its charts with indicator and EA settings and recompiled ex4 by closing procedure. If you change settings, close MT4 after that and open once more. All your new settings will be honored in future regardless MT4 closed normaly or crashed. If MT4 was closed by normal Windows shutdown procedure all settings will be saved anyway.
I have more then 30% risk, but never see MD trade closed after MT4 or PC restart. May be after crash…
I don’t agree. If you trade an EA you’re way ahead with a VPS instead of using your home computer. I have a VPS in New York, my broker is also located in New York. I have a 1ms latency from my VPS to my broker, while I have a 91ms latency from home computer to my broker.
Nice, is it gonna be public?
Yes, this is because megadroid is not happy with 5-9 pips profit. This is what useally happens with this 1-2 pips profit trades; MD opens a buy, market goes up 1-9 pips, megadroid TP is at 10 or 15 pips so it doesn’t close at 9 pips. Market goes down again, megadroid closes the trade when the market gets up again and the trade is up 1-2 pips in profit.
I think this can be fixed with ModB from james. If trade = 8 pips profit, set SL at 4 pips profit.
Exactly. I’m not complaining about the 30-40 pips SL, it’s the 150 pips SL I’m worried about. 150 pips SL for a scalping strategy that goes for 10 pips TP is just not right.
I don’t understand.
Btw; I have looked back at the charts and I think Megadroid really is trading based on this channel method. It opens a buy at the bottom of the channel ( or visa versa ) and hopes the market will move up to the top of the channel. It sets the TP at 10-15 pips ( based on how big this channel is ).
Some times the channel is not as big as megadroid thinks it is, or the entry point is to much in the middle of the channel. In this case the TP is not reached and you got something like I described at point 1.
.
Our SL matches and previous trades entry points, too.