I got an unexpected reply from Alpari… They say it’s not only possible that the spread was indeed above 11 pips, but “completely understandable” because of the time (major markets closed).
Hmm, this is not good news…
I have knocked up this risk calculator for MD.
As you can see by changing the Stop Loss level we could go for a higher risk.
I guess we need to monitor the lows of our open trades to see how many more trades would be lost with a lower SP Level
MDRisk.zip (6.48 KB)
not good news at all.
This time round I am using megadroid forex with 3 charts: one auto, one autogmt minus 2hr, one autogmt plus 2hr;
results 10 march: 4 wins 1 loss: total 42.2pips win and 0.2pips loss
results 11 march: 2 wins 0 loss: total: total 20.2pips win, 0 losses
Using Fxcm Uk broker.
GOOD LUCK WITH ALL YOUR TRADES GUYS! =)
MD is a consistent winner, I had been winning since last year august 2009.
I’m keeping my IBFX demo open tonight, to see if it trades any more than Alpari UK.
Have you tried any of the forex robots from the world cup yet? I have two running on demos and they are kicking tail. Pips miner up 122% in 12 days with a 84% winning trade. and Nightrider forex robot is not doing as well but still up respectable 56% in 6 days with a 77% winning trade. Let me know if you have used any of these or if you know anything more about them!
My strictly personal opinion is that these robots produce great results at the time of the world cup, but they are likely to produce lots of losses for you in the long run.
Wether MegaDroid will stand the test of time is still unknown – as far as I know it’s been less than a year since its launch.
It’s pretty certain that this robot will not win the world cup ;), but if it gives constant positive results (even if just small ones), then I’ll be happy with it. 
Anyone using FXDD. Mine was trading fine, then the big big loss occurred, since then one tiny tiny trade only on 25th Feb!! No trades since!
What on earth is happening, it’s stopped trading altogether
Vin
I’ve had eight trades on the FXDD Demo since the big loss.
Wow! that’s a lot. Mine’s a live account, at this rate, I’m never going to make back the big loss.
Vin
The FXDD Demo has already made back the loss. I’ve also added the BOJ robot to trade on this account and it’s up about 6% on the loss. 
I was going to go live with FXDD but in the end I chose Alpari because Wendy was doing OK on it and it’s based in the UK.
… and they seem to have an 11 pip spread on EURUSD at times… :-/ Ehh…
Anyway, no trades tonight on Alpari UK or IBFX, and no messages from MD either in the Experts tab.
That’s a total of 2 trades this week on Alpari UK live, both winners.
Thursday night and NO TRADES for me… thats ok, Im still ahead, better to be ahead than trade and loose.
Hrm. Nothing for me last night.
While this is true, here’s my problem:
No trade for me on Thursday either. BUT: if I do a backtest for Thursday, it says it would have made a nice 4 pip profit.
So why didn’t it do it? 
hi guys,
First post. I recently bought Megadroid, more out of curiosity than anything else. Running it on Alpari UK at the mo. I guess it was my fault for not doing too much research before buying it (thinking I have 60 days to return) but I’m struggling to come to terms with the concept of it.
I’ve been running for two weeks but only properly in the last couple of days, where I’ve been running it on two timeframes with different GMT offsets (1 hour and 15 mins)
I trade a few systems but didn’t really appreciate that MegaDroid just scalps a couple of pips at a time and at a very high risk. Imagine my dismay on my first trade when the target and stoploss came up… a few blinks later and the trade had closed for single digit profits with the target price about 30 pips or so away!
Another system I trade which takes me 10 mins in the morning has just romped in with 120+ profits in each of the last two days. This kind of gave me a perspective on it.
So my point. Well technically the system I mention above gives me a potential profit of 120pips with a much smaller stop loss than Megadroid is giving me for single digit pips. The risk reward with Megadroid just seems all wrong. Risking 100 pips for 5 pips! If as a trader I entered trades on that basis I would be regarded as insane!
There seem to be plenty of people tinkering with settings and backtesting on demos etc some who have shown in ‘demo’ some good results. And also plenty more saying they have made a few hundred dollars (ok so that has paid back for the system) - but is anyone consistently making any serious money from this?
MD had consistent wins, but it is considered as a long term investment, not a one day or one month from scrap to riches kinda of EA. That’s why I trust MD in the long run. Also the best timeframe to trade on is eurusd H1 only, the rest dun give good results.
It is the settings that matters and the brokers you use, u must have low spread to benefit from MD plus u need a good broker with fast execution, not those when u click OPEN or CLOSE TRADES, it will lag 10 to 20 sec or worse 30secs, this will definitely affect your trades so an excellent broker with fast execution is important too. That’s why different user has different varying results even with the same settings due to the time execution and slippage problem. I recommend FXCM.co.UK (not US), as they has an AUTOsync system that account for slippage on another platform which will refund u the amount due to the 2 to 5 sec time lag. These are trustworthy brokers.
Anyone who trades in the forex or ETFs knows that the high frequency within a day u trade in the market the greater the risk you lose your money. This is no execption for robots(EA). MD only trades at one time frame, that is GMT +2 so there is only 1 or 2 trades default if you dun do any mods to its settings. and the only same timezone to trade for MD is between GMT 0 to +4 where the market volumes are normal.
Friday trades suffer great losses even for manual traders, so weekends are out of MD trading time, that includes last 2 weeks of the year and last 3 days of the month.
With all this parameters in place, that is why MD is not for aggressive trader. Only if you are a patient, conserative trader will enjoy MD.
This is some background info for new trader who has or has yet to buy MD.
For more information, feel free to visit my personal webpage under my profile.
Happy trading and all the best of LUCK.
Doomlord,
what is the BOJ robot?
thanks
Vin
Posting my weekly updates on my use of Megadroid.
WEEK 3: 8-14th March
START: £418.44
END: £422.96
DIFF: +£4.52
PER: +1%
OVERALL DIFF: +£32.76
OVERALL PER: +7.7%
Pretty low profits this week. But id rather this than losses!!!
Same time next week
Martin
Hi all
First post here…
I am in Australia and wondering if I can use GoMARKETSAUS broker with Megadroid?
thanks