Well ive had MD for about 3 months now, had it running in a demo account for a month with fairly good results, then went live with it. Ever since it went live, it seems to be making some bad trades, it enters a trade and the trend completely changes, so far thanks to MD im down $267. Trading manually i have been able to bounce back, but sometimes EA’s are not so Expert in trading. Ive learned that its best to sit there and learn to trade. EA’s are only good for a while, nothing that makes that much money would be sold so easily.
Thats just my 2 cents.
What broker are you using?
How has your demo account performed over the same period, since you went live?
I am using Forex.com
And with the demo account it made about 2 or 3 trades, all winners. But once i switched to my live account it seems to have been working against me. In my demo account i had started with $10,000 and by manually trading, i was able to make my ending balance $17,000.
Megadroid is a good long-term bot in my opinion. You will not get rich quick, but if you patiently let it run for a half-decade or so, it will eventually trade its way up there. This assumes that over the next few years that the asian session it trades in will remain rangebound and not start trending!
In any case, this month Megadroid had a bad month. If you had it in recovery mode, it would have taken two losses in a row and wiped out a lot of profit. These losses DO happen, even in backtests, so should come as no surprise when they do.
Also remember that demo accounts have different spreads than live accounts… and Megadroid is technically a scalper and is affected by spreads to the point where it will miss trades if it thinks the spread is too high – even if the spread is under it’s max spread limit.
As a new trader myself, I find this kind of stuff highly discouraging. Everything I’ve read in my journey to learn forex trading tells me to bust my back on a demo account to learn how to trade, THEN go live…but the problem is, how can I learn anything if the demo accounts differ so highly from live accounts?
Am I not just setting myself up to fail?
I’ve had great experience back testing and forward testing megadroid, but I have to say that stuff like this makes me reconsider going live with forex, manual or EA.
hi Naynay, you mention the following:
Megadroid is a good long-term bot in my opinion. You will not get rich quick, but if you patiently let it run for a half-decade or so, it will eventually trade its way up there. This assumes that over the next few years that the asian session it trades in will remain rangebound and not start trending!
I though that MegaDroid suppose to perform in any market condition a.k.a Multi-market conditions?
The only bot that i have found that works pretty consistently is Poisson Bot. Makes good trades that always profit. Megadroid does make decent trades, but it will not trade in ALL MARKET CONDITIONS. I am running 4 bots right now on my live account, Humanoid, Megadroid, Poisson Bot, and Robominer. Of the four i can say that Robominer and Poisson Bot are up there, Humanoid trades once or twice a month.
I am no expert on these bots, i am just a simple user trying to check this stuff out. So far Megadroid has killed my account, which i have finally been able to almost break even again, although today, the market was rather odd and i ended up losing most of my gains from the past week.
I would strongly recommend Poisson Bot and Robominer.
Thats just my 2 cents.
MrPopular
I agree that Robominer is probably the only EA by that traders swear by (rather than swear at!)
Megadroid does lose… because while you can expect that the currency pair will stick within a specified range during the asian session, that doesn’t happen ALL the time. Occasionally it does break out, and to make it worse, does not come back… but those are typically rare occasions. For the most part you will profit more than when you hit stoploss. That’s how scalpers work… by having more wins than one or two losses would wipe from you.
For example, the GBPUSD broke out of it’s Asian session range on the back of good GBP reports. It wasn’t supposed to happen, but it did. It eventually came back to where it was before however, so no loss scalping there – but it easily could have.
Setting Aggressive to false in Megadroid reduces the losses in backtesting. It doesn’t trade as often, but it doesn’t have as many losses.
Robominer does well long term if you can stand the occasional drawdown. Since it never sets a stoploss, sometimes it will leave a trade stranded, in theory to get back to that price … someday …
Humanoid is a disaster waiting to happen IMHO.
From what I’ve been able to tell is it prevents the double down aspect of trading.
Actually, turning off recovery mode gets rid of the double down function.
If you backtest megadroid with and without recovery mode, you’ll likely find that it does much better without it. At least that’s been my experience.
How is Megadroid doing lately? I used to use it, but kind of lost confidence in it. Once it hit a stop loss and basically wiped out 8 to 10 trades profit - meaning 1 month trades 
Robominor is the best. Yes as someone said some trades are left open for long long time but thats how grid trading works. Provided that the pairs trade within their historical ranges you should be ok
where I can find this Poisson Bot?
Yesterday, megadroid pulled down a 10% return on my demo account. I’m quite happy with it thus far. It does have an occasional loss, but the accuracy of the program is a thing of beauty most of the time, and does a good job of recouping it’s losses. If I had an ECN broker with a lower spread (sick of alpari spiking it to 60 pips), I’d do alot better.
Megadroid took a win yesterday for me as well