Forex MegaDroid review - 12 brokerages

[PipCop]

Originally Posted by pipsbuster

Pipcop tests it with non-ECN brokers. With ECN brokers like ATC, MegaDroid shows even better results. Nonetheless, I do not insist. The choice is yours.

Actually PFGBest is an ECN broker , and MD is under review with them, and they are 4th for results - not even half the balance of FXDD.

So, as always, whatever you decide to do, put a robot on a demo account on your preferred broker and test the results for yourself.

[TiKin]

Hello Traders,

Any of you running live Megadroid with some real money and full size lots? Please give feed back as to results and brokers used.

Frankly, demo accounts are not as close to reality as they appear.

Good day to all

[hotsawce]

Originally Posted by PipCop

Actually PFGBest is an ECN broker , and MD is under review with them, and they are 4th for results - not even half the balance of FXDD.

So, as always, whatever you decide to do, put a robot on a demo account on your preferred broker and test the results for yourself.

Is ForexMeta ECN? Would you recommend it since FXDD is in the process of going NFA?

[rsmereka]

Originally Posted by TiKin

Hello Traders,

Any of you running live Megadroid with some real money and full size lots? Please give feed back as to results and brokers used.

Frankly, demo accounts are not as close to reality as they appear.

Good day to all

I have been running MegaDroid for months on my Alpari UK classic (full size lots) account. I have no issues whatsoever with the exception of a minor issue making contributions and sending to the UK. I have not tried withdrawals yet but I don't think this will be a problem.

I am very happy with the results on Alpari UK. MegaDroid runs very smoothly and the losses are very minimal. I am currently running at risk 5 (0.05) but I just changed that a couple of days ago and no trades have taken place yet. I was at risk 20 (0.20) for a couple of months.

My issues are with MegaDroid and not my broker . It's infrequent trading combined with it being a low-pip earner (scalper) means that most people have a tendency to run it hot which is where you really get burnt.

As a fellow Canuk, you should have no problem getting an Alpari UK account.

Rick

[TiKin]

Thanks Rick,

Good to see you like Megadroid, I do have an account with the soviet comrades at Alpari UK and I can assure you that you will not have any problems withdrawing your money, which I have done many times.

Many seem to say GT shadow is the EA ? have you tried it ?

Au plaisir

Francois

[rsmereka]

Originally Posted by TiKin

Thanks Rick,

Good to see you like Megadroid, I do have an account with the soviet comrades at Alpari UK and I can assure you that you will not have any problems withdrawing your money, which I have done many times.

Many seem to say GT shadow is the EA ? have you tried it ?

Au plaisir

Francois

Hi Francois,

I have not tried GT-Shadow. I am, however, running it's sibling Robominer on my live account. Just started last Sunday so I don't have a lot of experience with it. I have demoed Robominer for many months. Both GT and Robo are very stable EA's which make small but consistent (given the nature of our trading ) profits when they are set up correctly. A lot of other EA's outperform GT and Robo but they don't outperform them for long. Most end up crashing and burning. I have yet to see an EA, other than GT (with Robo settings) and Robo that can perform consistenly in terms of years.

All EA's and trading systems have a dark side and GT/Robo's is the DD which can pile up if the currency is moving against the EA. It depends on your tolerance to DD. The DD with GT/Robo seldom rises higher than 30% (unless an improper lot size is specified).

MegaDroid's dark side is the infrequency of its trading, the fact that it's a scalper which does not net a lot of pips and the bizarre risk/reward ratio which causes people to run the EA at dramatically over-leveraged positions. Basically, its a better FAPT (IMHO) without the exotic currency pairs.

Rick

[pipdetector]

Originally Posted by rsmereka

(...)

MegaDroid's dark side is the infrequency of its trading, the fact that it's a scalper which does not net a lot of pips and the bizarre risk/reward ratio which causes people to run the EA at dramatically over-leveraged positions. Basically, its a better FAPT (IMHO) without the exotic currency pairs.

The fact that MD is running on EURUSD may be its strength -- it uses the night hour price (in)action, but it is definitely more liquid than the exotic pairs, so even a relativly large herd of MD users should not affect the price to make the ea as ineffective as FAPT (recently).

[pipdetector]

Not the best night for MD. It opened 2 trades yesterday. One is already closed with 44 pips loss and the other is still hanging in the negative territory with slim chances of recovery...

[pipdetector]

The other trade is no longer hanging. It "scored" 65 pips loss.

Lesson/conclusions:

I am glad that I moved MD to my small account so I lost just 200 USD. I am not so glad that I have increased the risk level to 0,1.

I will stay with this risk level to see how MD recovers from the loss.

[rsmereka]

Originally Posted by pipdetector

The fact that MD is running on EURUSD may be its strength -- it uses the night hour price (in)action, but it is definitely more liquid than the exotic pairs, so even a relativly large herd of MD users should not affect the price to make the ea as ineffective as FAPT (recently).

It is one of several strengths that MegaDroid has. These are also the advantages that MegaDroid has over FAPT.

The dark side of (the force) MegaDroid struck last night. These are the trades that I have been blabbing about. The ones that cost us so much. My live account is only at risk 5 but one of the two trades last night grabbed $200.00, the other was a $7.00 winner.

I have the funny feeling that MegaDroid's accuracy is less than the claimed 98%. As soon as I can, I am going to run an analysis on this EA on my live account since I started using it.

Rick