Forex MegaDroid review - 12 brokerages

[beatsme]

pipdetector

isnt possible to choose a lower SL ?? because you always go for 10 pips profit... why the bot allow a 44 pips loss?

the risk/reward is very bad

[beatsme]

isnt possible to set a lower stop loss?

the ibfx and alpari uk account was destroied :/

[pipdetector]

I do not know about the stops, but you can always lower your risk level. If you set it to 0,5 and two trades were initiated at both brokers, then in case of loss the whole account can go. If one uses 0,1 (or lower) risk level it would take at least several losses to erase an account. So as always money/risk management is the key...

[beatsme]

hi again

its kinda offtopic but where i see the delay at mt4? or theres a way to ping the server?

how much bandwith do you suggest to save trade?

and guys... robominer, gt-shadow, megadroid, xtreme, evolutionx, looks like doing great...which one do you suggest to start using? im thinking about purchasing megadroid...

thanks

[Blackhand]

Ah now i know y.... " IF" Artificial Inteligent(Neural Network??) really applied in this MegaD, then is adapt to Forexmeta. Every platform differnt data, so diffrnt result.
One of my fren working on some A.I EA and generating 200%+ monthlyfor over 6 months (!!!!!), as he told, his EA is only adapt to his own broker (IBFX) , and NN is trained on IBFX only, so... other platform might not suit....
SO my 2 cents is, if we wanna get same official result, is using Forexmeta.
I might be wrong for some of u, dont screw me

[pipdetector]

Well, AI in case of MD is a bit of overstatement it is as true as the claim that it "can trade any time of the day"

[mitaji]

It all boils down to this. When this robot came out I think I was one of the first to purchase it. It didnt work then, its not working now. I quickly got my refund because I realized that the authors were full of it. The main reason I requested that refund was that their results are not real trades. I'm not talking about demo or real accounts, I'm talking about actual trades. Have a look at their statements and you'll see what i'm talking about.
Here is an excerpt from one of their emails I got recently (yes I still get their mail):

'No Losing Trade Since 20th March 2009!
August 13th, 2009 update: 1,014.57% NET Profit in the last 136 days!
1,354.90% NET Profit for 2009 (224 days)
AFTER 21 YEARS:WE FINALLY SETTLED THE SCORE'

I mean, are you guys still buying this crap! We just saw the losing trades! Hopefully, this is the last time I talk about this because it is beyond me,how people who don't even have the guts to trade a demo account & give us an mt4stats link, can claim they made over 1000% with no losing trades in 5 months and make you believe it.

Now I'm not one of those guys who complain about stuff without giving some kind of solution. This is my I advise to you.

1. Stop trading these Robots. Apart from Robominer I really havent seen any robot worth its salt. And robominer is really cool because you know exactly how it works.To me, its not really a robot.
2. Start swing trading long term charts. If you want big winners (100s of pips & above) look for systems that have setups on 4h charts and above. You will trade less and make more money.Less trades = less emotion. I'm currently doing it and its much easier than watching your robot wipe out all your gains in one trade.
3. Start believing in yourself. If you still think you can make 1000% profit with something you bought for 97 bucks, then you shouldnt be a trader. You can trade by yourself and make more but only if you are willing to put in more effort.

[Blackhand]

I think u r rite too. Fully Waiting 4 this MD to earn profit is moron. Either u make some manual trade or addon other EAs to grow ur account. MD just one of my robots, I like to diversify winning rates of account.

[Hyperdimension]

PipCop, it's funny to see that the big losing trades came in only after you increased the Risk Level to 0.35, which is quite high.

A similar thing happened to me in the past through a manged account ... it was going really well for months with hardly any drawdown , and I deposited more money a few times. One day the trader decided to double the position sizes and soon ended up with a margin call , and I lost 5 big figures of real US dollars. I wasn't happy about that.

It's so easy to become over-confident after months of wins. But you can never predict when the next losing trade will be... it can always be the next trade.

It reminds me of a quote that I had read somewhere: "The maximum drawdown (of a trading system) is always in the future"

[pipdetector]

I guess that Pipcop increased RL without too much "fear" of risking the demodollars .

IMO, we should have stayed with the original "conservative settings" as the test results will be now skewed to the negative side (assuming that the account will survive the bad streak at all).