Forex MegaDroid review - 12 brokerages

[pipsbuster]

The month of December started with a big 15-pip win: http://www.myfxbook.com/members/myfx...4XMRVhAgr7ddlu

[hotsawce]

Originally Posted by pipsbuster

The month of December started with a big 15-pip win: http://www.myfxbook.com/members/myfx...4XMRVhAgr7ddlu

If you don't mind me asking, what's your typical floating P/L ? The 40% gain is impressive, but it's not really 40% if you've got a significant amount of unclosed positions in the red.

[pipdetector]

hotsawce: MD is short term trade EA so I do not think that pipbuster has any unclosed positions.

BTW, my MD is in the aggresive recovery mode now

[Ken Long]

Originally Posted by hotsawce

If you don't mind me asking, what's your typical floating P/L ? The 40% gain is impressive, but it's not really 40% if you've got a significant amount of unclosed positions in the red.

MegaDroid is a short term scalper and doesnt hold open losses for any extended length of time. MegaDroid, by default, only trades in a two hour window between the NY close and the Asian open. The most open orders it has at any one time is two, if it is set on aggressive mode, otherwise its one.

I have been running this live, FXDD, for almost 1 year now and it has only taken a very few losses, no major standing drawdowns, and only a few drawnout trades. On 12/3/09 it got stuck in two trades simultaneously, one conservative 10 pip target, and one aggressive 15 pip target. The aggressive trade stoped out with a 49 pip loss and almost 9 hrs, the conservative trade didnt stop out and closed with a 1 pip gain and 10 hrs. These are the longest open trades I've seen with MegaDroid, almost all trades close within two hours, usually a lot less, most problem trades close one way or the other as soon as the European session gets going.

Going back through the past years trade history, an embarrassing exercise, I only find two other very small losses 1 and 2 pips, and a few very small wins, which is typical of how it handles bad trades. all of these closed within a few hours. I am probably missing a few trades here since I change the magic number regularly and run other EA's on this account, but thats typical for MegaDroid. There is also several years worth of data on the Megadroid web site, it shows both losses and wins, and is fairly accurate to Megadroids trading. I dont show as many trades on my live account or as large a profit, but thats expected.

[maddox01a]

Hi folks, I just got MegaDroid today and wanted some tips on getting started from the forum.

I plan to start a demo account with Gain Capital and will try others as I get my feet wet with the EA's setup dynamics.

I'll also be posting my experiences/thoughts with it.

Thanks much

[hotsawce]

Originally Posted by Ken Long

MegaDroid is a short term scalper and doesnt hold open losses for any extended length of time. MegaDroid, by default, only trades in a two hour window between the NY close and the Asian open. The most open orders it has at any one time is two, if it is set on aggressive mode, otherwise its one.

I have been running this live, FXDD, for almost 1 year now and it has only taken a very few losses, no major standing drawdowns, and only a few drawnout trades. On 12/3/09 it got stuck in two trades simultaneously, one conservative 10 pip target, and one aggressive 15 pip target. The aggressive trade stoped out with a 49 pip loss and almost 9 hrs, the conservative trade didnt stop out and closed with a 1 pip gain and 10 hrs. These are the longest open trades I've seen with MegaDroid, almost all trades close within two hours, usually a lot less, most problem trades close one way or the other as soon as the European session gets going.

Going back through the past years trade history, an embarrassing exercise, I only find two other very small losses 1 and 2 pips, and a few very small wins, which is typical of how it handles bad trades. all of these closed within a few hours. I am probably missing a few trades here since I change the magic number regularly and run other EA's on this account, but thats typical for MegaDroid. There is also several years worth of data on the Megadroid web site, it shows both losses and wins, and is fairly accurate to Megadroids trading. I dont show as many trades on my live account or as large a profit, but thats expected.

Thank you for the info.

By the way, have you heard of Advanced Droid Tactics? It's supposedly very legit tweaks to megadroid that enable it to trade more and trade more profitably. I think if you google it you'll see some info on it; just curious if anyone tried it.

[latiff]

I have been using MD several months and was scalping me small profits but when it loses it loses big, dec 3rd., it made two trades, losses of -$98 and -$28. Anyone else had the losses too? The end result is all the small gains are wiped out with big losses.
What is the best settings for the MD to avoid the big losses.
Thanks

[rsmereka]

Originally Posted by latiff

I have been using MD several months and was scalping me small profits but when it loses it loses big, dec 3rd., it made two trades, losses of -$98 and -$28. Anyone else had the losses too? The end result is all the small gains are wiped out with big losses.
What is the best settings for the MD to avoid the big losses.
Thanks

Hi latiff and Welcome,

Many people, myself included suffered large losses with MegaDroid last week. It's the nature of the beast. There are no settings that improve it's accuracy above about 93-96%.

MegaDroid scalps a small number of pips. When it looses, it looses big. In the long run, however, it maintains it's accuracy rate . I used to (I stopped using MegaDroid last week after the loss), drastically reduce the risk to prevent large losses but that also means that you get really tiny wins.

See post #305 of my trading journal for a breakdown of MegaDroid stats on my live account from April 7 to Dec 3.

In the long run, it is profitable. It is just very scary, especially with the threat of multiple losses. Most people run MegaDroid way over-leveraged to increase the profit from the small number of pips on a win.

I hope this makes MegaDroid's behavior clearer to you,
Rick

[pipdetector]

I had large losses on trades initiated on Dec 2, but they were recovered in half on Dec 3. MD went in an aggressive recovery mode and it doubled the trade size.

[latiff]

Hi Rick:
I am a newbie, last 6-7 months I have read a lot and I have the basic knowledge that is that. I started with a $750 live account and now my account is down to $300.56 . Hope the droid will be successful in the long haul.
Thank you for the quick reply