Forex MegaDroid review - 12 brokerages

[hotsawce]

Originally Posted by trendcat

sorry i didnt mean to sound rude,.
but i have a friend who lost alot of money trading an EA
he listened to people and got burned.

it tickes me off that some people say it does work and others say it doesnt
the euro moves the same except for the spread
the setting cant be that hard to learn.

as far as im concerned it should be working for everyone with every person making money
or it could be a scam to me.
we all know there are too many scams out there not to be really sure before you spend your money.

regards

Get lost, troll. You're not contributing anything to the forum and your mindless bashing is stunting any valuable research of EAs.

[PipCop]

Originally Posted by hotsawce

Get lost, troll. You're not contributing anything to the forum and your mindless bashing is stunting any valuable research of EAs.

If you have a problem with a member on the site, please follow the rules and report their post. If you don't like what they are saying ignore them. If you can't, then you can add them to your ignore list in your User CP and their posts won't show up.

-----------------

I personally think that reviews can be gamed. I don't trust anything that I have not put on a demo account and run for a long time. I don't trust any review where people can just say it's good without providing proof. So to that end, I don't trust any new robot site that doesn't have a 1 year live statement.

I don't think anyone else should either.

[Pietpatat]

Originally Posted by hotsawce

Just an observation:

I've been watching Megadroid trade in my demo account. However, I've noticed it does some puzzling things. It opened up a trade that ended up "potentially" netting me a 40 dollar profit. It's pretty much gone from that to a negative return back up to a 40 dollar profit about 3 or 4 times now, and it has not closed in the green. Now it's sitting at -11 profit...

Anyone know why it does this? It did it with my last trade and ended up netting me only a fraction of the potential profit.

Also, much to my dismay, JadeFX and IAMfx will not work with a custodian holding IRA funds. Consequently, I'll be opening my live account with ATC.

Yes I noticed this too. Sometimes a trade gets in profit ( but doesn't hit TP ), then the marktet drops and the trade get negative for a while. When the price gets around the open price MD closes the trade with 1 pip profit.

Some other 'buggy' things I noticed while testing MD;
SL differ very much. Sometimes SL is 40 pips and the next trade it can be 120 pips.

This week MD had 2 orders open at the same time, a long and a short . Pretty weird but they both closed in profit.

Ofcourse these are just small things and I shouldn't complain because I'm up 10% this month; http://www.myfxbook.com/members/Pietpatat/atc/8695

[hotsawce]

I agree, but I think if it was tweaked to take more frequent profits with an adjusted TP it might make more trades and make more profit. Anyone think it's possible for developers to tweak this in some way?

Also, I wonder if changing some of the parameters in megadroid would lower the TP . For example, if I changed the default settings from aggressive to conservative or lowered the risk a little bit, I wonder if it would be quicker to take profit?

Would anyone be interested in running two parallel demo accounts on the same computer, one with all default and a risk of 15%, one running like that but with aggressive turned off, and one running at 10% with aggressive turned off? It would be interesting to see if a slightly more conservative setting allows the bot to make the same trades, but take the profit sooner, possibly making it more profitable because of the conservative settings...catch my drift?

Oh, and this is a little off topic, but I wanted to mention I received an email from the maker of Euro-Blaster stating he made something of a "Megadroid competitor." It's called USDBot and operates 24/5 looking for a trade. I think it's worth looking into, particularly considering Rsmereka has had success with euro-blaster.

Originally Posted by Pietpatat

Yes I noticed this too. Sometimes a trade gets in profit ( but doesn't hit TP ), then the marktet drops and the trade get negative for a while. When the price gets around the open price MD closes the trade with 1 pip profit.

Some other 'buggy' things I noticed while testing MD;
SL differ very much. Sometimes SL is 40 pips and the next trade it can be 120 pips.

This week MD had 2 orders open at the same time, a long and a short . Pretty weird but they both closed in profit.

Ofcourse these are just small things and I shouldn't complain because I'm up 10% this month; http://www.myfxbook.com/members/Pietpatat/atc/8695

[Ken Long]

Originally Posted by trendcat

sorry i didnt mean to sound rude,.
but i have a friend who lost alot of money trading an EA
he listened to people and got burned.

it tickes me off that some people say it does work and others say it doesnt
the euro moves the same except for the spread
the setting cant be that hard to learn.

as far as im concerned it should be working for everyone with every person making money
or it could be a scam to me.
we all know there are too many scams out there not to be really sure before you spend your money.

regards

trendcat,
you can buy and test this for 60 days with no risk at all. The only risks would be if you placed it on a live account before you were sure of it, and even then you can simply use micro lots.

The statements posted on MegaDroids web site have been fairly acurate. There are slight differences in its trading from one account to anouther. It seems to individualize itself to an account so you dont always get identical trades. Even multiple instances on the same account have traded slightly differently. I dont understand the programing, but I suspect this is anouther way it maintains its anonymity, and maintains its edge in spite of many users.

There are no special settings to get the results. It is a very simple EA in that respect. All you have to do is set your risk, or position size, and the rest can be left on default.

Even then dont expect the same results as they post. Their risk setting is too large for most people.

Most of the people on the forums who criticize it do so without testing it first, or simply want it to do more. It does have a habit of not trading sometimes, and it can be quite annoying when it does, especially if its trading for other people.

Overall, I've been very impressed with this EA. It trades better than I do.

[hotsawce]

Originally Posted by Ken Long

trendcat,
you can buy and test this for 60 days with no risk at all. The only risks would be if you placed it on a live account before you were sure of it, and even then you can simply use micro lots.

The statements posted on MegaDroids web site have been fairly acurate. There are slight differences in its trading from one account to anouther. It seems to individualize itself to an account so you dont always get identical trades. Even multiple instances on the same account have traded slightly differently. I dont understand the programing, but I suspect this is anouther way it maintains its anonymity, and maintains its edge in spite of many users.

There are no special settings to get the results. It is a very simple EA in that respect. All you have to do is set your risk, or position size, and the rest can be left on default.

Even then dont expect the same results as they post. Their risk setting is too large for most people.

Most of the people on the forums who criticize it do so without testing it first, or simply want it to do more. It does have a habit of not trading sometimes, and it can be quite annoying when it does, especially if its trading for other people.

Overall, I've been very impressed with this EA. It trades better than I do.

I noticed Megadroid trades more on a broker with smaller spreads. I have it on JadeFX for demo right now and it trades, pretty much, every day.

[Pietpatat]

Originally Posted by hotsawce

I agree, but I think if it was tweaked to take more frequent profits with an adjusted TP it might make more trades and make more profit. Anyone think it's possible for developers to tweak this in some way?

Also, I wonder if changing some of the parameters in megadroid would lower the TP . For example, if I changed the default settings from aggressive to conservative or lowered the risk a little bit, I wonder if it would be quicker to take profit?

Would anyone be interested in running two parallel demo accounts on the same computer, one with all default and a risk of 15%, one running like that but with aggressive turned off, and one running at 10% with aggressive turned off? It would be interesting to see if a slightly more conservative setting allows the bot to make the same trades, but take the profit sooner, possibly making it more profitable because of the conservative settings...catch my drift?

Oh, and this is a little off topic, but I wanted to mention I received an email from the maker of Euro-Blaster stating he made something of a "Megadroid competitor." It's called USDBot and operates 24/5 looking for a trade. I think it's worth looking into, particularly considering Rsmereka has had success with euro-blaster.

I don't know if changing the TP will make it more profitable. The makers must have a reason to set the TP at the current level. If you gonna change the TP without knowing how this system works I don't think it will be more profitable.
Agressive means it can trade 2 strategies at the same time. And risk means how much it can lose per trade, so I guess that only changes the lot size.

Thanks for the tip on USDBot. So far it looks like another hyped up EA, that will not work and be forgatten next month. But because it has a refund period I will probably demo it for 60 days, and then decide to go live with it or refund it.

[Ken Long]

Originally Posted by hotsawce

I noticed Megadroid trades more on a broker with smaller spreads. I have it on JadeFX for demo right now and it trades, pretty much, every day.

This is definately a concern with any scalping strategy. What is the spread for EURUSD on JadeFX? FXDD has a constant 2 pip spread , which seems fine for this type of scalping, but I often have periods where it doesnt trade. I also have it on a demo account at GalantFX with a 1.7 pip spread and it trades pretty much the same.

.............

The TP levels are not adjustable. Changing to the conservative setting will only eliminate the second more aggressive trade. The only way to get it to trade more is to install it on multiple charts with different GMT settings. Each instance will trade on its own within its 2 hour trading window.

This can increase the number of trades. The only problem is MegaDroid is designed to operate in a flat market and has no directional bias. Its just as likely to go long or short regardless of the trend . Also running multiple instances of any EA's will increase the risk substantialy.

.............

This EA is perfect for trading the evening hours (for me) after the NY close, alongside FAP-T. What I want to find is a robot that can swing trade the European session (overnight for me) reliably. Being awake and alert at the start of the European and US sessions is critical for catching those big intraday moves. And I'm teribble at that.

[trendcat]

ken thanks for the help
good luck in your trading


pipetat save your money,USDBOT is one of jason fielders new weekly systems he is spamming now
he puts the systems together in a few days ,puts the one page websites up and sends 50 million spam emails out to sucker a fewe % of newbies to buy it.
i have my 2 pages of inbox emails from mr fielders different systems.
regards

[Ken Long]

Originally Posted by trendcat

ken thanks for the help
good luck in your trading


pipetat save your money,USDBOT is one of jason fielders new weekly systems he is spamming now
he puts the systems together in a few days ,puts the one page websites up and sends 50 million spam emails out to sucker a fewe % of newbies to buy it.
i have my 2 pages of inbox emails from mr fielders different systems.
regards

Thats what a blocked sender list and junk e-mail box is for.. I dont think USDBOT is from Jason Fielder, it has a different name on its web page. I think he's just anouther affiliate seller. I've recieved dozens of these this week.