Forex MegaDroid review - 12 brokerages - Page 39 - Pip Cop

hotsawce · 2010-02-01, 09:32 PM

Pietpatat: Did you have megadroid on today? (February 1st?) Megadroid picked up two massive trades today for me, and curious to know why you didn't hit them.

**pipdetector** · 2010-02-02, 03:33 AM

Hi hotsawce,

I was watching closely MD yesterday and it seems that on my FXDD and ITFX accounts MD tried to initiate long positions, but in both cases there was a requote and the trades were rejected :-( My guess is that barring any broker

conspiracy theories the market was so lacking of liquidity

that it could not accomodate all MD orders. I do not like this, because it reminds me the times when FAPT was at its top. There were so many FAPT users initiating the trades at more or less the same time that it almost lost its edge. I thought that this should not happen with MD because it is trading the most liquid currency pair

.

**rsmereka** · 2010-02-02, 09:08 AM

I have not heard a peep from MegaDroid since I started it Sunday night (31st). The experts log shows nothing.

Quote:

I thought that this should not happen with MD because it is trading the most liquid currency pair

.

True, but remember that FAPT and MegaDroid trade at the most illiquid time. Remember that trading is a zero-sum game. For every winner, there is a loser. For every buy order, there must be someone that wants to sell. If not, there is no trade.

Rick

**pipdetector** · 2010-02-02, 09:26 AM

So I am afraid that MD's days countdown has started -- the more popular the EA the worse the results will be...

**rsmereka** · 2010-02-02, 10:36 AM

Quote:

Originally Posted by pipdetector

So I am afraid that MD's days countdown has started -- the more popular the EA the worse the results will be...

That is one of the prime reasons why I dropped MegaDroid. True, I had to bring it back after the EB-Turbo crash but as soon as I get a viable replacement, MegaDroid is once again a goner.

Rick

hotsawce · 2010-02-02, 01:23 PM

I'm not so sure I would say Megadroid is a lost cause.

Are you sure it's not your broker

, or the spread

on your pair? JadeFX is STP

and it actually ended up initiating two orders.

I know some people have difficulty getting Megadroid to trade, but I honestly think their spread

is too high. Brokers like JadeFX and ATC almost always have the spread

under 1 pip.

**pipdetector** · 2010-02-02, 02:46 PM

Quote:

Originally Posted by hotsawce

I'm not so sure I would say Megadroid is a lost cause.

Are you sure it's not your broker

, or the spread

on your pair? JadeFX is STP

and it actually ended up initiating two orders.

I know some people have difficulty getting Megadroid to trade, but I honestly think their spread

is too high. Brokers like JadeFX and ATC almost always have the spread

under 1 pip.

Spreads is a bit different aspect of the problem. IMO, spreads are used as a means of making it impossible to initiate a trade by Dealing Desk brokers or other market makers who essentially take the other side of the wager -- if we win -- they lose... They protect themselves from being "scalped".

Now, very thin market is a bit different issue. If there are many MD users who at the same time start opening the same trades then the market starts to move, so not all of them are filled -- this is what I think happened in my case. Speed of execution is the key here not spreads. JadeFX and ATC are again the winners because the orders are executed directly... When everybody realises this, they will move their MD accounts to ECN, STP

etc. accounts and then your edge will be gone. The question is how long it will take...

**rsmereka** · 2010-02-02, 03:32 PM

Quote:

Originally Posted by hotsawce

I'm not so sure I would say Megadroid is a lost cause.

Are you sure it's not your broker

, or the spread

on your pair? JadeFX is STP

and it actually ended up initiating two orders.

I know some people have difficulty getting Megadroid to trade, but I honestly think their spread

is too high. Brokers like JadeFX and ATC almost always have the spread

under 1 pip.

If you are directing your comments to me (I can't tell), I am sure it is my broker

. I did not say that MegaDroid is a lost cause. I would not be trading with it if I thought it was a lost cause. Let's face it, MegaDroid is fussy like FAPT before it. MegaDroid requires a specific type of broker

and spread

. Like FAPT, I don't change brokers for EA's. I did'nt change brokers for FAPT and I will not consider changing brokers for MegaDroid. There are tons of EA's in the drink to choose from.

Rick

Hawk Trader · 2010-02-06, 12:18 PM

Quote:

Originally Posted by rsmereka

I have not heard a peep from MegaDroid since I started it Sunday night (31st). The experts log shows nothing.

True, but remember that FAPT and MegaDroid trade at the most illiquid time. Remember that trading is a zero-sum game. For every winner, there is a loser. For every buy order, there must be someone that wants to sell. If not, there is no trade.

Rick

Weird, I just checked the Real Money account that the Megadroid is handling at www.forex-robots.com and it make two trades on Feb 2 and two more on the upcoming days, this was amde on Alpari UK, which broker

are you using Rick??

**rsmereka** · 2010-02-06, 12:28 PM

Quote:

Originally Posted by Hawk Trader

Weird, I just checked the Real Money account that the Megadroid is handling at www.forex-robots.com and it make two trades on Feb 2 and two more on the upcoming days, this was amde on Alpari UK, which broker

are you using Rick??

My broker

is also Alpari UK. This past week, I had two trades on Feb 2nd, and one on Feb 3rd and one on Feb 4th. The week was very active for MegaDroid which is unusual.

Rick