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

**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

**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

**hotsawce** · 2010-02-10, 01:28 PM

Well, megadroid has convinced me at JadeFX. Unfortunately, I cannot use my IRA money with JadeFX, so I'll be opening with ATC.

Pietpatat · 2010-02-15, 02:28 PM

Do you guys really think it's all down hill from here for megadroid because to many people are using it? Because people need to put loads of money into megadroid for this to happen right? All the people on forums use megadroid with relatively small amounts ( around $1000 ), and I have never seen a live statement where someone uses megadroid with over $10k. So this is nothing compared to the amount of money the banks are trading with.

So far it only happent to me twice that I didn't get a trade while other peopel did. But it happend way more that I did get a trade while other people didn't, not even people on a demo got trades that I got ( probably because of the low spread

with ATC ).

**rsmereka** · 2010-02-15, 03:09 PM

Quote:

Originally Posted by Pietpatat

I have never seen a live statement where someone uses megadroid with over $10k.

I have been trading using MegaDroid since April on a live account with a lot more than 10K. There are lots of us doing this. Check my live statement.

Rick

**pipdetector** · 2010-02-15, 03:49 PM

I agree with Rick.

Although there are thousands traders who play MD with 1000$ or so accounts, there are also quite a lot who play with bigger stakes. In my case, when all accounts that have MD placed on trigger about 2.5 lots are traded...