Forex MegaDroid review - 12 brokerages

[Hawk Trader]

hey guys,

The Megadroid took a big hit today at the www.forex-robots.com real money accounts competition, same on my demo accounts. Anyone experienced different on their accounts? if yes on which broker ?

rgds

The Hawk

[dormdweller]

Megadroid took a big hit for me as well today too. Thankfully it made a second trade just after the first loss which helped to recover 1/3 of the loss. Bad timing for me I guess since I just started using Megadroid last week, but that's how it goes. Going from memory I think the loss was 3.3% of account equity. Ended up down 1.7% overall between the two trades. This was using IamFx.

[eafinder]

dormdweller, that's not too bad with less than 2% DD. What risk level setting are you using?

The Fed increased discount window by 25 basis point at 4 AM EST. Really bad timing, as Megadroid is working in this period. It caused an unusual volatility and trending market during otherwise a quiet and calm period.

[eafinder]

dormdweller, that's not too bad with less than 2% DD. What risk level setting are you using? The Fed increased the discount window by 25 basis point at 4 AM EST, creating an unusually strong trending volatility . Such a bad timing since Megadroid works during this otherwise a calm period.

[pipdetector]

Yes, this was one of the days that one must remember when setting risk level.

Unfortunately, Feds decided to announce the change of discount rate in the nontrading hours. MD did not stand a chance...

[ApacheDan]

Same here...got hit for real $$

I've read elsewhere that some people using Megadroid saw this coming, liquidated their positions and turn MT4 off...until the storm was over.

There should be a better "weather forecast" method to deal with these situations, specially with automated robots. I got a good forex news indicator ....wonder if this is the way to go..attach it to the charts and be on the look out....

any other ideas?

Dan

[pipdetector]

It hurt, but I think that the fact that some "people saw it coming" is just a fluke. I mean some people always see something coming, so when somthing really comes there some people who saw it coming

Let MD clean the mess in the next weeks. This is just the nature of trading that you lose from time to time.

[rsmereka]

Originally Posted by pipdetector

It hurt, but I think that the fact that some "people saw it coming" is just a fluke. I mean some people always see something coming, so when somthing really comes there some people who saw it coming

Let MD clean the mess in the next weeks. This is just the nature of trading that you lose from time to time.

Agreed,

I also took a medium hit ($300) on the first trade and had a second that lessened the blow by about $61. MD stats on my live account are still good. 75 trades since April 2009 (68 winners for 90.13%). Up about $1,200 including this loss. I am running MD at 0.10 risk which is high for me. Most of the time, risk was at 0.05 or lower.

Rick

[eafinder]

Hi guys,

I just check the demo test from Forex Peace Army from July to Feb (7 months) only result in less than 10% ROI. If I take out the hit yesterday, it only returned 12%.

It's profitable but by no means groundbreaking at all. It doesn't sound as great as what people seem to say here. Manual trading could do better than that in 7 months if you know what you are doing and not overleveraged.

[Pietpatat]

Originally Posted by ApacheDan

Same here...got hit for real $$

I've read elsewhere that some people using Megadroid saw this coming, liquidated their positions and turn MT4 off...until the storm was over.

There should be a better "weather forecast" method to deal with these situations, specially with automated robots. I got a good forex news indicator ....wonder if this is the way to go..attach it to the charts and be on the look out....

any other ideas?

Dan

Did your forex news indicator see this fed report coming? And do you have a link to those people who saw this coming?