Forex MegaDroid review - 12 brokerages

[eafinder]

I look at the demo test by Forex Peace army which shows a less than 10% return from July 2009 to Feb 2010 (7 months). Manual trading could do better than that if you know what you're doing. Even removing last Thursday's loss brings only 12% return. It just doesn't seem to be as good as advertised or as people seem to believe here.

[hotsawce]

That's unfortunate.

No surprise it came, primarily, from undue government intervention in the market place at a terrible time.

Pietpatat, what's the accuracy in your account so far, including the recent loss.

[pipdetector]

This night MD has opened three trades on one of my accounts. Two have already been closed and the last is still open. I haven't thought that it can be so busy one nignt

[Pietpatat]

Originally Posted by hotsawce

That's unfortunate.

No surprise it came, primarily, from undue government intervention in the market place at a terrible time.

Pietpatat, what's the accuracy in your account so far, including the recent loss.

You mean winning rate ? 91%, including the 1.8 pip loss after the big loss on thursday.

[hotsawce]

So how is everyone doing with megadroid? What's new in the world of Forex?

[pipsmaniac]

hello ppl.. i am new to using megadroid pro here.

can you ppl share ur settings on various pairs like eurchf, usdjpy etc.

pipdetector, i saw in ur fxbook, that eurchf trades have been fabulous. Can you share your settings?

[li21]

Hi all,

Im new to EA's and I', thinking of going with Megadroid after much research.

Just wondering as of March 2010.. is this still working well for you guys?

Anyone still having problems or little or no trades?

Lastly, can anyone confirm results with gomarketsaus.com (Go Markets Australia?)

thanks

[Ken Long]

Quote :
Originally Posted by li21
Hi Ken,

Sorry for the messge out of the blue, but ive read your posts and you seem to be one of the most clued in members on the forums. I also noticed you have used Megadroid.

I'm thinking of getting Megadroid as it has be most consistent results and positive reviews..

Just wondering if MD's success is a thing of the past or is it still able to make good trades today?

Can you recommend anything better than MD?
FAP Turbo? Robo Miner?

If not can you tell me more about MD that makes it a good choice?

thanks


I am still running MegaDroid live with very good results. However, I am still distrustful. If you review the posted backtesting on their web site, or run your own, you will see larger losses and consecutive losses. In all cases it has the ability to come back from them, but several large consecutive losses can set it back considerably. Still, this is one of the best running, and easiest to work around, that I have seen. There is a more active discussion and live testing on the FPA forum, forexpeacearmy.com/forex-forum, as well DonnaForex.com posts her results. She uses the Advanced Droid Tactics to make it trade more often, but her results are still informative, and her weekly e-mail is definately worthwhile.

Also, there is a specific MegaDroid forum, forexmegadroid-forum.com, with lots of good information and help for newer traders.

And, I cant recomend anything better than MegaDroid. Certainly not FAP-T, FAP-T is capable of placing many more trades and even making more money, but its grossly unreliable, going through large and frequent losing streaks. MegaDroid is by far the easiest and most reliable EA that I have seen, and the only one that I have any real degree of trust in.

[hotsawce]

I kind of disagree with you, Ken.

I think many of the problems with megadroid can be attributed to large spreads or bad brokers. Many people using a specific type of broker have been having amazing results...

[Ken Long]

Originally Posted by hotsawce

I kind of disagree with you, Ken.

I think many of the problems with megadroid can be attributed to large spreads or bad brokers. Many people using a specific type of broker have been having amazing results...

What is it your disagreeing with? And what problems are you talking about?

MegadDroid, like any scalper is sensitive to wide spreads, but that isnt much of a problem on the EURUSD, and as far as bad brokers, c'mon, its the EURUSD, not some illiquid penny stock, whats a broker really going to do to affect MegaDroid very much? I would be more concerned about the FOMC meeting on interest rates tommorrow at 4:15 ET. As far as your specific type of special broker ?? ECN's and other straight through brokers claim to be better, but their spreads vary a lot during MD's trading hours, however, any broker with a spread less than 2 pips would be a benefit, the lower the better, unless it requires an added commision. You have to figure those commisions are added on seperately, win or lose, all those little 1 pip breakeven trades suddenly become losses. The advantage is the EA can pick up a few more trades, simply because the trading costs are being tacked on afterward and not factored into the trade. The actual spread has a lot to do with the EA's ability to open trades when the range is tight, but how many pips does the EA have to give up to cover those commisions?