Forex MegaDroid review - 12 brokerages

[ryan705]

Originally Posted by pipsbuster

These are the default settings (conservative strategy, 5% risk level).

Thanks for the reply. Very much apperetated.
Good Trading

[PipCop]

UPDATE: GoMarkets deleted my test account, so it has been pulled.

[Bizking]

Originally Posted by PipCop

UPDATE: GoMarkets deleted my test account, so it has been pulled.

Why would they do this? Can you be more specific?

[PipCop]

I don't know why, but I get this from time to time. I try to login from metaTrader and it says "Invalid login". After several attempts I write them off.

FXDD won't let me register new accounts, for example, so I don't do reviews with them. In my opinion, if the demo accounts are not easy to setup and maintain, I don't want to see what it would be like with real money on a real account, so those brokers lose my business ... and reviews.

[Bizking]

I had the similar problem, try to login in with my acc. number
instead of MT4 user ID. Give it it another shot. My get lucky.

[jerrycollie]

Last week from May 4 thru May 7 my Megadroid recorded 5 trades. Other traders reported similar trades. Out of 12 brokers on this site no trades were recorded for Megadroid May 4 thru May 7. I suspect these 12 Megadroids are not functioning. Please check these Megadroid robots making sure they are version 1.11, they have a smiley face and a line stating authenticated.
Thanks, Jerrycollie

[Blackhand]

Originally Posted by jerrycollie

Last week from May 4 thru May 7 my Megadroid recorded 5 trades. Other traders reported similar trades. Out of 12 brokers on this site no trades were recorded for Megadroid May 4 thru May 7. I suspect these 12 Megadroids are not functioning. Please check these Megadroid robots making sure they are version 1.11, they have a smiley face and a line stating authenticated.
Thanks, Jerrycollie

Megadroid can only be used in one real account... However, in my real account of FXDD, 5-8 May had 5 trades. Another thing: FYI
DO NOT simply buy Forex Vengeance or Magic Machine.
i bought this 2 EA and ARE SUCKz!! FV doesnt hav an entry last week, today it has, but all being stop out!!! And u will receive another email to tell u buy another Advance System...
MagicM is even worst, is only optimized for EU !!! How about the multiple pairs' result shown in website is cool??? U will receive another mail too, ya, another $97 to get ADVANCE system. Perhaps the multiple pairs is doing by hidden ADVANCE system, Things r shady in advertisement. BEware MagicM is just some lousy breakout system, i am losing some $$$ bcos of this EA buy at TOP!!!!

[Ken Long]

Originally Posted by Blackhand

Megadroid can only be used in one real account... However, in my real account of FXDD, 5-8 May had 5 trades. Another thing: FYI
DO NOT simply buy Forex Vengeance or Magic Machine.
i bought this 2 EA and ARE SUCKz!! FV doesnt hav an entry last week, today it has, but all being stop out!!! And u will receive another email to tell u buy another Advance System...
MagicM is even worst, is only optimized for EU !!! How about the multiple pairs' result shown in website is cool??? U will receive another mail too, ya, another $97 to get ADVANCE system. Perhaps the multiple pairs is doing by hidden ADVANCE system, Things r shady in advertisement. BEware MagicM is just some lousy breakout system, i am losing some $$$ bcos of this EA buy at TOP!!!!

Are you sure MegaDroid can only be used in one live account? I havent read this anywhere else. It has been doing very well on a small live account with FXDD, and I was considering opening anouther.

I agree about Magic Machine. I bought this on the hope it would perform as well as MegaDroid, and am quite disapointed. I ran many backtests this past weekend. It only performs well for the year 2008. Evey year before that it choked. The conservative mode made no money for the years before 08. The aggressive mode blew the account almost immediately. Only with a 2% risk setting could I get it to survive, and it almost didnt make it. However, it did amazingly well in 08.

This is a clone of the free "vForce like EA", http://www.tradingsystemforex.com/co...achine-ea.html, with a good short term optimization. And yes, it is strictly a breakout trader, with only this one strategy, and not much for trade managment other than a stop, target, and trailing stop. It does not appear to have any fancy adaptive algorithims. Its backtest results are due to a good optimization, and a good core indicator , vForce, available for free on the ForexFactory, http://www.forexfactory.com/showthread.php?t=155871, with instructions for use.

Really a disapointment, but an expected one, thanks for ClickBank.

[LarenR]

Hello folks,

Ken, I have been using Megadroid on a live acct for a month now and am very happy with it's performance. I started with the risk level at .2, then went to .3 and now recently changed it to .5. Since it hasn't lost one single trade, it's hard to know what the risk level really is, how much I could stand to loose if I lost. What risk level are you using?
L

[Bizking]

This is very very good news, copied from MD forum. http://forexmegadroid-forum.com/index.php

Just so you know I asked the Megadroid support team if they had plans for a multi-currency EA and they confirmed that they are working on this right now.
No hints as to when it may be released but it seems the deal is definitely on the agenda.