Forex MegaDroid review - 12 brokerages

[vogelezang]

Originally Posted by ttradr

vogelezang,
A 300% difference is certainly a major consideration, do u have any idea as to why the IBFX acccount makes 3x LESS than Activtrades? I'm assuming the setings were the same both accounts using gt-shadow. Have you run Megadroid on either account yet? I have IBFX and plan to be using Megadroid later this week. Any info on how IBFX handles MD would be appreciated.

ttradr,
The difference wasn't with a megadroid. When I was still using ibfx I'd never heard of megadroid. The difference was with gt-shadow, and yes, both with the same settings. I had to increase the lotsize of the ibfx gt-shadow from 0.01 to 0.03 to get the same results as a live gt-shadow on activetrades.
I've read a lot of complaints about ibfx with gt-shadow, robominer and fap-turbo. I'vead a lot of complaints saying ibfx looks great, great suppor etc. untill you're a customer. This is exactly my experiance. But if you're working with them already and you have no complaints then please disregard my comments. Whatever you do, stay away from pfg fx.

[pipsbuster]

Over the week that has passed, MegaDroid made 5 more profitable trades in a row on my ECN account with ATC, bringing my total balance up $4 469.66. Statement: http://apatc50.mt4stats.com/

[ttradr]

Originally Posted by pipsbuster

Over the week that has passed, MegaDroid made 5 more profitable trades in a row on my ECN account with ATC, bringing my total balance up $4 469.66. Statement: http://apatc50.mt4stats.com/

pipcop,
under the Megadroid review (12 brokerages) when I look under IBFX it appears there have been NO transactions. Will droid run on IBFX?

[PipCop]

It will. Unfortunately I have been really busy with the purchase of a new home and have not updated it. However, many members have been having great success with it, and I should have it updated within a week.

[Ken Long]

I've been running MD on a live FXDD account since shortly after it came out with very good results. Its opened 1 trade from its conservative strategy every night now for at least 5 days. All closed in profit, although not always the full 10 pip profit. It hasnt opened any trades from its aggressive strategy in a while, and I've only seen 1 loss since it came out.

Correction, all the recent trades from this month have been for the full 10 pip profit, and there werent as many as I assumed. I show 5 on my live account and 4 on my demo, only 1 per night, and no aggressive trades. Although it has made multiple trades from both strategies in the past.

Interestingly, this EA trades differently from account to account, even using the same broker . During this same period of time my demo account has not traded as consistantly, and there where periods of time where my live account went for over a week with no trades while my demo did trade consistently. I find this very interesting and unusual for a mechanical trading program, and I'm not sure how this is affected. Also, the targets and stops placed in the market change frequently. This may be due to some sort of volitility adjustment , but it doesnt seem to be. I am now considering that all of these differences may be some form of a random generator designed to disrupt massive pattern ordering and prevent easy detection. These kind of differences coupled with frequently changing the reference number would make this a very difficult EA to pinpoint. The best they could do would be to isolate the 2 hr trading time slot and try to make assumptions about which robot is which.

This said, I will open a second chart with this robot on the same FXDD live account, simply changing the reference numbers and keeping all other parameters the same.

[Ken Long]

Originally Posted by Blackhand

my FXDD account dont hav entries since last week. And the journal said error 126. MD reply is FXDD not allowed the EA.... Anyone on FXDD live acc got problem?

I trade this EA on an FXDD live account with no problems. FXDD has no restrictions against this robot or any other range scalping robot. I wrote to them earlier in the year when FAPT started having broker problems and they said that FAPT and other scalping robots were welcome.

Originally Posted by trendcat

so far so good, for the first month that is good
but it was a trending month on the euro
we will keep watching it
cheers

The trend in the Euro does not seem to be a part of its strategy. It is a range scalper and doesnt follow the longer term trend . It takes trades in either direction irregardless of the trend , often it doesnt even seem to pay respect to the short term trends. It simply waits for the 2 hr lull between the US and Asian sessions, measures the range potential, and attempts to enter high probability trades close to the edges of the range . And it seems to be extremely accurate at doing this. When I review its trades it almost always seems to open at the limits of the 1 hr bar and trade towards the center of the range .

[Gloworm]

Started MD 9 June on $5000 demo ac, today it is up $131 with no losers. Seems to trade when I'm asleep mostly

[Blackhand]

my dear fren, forget bout IBFX, my real account doesnt works on MD a week, due to high Spread on EU 6-7pips ..... Ya, they raise EG EC to prevent u profiting from Fapt, and now is MD turn >> EU.
NFA regulated sounds sweet, but it doesnt mean Ethic. Is only a regulated bucket shop.

[PipBear]

Hi fellow traders,
I have been running MegaDroid for quite some time now on demo, and recently I have started a live account also. Both accounts are doing OK, positive trading results.
I had an interesting experience, however, a few days ago, so I thought I would share this with all the members.
I was away from my computer for a couple of days, so I did not know what was happening, but when I got back to my computer and looked at the chart, I thought I was seeing things. (see chart attached).
On 15 June, 23:23 hours, the Droid took on 2 trades, only seconds apart.
The first closed after 25 minutes with a TP of $711.
The second trade (blue box), however, was kept open for almost 48 hours, so I closed it manually on 17 June at 22:09 hours (blue box). The TP was a very healthy $6,962.80. (+169 pips)

What I am concerned about is the following.
Firstly, how come the Droid went up +207 pips, when the manual states that the TP =15, although this supposedly varies? - HOW MUCH?

Secondly, if the trend went the other way and the Droid did not close the trade at max. SL =150, then the account would have been decimated?

Any comments would be appreciated.
Thanks
PipBear

[rsmereka]

Originally Posted by PipBear

Hi fellow traders,
I have been running MegaDroid for quite some time now on demo, and recently I have started a live account also. Both accounts are doing OK, positive trading results.
I had an interesting experience, however, a few days ago, so I thought I would share this with all the members.
I was away from my computer for a couple of days, so I did not know what was happening, but when I got back to my computer and looked at the chart, I thought I was seeing things. (see chart attached).
On 15 June, 23:23 hours, the Droid took on 2 trades, only seconds apart.
The first closed after 25 minutes with a TP of $711.
The second trade (blue box), however, was kept open for almost 48 hours, so I closed it manually on 17 June at 22:09 hours (blue box). The TP was a very healthy $6,962.80. (+169 pips)

What I am concerned about is the following.
Firstly, how come the Droid went up +207 pips, when the manual states that the TP =15, although this supposedly varies? - HOW MUCH?

Secondly, if the trend went the other way and the Droid did not close the trade at max. SL =150, then the account would have been decimated?

Any comments would be appreciated.
Thanks
PipBear

Hi PipBear,

I can tell you what happened but not why.

As you may know, MegaDroid hides the SL and TP points from the broker . It does this by not registering the trade SL and TP points (your 6K winner has nothing for SL and TP ). MegaDroid keeps track of the SL and TP internally. But this also means that if something happens to MT4, the SL and/or the TP may not be acted on.

What happened is that your running MT4 sort of crashed. I say sort-of because part of it was functioning and part of it was not. I have seen this many times before with MT4. Most likely was that the 'ticks' were not registering with the chart and the EA. That way MegaDroid was not able to keep track of the price. The tell-tale sign of this is that when you look at the chart, it is not updating.

Consider yourself very lucky, it could have went the other way.

Rick