MegaDroid

[Mavrik]

This EA will be a wild ride according to their website's backtest results dating to 2001. Many huge drawdowns, 2006 DD was 72.85%, but it always ended the year in huge profit. Definitely one to bank profits on a regular basis.

I've got the EA purchase money and $500 to run a live account, but just can't seem to pull the trigger on any of these EA's as yet. I'm also at a loss as to what broker to use in USA account. Any suggestions welcome.

[Ken Long]

Originally Posted by sergiel

I started using MegaDroid on my Alpari-us demo account day after it was released and was starting to wonder why it wasn't making any trades. Any idea if they will upgrade to Build 222 soon?

Downloaded the UK version but wont perform a backtest for some reason. Is GMT setting on UK 1 as well?

Thanks all

Sergiel,

I had this same problem with FXDD. I was still on build 220. It did take the trade on 4/2, but my stop and target were different than theirs.

After writing to FXDD they sent me a link to download the MetaQuotes setup file, which I ran on the existing FXDD MetaTrader file. This updated my platform to build 223 without any loss of data. This was a simple overwrite, after initiating the setup file it asked me to confirm the location (program files/MetaTrader 4) to download MetaTrader to, and I redirected it to the existing (program files/FXDD - MetaTrader 4) file.

I got the setup file from FXDD, but I'm pretty sure you can get the same setup file directly from MetaQuotes. It was their product.

It appears this would have updated automaticaly if I was using Windows Vista, but on Windows XP it has to be done manualy, at least with FXDD. On FxPro everything updated automaticaly on my Windows XP.

[Ken Long]

BatchBoy,

Thanks for all the out of sight backtesting. I just havent had time to get to any myself yet.

I did go through some of their posted trade statements and noticed the periods of loss you mentioned. It seems to me that if they had had the Recovery Mode on during this time it would have blown up the account. Recovery Mode just seems to be a limited Martingale. However, if the lot size was more conservatively small both the Recovery Mode and the false Reduce Lots would work well.

Interestingly though, most of the bad trades they closed with 1 pip profit, thereby maintaining the high win ratio. Unlike FAPT which closes similar trades with a slight loss, even when unnecessary.

[Woody]

I emailed Alpari as soon as I purchased Megaroid and read the manual and discovered that MT4 needed build 221 or higher.

Date Submitted : 04/01/09 09:46:07 AM
I have some indicators that require MT4 Build 221 or higher. Current ver is 220. When is update available?

Response: soon after
Our IT dept is still testing the new version. We don’t know when it is going to be done.

Thank you.

I placed the ea on an IBFX and Alpari Demo accounts anyway. IBFX has made several trades, Alpari none. So I would suspect that it is a Build 220 issue.

[rsmereka]

Originally Posted by Woody

I emailed Alpari as soon as I purchased Megaroid and read the manual and discovered that MT4 needed build 221 or higher.

Date Submitted : 04/01/09 09:46:07 AM
I have some indicators that require MT4 Build 221 or higher. Current ver is 220. When is update available?

Response: soon after
Our IT dept is still testing the new version. We don’t know when it is going to be done.

Thank you.

I placed the ea on an IBFX and Alpari Demo accounts anyway. IBFX has made several trades, Alpari none. So I would suspect that it is a Build 220 issue.

I am using MegaDroid with Alpari UK and Metatrader V223. No issues.

If Alpari will not offer the update, I would suggest getting the full Metatrader v223 install package and installing it. You will need the host name or IP address of the Alpari US server which can be found here. The login ID and password are the same. In general, if a broker cannot or will not provide the proper Metatrader version, get the vanilla install package from the Metatrader forum. Please try this on a demo account first so that you are familiar with the procedure before trying this on any live account.

Most VPS's use this method. They install the vanilla Metatrader because they do not know which broker you are using.

I also searched for just a vanilla update for Metatrader but could not find any specific links to just the update.

Good luck,
Rick

[rsmereka]

I just found this in my email:

* * * * * * * IMPORTANT * * * * * * *
==========================

After literally hundreds of support tickets on this subject, we have
decided to try and short -circuit the issue and simplify the process of
back-testing.

Due to the many variations in broker -end settings (server time offset,
trading times, differences in pricing and spread ) coupled with the fact
that some brokers implement Daylight Saving in actual trading but do
not always apply it to their back-test data, users have experienced a
lot of confusion and frustration while attempting to produce reasonable
back-tests.

We are therefore requesting that all users follow the instructions in the
manual to download and install MetaTrader from the ForexMeta website
for back-testing purposes.

This does not in any way affect your choice of broker for forward-testing
or live-trading but will provide a consistent environment for users to
confirm performance figures.

As mentioned in an earlier update, the correct GmtOffset value for the
ForexMeta version of MetaTrader is "+3".


Regards,

Albert, John and the MegaDroid Team

So it appears that installing the vanilla Metatrader (independent of the broker ) will also help solve the backtesting/time issues. See my previous post on how to do this (my example was for Alpari US). You first need to find out your broker server host name or IP address.

Rick

[Ken Long]

Originally Posted by rsmereka

If Alpari will not offer the update, I would suggest getting the full Metatrader v223 install package and installing it. You will need the host name or IP address of the Alpari US server which can be found here. The login ID and password are the same. In general, if a broker cannot or will not provide the proper Metatrader version, get the vanilla install package from the Metatrader forum. Please try this on a demo account first so that you are familiar with the procedure before trying this on any live account.

Most VPS's use this method. They install the vanilla Metatrader because they do not know which broker you are using.

I also searched for just a vanilla update for Metatrader but could not find any specific links to just the update.

Good luck,
Rick

Rick,

full Metatrader v223 install package

This is the direct link to the same MetaQuotes.net setup.exe file that I mentioned FXDD had sent me. All that was necessary was to click run and redirect it to the file I wanted to overwrite. It updated my mt4 platforms without any problems or losses of current data.

I dont know about any need for a login ID or password. I just tried your link and it worked exactly as I said. This is about as vanilla an updater as I could think of.

[rsmereka]

All that was necessary was to click run and redirect it to the file I wanted to overwrite.

Ken,

I am not sure I understand what you mean by this. Especially when you say 'redirect it to the file'. What did you do to accomplish this?

Rick

[Ken Long]

2 trades last night

I picked up two simultaneous trades last night, one from strategy 1, and one from strategy 2. The strategy 1 trade closed with 5 pips profit, and the strategy 2 trade closed with 15 pips profit. The strategy 1 trade is listed on their web site exactly as it happened, but they dont list the strategy 2 trade. Both of these trades occured on my live account, my demo account didnt take them because I had turned on the fixed ratio. Theres still something I dont understand with the BaseDeposit and StepRatio.

Further, if you go back through the recent trades listed on the web site, every one of them occur during the FAPT trading hours. I've just gone through several years of data and there are no opening trades outside of this time window. This robot just appears to be an eurusd scalper, designed and based on the FAPT, and utilizing features from several other robots.

As far as its artificial inteligence algorithims go. I suspect these may be nothing more than having two trade strategies, one for a smaller profit target than the other. With the smaller target being the more conservative strategy, which appears to be what they are running right now. Further testing and observance are still due...

[Ken Long]

Originally Posted by rsmereka

Ken,

I am not sure I understand what you mean by this. Especially when you say 'redirect it to the file'. What did you do to accomplish this?

Rick

When you click run, either directly from this link or after downloading the setup file to your computer, it will ask you to choose your language and then it will ask you to confirm the location to place the MetaTrader file in, (program files/metatrader). I simply click the browse button and choose my existing metatrader file, ( program files/fxdd-metatrader 4), instead of the location they suggest. It tells me that there is already a metatrader file there and asks if I'm sure I want to install in this location. After confirming the location it simply overwrites my files with the new version.