Rsmereka Trading Journal

[rsmereka]

Originally Posted by jaychiew

Hi Rick,

My MD opened 2 trades (about the same time). Not sure if we're talking about the same trade (you only had one). I just had it break even. I've not seen MD taking 2 open trades. And yes, mine's the latest MD.

It is normal (but does not happen that often) that MegaDroid opens two trades. If memory serves me, that is about it. I don't think I can recall MD ever opening three.

Rick

[rsmereka]

I removed Titan from my demo account and closed the account. There is no need for this account anymore since all of my demo accounts are tied to only one EA and they are review accounts posted here.

I also upped the MegaDroid risk setting on my live account from 0.10 to 0.20 (after I could finally get MegaDroid to authenticate...again).

Rick

[Dan]

rsmereka,

If you don't mind, I wanted to run some settings by you to make sure they are the same as yours on MD 1.3. It seems like everyone is running it a little different. Everything default except, NFA: true, RecoveryMode: false, and risk level 0.2. Does that sound right?

P.S. I was thinking about running it on a risk setting of 0.3 if everything goes okay in my demo account. Do you think this is to risky for this EA?

Thanks,
Dan

[rsmereka]

Originally Posted by Dan

rsmereka,

If you don't mind, I wanted to run some settings by you to make sure they are the same as yours on MD 1.3. It seems like everyone is running it a little different. Everything default except, NFA: true, RecoveryMode: false, and risk level 0.2. Does that sound right?

P.S. I was thinking about running it on a risk setting of 0.3 if everything goes okay in my demo account. Do you think this is to risky for this EA?

Thanks,
Dan

Hi Dan,

Sounds right to me.

One comment about the risk. I usually run it at 0.40. I dialed it back to 0.10 after the upgrade to version 1.30. I spent a week at 0.10 and last Sunday, I increased it to 0.20. I plan to weekly increase it by 0.10 to my previous maximum setting of 0.40.

I you really want to see MegaDroid perform, set the risk on your demo to 0.40 and go from there. There are a number of people (including me) that run it at 0.40 on a live account and have no complaints (other than MegaDroid's trading frequency).

Rick

[Dan]

Rick,

Thanks. I had my first trade with MD last night. Risk setting .3. Results varied in my two demo accounts as expected. Alpari US +$66.96 and IamFx after commissions and swap -$7.15. Alpari seems like a great broker and I will probably open an account with them, the only downside is they only offer max 100:1 leverage . I guess I would need to run it at the higher risk level to compensate for the decrease in position size. Where it will make the biggest difference is with the aggressive feature. I will have to tweak it until it is right. I will just have to run MD alone. It is hard to find a good broker in the US in my opinion. Thanks again.

Daniel

[rsmereka]

Originally Posted by Dan

Rick,

Thanks. I had my first trade with MD last night. Risk setting .3. Results varied in my two demo accounts as expected. Alpari US +$66.96 and IamFx after commissions and swap -$7.15. Alpari seems like a great broker and I will probably open an account with them, the only downside is they only offer max 100:1 leverage . I guess I would need to run it at the higher risk level to compensate for the decrease in position size. Where it will make the biggest difference is with the aggressive feature. I will have to tweak it until it is right. I will just have to run MD alone. It is hard to find a good broker in the US in my opinion. Thanks again.

Daniel

Hi Daniel,

I am not a fan of Alpari US. I have no personal experience with them but have read about lots of problems. This arm of Alpari is much different than the UK division. The 100:1 leverage will also cause problems for you as you mentioned. This is an important factor when using scalpers. If you decided to add a companion EA to the account, the leverage demands (as a result of both the EA's trading plus the high lot size) is really going to cramp your act.

I suggest that you take a closer look at non-US and/or non-NFA brokers. Lots of US people here that have gone through the same thing as you. I think you should check out ATC, FXPro, FXOpen and FXDD. ATC has four stars at forexpeacearmy.com. I have no personal experience with any of them but have read some good things.

Rick
Friends don't let friends use NFA brokers

[Dan]

Originally Posted by rsmereka

Hi Daniel,

I am not a fan of Alpari US. I have no personal experience with them but have read about lots of problems. This arm of Alpari is much different than the UK division. The 100:1 leverage will also cause problems for you as you mentioned. This is an important factor when using scalpers. If you decided to add a companion EA to the account, the leverage demands (as a result of both the EA's trading plus the high lot size) is really going to cramp your act.

I suggest that you take a closer look at non-US and/or non-NFA brokers. Lots of US people here that have gone through the same thing as you. I think you should check out ATC, FXPro, FXOpen and FXDD. ATC has four stars at forexpeacearmy.com. I have no personal experience with any of them but have read some good things.

Rick
Friends don't let friends use NFA brokers

Rick,

Thanks. I looked at forexpeacearmy.com (nice website). I found a 4 star broker that looks great with low fixed spreads (.5-1), 500:1 leverage , 20% bonus, STP , and no commission or swap fees. However, they say they charge a 1 pip commission on all scalpers transactions (it all sounded so good until I got to this). Could they tell that I am using megadroid? The megadroid website says it is not traceable but I think I remember you saying it is still traceable by the broker . I went ahead and opened a practice account because even with commission , spreads are super low (fixed .5 pip 0n eur/usd).

It is nice to be able to talk to someone with such a vast knowledge as yourself. I thank you for being so helpful. If you ever need any help with ahything (testing promising robots on my vps, researching for you, or anything like that) just let me know, I would be glad to help.

Sincerely,
Dan

[rsmereka]

Originally Posted by Dan

Rick,

Thanks. I looked at forexpeacearmy.com (nice website). I found a 4 star broker that looks great with low fixed spreads (.5-1), 500:1 leverage , 20% bonus, STP , and no commission or swap fees. However, they say they charge a 1 pip commission on all scalpers transactions (it all sounded so good until I got to this). Could they tell that I am using megadroid? The megadroid website says it is not traceable but I think I remember you saying it is still traceable by the broker . I went ahead and opened a practice account because even with commission , spreads are super low (fixed .5 pip 0n eur/usd).

It is nice to be able to talk to someone with such a vast knowledge as yourself. I thank you for being so helpful. If you ever need any help with ahything (testing promising robots on my vps, researching for you, or anything like that) just let me know, I would be glad to help.

Sincerely,
Dan

Dan,

Most STP brokers charge commission , that is one way they make money. Here's a discussion about the different types of brokers (at BabyPips.com) and some information about STP that I did not know and (if you read the posts below), a vote for FXOpen.

Thanks for the kind words. I lead by example trying to foster a sharing community instead of a selfish/cruel one. You can help me/us best by continuing to contribute and share your experiences so we all benefit.

Rick

[carlprad]

Rick

How do you run multiple instances of MT4 on your VPS. Can you do multiple instatnces of MT4 for the same broker , or does each instance of the program require you to have a different broker ?

Carlos

[rsmereka]

Originally Posted by carlprad

Rick

How do you run multiple instances of MT4 on your VPS. Can you do multiple instatnces of MT4 for the same broker , or does each instance of the program require you to have a different broker ?

Carlos

Carlos,

The VPS is just a Windows virtual desktop environment. You just download MT4 from your broker and change the installation directory so you have different copies each in their own directory. For example, my broker is Alpari UK. The live account is in:

C:\PROGRAM FILES (x86)\METATRADER - ALPARI UK

The second copy (first demo) is in:

C:\PROGRAM FILES (x86)\METATRADER - ALPARI UK-DEMO1

The third copy (second demo) is in:

C:\PROGRAM FILES (x86)\METATRADER - ALPARI UK-DEMO2

and so on.

I have a total of six copies of MetaTrader running at any one time (one live and five demos).

The x86 in the above path is because my VPS provider is using the 64-bit version of Windows which puts all 32-bit programs into:

C:\PROGRAM FILES (x86)

Each copy of MT4 can be connected to any broker on a demo or live account. The only restriction is that a single MT4 instance can only be logged onto one account at a time.

Rick
Rick