Forex MegaDroid

[pipsbuster]

Just checked on my ODL account. Surprisingly, it has shown the best result of all so far, both in terms of consistency and profit level:

 

[pipsbuster]

An update from the Forex MegaDroid developers:

...Version 1.10 of Forex MegaDroid is ready for release - we are simply finishing the updates to the manual before making it available. We are working through the weekend so, if all goes to plan, you will be able to download it on Sunday or Monday. We will email you as soon as the files have been uploaded so you will not miss out.

From a user perspective, the new version will be highly informative - the old "Waiting" & "Running" messages have been replaced by a whole sequence of comments which explain what is happening as the robot is running.

In addition, users who have accounts with ECN brokers will find that the robot is now able to place trades... unfortunately, connecting with ECN brokers requires significantly different logic in the trade placement code which we have now implemented - our apologies for overlooking that issue in the initial release.

Finally, we have overcome the instances of "error 1000" for those who were experiencing it and we have removed some unnecessary settings from the Inputs list to reduce confusion.

Now, on to current issues...

If you have been experiencing minimal trades over the last week or so then there are several possible causes:

1) Your broker's pricing conditions (spread, server delay, quote quality) are not good. This can simply be a temporary situation but, if things do not improve then we suggest trying a different broker.

2) Be especially aware that the MegaDroid robot does NOT trade on Fridays, at weekends or on Monday mornings.

3) Check whether you have any error messages or warnings, either on the chart or on the Experts / Journal tabs - if so, please let the help- desk team know about it: http://www.forex-megadroid.com/support/

It is also very possible that the robot will not trade for 24-48 hours (or sometimes more), regardless of broker, due to non-condusive market conditions. We have seen such conditions over the last week with all of the very wild swings on EUR/USD as it tries to balance the market sentiment / trader mentality with fundamentals - very frustrating but an aspect of trading life that we have to accept at times. ...

 

[pipsbuster]

I decided to give Forex MegaDroid the benefit of doubt and launched it off my VPS on four demo accounts - with IBFX, Forex.com, Alpari UK, and FXDD. My IBFX statement is streaming live through the MT4Stats website at http://jacobbeasley.mt4stats.com

As you can see, the robot took two trades today on it and both closed in profit. I got the same results for the day on the other three brokers - two profitable trades on each. Tomorrow I will have the statements of my accounts with them streaming through MT4Stats as well, so that you would be able to check them regularly at any convenient time for you.

 

[pipsbuster]

As promised yesterday, here's the full set of my account statements of Forex MegaDroid forward tests streaming live through the MT4Stats site:

http://jacobbeasley.mt4stats.com (IBFX)

http://jacobalpari.mt4stats.com (Alpari UK)

http://jacobfxdd.mt4stats.com (FXDD)

http://jacobforexcom.mt4stats.com (Forex.com)

 

[pipsbuster]

Just discovered one interesting thing: Forex MegaDroid employs a "stealth mode", which makes it absolutely invisible for brokers. Therefore, brokers cannot even tell the trades were placed by a robot, not to mention determining which robot it was. As a result, you can safely use MegaDroid with ODL and other brokers that do not favor scalpers and openly state so on their sites.

 

[pipsbuster]

I would also like to caution those who are tempted to use and/or distribute illegal copies of Forex MegaDroid mistakenly thinking that there is no way for the robot's developers to find out about it. They might do it selectively, based on the CB receipt numbers - once they notice that the same CB receipt number is being used for authentication by many users. Likewise, they might track down only those users whose CB receipt number is used for authentication by others. They won't need to obtain any information from the user's computer for it - it is enough for them to look up the info in their sales database.

 

[pipsbuster]

The first week of my Forex MegaDroid forward testing with four different brokers is over. Below is its brief summary with links to my streaming account statements (the initial balance on each account was $3000).

IBFX: $3137.10, 5 trades, 4 wins, with 1 more profitable trade currently open bringing the account's total up to $3168.78. Streaming statement: http://jacobbeasley.mt4stats.com

Alpari UK: $3146.66, 5 trades, 5 wins. Streaming statement: http://jacobalpari.mt4stats.com

FXDD: $3115.60, 5 trades, 5 wins. Streaming statement: http://jacobfxdd.mt4stats.com

Forex.com: $3084.40, 4 trades, 4 wins. Streaming statement: http://jacobforexcom.mt4stats.com

 

[pipsbuster]

Yesterday's only trade on my IBFX account which failed to reach the TP level eventually closed with a small loss. Yet is was far outweighed by today's two new trades both of which closed in profit on all four accounts. Hence, the current situation on my accounts is as follows:

IBFX - balance went up to $3198.86: http://jacobbeasley.mt4stats.com/

Alpari UK - balance went up to $3185.85: http://jacobalpari.mt4stats.com/

FXDD - balance went up to $3151.60: http://jacobfxdd.mt4stats.com/

Forex.com - balance went up to $3118: http://jacobforexcom.mt4stats.com/

How is it going for those of you who are also testing this robot?

 

[Philipew]

pipsbuster, this is an impressive result although on quite a small sample.

I have been looking at MD for a month (it seems quite good) and am about to get it for a test of my own. Before I do that, could you tell me more about the process. This what I think will happen but need some help filling the gaps in my "use case":

1. purchase the software for USD97.00
2. install it and according to the ad, get a platform installed with it to trade immediately
3. need a broker to trade (even in demo) But how do I get one? What's the procedure?
4. read the manual and sets "the" pair with very little tweak (mainly the GMT setup it seems) - what settings do you change (only a very few I know)?
5. then bang, in business...

Is it really this simple? Can you tell me what else I am missing beside a broker?

With a little help, I could be testing very soon too - then we can have more data on it... and compare - very interesting - can get a few friends to follow - if convincing and simple enough...

 

[pipsbuster]

pipsbuster, this is an impressive result although on quite a small sample.

I have been looking at MD for a month (it seems quite good) and am about to get it for a test of my own. Before I do that, could you tell me more about the process. This what I think will happen but need some help filling the gaps in my "use case":

1. purchase the software for USD97.00
2. install it and according to the ad, get a platform installed with it to trade immediately
3. need a broker to trade (even in demo) But how do I get one? What's the procedure?
4. read the manual and sets "the" pair with very little tweak (mainly the GMT setup it seems) - what settings do you change (only a very few I know)?
5. then bang, in business...

Is it really this simple? Can you tell me what else I am missing beside a broker?

With a little help, I could be testing very soon too - then we can have more data on it... and compare - very interesting - can get a few friends to follow - if convincing and simple enough...

It really is plain simple. As for the broker, you just sign up for an account (demo or real) with online brokerage like IBFX, Alpari or FXDD. The account opening is free of charge.