Megadroid does not have "inteligence", this is just you applying human attributes to a computer program. Megadroid is a well writen program that tests for a stable and wide enough range during select trading hours, and when it finds this it trades it accordingly. It does not adapt or change this proccess, it simply goes through a check list and when things line up it trades. Thats why it goes through such long periods without any trades, and why it trades more often on a commision based broker with low spreads.
It does have good trade management in that it quickly detects when a trade is not going according to plan, or when a trade has been open too long. All it does in responce is to change its internal profit target to 1 pip. Generally this is enough to get out of the trade without any loss. When this doesnt work it will ride the trade to a full stop out, anywhere from less than 50 pips to over 150 pips.
Never blindly trust in anything, question everything, test everything.
Do not be suprised when history repeats itself.
The Collective is a very small, very expensive, unregulated, boutique brokerage. That may, or may not, survive industy changes. It is of benefit to anyone who has enough capital and trades frequently enough to overcome their fees, or got in early enough to get better rates. As of now, I dont believe there are any accounts available, at least none that are affordable. To make this brokerage work for you, you need to trade large lot sizes and very frequently.
ATC seems good. They have very good pricing, their commision is listed as 0.40/lot, they are regulated with the NFA and CFTC, yet have no problems with the hedging and FIFO regulations, they have a $5K minimum deposit, they trade mini lots and mico's after the first 0.10, and claim to offer IRA accounts. Yet they havent responded in over a week. Neither demo account requests or direct e-mails have recieved any responce, which places them in quite a questionable catagory.
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