Discuss Forex-MegaDroid.com

[Dirk58]

from Berlin...

first of all 0.75 is 75% risk level, would be too risky for me ......
no I don´t know that broker but FXDD and FXCM are good ones for MD trading...
about the GMT, MD has his own trading window using the start of the Sydney session for 2 hours so changing that won´t be a good decission because of much more volatility and within this forum there were several posts that this won´t work very good.
And if MD trade depends on vola within his trading window, so sometimes he trades a lot sometimes he won´t trade a week or even more.

and nice to meet you too oh:

 

[Ken Long]

hello can anyone respo0nse to my question,

i just want to know either u guys using the default setting of megadroid?

i got confuse with gmt offset, any one have suggestion whether should i adjust the setting or stay with default? what abaout the nfa?

3.0 spread is compatible with this ea??

thx in advance

Once again, the settings in MD are very simple. Default works fine. The only real concerns are that Aggressive Mode opens two trades at once, doubling your risk, and Recovery Mode doubles your position size trying to recoup losses quickly, also doubling your risk. If you run with both of these on you stand the chance of both doubling the position size after a loss and opening two trades at once. All I have done is too turn off Recovery Mode and double my position size all the time. I also turned on the NFA Mode which blocks the system from opening multiple trades on the same currency. This way it can open either conservative or aggressive trades, but only one at a time.

You will need to decide what your risk tolerance is depending on the size of your account and what kind of money it is. I have found that under these settings a 40%, .40 risk setting works well, but this may not be appropriate for your risk tolerance or account needs. I would suggest starting off smaller and testing the settings first.

Auto GMT works fine, and it automaticaly adjusts for daylight time. The main reason to use manual GMT is to force it to trade at different times.

 

[Ken Long]

Ken, I thought this no US thing was about the US government because a while ago they closed all betting accounts with moneybookers or Neteller, can´t remember which one that was.
Over here in Germany we have 30% taxes for doin business with stocks and FX and all this. Pretty hard. If you win they will take a piece of it and if you lose nobody cares. Pretty nice thing for the government because of no risk money for them.
But we have to live with this. And a bit less money is far better than no money at all.

As this said

always good trading

Most of Europe has incredibly high taxes, and scores of people who dont work for a living. The US isnt far behind. Short of setting up camp on a desert isle and refusing to pay taxes back to the homeland, there arent a lot of solutions. The US has IRA and Roth IRA accounts, which seem to be ideal for trading accounts, no reporting trading income and no current taxes. I'm working on converting all my IRA money into Roth IRA's. I will have to pay big taxes on this conversion now, but all withdrawls and future profits will be tax free.

I expect that the US will have to raise taxes at some point to pay for all the debt problems they've created. I also expect that they will have to implement the value added tax that most of Europe use, as well as any other invisible taxes, such as inflating the money supply, that they can force on the population.

I also expect that my own trading will steadily improve beyond simple sufficiency, and as much as I dislike paying taxes to a war mongering, thieving, goverment that works counter to the peoples interests, what I really dislike is having to report and declare my trading income, especially the stock and options trading, which has to be itemized trade by trade.

 

[michaelwen]

one trade open +9. have nice weekend guys^_^

 

[bellamy7007]

. The only real concerns are that Aggressive Mode opens two trades at once, doubling your risk, ...... I also turned on the NFA Mode which blocks the system from opening multiple trades on the same currency.

yeah thx dirk n ken..that pretty much explain of MD system,

sorry i got confuse with an agressive mode and NFA mode? can u explain a bit ken bcoz the they look the same to me.

so ken the things that u r using in MG setting is 40% risk aggressive=1 nfa=1,recovery=0...everything else is default,how much percent have ur account growth using MD,did u change ur setting from time to time?

hurm from my understanding u only turn on recovery mode when u suffer loss trade??
correct me if im wrong, sryy im pretty slow lol

 

[Dirk58]

gd day guys and girls???

ok, very quiet week for MD because of no trade.... :err:

bellamy, no, we never change the recovery mode if MD made a loss. He will recover from his next trades so if you had done settings to NFA true, Recovery false or no or 0 and NFA true that´s it!

The only thing you have to change once a month or every week is the S1_Reference and S2_Reference Number, and thats it.

Now you should have the best MD ever and if he trades only depends on your broker, the signals value and the vola within Sydney market.

always good trading

 

[B-Man]

Megadroid or Megadud?

I have been using Megadriod for 2 months on a live account. Approximately 12 trades in 8 weeks. One for a big 100 pip + loss. Other trades average about 3-10 pips profit. A big let down considering what the product boasts and testimonials. No i do not want a robot trading 10 times a day only to lose money but i don't see how the Megadriod can boast the gains it has achieved with this kind of performance. I have it on proper slippage, aggressive mode and recovery mode. If anyone has any other settings that have worked better would be happy to see what you have done. Cheers!

 

[Dirk58]

Hi B-Man

Ken does post about settings and knowledge about MD at this site and site before so have a look to it.
And we do not had any loss with 100 pips last two month. There was only one situation MD was in deep red but recovered when news came out so I cannot follow your statement.
But as I said just re-read last sites......

always good trading

 

[Ken Long]

yeah thx dirk n ken..that pretty much explain of MD system,

sorry i got confuse with an agressive mode and NFA mode? can u explain a bit ken bcoz the they look the same to me.

so ken the things that u r using in MG setting is 40% risk aggressive=1 nfa=1,recovery=0...everything else is default,how much percent have ur account growth using MD,did u change ur setting from time to time?

hurm from my understanding u only turn on recovery mode when u suffer loss trade??
correct me if im wrong, sryy im pretty slow lol

I have Recovery Mode off, Aggressive Mode on, and NFA Mode on.

Recovery Mode as you already know doubles position size after a lose. Aggressive Mode allows the system to open both Conservative, 10 pip profit target trades, and Aggressive, 15 pip profit target trades. NFA Mode conplies with the new NFA regulations that dont allow hedging and require first in first out trading.

The reasoning is simple. I've already increased my position size to the max. I cant afford to have the system doubling up on trades or increasing my position size further.


I am currently using a risk setting of .40, 40%, but my acount is very small. 40% backtested well and has worked fine going forward, but I dont think I could use this size risk with a large account. The actual risk as determined by the stop loss varries from 50-150 pips. The risk setting doesnt take this into account, its just a percentage of the free margin. So a 40% risk setting means we could lose from 20% to 60% of our entire account in one bad trade. I can handle this on a $500-1000 account, but not on a 10K++ acccount.

I dont turn on Recovery Mode at all. I dont like Recovery Mode. It is a Martingale style gambling system that seems to think the odds of winning or losing change after taking a lose. Whether we win or lose has no affect on the future odds, only the current chart and market conditions matter.

I dont have one MD account to show individualized profits. I run other robots and my own trading on all my accounts. PipBuster does have a specialized MD account, and he posts his results online.

 

[bellamy7007]

thx ken!! thats kinda explain everything about MD ,yeah pipbuster...he seem everywhere when it come to megadroid..he in other 3forum as well xD,really gud fellow thou.. so if my broker allow hedging then i can turn on the nfa right..?

oh yea dirk, S1 n S2,can it b change to any number?what role those 2 play?why need to change it?

so this MD performance will differ from one broker to another..is it because it spread?
i heard the smaller the spread the better for MD..is it true??is there any other factor due to this broker things?

thx in advance