Discuss Forex-MegaDroid.com

[pusoy]

Fed up of this MD V1.3, since I loaded it I have lost money. I cannot believe some of the trades that MDv1.3 opens which would not see on the old version. I emailed MD support and they stronly feel that MD V1.3 will be a success. from what I have seen so far I very much doubt it. As from today I have gone back to using V1.21, I am not sure how long they will keep this old version running but I would not be at all suprise if they revert back to V1.21

:nerd:

 

[Dirk58]

hi guys...

1.21 made me a pip the night. Slept well havin the ol version re-installed. But it could be that the new version isn´t bad at all. When you watch the charts the last hour of US market was mostly quiet too so should been no problem to trade normal. Time will tell us...
so, another post from PT...
Fast money shy of playing games tonight and MD doing fine.

See good support around 1.2660 +20 area at present.

Expect that to vanish into the early morning european session with a sudden break through 1.2600 to retest 1.2300 area soon, playing the news.

Exit longs and build shorts 1.2680-1.2700 with an increase of position at 1.2570 sell stops.

PT

Note:

Do not get too excited about todays trades, markets still struggeling to find direction.

always good trading

 

[Dirk58]

Quo Vadis?

here´s another one between v1.21 and v1.30...

Last night 1.21 opened 2 Sell orders. It was doing great and would have made huge pips, then it went in the opposite direction, and broke even. On the other hand at the same time, 1.30 opened 2 Buy orders and the market went up and it made pips. 1.21 didn't anticipate the market change going in the opposite direction, and 1.30 did.

 

[Ken Long]

I think its best to run 1.3 on demo and do some backtesting for a month or so, untill we have a better idea of what its doing. As long as 1.21 still works I'm happy. I think we are lucky to be in early enough to have 1.21, new buyers wont have that opportunity.



The Forex Hippo is very interesting. The manual strategy claims it runs off the RSI, Stoch, Fractals, CCI, and 50 and 100 SMA, all on the default settings, and it likes to wait for them all to reach the overbought level to enter a long trade, in the direction of the trend, following a fractal. Likewise it waits for an oversold condition in all the indicators to enter short. This is interesting, most systems would use the oscilators to signal an entry as they moved from one extreme to the other. Instead Hippo's strategy uses them for confirmation of condition, and enters after a fractal.

The user controls are detailed with a Stealth Mode, Auto GMT Offset, TP and SL adjustable,
Risk as a percent of the account you stand to lose, not a simple percent of free margin,
Order Time Out or Custom Level Pips, Order Time Out will automaticaly close an order after a set time, Custom Level Pips will specify a minimum number of pips so order wont close at a loss,
Reverse, not recomended, reverses trade direction,
Sleep Time, space between trades, 30 minutes by default,
Trade Fri, true by default,
Close Fri and Hour, false by default, automaticaly closes all open trades,
Use MA Open Filter, false by default, only opens trade with the 50 and 100 MA,
Use MA Close Filter, false by default, closes trade when the SMA 20 changes direction,
Use BB Open Filter, false by default, Bollinger Band is used to confirm good entry point,
and Authorization Code, only 1 live account and 4 demo accounts allowed.

It can run on any pair and any time frame. They recomend the 1H and they have optimized TP and SL levels for 8 pair, some use the MA Open Filter and 1 uses the BB Open Filter, otherwise the settings are default.

This is no simple EA, theres a lot that can be adjusted and changed with these settings. A good optimizer could have fun with this one, but for most of us this could be a problem.

I will post this on the Forex Hippo thread and continue there, not here.

 

[michaelwen]

no trade for 1.21 MD,anyone?

 

[Dirk58]

hi guys...

again 1pip with 1.21 at LightForex...
anyone here with v1.3 and pips?
I think August market is a bad one, it is at stock market one.

This Hippo does look very interesting, had problems now too but overall an amazing run he did so I will watch him closely.

always good trading

 

[Dirk58]

here is

onother one:

Maybe a few suggestions:

1.August and September are always difficult months to trade, because of holidays and positioning for the last quarter.

2.Why the MD developers released a new version is pure speculation and could have many reasons, beeing changed market conditions none of them and here is why:
MD 1.21 had a very good run and did not produce a high number of losers and traded very consistent(aggressive=false). There is absolutly no need for any changes because of performance.
My personal view is different on the upgrade. MD 1.21 without aggressive=true trades very seldom, sometimes only 3-5 times a month. Many novice traders are under the wrong impression, that many trades=more money. In consequence MD folks pushed for more trades by changing trade times and part of the settings, in order to come up with more account activity.
Quite naturally this exposes MD 1.3 more often to the market and can(at least backtest shows that) give equally good results, but more losing trades in total with a much higher drawdown(equal risk).

3.Drawing a final conclusion about the quality of MD 1.21 after one dismal week is very premature, especially if one looks at the Uriel Katz account, which did not have a single loser! Oh dear, if we were trashing all systems, which had a bad week, we would never trade again............

4.As always, solutions are easy, if common sense is applied.
-Using a new version without any documention is careless
-Trade 1.3 on a Demo account to get a feeling for the changes
-Run 1.21 with lower risk in the difficult months
-Avoid choppy markets, if you can
-At times close trades manually, specially after a trade is open for more than 1h.

5.If you are feeling uneasy, switch off your live accounts and run Demo only until you are comfortable again, since you are not missing much.

Happy trading

PT

 

[Dirk58]

something to

smile :

Read on another forum unsettling news about 1.30:

Do not run MD 1.30 using ADT (other GMTs). Brokers are now trying to hedge against MD trades....and don't tell me this market is too big to be effected by MD. You watch...once your order hits it will become a semi fast market. It does not have to your broker per se.

What I have heard is that this new version is supposed to prevent all brokers getting hit at the same exact time with same price. There are too many copies legit or not running. I don't think that the method has changed...maybe optimized. Unfortunately this EA is not for the light of heart. Countertrend can test your testies. If you don't have faith in MD totally...it can be emotional roller coaster.

and the answer from a Pro :

Spilled my tea over my desk laughing about that statement.

Using a RSI channel based system with 1+X TF confirmation works only during slow market hours.
21-22GMT is probably the best, 21-23GMT second best and 20-22/23 much more riskier, but not because fast money sees any MD trades or funny money dealing desk broker trades against the MD orderflow, just simply because bigger players are positioning themselves for the roll and liquidate or take positions from the US session close into the Australian/Asian session opening bell and associated news.

More often than not, one will see larger moves in EUR-USD after the US session close, which is exactly the new trade hour start of MD 1.3.
Therefore one will see more trades, because indicators are signaling more often than not entries. On the lower TF`s one will also see more false entries, than after the rollover.
Since MD is a countertrend system, placing trades on lower TF`s during positioning hour will lead to more trades and also more losers, than simply sit and wait after roll plus 1 or 2 hours.

That is all, no mystery, simple market behaviour, which has not changed over years.
In august and september many big banks are not bidding during these hours, because their desks are staffed with sit-ins and not with the seniors, who are allowed to trade. So one sees execution only during these months.
Furthermore Asian traders are taking a more aggressive stance, if they liquidated positions in the US Bond and Stock markets before to convert their chips for the next play.

We are usually on 10 by 10 within 0-10 pips after US close and during the night, but 5 by 5 just between 21 15 GMT and 22 GMT, because we are changing seats. So even 10 would not move the market a blip, if hit, but i seriously doubt, that all MD traders even add up to 5 a pop.

This is not lots guys...............pro`s deal Forex in other numbers.

I would not believe anything written in any message board or forum, which can not be verified by facts. Blunt statements are simply worthless.

Can you all see Level II volume on Bid and Ask, don`t think so fellows.
Do not believe what your bucket shop chief criminal broker support fellow tells you...........lol

Try to find somebody, who trades in Currenex or Fxall(I am talking a member, not a brokerage firm, which pretends to offer that) or open an account with Interactive Brokers, which displays volume at Bid/Ask level II.
Than you can judge and verify.
Not possible with this 15 year old amateurish designed Meta thing you might use for trading.

 

[Ken Long]

Great comments Dirk, thanks. I enjoy reading this stuff and learn something too. PT has some great opinions, very similar to my own. With Aggressive to False we will not get as many trades, and we will not get 15 pip targets. This is why my testing recomended Aggressive true and NFA True. It cut the risk of doubling up on trades, but still maintained good activity and higher returns. But it needs a clear EURUSD. If I have a longer term swing trade open or anouther EA has a trade open on the EURUSD, MD will not trade. This is partially why I have considered changing settings as well. I will watch and compare for now and perhaps go back to my original settings after Sept.

That last post is very good, with attitude to match, but he knows some stuff about the brokers that I dont. Thanks for posting that. I've never seen Currenex or Fxall, but I was under the impression that Volume and Level II bid/ask information were not particularly accurate and useful in the Forex market.
The best they can do is show the levels from their own brokerage and partner banks, if this information is broadcast. There is no centralized market to collect this information like in the stock market, each broker and bank is a seperate entity, so I'm not sure how useful this information would be. They might get a better picture of volume, but pending bid/ask prices are not universaly broadcast, and even if they are MD and other good EA's use a stealth mode, or at least a wide stop in the market and an internal algorithm to close trades before the stop.
And his comments about MetaTrader being amatuerish, are kind of amatuerish and ignorant themselves. MetaTrader may not be at the level of Currenex and Fxall as far as Level II information and that style of trading, but it is an excellent charting and trading platform. Possibly better than what they offer. I have found it to be better and easier to use than what most brokers offer on their own. It really comes down to trading style, and many traders who live and trade with Level II style information like to condemn others, particularly those that dont follow news and information, and trade directly from charts and price action.
But he is right about what MD is trying to do with the new version. A lot of people complain about MD when it doesnt trade. They want consistant and constant action. But this doesnt produce more money. Just more activity. The best and most reliable money is made by waiting and waiting for ideal setups with ideal timing.

 

[Dirk58]

ya Ken

I like his comments too even if I understand mostly half of that if he went to the Pro side....

anyway, as you said, you test the Hippo EA now. He is looking doin very well and I will watch your results within the Hippo thread.

So Ken do you know about FXCMs new Trading Platform Strategy Trader? Because I read this one is lightning fast havin Direct Connections! No Bridges! Lighting Fast Execution Speeds! They had this at the Vegas Expo this year..

this is in beta but with very good response. Do you heard of this one?

And...... I have an EA at radar looking for who will be able to use this platform too..... he´s brandnew so no results yet but well known beta testers said they were blown away......