Discuss Forex-MegaDroid.com

[pipsbuster]

The total of four more closed in profit - this time with both ATC ( MT4 Stats - Share your MetaTrader 4 Statements with the world ) and FXCBS ( MT4 Stats - Share your MetaTrader 4 Statements with the world ).

 

[Shengani]

Doubling upto eradicate losses? Gambling tactic

Megatroid has misrepresented their product insofar as it ignores basic money management principles and make use of doubling up on lot sizes to make up for any losses - a very dangerous and unacceptable practice in forex trading. It says they have not made a loss since March 2009. That is a gross misrepresentation! It is nothing more than a gambling tool and wiped out 10% of my equity in two trades. Furthermore, I have yet to get a sensible reply from their support team regarding risk management. Since I have installed the product on 21 July 2009 only 4 trades were made, 2 on Strategy 1 (showing <$5 profit) and 2 on Strategy 2 (showing losses). I will submit that Megatroid only shows their winning trades on their website and not their losses and the way they double up on their lot sizes to eradicate losses and how this will affect equity. This product is definitely not for serious forex traders, but for high risk gamblers.

 

[pipsbuster]

Megatroid has misrepresented their product insofar

It's you who misrepresented the product's name insofar.

Yes, it does take losses every once in a while that are later made up for by subsequent wins.

 

[Ken Long]

Megatroid has misrepresented their product insofar as it ignores basic money management principles and make use of doubling up on lot sizes to make up for any losses - a very dangerous and unacceptable practice in forex trading. It says they have not made a loss since March 2009. That is a gross misrepresentation! It is nothing more than a gambling tool and wiped out 10% of my equity in two trades. Furthermore, I have yet to get a sensible reply from their support team regarding risk management. Since I have installed the product on 21 July 2009 only 4 trades were made, 2 on Strategy 1 (showing <$5 profit) and 2 on Strategy 2 (showing losses). I will submit that Megatroid only shows their winning trades on their website and not their losses and the way they double up on their lot sizes to eradicate losses and how this will affect equity. This product is definitely not for serious forex traders, but for high risk gamblers.

All the misrepresentsaions and gambling stated here are on you. MegaDroid incurrs losses like any other good trading system, however its losses are very infrequent and well controled. The choice to double position size after a loss is yours, as is the choice to use a position size that is too large for your risk tolerance.

I run a generaly large position size on a very small account, and dont double after losses, as that would be too dangerous. However, if I was to put this bot on a larger account I would use a smaller position size, and possibly allow doubling, on the condition that I was able to monitor these trades. This is not neccessarily a bad strategy, it really depends on the size of your positions and the win/loss expectancy of the system.

As to the lack of recent trades, this has to be expected, it is summer. The robot needs a certain degree of volitility/range during its trading hours, in order for it to be able to easily capture its targeted gains. I have turned off the Aggressive Mode for the summer simply because the range is not there and its not worth the risk.

And, your statements about what trades they show on their web site only further supports their credability over yours. I havent looked at the web site recently, but I went over all their posted trades when the bot first came out. They do show losses, plenty of them, including several strings of consecutive losses. You can clearly see if they have the position doubling feature on or off following a loss, simply by examining the position size. Sometimes this doubling feature worked to their benefit, sometimes not. I would be very carefull about doubling into a string of losses, or during a time of year that is notoriously weak.

That said, this has little to do with real gambling. Its simply a device that can be used as you wish. The amount of risk you put on it, and what you expect from it are up to you. The sellers will always claim that their product is exceptional, and able to perform financial miracles. You had better be able to control your own risk and expectations or ultimately any system will fail you.

 

[LaurensDeGraff]

RE:MegaDroid Help

Dear Recruits,

Contact HQ for more information concerning your next duty assignment. You will be issued one high-tech weapon each to enhance your MegaDroid software program.

Never go into a gun fight with just a knife. Wouldn't it be smarter to use a bazooka from a distance?

Request reply from Rodrig_go@yahoo.com ASAP.

 

[rjvw1]

Dont cry if you did'nt do your homework

Megatroid has misrepresented their product insofar as it ignores basic money management principles and make use of doubling up on lot sizes to make up for any losses - a very dangerous and unacceptable practice in forex trading. It says they have not made a loss since March 2009. That is a gross misrepresentation! It is nothing more than a gambling tool and wiped out 10% of my equity in two trades. Furthermore, I have yet to get a sensible reply from their support team regarding risk management. Since I have installed the product on 21 July 2009 only 4 trades were made, 2 on Strategy 1 (showing <$5 profit) and 2 on Strategy 2 (showing losses). I will submit that Megatroid only shows their winning trades on their website and not their losses and the way they double up on their lot sizes to eradicate losses and how this will affect equity. This product is definitely not for serious forex traders, but for high risk gamblers.

If you dont know much about Forex trading dont tell everyone that on a forum. Forex trading is about results on a longer period. If you started using Megadroid when it was released, in other words, longer ago, this loss u refer to would be one loss in a very few. So it would be like a little dip in the road and you drive on. I can tell you so many things about Megadroid and Forex trading in general but I will try and keep it short. Megadroid gives you an advantage. I don't work for them but I tried it and I am using it. That means. Over a period it makes a profit and a nice one too. Then you can set a few things on it. % risk. Aggressiveness And also the "bad " recovery method you refer too. Now the only reason why a trader in person should never use "Ill get you back" strategy is because its an emotional thing. If you get upset like you got with Megadroid, then you the last person to ever trade that way. In other words to get more aggressive when you lose. It will hit your for a home run. Well that's one good thing you know about yourself. On the other hand. Megadroid is not a person. It's a robot and it has a proven system that has a certain chance of making a profit. And that chance is better than average. And it knows its limits and can only stick to them. We as people do not. We change all the time. So because of that it can wait for a chance and double up. Without emotions. And it gets back every cent every time. I have seen it. But it's also just a robot with parameters. If your set the parameters crazy it will trade crazy. And most likely drop off a cliff. So.... set the parameters the way you like it. Test and test and test them on demo. And then. All brokers have different quotes. One broker will trigger Megadroid and the next wouldn't. I have tested most. I have seen it myself. All depends on how you set up Megadroid on your specific platform.It's very specific. The pros that set it up on their platform are obviously knowing what they doing and you not yet. I have checked each trade they claim against mine. 100% the same. But I have to add. One of my better brokers did some extra trades with some better profits purely because of better spreads. Well I hope you get the picture. Robot or no robot. Basic forex rules stays the same. If this doesn't make it clear then go find out what are the rules. Maybe start at Babypips or such. For goodness sakes, don't try real money and think you going to make a quick buck. You going to cry like you are all the time and we don't want that. Forex trading is fun. Not a funeral. Start at the bottom and go from there. DO YOUR HOMEWORK FIRST. yes, before the exams. You failed because you didn't study. And you know why they maybe didn't reply? You asking them things which is either common sense or you didn't read the manual. You can set it to not be as aggressive as you claim it to be. They tested it on 30% risk. You should drop to less although I have it on 25% and I'm smiling. But 15% on another broker is suicide. You're still alive to try again. I hope. If you want.

 

[pipsbuster]

I was pleased to discover that MegaDroid fully recovered my account with ATCBrokers.com from the losing trade it took and moved on with profitable trades: MT4 Stats - Share your MetaTrader 4 Statements with the world . Weird enough, none of these trades took place on my FXCBS account, so I am now thinking of getting rid of it and keeping only the ATCBrokers one.

 

[lani shaw]

megadroid/clickbank ripoff

mega droid well i have tried to get them to return my money clickbank has no return on their home page looks like a scam to me megadroid will not respond back . i9m leary of clickbank also 60 day promise to return but how . lanishaw@sbcglobal.net

 

[lani shaw]

money back????

click bank Wwwclickbank.com - Personal banking Resources and Information.
add reciept number/order number/clickbank number. interchangable terms . contact support than click on refund options. also for the download option was sold by plimus.com . their number does not show up on the credit card bill. go to their web site find customer service (good luck) and do the same thing

 

[lani shaw]

megapro

if megadroid pro comes out they better get better customer service and an explanation of the settings/ and live acc. proof no hype pips out of your mouth not promises of grandguar?