Discuss Forex-MegaDroid.com

[Ricex]

Many people like to ask about the numbers of pips, without realizing that its pretty meaningless

When it comes to this kind of EA pips are not important as $ & % because the EA does full money management.

I see, thanks for the enlightenment. These robots are a mystery to me but your testing seems to be showing good results. I trade with very low leverage so these type of systems would scare the hell outta me, especially the doubling of position size to claw back losses...... nightmare

 

[rjvw1]

Scary Trades

Yes, I fully agree that anything unknown could be scary. You trade with very low leverage? Well that's the fantastic part. You can set Megadroid even lower than you think. Every parameter is configurable. And then you sit back and see it fly. You do not have to set it on recovery. You do not have to set it at 60% risk. you do not have to start it at 100 full lots. Set it just the way you like. But I can tell you that if you set it less than average risk you wasting money because it would make the trades in any case so why leave money on the table when you could have taken it? Get to know Megadroid and you will love it. When you trade manually pips are very important because you need to calculate risk and from that work out exposure and see from there how many pips you need to make to get to the profit level you calculated in the first place. So in order to make profit you then need to get that certain amount of pips and then pips are very important. Robots do the same but its just all automatic after you set the risk. It's calculated continuously and all you see is a % gain. The pips are there but meaningless yes to the EA in a sense although it would also aim for pips but the lots change all the time depending on the market conditions etc. . On the one trade the EA may place 2 lots and make 3 pips. On the next trade place only 0.2 lots and make the same trade but it did that because of higer risk in order to protect your money. So whats the difference? It minimize risk better than you can ever dream. And btw. Megadroid did recover from each trade on back tests during the past 10 years. I have back tested all of the best robots and none of them could do what Megadroid did. The main reason we should never double up like Megadroid does is because we have emotions. Megadroid is playing the odds that is with him with military precision at that specific moment. So he knows he will eventually win or hit a SL that is fixed. And he will come back and recover and does. But the main rule here. Every forex method is not common and acceptable for everyone out there. So if you do not like a certain style then do not do it. Another problem is that many would put their life savings on an EA hoping to get rich overnight. That's crazy and it would be scary. Start with a demo. Play around. Do some crazy settings. Back test. Find weak points. Concentrate on bad patches and try various settings. That way you will get more and more confidence because you know how this great EA operates. If you set your risk at say 0.2, you have layers of protection. O.25 is just nice for me. Below that I found a waste of profit. 0.3 and up risky. Then start with a small amount and build it up. If you lose some,so what? Try all and stick to what works for you.

 

[Ricex]

Thanks for the info.
I am alas rather old school and have my old school ways of trading these markets which have never the less served me pretty well over the years.

I wish you success with your robots, I hope they continue to churn out the money.

 

[Ken Long]

What I meant about the number of pips being meaningless has less to do with this robot and more to do with trading in general. The number of pips or points are relative to the time frame, and not the profits. I could capture 20 pips off the 15M chart or 200 pips of the daily and make the same profit, with the same risk on both, simply by varying my position size accordingly.

This robot, or any robot, can trade with any leverage level. Leverage has little to do with actual risk and only controls the amount of money needed as a deposit on the position. With high leverage our money simply sits in cash instead. The problems occur when we use that leverage to take on extra risk, simply because we can.

This robot is very accurate, but its still necessary to control or at least accept the risk involved. If you run a 0.2 risk setting and the robot takes on two trades at once you are risking 40% of your account, a little less because each new trade is based on a percentage of the free margin available. As long as you can accept this amount of risk and have enough margin to cover any drawdowns your fine. I think I would have trouble accepting that level of risk on any large account. I run MegaDroid on a 0.2 risk setting, but the entire account is just a small risk to me. My main concern is having enough margin, and the total collective risk involved with running several robots, and having several trades open at once.

 

[nkg0319]

Newbie here

I just purchase the Droid this morning, and now I'm concerned because in the Peace Army reviews, there were so many negative reviews. Is it really that bad? I started a demo with their recommended broker FM, so I'm not risking real $ yet. But I am concerned, none the less. It would be reassuring if some of you let me know that this bot is for real. I'm not expecting any fortunes made overnight here, but am looking for steady positive gain, however minutely, over the long haul. Anyone out there with longer history than a few months with this bot?
Thanks for sharing your thoughts,
NKG

 

[rjvw1]

Bad Reports

A few very happy people bought MegaDroid right at the start. Some of them post here and you can go and check their live records. Its fantastic so don't worry. Then it became a more known EA and it was posted here on FPA. At that point FPA started to test it and there was a problem with the test itself. It didn't trade for some time because of wrong settings and its still reflected in the current test. So the % looks worse than it is in real. And Murphy's law, right at that moment MegaDroid made one of its few very big losses. And all hell broke lose. That's where all the negative reports came from. I started trading with it about a week before that loss beginning August. So I had some profit before hitting the big losses. So I recovered quicker but it still took some time. People that got in on the loss are maybe still trying to recover 3 months later. The thing about trading is that its a long term project. These people just hit one bad luck spot and gave up right away. Some pick the wrong broker or settings. Go see the guy that trade here on this forum. I get the same trades and I can assure it its for real. Why I didn't worry about that big loss at all is because I tested this robot thoroughly at first with all kinds of settings and a loss is kinda good because it makes it more aggressive. Some people hate that but I like it. Just fun to see the recovery. Yes demo it at first. Very important. It does not run well on just any broker. ATC seems to work well. Alpari ok. I run it on The Collective and its also great. Bottom line. If you run it over a 2 year period , you will be very happy with the results. One month hitting a bad patch is part of trading, so get over it and carry on. I don't work for MegaDroid and the only connection I have is that I trade it and love it. Some people like to cruise around in first gear down the highway, avoiding any conflict. MegaDroid can be a racing car. The ride can be quick and scary at times. But I found the tyres to be very wide and the further you go the more you trust them to take you around all those tricky bends, sometimes at a scary pace.

 

[Ricex]

I could capture 20 pips off the 15M chart or 200 pips of the daily and make the same profit, with the same risk on both, simply by varying my position size accordingly.

I think most people understand this, but the robot seems to favour 20pips with max leverage as opposed to 200 pips with a much more reasonable level of leverage, a serious scalping machine. I could not risk the amount of money needed to allow this robot to do it's thing, these figures of 60 and 40% risk are just incredible, even 10% is to much for me, but your faith in it's abilities are clear enough.

 

[pipsbuster]

Another day, another win: System ATC_MD | Myfxbook

 

[Ken Long]

I just purchase the Droid this morning, and now I'm concerned because in the Peace Army reviews, there were so many negative reviews. Is it really that bad? I started a demo with their recommended broker FM, so I'm not risking real $ yet. But I am concerned, none the less. It would be reassuring if some of you let me know that this bot is for real. I'm not expecting any fortunes made overnight here, but am looking for steady positive gain, however minutely, over the long haul. Anyone out there with longer history than a few months with this bot?
Thanks for sharing your thoughts,
NKG

This is one of the most accurate trading robots I've seen, but it doesnt make money quickly enough to please everyone. This has a lot to do with how these things are marketed. They all claim instant riches, but they cant do this without incredible risks. Other than that the reviews are full of whiners and complainers who like to hear themselves, misery loves company, its a choice we make. When you read them always consider who is writing them.

 

[Ken Long]

I think most people understand this, but the robot seems to favour 20pips with max leverage as opposed to 200 pips with a much more reasonable level of leverage, a serious scalping machine. I could not risk the amount of money needed to allow this robot to do it's thing, these figures of 60 and 40% risk are just incredible, even 10% is to much for me, but your faith in it's abilities are clear enough.

You seem to understand this, but I wouldnt say most people do. Unless a person trades multiple time frames they tend to equate the gains to a certain number of pips. Many people think a 200 pip stop is an incredible amount of risk, or that a 20 pip gain is small, but it is all relative to the time frame. Very few people seem to realize that the markets are identical on many time frames, and that the same profit can be made in 2 hrs or 2 weeks.

As far as this robot, its a night scalping machine. It trades the eurusd for either 10 or 15 pips during the slow period after the US markets close and before the Asian markets open. It doesnt need max leverage or max risk, by default it trades with a 5% risk, and can trade equaly well with 1%. The only reason to run a higher risk is to get a larger gain. Its all up to what one considers reasonable. 40-60% risk might be reasonable when the entire account is an acceptable risk, but overall this is a problem with most scalping strategies, and all scalping robots. The risk is considerably higher than the gain, and to make a large amount of profit you need to take on a larger amount of risk, or settle for a smaller profit. Considering the robots high win to loss ratio I would say this is a reasonably workable situation, with many interesting solutions. Even running on a smaller account with a reasonable amount of risk this robot is capable of paying for itself and showing a profit over time, at that point its a lot easier to let it risk more of the money its already made.