Discuss Forex-MegaDroid.com

[Ken Long]

Last few sessions where MD traded it seemed like the market was moving against us....as in dealing desks hedging the MD positions. MD pulled out without a loss for me but largley break even.

Am I imaging this? IS this just the lack of summer liquidity? Thoughts all?

Thats an interesting idea, and certainly possible, except that the result seems to be consistant across several brokers that I use, both dealing desk, non dealing desk, and ECN STP, live and demo. So its more likely just the way the markets moving. Look at the way MD sizes up its trade. It measures the opening range like a day trader does, but only for its liitle microverse of the market, and tries to enter at either the next high or low extreme, counting on the market holding its range. If the market breaks out of that range, or doesnt follow through quickly enough, it changes its plan to breakeven.

 

[12bfree]

Manual trading

Hi guys,does any of you trade manually on the same live account as megadroid? I had been using megadroid's account for manual daytrading and i noticed that the EA had not been opening any single trade. Is the fluctuating account balance preventing it from trading?

 

[Dirk58]

gd day guys

Ken, I have a special question for you...

about leverage. How has different leverage say 1:50, 1:100 and 1:200 affect on lotsize when MD is trading?
Is it right that 1 lot is always $10? I think this is for 1:100.... so 1:50 should be 1 Lot= $5 and 1:200 1 Lot= $20?
Because I have a chance to introduce MD trading to people never traded and experienced forex traders so I think this is important to know about.

always good trading

 

[michaelwen]

Hi, Guys. MD open trade +8 pip today.
Dirk: thanks for the Ebook. when I look at first page, then I knew this system must works because that is what I am use in my trading now. MFT. like I told you before. I use 4 hour RSI give me the direction, and use one hour RSI give me entry. works great for me. ^_^
and Ken you are right . E wave is kind very subjective, I study it before , but never fully understand and make useful of it. hope other trader can make it works for their system.
good trade guys.........

 

[Dirk58]

hi Michael

ya, nice book and when you proceed reading this guy is nicely show how to use patterns the easy way using 'Fibo and E Waves too.

Great stuff.

always good trading

 

[tedstr]

Thats an interesting idea, and certainly possible, except that the result seems to be consistant across several brokers that I use, both dealing desk, non dealing desk, and ECN STP, live and demo. So its more likely just the way the markets moving. Look at the way MD sizes up its trade. It measures the opening range like a day trader does, but only for its liitle microverse of the market, and tries to enter at either the next high or low extreme, counting on the market holding its range. If the market breaks out of that range, or doesnt follow through quickly enough, it changes its plan to breakeven.

Agree but I believe about 80-90% of liquidity comes from just about 5-6 banks does it not? If too many positions open in one direction won't they all line up hedged against? Isnt this the problem with popular bots?

 

[lora]

I notice the MD price have been reduce from 149 to 97. anyone know what is happening here?

 

[Ken Long]

Ken, I have a special question for you...

about leverage. How has different leverage say 1:50, 1:100 and 1:200 affect on lotsize when MD is trading?
Is it right that 1 lot is always $10? I think this is for 1:100.... so 1:50 should be 1 Lot= $5 and 1:200 1 Lot= $20?
Because I have a chance to introduce MD trading to people never traded and experienced forex traders so I think this is important to know about.

always good trading

1 lot is always 1 lot. The different amounts of leverage just change the deposit needed to open a position, not the value of a pip. In USD based pairs 1 lot is equal to $100,000, at 100:1 leverage that will require a deposit of $1000, at 200:1 $500, at 50:1 $2000. These are only deposits to allow you to open a trade, in all these cases a pip is worth $10 for a full lot. Changing leverage doesnt change the value of the position, it only changes the deposit needed to open the position.

Changing position size from 1 lot to 1 mini lot will change the value of the position to $10,000 and the value of 1 pip to $1.

Also, changing the base currency from the USD to any other will change the value of the position. 1 lot on the EURUSD is not the same as 1 lot on the EURJPY or the EURGBP because the base currency the values are calculated in is different.


What is a Pip? What Other Forex Trading Terms Do I Need To Know?

Let’s assume we will be using a 100,000 unit (standard) lot size. We will now recalculate some examples to see how it affects the pip value.

USD/JPY at an exchange rate of 119.80
(.01 / 119.80) x 100,000 = $8.34 per pip

USD/CHF at an exchange rate of 1.4555
(.0001 / 1.4555) x 100,000 = $6.87 per pip

In cases where the US Dollar is not quoted first, the formula is slightly different.

EUR/USD at an exchange rate of 1.1930
(.0001 / 1.1930) X 100,000 = 8.38 x 1.1930 = $9.99734 rounded up will be $10 per pip

GBP/USD at an exchange rate or 1.8040
(.0001 / 1.8040) x 100,000 = 5.54 x 1.8040 = 9.99416 rounded up will be $10 per pip.


I hope this is what you where asking. I dont think changing leverage will affect MD's position sizing.
The link is to BabyPips the best learning site available for the money Read the bottom 2 sections on leverage and margin

 

[Dirk58]

Thanks Ken

absolutely clearly answered.....

Now I know what they mean by higher risk because if you have an small account with a high leverage you are able to trade higher lotsize.

And the BabyPips site is a very good one, I think there is always something to learn.

Next week I will know if and how everything will go for my introducing plans because these guys are back from vacation. If this one will proceed in my way it will change anything because the guys I´m talking about playin in a higher league..... so its very important to know the base things so
thanks again Ken, I learned much within this thread I can use for this one...

always good trading

 

[Dirk58]

and again....

it´s me, ya...........

found an interesting site, lot of stuff in. Perhaps within this forum some guys are developers you find there FREE EAs and tools and indicators you can finetune or develop for your purpose. I just downloaded the Forex Daily Impulse, perhaps a good one for the Daily chart. As I said, lot of free stuff, interesting should be the Forex Candle Stix too....

Have a look to forextoolshop.com and register for the free and perhaps useful stuff.........

and an free multi time frame trend indicator with pivot points 4 fun is here ... http://trendforex20.com/Crazypips.zip


always good trading