UPDATE:
Forex Megadroid’s price is going up to US $149 on Friday, January 22nd, 2010 – Get it before the price goes up!
UPDATE: I just bought this forex robot (here is the “official announcement”) and I’ve also just published the first performance testing results update over here.
UPDATE: For the second performance update go here now!
Have any of you guys heard much about this Forex MegaDroid forex robot? I’ve been receiving e-mails from the usual promoters promising the moon with this forex robot. For example:
Today you’re about to learn WHY a Forex robot can actually see into the
immediate future with an unheard of accuracy rate: 95.82%
The developers of Forex MegaDroid have taken it upon themselves to
push things further… much further …and they’ve certainly achieved their
objective:
==> Over l00% Net proflt per month, every month… complete autopilot
robot trading.
The supposed developers are two guys by the name of Albert Perrie and John Grace. I’ve never heard of these people and I wonder if they’re even real persons or just aliases.
The robot itself is said to be based on some RCPTA technology. I have no clue as to what this RCPTA tech is – do you? If so let me know.
UPDATE: I found out at least what RCPTA means. It’s actually called Reverse Correlated Time And Price Analysis (RCTPA) theory. What it DOES I’m not sure yet, but will soon find out.
I signed up for their “early bird” VIP mailig list so I will post more details about this forex robot as I receive them.
Until next time,
Happy trading!
can i ask spencer, for his returns, how many have gone to each account and were the times of action similar
looks like im back to chewing the cud, over the weekend, but i suspect i will lose patience and take the money, for i dont think im making my fortune here.
i have given up approaching customer disservice, for i am becoming tired of seeing igors balance sheet on every website i visit. maybe igor knows the secret….maybe igor is really customer dissservice…….matbe igor is the brains behind the monster we know as forex megadroid
i said a month, so ill give it a month
the rolling stones knew the answer…..
‘time waits for no one,’but it took the billionaire beatles to tell us ‘the best things in life are free…….’
Hi everybody. I bought Megadroid on ‘April Fool’day i.e. 1st April. Installed it into My real Micro Account; FxOpen by the same day.
So far i only had a 2 buy trade(7-4-09)(both @ 7 pips gain)during Asian Session. It’s lucky for me that i’m able to Manually close the second trade before the Market reversed my position and that move surely hit EA Stop Loss which Risk to Reward ratio is bad in my opinion.Stop Loss @ 45 pips for 40,000 lot or USD 4 per pips. If not my real account surely had a Called Margin. Perrgh.
So now i’m going to return and claim back my money. I do not run this EA after that incident no more.
ten out of ten winners for me so far with this (over the past two weeks). Hope it isn’t like fapturbo for me, which lulled me with a string of tiny wins then hit me with a big loss. My broker is Alpari UK
My Megadroid has not traded my demo account since April 9th. Had three winning trades that day. Two winning trades on April 8th. and one winning trade on April 7th. None since.
On my live account I had one losing trade on April 10th which is the day after I set it up. Nothing since. Live account is with FXDD. Demo account was downloaded from ForexMeta.
Has anyone experimented with different settings?
what will happen when the new rules come into effect. the one FIFO is one to worry about with this ea, since there are times that the first in is not always first out.
I am trading this one on my FXDD live account and won back my losses on FabTurbo ! 6 trades 6 wins so far. Today I have changed the settings to LotSize 1.0 and Risk 0.5
To everybody that made no trades : check if Live trading is checked, also in the FXMETA software. Last week I had the ‘problem’ after a power outage at my house that the robot settings were ok, but METAtrader had unchecked the Live trading box (tools/options) so it did nothing at that point. BTW the new rule does not affect Megadroid, it only says if you have 2 trades open it will first close the first trade and then the second, well Megadroid only trades EUR/USD one trade at a time so no worries there.
So far I had had 5 trades 4 of them showed a profit and one hit the stop loss. that one loss took all the profits of the 4 trades and more. I emailed megadroids support to see if they could adjust the robot so that it could try to get mor profits fro the good trades not scalp 7 to 10 pips on winning trades butto get more and I wonder If these support know what they are talking about the keep on parroting the ebook thir product support is horriable I am about ready to ask for a refund
Well, purchased this droid and had it running by Thursday, May 28. Not a trade yet, but it does only trade a few trades a week… (or none at all). I figure 60 days is a good evaluation if it’s worth it, or if I should be doing something else with the $1,000 that I deposited.
Well, I lied…on the 28th it traded at 1.3810 I believe (off the top of my head), but it freaked and sold at only a 1.50 profit. Couldn’t it have waited a bit for it to jump to 1.42 to sell? Sigh.
I have a forex blog about MEgaDroid. And you can read there that I have a lot of trades, but on different broker.
The best ones are FxPro and IBFX.
My blog is forexspy.net
Dan, what broker do you have it running on? I heard that FXDD and Alpari are good brokers to use for this EA.
I purchased Megadroid 7 weeks ago, I have set up demo accounts on three different PC’s with different settings and amounts. So far over 25 trades….all winners. I see some are not having lucj with this EA. I know I like to mess with settings to see if I can enhance results. Be careful and only chnage one thing at a time and take notes. Most likely bad results are from a change you made. I see Megadroid likes to get in and made 10 pips and get out. With $500 and some risk factor changes, you can have it up to $2,000 in a month.
I am setting up a live account today with FXDD with $500 to test my demo results. I will try to post updates weekly.
Intrsting Backdating
Similar with the rest of the blogs on here, my backtesting showed similar results for Jan 1st to today
1. Over 80% success
2. Huge Losses as high as $1,600 USD with an opening balance of only 10k
3. With an opening balance of 10K, soon went to 12k, only then to be erroded away to as little as 4k to then close with a balance of 8k (2k down over a 6 month period)
On the back of this testing, which I am very glad I carried out, anybody with any revised settings so the potential stop losses would be similar to average gains ?
In fairness, the last 6 months have seen some tremendous swings in market sentiment, and I hope that with some mothering / supervision the megadroid has potential. On a regualr basis the long/short setting needs to be adjusted to avoid droid errors, and on this basis I have some confidence.
I antiicipate that other users have the same issues, so anybody with a revised setting list that should overcome the problems I have seen during back-testing ?
Cheers, Neil, Manchester
I am running Megadroid v1.11 and I could not get the thing to back test. Followed the instructions word for word, but nothing.
I did get a live account set up, however the demo on another PC went into a trade, but my live account did not. My broker is FXDD, I wonder if something is set up wrong. Anybody no the issue here?
I notice that ForexMeta has an offer to set up your robot “professionally” for $67. Strange that my demo still trades, but my libe account doesn’t. Could somebody make it so that I need to pay $67 to make my Megadroid work? I hope not that would be low.
Wow, Megadroid hasn’t traded since Monday 6-23. I wrote them and they said it’s very picky as to not waste your money. Their web site says it can function in all market conditions….so which is it? When it does trade it has been right on, but the long dry spells between are making it hard to depend on it for steady income.
Wednesday July 1 or GMT time July 2nd I had my first LIVE trade fire off. My demo on another fired off forst, but not the live…server difference. I did enter into a trade about 2 minutes later in a better position thought. Made 10 pips and it exited. Glad it works.
However megadroid had only traded once each week for 2 weeks. Strange the ad says it trades in all types of market conditions. Hmmmm. When it does trade, it trades well. I’m sticking with it.
Am I the only one on this blog? It says “Alan’s bolg”. Not mine.
loool…Keith I’m here too 🙂 worry not, it’s just that I don’t have that much time lately to do much posting or commenting – that and I do not own Forex Megadroid.
Btw, if you get lonely here visit the Forex Megadroid thread over at Forex Nirvana:
http://www.forexnirvana.com/f19/forex-megadroid-421/
Have you guys noticed how NO ONE here is actually giving their settings out?
What ever happened to the spirit of sharing?
this is a 3 trillion dollar a day market, no one is going to notice even if there are 100,000 people using droid.
So start giving us your settings and experiences with said settings so we can all compare notes and learn from each other.
Dan,
I have played with Megadroid extensively for over 10 weeks on demo accounts, using various dollars and risk factors. The gains were amazing. I saw 27% growth in one week on a $500 account. I left the lots set at 0.1 and changed the risk factor to 0.9…that’s 90% of my money available for investment. The program will automatically scale the lot sizes starting around 0.19 and increasing gradually as the accout grows. you can scale back once the account hits $1,500 as you don’t always want to hand it all out there.
Now that I have gone Live, Megadroid has done hardly any trading…twice in three weeks. the ad says performs in all markets…bull.
I notice no one shares their settings either. I just finally have some to share. maybe others are embarassed…I know some are shaking their head and saying that I am putting to much out there at that risk level. i have seen 48 demo trades, all with profit, so I have the trust…now if it just traded.
Megadroid says the market is to unstable to trade right now and to be patient. Others are making money and thsi is supposed to be the best…frustrating.
Well, Megadroid has only traded a couple of times since my last post. Actually it fired off three times one day. All this week…nothing. I have been bugging them about revising the bot to perform better. They said they are coing out with a version before August, mostly to handle new rules from NFA regulators. Bullsh*t they don’t keep the bot tuned.
They are coming out with Megadroid Premium or something like that. Crapy part is that we owners of Megadroid have to pay to buy the ungraded bot. So now you know what they have been doing instead of tuning their bot. I afraid they have taken the money and want to take more. While we have not been making money. I mentioned the lack of trading to them and got a reply that the market is to bumpy and I should be glad Megadroid is not losing my money. Bull crap, busy working on new bot to take more money. We should be getting the upgrade free. So much for customer support.
The Megadroid guys told me they are buying a copy of FAP Turbo Evolution. Can’t believe they support the competition. Now FAP Turbo Evo is chumy with Megadroid and they are offering both softwares together…..weird.
Still don’t like lame excuses and poor customer loyalty. We’ll see how the next version does. Hope the NFA hasn’t screwed us to much.
Well, this blog seems dead, no other posters, no sharing, just me. This is my last entry.
Sorry about that Keith. It does seem that not too many people are commenting on this post. I think though a better place to discuss forex megadroid would be this thread on the forex nirvana forum:
http://www.forexnirvana.com/f19/forex-megadroid-421/
I bought Megadroid a couple months ago and have been doing some testing on a demo account and some very conservative trading on a live account. I too have found that the droid won’t trade very often, so what I found I can do to get around that is to change the GMT offset value. The droid seems to trade during a specific period of time, so adjusting that period via the GMT offset seems to make it trade more often. I will open a trade window and use the default GMT, then another window with a default-2 setting, another with a default+4 setting, etc. Of course, I turn off the autoGMT setting for each window. The other windows trade MUCH more often than the default. Has anyone else used that approach?
That may not be such a good idea. There is a reason it trades during a particular “time window” and if you force it to trade outside that it may negatively affect performance.
I don’t see why people are in such a rush to get more trades – more trades not not necessarily equal better performance.
Granted, and I understand that. However there has been a lot of comments about the lack of trading that the droid does with the default settings and I simply offer this as a possibility. In one week, for example, my live account running the default GMT earned a paltry 11.00 with one trade. During the same period the demo account running 3 modified GMT settings made over 300.00 with 12 trades, one of which was a loser. But, the losing trade was made up by the recovery mode the next day. That’s an 83% success rate on the demo account, which isn’t all that bad. At this point, I see no compelling reason not to move a few of these over to the live account. But I can be talked out of it! 😉
Well Dennis I won’t talk you out of it – it’s your money after all. But I would suggest you use other people as a sort of sounding board to see if anyone else has tried this and if so how the experience went.
I suggest visiting the Megadroid forum link below:
http://www.forexnirvana.com/f19/forex-megadroid-421/
megadroid is great. i use it with Fxopen broker . my normaly week earning $ 100 – 250
Good stuff. I’m not sure if you saw this but I posted the first performance result over here:
http://alansforexblog.com/2009/10/22/forex-megadroid-performance-update-1/
Do you have megadroid set on aggressive though?
I have trade with megadroid at fx open with real money for the past 2 weeks. It only have 2 trades so far. Both profits of $3 and $1, with a $200 account. Can anyone give me the correct settings to make more profits?
@ Herman what broker are you using? Is “Aggressive Mode” turned on?
to the rest..here is my second performance update:
http://alansforexblog.com/2010/01/07/forex-megadroid-performance-update-2/
so far so good..MD is making $
I’ve been using Megadroid on a demo acount for about 3 months and it really has been ‘that’ accurate in its trades. However, I just switched over to a live account and it seems to be making no trades this week which could have something to do with the volatility of the euro/usd pair. It only trades this pair. I ran it with a demo account with remote safety turned off. It had about 25 consecutive winning trades, some with larger gains than others. If it works as well on a live account where the spread is a little wider I will be very pleased. I haven’t seen it make little more than 17 percent gains over the course of one month, maybe a little better, but it was fairly consistent when I was running it.
Which broker are you using MD on? (live) This EA is very sensitive to spread, and if it exceeds a certain amount it will not trade. I recommend you use scalpers on only brokers with really low (ECN/STP) spread.
For example checkout this statement:
http://www.myfxbook.com/members/fxguru/forex-demolition-live-mb-trading/76744
It’s not Megadroid but a similar scalper EA that a buddy of mine coded. This kind of day to day accuracy is only possible with a super low spread on eur/usd. This EA takes a 5 pip TP which with a dealing desk or crap broker would not be possible. Worst off some brokers artificially increase the spread during the Asian session – when Megadroid and the EA I posted above trade.
Bottom line is if you’ve made sure your settings are correct and there aren’t any errors in your “Journal” and “Experts” tab then most likely the broker is to blame if it does not trade (ie spread is too high during Asian trading session)
Just my 2 cents.
Best of luck with your trading Nathan.
Btw, drop on by the Forex Nirvana forum. We could use a lot more Canadian traders 🙂
Cheers,
Alan
errr..forgot the link to the forum..it’s http://www.forexnirvana.com