Average User
Rating: *****
Forex Megadroid
was promoted by Albert Perrie and John Grace in March
2009. There was a lot of hype around the original product . The
Megadroid uses a fairly new technique called RCPTA (Reverse Correlated
Price and Time Analysis) and it is guaranteed that every single
dollar you deposit into your Forex account will be at least quadrupled.
That's a heavy duty representation. I don't know if Megadroid
makes that much, but users acknowledge that the money management
is very good. Well, that's what Warren Buffett always says...
'don't lose any...
More on Megadroid...
What megadroid
touts as the most important and unique feature is the built in broker
non-detection feature.
Brokers trade
against their clients with things like high spreads, offquote
errors and slippage and they make it extremely difficult if they
know you are using a trading robot. Often refusing to handle
your account. Forex Megadroid is the first ever to be released
with a non-detection or anti-broker mechanism trading at odd
times and sporadically so that a broker will not be aware of
your trading methods. careful of this as I have read reviews
from users that say this is debatable.
One user of
the software says: I've tested a lot of EAs, and quite simply,
if the backtests I've done are anything to go by, Megadroid is
the best I've seen so far. If the robot continues to perform
for the next 10 years as it has over the past 10 years in testing,
I estimate that it could theoretically make a million dollars
in 6 years time from a small $1000 account. The drawdown is less
than 30% too, quite amazing for a robot.
Forex Megadroid
UPDATE...
Version 1.10 of Forex MegaDroid is ready for release - they are
simply finishing the updates to the manual before making it available.
From a user
perspective, the new version will be highly informative - the
old "Waiting" & "Running" messages have
been replaced by a whole sequence of comments which explain what
is happening as the robot is running. That's Great!
In addition,
users who have accounts with ECN brokers will find that the robot
is now able to place trades... unfortunately, connecting with
ECN brokers requires significantly different logic in the trade
placement code which have now been implemented.
Finally,
the instances of "error 1000" for those who were experiencing
it have been overcome some unnecessary settings from the Inputs
list have been removed.
Forex Megadroid
works under any market conditions with a 95% success rate as
advertised by Grace and Perrie. So far it has handled demo accounts
that we have set up with smooth and grace. I'll let you know
as time goes by, but for now all is well. It is certainly worth
the investment and highly recommended. The other thing about
Megadroid is... It's rather inexpensive. $97. Now if it can make
you retire at an early age, that's downright CHEAP.
FROM THE
BLOGS
A trader posted:
A couple of weeks ago, I was running 7 copies of Megadroid. They
all opened at about the same time, and all should have closed
at the same time. However, 2 of them did not. I closed them manually
at a loss of 5 pips each. I am sure they were on their way to
59 pip losses. So the question is why did they not close
on time? I was running a tight slippage of 3 pips. If the robot
tries to close, but the price has moved past 3 pips it will not
close, but it will get a requote error from the broker. For this
reason I am recommending a rather large slippage setting, if
your robot is not closing on time.
One point to
think about is that the brokers may get after you if you are
are trading a large account and winning. Hence, my friend had
it figured out and was trading 7 different accounts with fewer
dollars per account.
This brings us to the question of how do brokers deal with winning
robots? They have 3 methods which they used on Fapturbo:
1. They raised the spreads during the hours Fapturbo traded.
2. Traders got mysterious disconnections in the middle of a trade
when trading large lot sizes. When they complained, the brokers
just said we are sorry you have such a poor internet connection.
3. They give various error messages to keep the robot from closing
the trade, such as requotes, misquotes, and a few others until
the trade is in a loosing position. So if you are trading large
lot sizes, like one full lot or more; be prepared to close the
trade manually, or phone your broker and close the trade.
These comments
should tell you a lot. And this info should help you in your
trading.
Something
to consider...
A post in
the Forum...
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