Forex MegaDroid

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Dugsey said:
All this hype about Megadroid, all very clever marketing, but having tested it on a demo account, I reckon its all a bit of a damp squid. In two weeks it only traded 7 times, one of which was a losing trade and made me a profit of £60.00 GBP on a £5000 GBP account. The losing trade wiped out 50% of my profit. I emailed support asking for the settings that they used to make their big profit, just got a brief reply telling me to risk 5-10% of my capital ! Seems they don't want to explain their profitable settings. It may be safe, but if it doesn't trade much its bound to be safe!

Think I'll ask for my money back.
Click to expand...

Exactly the same kind of response I got. That's why I asked for a refund!
 
Stu0898 said:
Exactly the same kind of response I got. That's why I asked for a refund!
Click to expand...

STU, as you have a refund in megadroid , i hope you don't mind me asking but what are you currently using to trade?

1. your own system developed over time?
2. any another system?

as i said i hope you don't mind i'm just curious
 
keithh said:
STU, as you have a refund in megadroid , i hope you don't mind me asking but what are you currently using to trade?

1. your own system developed over time?
2. any another system?

as i said i hope you don't mind i'm just curious
Click to expand...

Don't mind at all (it's actually nice to be asked!). Checking out EAs such as Megadroid and Maestro, is a really just a hobby, I'm very dubious about the claims that some of the sellers of these systems make, so I like to check them out and let others know my findings. I am developing my own robot based on my own trading method but this is just so I can leave my desk without missing trades...

I'm a full time trader, now living in the South of France. I trade commodities, forex and indices and the method I use is quite similar on all of them. I use a combination of different technical indicators, which have been chopped and changed over a long period of time to finally give me a reasonably profitable system that I have been trading for the last couple of years.

So far the development of automating this is proving slightly problematic, despite a long career in IT, I'm afraid my skills lie in network security rather than programming, so trying to get it to match what I do manually is very difficult but I am getting there and have started testing what I have so far on some demo accounts using some extreme settings to test the entry and exit logic works in any given circumstance.

As soon as I'm happy with the robot, I'm hoping to share it with anyone who is interested in having a look. Anyone who is interested then please PM me and I’ll reply when I have something ready to share.
 
Right...

Maestro is a copy of firebird. Which can be found here...

Semi automatic EA (Driven Version)

That is the best you will find for an ea. People are successfully using it with a bit of manual imput and people are always coming up with fully automated versions, not much sucess yet.

That thread, or one like it, will get you a profitable ea before anything you can buy. Maybe we can stop these threads now.
 
Hi this is my first post but has anyone thought about the S1 and S2 settings. They recommend NOT to use the default settings plus to change your random numbers often. I don't know if this affects anything but my first week which was part of a week I had a couple of profitable trades and this week, I didn't have any trades and everything appears to be in order so I have changed those S1 & S2 settings to see what will happen next week. Would appreciate any feedback. Thanks
 
An update from the Forex MegaDroid developers:

...Version 1.10 of Forex MegaDroid is ready for release - we are simply finishing the updates to the manual before making it available. We are working through the weekend so, if all goes to plan, you will be able to download it on Sunday or Monday. We will email you as soon as the files have been uploaded so you will not miss out.

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.

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 we have now implemented - our apologies for overlooking that issue in the initial release.

Finally, we have overcome the instances of "error 1000" for those who were experiencing it and we have removed some unnecessary settings from the Inputs list to reduce confusion.

Now, on to current issues...

If you have been experiencing minimal trades over the last week or so then there are several possible causes:

1) Your broker's pricing conditions (spread, server delay, quote quality) are not good. This can simply be a temporary situation but, if things do not improve then we suggest trying a different broker.

2) Be especially aware that the MegaDroid robot does NOT trade on Fridays, at weekends or on Monday mornings.

3) Check whether you have any error messages or warnings, either on the chart or on the Experts / Journal tabs - if so, please let the help- desk team know about it: Forex MegaDroid :: Support Ticket System

It is also very possible that the robot will not trade for 24-48 hours (or sometimes more), regardless of broker, due to non-condusive market conditions. We have seen such conditions over the last week with all of the very wild swings on EUR/USD as it tries to balance the market sentiment / trader mentality with fundamentals - very frustrating but an aspect of trading life that we have to accept at times. ...
Click to expand...
 
Stu0898 said:
Don't mind at all (it's actually nice to be asked!). Checking out EAs such as Megadroid and Maestro, is a really just a hobby, I'm very dubious about the claims that some of the sellers of these systems make, so I like to check them out and let others know my findings. I am developing my own robot based on my own trading method but this is just so I can leave my desk without missing trades...

I'm a full time trader, now living in the South of France. I trade commodities, forex and indices and the method I use is quite similar on all of them. I use a combination of different technical indicators, which have been chopped and changed over a long period of time to finally give me a reasonably profitable system that I have been trading for the last couple of years.

So far the development of automating this is proving slightly problematic, despite a long career in IT, I'm afraid my skills lie in network security rather than programming, so trying to get it to match what I do manually is very difficult but I am getting there and have started testing what I have so far on some demo accounts using some extreme settings to test the entry and exit logic works in any given circumstance.

As soon as I'm happy with the robot, I'm hoping to share it with anyone who is interested in having a look. Anyone who is interested then please PM me and I’ll reply when I have something ready to share.
Click to expand...

:cool: I tried to automate my method and came across similar issues, although I believe my system is simple to us trying to code it is another question, its like making a cup of tea or tying your shoe laces, you dont realise how in depth it is until you try to create it as a programme. I could never get round the if this or if that then base on what I see and then do this do that in the code so in the end I had to accept that i was not good enough to write the code.

The next problem was finding someone to write the code for me which was worse as they had no real concept of what was happening or really cared if it would work as all they saw was the pay check.

Still I would be interested in being a tester for you when you get that far.

I also originate from an IT background. (y)
 
I decided to give Forex MegaDroid the benefit of doubt and launched it off my VPS on four demo accounts - with IBFX, Forex.com, Alpari UK, and FXDD. My IBFX statement is streaming live through the MT4Stats website at MT4 Stats - Share your MetaTrader 4 Stats with the world

As you can see, the robot took two trades today on it and both closed in profit. I got the same results for the day on the other three brokers - two profitable trades on each. Tomorrow I will have the statements of my accounts with them streaming through MT4Stats as well, so that you would be able to check them regularly at any convenient time for you.
 
GammaJammer said:
So as far as I can see, unless I've totally misread the reports, the thing trades like twice a day for a whopping 10-15 points a time p+l

WHOOPEE F**KING DOOOOOOOO

And this is the mega robot trading toaster / teasmade thingy you guys are absolutely boring the @rse off us with?

Oh please.

Go home, do your own reasearch and actually LEARN something about trading, as even the guys that wrote this crapola couldn't be bothered to do that, and you're trusting them with your money? Jeez.
Click to expand...
If I may, what makes you stick to this thread if you aren't testing the robot and have no interest in it?

Also, it was my pleasure to see how you freaked out. I will now make sure to keep the forum members regularly posted on my further progress with the robot. ;)
 
GammaJammer said:
I am the voice of reason, and I have a particular dislike of scammers in all their forms, so when I have time, I like to devote some of it to hindering their activities where possible.
Click to expand...
The discussed robot comes with a 60-day unconditional full refund guarantee enforced by ClickBank. Please, tell us how you got scammed.
 
There does appear to be a total fascination from a large number of people over almost any of these trading robots.

The key consideration here is that to produce one of these does not require any trading capability or skill whatsoever. All that is needed is the ability to understand and write the code which any programmer can do.

As such GJ is totally right in what he says and for those of us who do trade we can tell almost immediately from the way trades are taken if a system being used has been written by a trader or otherwise.

Since the birth of MT4 we have seen a deluge of expert analyser systems and this is because before MT4 the only option for a similar approach was through Tradestation which was expensive. All these systems claim massive profits, all of them are marketed in the same way and so far I have yet to see any that have been written by genuine traders. The money back guarantee is irrelevant when you have lost thousands using it. Those who use Clickbank to market these know full well that many who purchase cannot be bothered to get a refund or forget even when dissatisfied with the product and they even rely on the apathy of people.

I wonder how many would still be able to use Clickbank if the deal was different and you had to prove to them the profitability of the system against the marketed claims for four weeks in realtime ?

I suspect none.


Paul
 
GammaJammer said:
you got scammed when a stranger you never met, and whose trading credentials cannot be checked sold you a black box system the methodology of which is totally opaque and claimed that this is what you need in lieu of actually learning anything about the market.
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And what is your business to what I do with my own money?

Trader333 said:
I wonder how many would still be able to use Clickbank if the deal was different and you had to prove to them the profitability of the system against the marketed claims for four weeks in realtime ?

I suspect none.
Click to expand...
The guarantee is nonetheless unconditional. What do you say now?
 
As I said it is irrelevant as it is factored into the strategy used by those marketing it. It does not give back any of the losses incurred as a result of using it.

This type of product is perfect for anyone with coding capability and the ability to market it which is why there are so many available. Has anyone ever seen live trading accounts of any of these ? and I mean live and not demo accounts which do not take the true Bid and Ask prices when the backtested results are shown and take the last traded price instead which hugely distorts the reality ?

I again suspect none.


Paul
 
Trader333 said:
As I said it is irrelevant as it is factored into the strategy used by those marketing it. It does not give back any of the losses incurred as a result of using it.
Click to expand...
And what losses did you incur?

Trader333 said:
This type of product is perfect for anyone with coding capability and the ability to market it which is why there are so many available. Has anyone ever seen live trading accounts of any of these ? and I mean live and not demo accounts which do not take the true Bid and Ask prices when the backtested results are shown and take the last traded price instead which hugely distorts the reality ?

I again suspect none.
Click to expand...
How hugely does it distort the reality? Any proof for such claims?
 
GammaJammer said:
Couldn't care less, but I'm more concerned the gullible will follow you. Plus no-one has been able to answer the two sensible questions I posted on this thread - they were simply ignored. Classic signs of a scam being virally marketed (along with the posters starting to get angry and defensive when confronted with thees sorts of questions).

If you can come up with some decent sensible answers to my questions I would respect it a whole lot more.
Click to expand...
For me to come up with sensible answers to questions, the questions themselves need to be sensible, which, regrettably, is not the case. Instead, you just keep trying to "save the gullible" from "getting scammed", even though I brought it to your attention that there is a 60-day unconditional full refund guarantee enforced by ClickBank.
 
The fact that this thing is called "forex Mega Droid" speaks volumes about its target audience.

Anyone who takes something named after a Power Ranger seriously deserves everything they get - what is it Arabian likes to say, "economic evolution".

Does anybody really believe that with the Billions of dollars invested in Black Box algo's and quantitative trading strategies developed by Physics and Comp Sci PhD's, something called "Forex MegaDroid" written for a 3rd party piece of software is really going to deliver? Jesus...
 
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