Megadroid EA - Anyone heard of it?

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I've heard a lot of hullabaloo about this EA...it's super profitable...correct 95% of the time...yadda yadda.

It costs $97 to buy it. Has anyone ever had any experience or used Megadroid before? Thanks!

 
Calpurnia wrote >>

I've heard a lot of hullabaloo about this EA...it's super profitable...correct 95% of the time...yadda yadda.

It costs $97 to buy it. Has anyone ever had any experience or used Megadroid before? Thanks!

I do, I use it. It has been with me for quite a while. few months. It trades only once in a while. Never looses. Goes for very few pips, usually 10 pips and it has been trading a bit more latelly but only trades once a day ever three of 4 days, if you are luck. In June it only performed 5 trades.

When you contact them and ask them why it is not trading, they will tell you due to market conditions. When you tell them, it has been promoted as able to handle all market conditions they will not respond to that.

The software is good, but once it goes live and many people use it, the value and effectivity of the robot goes dramatically down.

Expect less that 50 pips a month with it. Unless you have a huge account and 50 pips is enough to make a living, don't expect a lot more. The good thing as I said is, it never looses a trade.

 
Pipero wrote >>

I do, I use it. It has been with me for quite a while. few months. It trades only once in a while. Never looses. Goes for very few pips, usually 10 pips and it has been trading a bit more latelly but only trades once a day ever three of 4 days, if you are luck. In June it only performed 5 trades.

When you contact them and ask them why it is not trading, they will tell you due to market conditions. When you tell them, it has been promoted as able to handle all market conditions they will not respond to that.

The software is good, but once it goes live and many people use it, the value and effectivity of the robot goes dramatically down.

Expect less that 50 pips a month with it. Unless you have a huge account and 50 pips is enough to make a living, don't expect a lot more. The good thing as I said is, it never looses a trade.

you obviously have not had it set the SL so far removed from reality that it almost wipes you out!

hang in there... your day will come!

and it does loose trades.

a "few months" is way short, give it time - you'll learn to stop loving it.

 

That's what i figured they were doing to get 95% of their trades "right". Mathematically speaking, you could have a bot that was right 50% of the time, and set the TP at 5 and SL at 100, and get those results with pretty much anything.

Glad I didn't buy the snake oil :)

 
Calpurnia wrote >>

That's what i figured they were doing to get 95% of their trades "right". Mathematically speaking, you could have a bot that was right 50% of the time, and set the TP at 5 and SL at 100, and get those results with pretty much anything.

Glad I didn't buy the snake oil :)

Not meant to slag too much, but honestly... I nearly had the proverbial seizure on waking up one morning and seeing this craaaazy SL. I manually closed and then removed the damn chart.

Above is exactely what happened with FapTurbo. The shitty EA not have sense to see that biggie SL having price close down on it like a wire guided torpedo!!

I shouted until blue on their forum... of course waste of time. It was really good at loosing money. Sure, some made loads and also lost too.

Enevitable with J.U.N.K

Their idea of MM was say double digit risk %'s. Plenty of sad stories on their site but still they and others 'held the faith' lol

MegaDroid was very good at milking a few points but my 'Waterloo' came as described and that was the end... of it.

 

I bought this expert advisor and back tested it. Backtested results are good actually. I modified the settings to check how it is working and for some of the settings it is working good. Check my back tested results at

http://www.forexbees.com/forex-megadroid-expert-adviser-real-review/

http://www.forexbees.com/forex-megadroid-expert-advisor-real-review-with-changed-settings/

I am going to change the settings again and will post more reviews about this EA.

 

Every few months I come close to buying an EA, then I see a bad review or that it's not doing as well as it was a few months ago on a review site.

I think I'm settling that it's just best to make my own EA's that will do what I want them to do.

 
Calpurnia wrote >>

I've heard a lot of hullabaloo about this EA...it's super profitable...correct 95% of the time...yadda yadda.

It is spread and spike sensitive so its record varies with broker used - not a fault of the brokers just characteristics of the feed type (DD, STP or ECN)

Many of the more straight-through brokers offer worse spreads during quiet hours, which reduces the profits

Also, during most periods, the relatively big SL eats most/all remaining profit

There is even a mini-industry around it with people selling settings advice?!!

Snag with that is the broker-specificity of the whole thing...

Its a reaction trading EA, so with daily ATR dropping since Q4 2008, so has its activity

Been particularly quiet after Q2 2009 as world trade has dropped further and action/reaction reduced even more

FWIW

-BB-

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