Forex Megadroid EA Settings and Real Time Live Trade Analysis

[pharoh777]

Here are the settings I used to achieve the performance reviewed here: Forex Megadroid Review and Performance

I will attempt to explain my reasoning for each setting I use if I have changed it or if I chose not to change something for a specific reason. There are not really too many settings with this particular EA, but this is the format I will be using for all EAs in the "portfolio" section of my corner of the forum. After initial settings are listed here, then I will open the thread up to discuss real-time performance so we can all get on the same page (the most profitable one hopefully!).


Forex Megadroid Version 1.38

Stealth: TRUE Keeps the true s/l and t/p hidden. (Couldn't see why not to use this)Aggressive: TRUE Two positions can be opened instead of one (doesn't happen often).
NFA: FALSE I'm doing my best to avoid stupid NFA rules and I have broker that isn't restricted
Both GMT Offset Settings: TRUE (more chance I'll make a mistake than the EA)
Remote Safety Mode: TRUE Enables remote shutdown of EA during "wacky" conditions (seemed safer)
Slippage: 3 (default)
Risk Level: 0.05 This Equals 5% risk. For me, 5% is a lot to risk so this may seem conservative to some. Like I said in review, larger losses are harder to recover from and I never want to see this program knock more than 5% from my account even though that means my wins will be smaller.
Recovery Mode (martingale mode): TRUE What happens here, is that when you do invariably lose, the next trades will be twice (only doubles once per LOSS) as large until loss is recovered. BUT, start your MT4 over and this effect is lost. So, if you ever restart your MT4 or turn it off Friday and wait till Euro session Monday (what I do) to turn it on, the effect is lost. So with my trading, if I ever get a loss, it's usually the next trade is double the size (assuming I get another trade in the same week) and then the next week, it's business as usual. Wait, didn't I just write an article AGAINST martingale trading? Yes I did. The reason I am OK with this being true is that: 1) Megadroid doesn't trade often 2) Megadroid loses VERY rarely. I'll take my chances since I know that the percentages tell me that two losses in a row is a extremely rare occurrence with this EA and I don't use a very high risk %, so I am comfortable with this risk. I honestly think anyone setting this to false will be in a safer position overall and won't really affect the performance of the EA too much.

Oh and in case you haven't bought the EA and would like to do so (again, make your OWN decision based on the information provided from multiple sources), please do so through our forum link here: Forex Megadroid. Again, I am not personally an affiliate of ANY EA vendor that I review here, but purchasing through our link does help support this site so we can bring you the best reviews, honest forex education and advice; as well as top-notch customer service (that alone has kept me a paying subscriber to Forex Mentor Pro since the beginning).

I hope this was helpful and useful. We will begin tracking 2012 performance as soon as I get my first Megadroid trade of the year (just got it on a new account since I got booted from my old one for being a US client). Also any discussion and respectful debate is welcome for all issues covered in this thread. Happy Trading!!!

Kindest Regards,
Omar

[pharoh777]

Megadroid Live Performance Update for 1/17/2012:

Megadroid took it's first trades of the year today and it traded both strategies. Both trades taken 1/17/2012

Trade 1: +4.8 Pips
Trade 2: +10.2 Pips

Total Gain For Week: +15 pips and +0.52%
Total Gain for 2012 in Pips: +15
Total Gain for 2012 in %: +0.52%

Off to an early start this week and two trades to boot. Looks like this might be a very good week for trading in general according to my old "megadroid theory".

[capsmart]

I think the bank holiday created a calm market suitable for megadroid.

[pharoh777]

That makes perfect sense! I concur. Not total loss of volume, just enough to calm things down a bit.

[pharoh777]

Megadroid Live Performance Update for 1/18/2012:

Trade taken 1/18/2012

Trade: +2.7 Pips

Total Gain For Week: +17.7 pips and +0.56%
Total Gain for 2012 in Pips: +17.7
Total Gain for 2012 in %: +0.56%

This seems to be a perfectly normal week for this EA so far

[nigel lane]

Hi Omar ....new to the forum / website ......what has been the most successful robot insatlled to date please
best Nigel

[pharoh777]

Hi Nigel!

That depends on how you determine success. Megadroid has been the most consistent performer for safety but Million Dollar Pips has been the best in profit although it carries more risk. That's why I did these two EAs first in the portfolio. Hope this helps!!

Kindest Regards,
omar

[pharoh777]

Megadroid Live Performance Update for 1/20/2012:

Trades taken 1/19/2012 AND 1/20/2012 but same Asian Session (first two trades entered before end of day)

Trade 1: +9.8 Pips
Trade 2: +3.5 Pips
Trade 3: +6.8 Pips

Total: +20.1 Pips

Total Gain For Week: +37.8 pips and +1.2%
Total Gain for 2012 in Pips: +37.8
Total Gain for 2012 in %: +1.2%

Three trades in ONE day???? Wow, this is awesome. I haven't seen this in a while!

[nigel lane]

why many thanks .........do you have a record to date say over last 6 months please

much appreciated ....best Nige

[pharoh777]

Nigel, I have provided my entire 2011 statistics for the entire year in my first thread about megadroid. You can find that here: Forex Megadroid Review and Performance You will find all the ins and outs of the entire year's worth of data. I have started using a new broker in 2012 so a continuous record bridging the two is not possible but if you want to know the stats for the second HALF of 2011 here they are:

6/01/2011-12/23/2011
Gain: +11.88%
Trades: 69
Win %: 84.06%
Pips: +338
Drawdown: -4.4%
Avg. Win: +7.21 pips
Avg. Loss: -7.30 pips

I hope that is sufficient for your purposes my friend. If you need any more info don't hesitate.