MB Trading : 6 Trades: 27.8 pips GO Markets : 9 Trades: 11.6 pips InterbankFx : 8 Trades: 65.0 pips FxPro : 9 Trades: 7.4 pips Alpari UK (Mini-1) : 9 Trades: 18.5 pips Alpari UK (Mini-2) : 9 Trades: 15.4 pips FXDD : 6 Trades: 40.0 pips Average = +26.5 pips, Profit = +$663 (e.g trading 250k lot EUR/USD)
MT4 brokers have the capability to configure their trade servers to handle MT4 market orders in one of 2 ways.
Type 1: “Instant Execution”
As you can see in the above trade window, the type is designated as “Instant Execution”, and you’ll also see an optional maximum deviation field. This was the most common type of market order configuration when MT4 first came out. The trader is able to control slippage on a market order by specifying the maximum tolerated pips deviation from the ask price in the case of a buy, or the bid price in the case of a sell. If the trade server is unable to fill within that deviation, the trade is rejected and a requote message is returned.
MB Trading : 1 Trades: 10.4 pips GO Markets : 1 Trades: 10.2 pips InterbankFx : 1 Trades: 9.0 pips FxPro : 1 Trades: 10.8 pips Alpari UK (Mini-1) : 1 Trades: 10.1 pips Alpari UK (Mini-2) : 1 Trades: 9.5 pips FXDD : 1 Trades: 10.0 pips TRADE DETAILS: Read More...
It’s an interesting question. If you look through my daily results you’ll see an amazing amount of variation in the trades across my various live forex broker accounts. There is variation in both the number of trades and the profit of each trade. Below are the reasons for these variations: Read More…
MB Trading : 1 Trades: 3.8 pips GO Markets : No Trades InterbankFx : 1 Trades: 7.0 pips FxPro : 1 Trades: 3.7 pips Alpari UK (Mini-1) : 1 Trades: 4.0 pips Alpari UK (Mini-2) : 1 Trades: 4.0 pips FXDD : 1 Trades: 6.0 pips TRADE DETAILS: Read More...
I’ll walk you through how I go about finding a forex broker to work with Megadroid.
I think it’s really important to do your own independent due diligence for any forex broker that you’re considering using. That basically means creating a checklist of the important criteria, and only proceeding if they “tick all the boxes”. It’s important not to be swayed by marketing hype (bonuses, contests, fancy websites), or recommendations on various “review” websites. Focus on the important questions and make sure they’re all answered.
This is the 5-Point checklist I use: Read More…
The Megadroid Robot is basically some software that you can purchase and download, that allows you to automatically trade forex (foreign currency) on your home computer using a clever algorithm.
Question: What do I need to run the Megadroid software?
Answer: You’ll need to open a trading account with a Broker that supports the popular MT4 Trading platform. It’s always wise to start with a demo account, that way you’re not risking any real money. All MT4 brokers allow you to open a demo account for free. Once you’ve installed the MT4 trading platform, you can then install the Megadroid software (megadroid.ex4 and megadroid.dll) on your computer. After you purchase Megadroid, you’ll be provided with a detailed manual that walks you through the installation process step by step. It’s quite straightforward. This software only runs on Windows, however you can run it on an Apple computer by installing some PC emulation software such as Parallels.
Question: What currency pair does the Megadroid robot trade?
Answer: Megadroid only trades the EUR/USD currency pair.
Question: When does the Megadroid robot place trades on my account?
Answer: It will only place trades during 4 specific time windows each week, starting around 5-6PM EST, and lasting for 2-3 hours on Monday, Tuesday, Wednesay and Thursday evenings. No trades are placed on Sunday evening. During these time windows, the Megadroid robot will constantly analyze the price action of the EUR/USD pair, looking for an ideal trade setup based on internal algorithms built into the software. If an ideal setup is detected, it’ll automatically place either a long or short EUR/USD trade on your trading account. Some evenings it’ll place 1 to 3 trades, on other evenings it won’t place any trades if the ideal setup doesn’t occur.
Question: When does Megadroid close my trades?
Answer: Once the trade has been placed, Megadroid will monitor the trade, and close the trade if it reaches a predetermined profit target (around 10 or 15 pips). If the trade fails to reach the profit target within a specific time, Megadroid will attempt to close the trade for a smaller profit, or even a small loss. If a the trade goes bad, it’ll close the position at a safety stop level, usually around 54 to 75 pips depending on the market conditions.
Question: On average, how many trades will Megadroid place per month?
Answer: It depends on the market conditions and the broker you use. As you can see in my monthly results section, some months only produce 4-5 trades, whereas other months can have 15 trades or more. The Megadroid robot will only place a trade if the conditions satisfy a specific criteria. The idea is to only place trades if they have a high probability of being profitable.
To find out more about Megadroid, make sure you check out the product sales page by clicking HERE.
MB Trading : 1 Trades: 2.2 pips GO Markets : No Trades InterbankFx : No Trades FxPro : 1 Trades: 10.6 pips Alpari UK (Mini-1) : No Trades Alpari UK (Mini-2) : No Trades FXDD : 1 Trades: 3.0 pips TRADE DETAILS: Read More...
MB Trading : No Trades GO Markets : 1 Trades: 8.8 pips InterbankFx : No Trades FxPro : 1 Trades: 8.1 pips Alpari UK (Mini-1) : 1 Trades: 11.3 pips Alpari UK (Mini-2) : 1 Trades: 10.2 pips FXDD : 1 Trades: 11.0 pips TRADE DETAILS: Read More...