HomeDaily ResultsMegadroid Results: Tues 24th Aug 2010


Megadroid Results: Tues 24th Aug 2010 — 21 Comments

  1. Hi Richard,
    Good to see your accounts didnt make any loss on 24th.
    My account with ATC took a heavy loss -45.1 pips on 24th, (-41.7 loss on 23rd).

    2010.08.24 16:31 buy 2.86 eurusd 1.26638 1.25861 1.27138 2010.08.24 17:19 1.26187 -22.88 0.00 0.00 -1 289.86

    After analyzing what happened, I think my open position was closed on margin call because it didnt hit stop loss.
    My risk setting was 30%. My available balance was around USD 4250/- and a
    position of 2.86 lot was opened at 16.31 and another position of .36 lots
    were opened at 17.01 since aggressive and recovery was set to true , both the positions margin was around 3000/- and the loss of the first 2.86 lots of USD 1289.96 might have led to the close of the position.

    Richard, am I right or is it something else.
    A lesson learned the hardway, I still believe in this EA, I have gone through
    the previous performance and this looks like a temp situation. One thing I am going to reduce my risk to 10 or 20 % so that this wont happen again.
    Patience and Discipline.

  2. Hi Georjee,

    Sorry to hear about the loss. I suspect a margin call might be an explanation. That’s happened to me in the past on other accounts, especially with 30% risk and aggressive set to “true” with 1:100 leverage. Today’s trades were about 46 pips down at one point, but luckily recovered. None of them stopped out fortunately.

    I’m not entirely convinced the earlier trades Version 1.30 places are a good idea. It places trades from 4PM EST onwards, whereas version 1.21 started placing trades at 5PM EST. The trades that have struggled over the past few weeks have all been those early trades. The 4PM to 5PM period can be volatile, because it’s just after the close of the NYSE.

  3. Hi Georjee,

    Sorry to hear about your misfortune! I really am.

    How do you like trading MD on ATC platform? What is their spread like? Any slippage problems? I am considering opening an account with ATC myself. That is, I heard from somewhere that ATC’s demo account is being used in the forward testing published on MD’s website, and the performance there looks so much better than my live results with FXDD.

    By the way, have you ever compared your live results with the MD’s forward testing?

  4. Hi Richard

    almost identical results to you on alpari uk

    I have slightly reduced my risk to 0.16 and 0.18 on accounts.

    Have you raised the query about the earlier trades,as it definitively are those that are struggling?



  5. Richard are you going to make any changes to the gmt time? or leave it?

    I picked up this comment from the Forex peace army by Kirk.

    ya, watta ride got me 1pip. This first hour is about to kill the trades almost. So I change now my GMT from +3 to +2 so that he will avoid trading an hour earlier. When chart goes smooth again I will perhaps re-change this but for now this is far to much noise there.
    I won´t changing back because I have to live with this version because of shutting down 1.21 soner or later so I will go on change here change there.

  6. Hi asif,

    No. They previously said the earlier trades were intentional change with this version.

    There’s always the option of manually adjusting the GMT so that it trades similar to 1.21.

  7. I’ve been experimenting with the Alpari account.

    It seems that if I set “AutoGmtOffset = false” and “GmtOffset = 2”, it trades like version 1.21

    It also seems that “AutoGmtOffset = true”, behaves the same as “AutoGmtOffset = false” with GmtOffset = 1″ on Alpari.

    You can test this out if you run a backtest.

    All my live results with 1.30 have been with “AutoGmtOffset = true”. I’ll continue with those settings, but I might start posting some new results with “AutoGmtOffset = false” and “GmtOffset = 2” so we can compare.

    I’ll call the new account “Alpari (LATE)” in the Daily Results section.

  8. Hi asif

    GmtOffset = 2 or 2.0. But that’s only for the Alpari account. (see here). It’ll be different at other brokers with different server times. I’m only using this setting on one account at this stage

    With that setting, we would have avoided yesterdays 46 pip stop

  9. Richard

    If you don’t want Md to open 2 trades at once which setting do you turn off please?

    However i want to leave recovery mode switched on.

    Thanks so much


  10. Hi Michael,
    Regarding your question about ATC, They are one of the best brokers for MD,
    The problem with me ( I think)was that my risk level was set to 30%.and the
    recovery and aggressive are set to true. This increases the open lot positions.
    For 5 months it was Ok and made more money but with the new 1.3 MD, I think the loss has become too much for the margins to be called for.
    Fxdd is another broker, which also performs well with MD, but there also 2 times, one in May and one on Aug 23rd the stop loss was hit where as other
    MD accounts closed for small profits. I really dont why. When I checked with
    Fxdd they washed hands saying that EA performance is not their problem and MD
    guys told me that these things can happen due to slighty different connection speed which may result in missing a trade or different signal.
    Really dont know who to blame and what to do if it happens again.
    The fxdd loss was not caused by margin call, but something else, This loss caused me about USD1000/- on a USD 8000/-account. So be careful set your risk
    level always at 10 or 15%.

  11. Hi Richard,
    Regarding your experiment with GMT on Alpari, there is no harm in trying.

    But dont you think that MD guys have thought of something with the new earlier
    trades. The lackluster performance of MD in June and July compared to May. Maybe 1.3 the trades would be more and most people want the EA to trade often
    which may increase the EA’s sales.

  12. Hi asif,

    Megadroid trades 2 types of trades independently – S1 and S2 trades. So you can have an S1 and S2 trade open at the same time. I’m not 100% sure, but my understanding is that turning aggressive mode off, disables the S2 trades. That means you’ll at most only have one trade open.

    I trade all my accounts with aggressive mode on.

  13. Hi Georjee,

    I don’t think July was that bad performance wise. The May performance was way above average. June was quiet, but still profitable. But August has been poor. Even if I had been trading version 1.21 for the whole month, I would have struggled to make 15-20 pips in August. I would have avoided Monday’s big loss though.

    I’m not sure why they changed the trade times with version 1.30.

    Presumably they thought it was an improvement, but I’m not convinced. Anyway, it’s pretty easy to reconfigure Megadroid so it trades similar to version 1.21. I’ve described how to do it here. That’s what I’ve done with this new account.

  14. hello,am abit new to ea’s and recently purchased the md.i would like to use your alpari late settings but the problem is that i hv 2 autogmt offsets. one is autolocalgmtoffset and the other is autoservergmtoffset. so which of these do i change to false?

  15. Hi Paul

    You can find my settings for the “Alpari Late” account HERE. As you can see, both AutoLocalGmtOffset and AutoServerGmtOffset are set to false. These setting make Megadroid trade one hour latter than the default settings on an Alpari account.

    You might want to consider using the default settings (see HERE). As you can see from my Monthly Results, the default settings have performed better in October and September giving more trades, despite a poor start in August.

  16. I’m a complete newbie to trading but I decided to try etoro the other day and invested $300 in the Euro. Was that a good move? I’d love to hear from you guys with more experience.

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