HomeDaily ResultsMegadroid Results: Tues 24th May 2011


Megadroid Results: Tues 24th May 2011 — 15 Comments

  1. buy 23:09 1.41017 –> 00:30 1.41056 3.9
    buy 00:03 1.40969 –> 01:06 1.41048 7.9

    fxpro 11.8


    buy 22:10 1.41007 –> 23:30 1.41059 5.2
    buy 23.03 1.40971 –> 00:06 1.41047 7.6

    alpari uk 12.8

  2. Hi mates,
    MD performed really well on FinFx. Two trades.

    Bought – 1.40964
    Exit – 1.41066
    Profit – 10.2 pips.

    Bought – 1.40971
    Exit – 1.41048
    Profit – 7.7 pips.

    Net profit – 17.9 pips.

    I have ECN account on FinFx.

    Happy trading!

  3. Activtrades : no trades
    fxpro: 7.9 pips + 3.9 pips : 11.8pips
    Alpari : 7.9 pips +3.7 pips :11.6 pips
    Finfx : I got 3 trades !
    7.7+3.9+5.1= 16.7 pips

  4. Hi Richard,
    Once I had 3 simultaneously trades on my FinFx account, but that was since I opened two one hour charts on MT4. 🙂

    Secondly, I am surprised that you are not using any ECN account. Why is that?

  5. Moreover, could you please tell me how leverage affects MD’s trades? I had to chosse between Dukascopy and FinFx. Duka gives 1:100 and FinFx can give upto 1:200 leverage on ECN account.

    Which type of account would suite MD?


  6. You can’t have 3 simultaneous trades because MD takes into account only 2 magic numbers. If you have 3 orders simultaneously, that’s that MD is a buggy software or your platform has disconnected then reconnected.


  7. Hi Jagstrack,

    Many MT4 brokers call themselves an “ECN”, if they’ve configured their server for “Market Execution” instead of “Instant Execution” (see MT4 Brokers – Instant Execution Vs Market Execution). According to that definition GO Markets, Axitrader, MB Trading and InterbankFx are all ECN’s. But in reality all MT4 brokers are actually Market Makers. There is no forex “exchange”, and the Market Making operations are either handled in-house by the broker, or outsourced to a 3rd party market maker for a fee.

    Another broker marketing trick is to promote themselves as a “Non Dealing Desk broker” or NDD, if they outsource their market making operations, because technically the “dealing desk” isn’t located on their premises. Not so long ago the NFA imposed large fines on a well known MT4 broker for using such deceptive advertising.

    Examples of a true ECN would be the way orders for NASDAQ stocks and GLOBEX futures are handled. In these instances there is a real exchange, and the orders are passed through transparently to a electronic network.

    Anyway, the fact that MT4 brokers are market makers isn’t such a bad thing. Sometimes you can get better execution in these artificial markets.

  8. Hi Fred,

    You’ve made an excellent point. To handle the 3 trades independently, you’d need 3 magic number identifiers. I guess there’s a chance the 3rd order has a unique number, that’s just not being displayed in the parameters window.

    One way to tell, would be for someone to print out a Detailed Statement including the 3 simultaneous trades, and look at the magic numbers associated with each trade.

  9. Hi Richard,
    I see your point. And I know every broker would trade against us. But my point was that lower spreads makes MD perform better. So, so called ‘ECN’ broker are better when they provide lower spreads.

    Moreover, I am constantly trying to figure out strategy used by MD. I can not reach a conclusion. Intitially I thought that its using range strategy during low volatility hours. But when I analysed more, I figured out it’s not true.

    It jumps to trade in a random way and it does not follow any particular pattern. I have been trading for 5 years and I understand diff strategies, but MD is difficult to predict. Why could that be? Are trades based not only on strategies but also risk reward? Or volatility, risk management, spreads, trend direction etc. has a role to play?

    Please let me know if you have done some findings.

    Best regards

  10. Hi Jagstrack,

    I’ve actually found that “lower spreads” does not necessarily mean better Megadroid performance. For example, my MB Trading account has by far the best spreads of any broker I use – often under 1 pip on EUR/USD. However this does not translate to superior Megadroid performance.

    The reason why, is because the “Market Execution” type MT4 brokers (also marketed as “STP” or “ECN”) have no slippage control. So for example, even if the spread displayed on the terminal is 1 pip, your order can be slipped by 1-2 pips on entry and exit, and so the real spread is actually more like 2-4 pips. The MT4 brokers are able to configure their server side software to slip orders by a predetermined amount. Therefore heavily advertised “low spreads” might not tell the whole story.

    In my view the best performance indicator for a broker is the actual trade execution of Megadroid orders compared to other brokers, measured over a period of several months. That’s what I’m recording in this blog.

  11. this is a copy paste of my 3 trades on FINFX
    2011.05.24 00:01 buy eurusd 1.40452 0.00000 0.00000 2011.05.24 01:05 1.40503 -3.50 0.00 0.00 25.50
    magic number 379414
    2011.05.24 23:10 buy eurusd 1.41010 0.00000 0.00000 2011.05.25 00:30 1.41049 -3.50 0.00 0.04 19.50
    magic number 739146
    2011.05.25 00:03 buy eurusd 1.40971 0.00000 0.00000 2011.05.25 01:06 1.41048 -3.50 0.00 0.00 38.50
    magic number 379414

    the first and last trades have the same magic number and have been closed
    with one minute difference ….
    that sounds wiered …

  12. Hello.
    Richard your comments are interesting

    Albatore, interesting numbers from you, I also have FinFx ECN account.


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