HomeDaily ResultsMegadroid Results: Mon 6th June 2011


Megadroid Results: Mon 6th June 2011 — 14 Comments

  1. Most of my trades were up around 8-9 pips at one point, but only the FxPro account reached the 10 pip target. All the other accounts eventually closed at around break even

    Note how the MB Trading and InterbankFx trades closed with a small loss. Megadroid only closes at break-even or profit, so this is due to slippage at the MT4 brokers. Both these brokers are so called “ECN” or “STP” brokers i.e. they have no slippage control. And MB trading usually has spreads less than 1 pip. It’s a good example of how advertised spreads and spreads displayed on the MT4 terminal can be very misleading. Ultimately all that matters is trade execution.

  2. I had a small loss on fxpro.

    Sell: 00.42 1.45827 -> 03:02 1.45862 -3.5pips
    Had a requote and trade closed 5 secs too late.

  3. I think that 10 hours after the time MD starts trading, it will give up even if it’s a loss because it doesnt want to enter whatever market that is opening (forex noob). So it doesn’t always close profit or breakeven.
    Heres a trade I’ve had:
    Buy: 12.02.2009 22:00 1.50329 -> 08:02 1.50737 -1.2

  4. Strangely I got two profitable trades on FinFx. 11.8 and 9 pip. After closing the first trade it opened another trade. So total of 20.8 pips.

  5. Alpari – 1 pip.
    What I find frustrating is, that MD had several opportunities over a couple of hours to close the trade with just under 10 pips of profit, and it didnt!
    instead the market turns then comes back and takes one bloody pip profit! WTF is that all about.


  6. Yeah, I feel you. I was checking myfxbook to see if I had any open orders and there were several times where I wanted to manually close the trade, but I couldn’t because I wasn’t at my station.

  7. Alchemist

    That’s the way MD is set up. If it’s after its normal trading window (3 hours I believe) and there is an open trade that is loosing MD will only attempt to break even. Evidently it doesn’t take into account any possible winning market trends. Richard, please add any other insight if necessary.

  8. Hi guys,

    Megadroid only opens trades in the 2 hour time windows from 4PM EST to 6PM EST

    Initially Megadroid uses a take profit target of 10 pips for an S1 trade, and 15 pips for an S2 trade, but this target is gradually reduced the longer the trade stays open. Eventually the target is just break even, like it was for this trade.

    If after 12 hours, the trade hasn’t hit the stop-loss level, and hasn’t got back to break-even, Megadroid seems to just close the trade at that point regardless.

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