HomeDaily ResultsMegadroid Results: Mon 12th Dec 2011


Megadroid Results: Mon 12th Dec 2011 — 24 Comments

  1. activtrades : 10.7+ 5.5 =16.2pips
    finfx :5.3 +10.3= 15.6
    hotforex : 8.9+12.1= 20
    gomarkets =11.8 +10=21.8
    alpari : 10+3.8=13.8

  2. Hi Richard,

    I have 2 Qs & hope you can help here while I was setting up my MD EA:

    1. I have encountered error 4096, and MD was disabled due to wrong live account used. I was using it first time to test on FinFX demo and now I want to trade on my FXDD live account & the error msg occurs. Is that the per copy license problem per broker account problem that I should inform MD support to update my broker record in their system?

    2. Why don’t you trade on Finfx as the spread is lower than 1.0 (or any ECN which offer low spread most of the time) and decided to go with FXDD where spread is around 2.0? Is spread size a concern in MD EA?

  3. Hi Drew,

    “Error 4096”
    You should contact megadroid support about that. They should be able to tell you what to do (support@forex-megadroid.com)

    I don’t trade at FinFx because they’re not regulated. Regulation is very important to me, because of funds safety issues. Regulated brokers are required to demonstrate adequate capitalisation, and other requirements. There’s no such checks with unregulated brokers.

    Spreads that are displayed on the MT4 terminal (and advertised by the brokers in their marketing material) can be very misleading. This is because the spread does not take into account trade slippage. Unlike “Instant Execution” MT4 brokers, MT4 brokers that use the “STP”/”ECN” MT4 configuration don’t have any slippage control. So you might get filled at the price displayed, but you could just as easily get slipped 2 pips on opening the order and 2 pips on closing the order, making the real effective spread more like 4 pips.

    The only way to really assess the performance of a broker, is to actually record the trades over a period of a few months, and see how they compare to other brokers. That’s why I record my trades in this trade journal blog.

  4. Hi Ross,

    Yes, I still have some open trades. I’ll post the results once they close. Currently -12 pips. Megadroid tends to close the trade after 12 hours if it’s still open. Best case will be a break-even result, worse case a full stop loss. We’ll just have to wait and see what happens.

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