HomeDaily ResultsMegadroid Results: Thur 23rd Feb 2012

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Megadroid Results: Thur 23rd Feb 2012 — 29 Comments

  1. At Alpari UK classic… kind of lucky today.

    I’ve forgot to open MT4 on time today and missed the S1 sell… no big deal as at Alpari UK it was closed at break even.

    Regarding S2 sell MD opened an order at 1.33780, unusually different entry point when compared to Richard’s entry point at 1.33752. I’ve ended up closing the order manually due to a storm (and being afraid losing internet connection), resulting in 5.8 pips.

  2. Hey there. Can u tell me witch one of your accounts is closest to a Pepperstone razor?

    And how much risk for trade u advise for this EA?

    Regards
    PH

  3. ATC –> 2 Sells at 2.1 and 7.0 pips

    Hi Richard,

    Just want to follow up with my question the other day. We, as a user of the EA, certainly don’t know if the system will be profitable for a very long time or not. And you also said you expect some losing months as you saw last year.

    My question is when would you think “this is enough. it’s not profitable anymore”?? For example, 6 consecutive losing months? Just an attitude question that I hope you don’t mind to answer. Again, it’s just a tough one to ask because we don’t “see” much of the logic of the system so we can’t analyze this directly. By the way, many thanks for this trade journal.

  4. Hi Knick,

    That’s an excellent question

    All Strategies and systems can and often do fail, and knowing when to get out is important.

    2011 was probably the most difficult year for Megadroid. I had 3 losing months in a row (June, July, Aug), which was the worse run I ever had. At one point I was negative for the year. Luckily it recovered and I ended positive for the year.

    So when would I have stopped?

    Well, I was fortunate in that I already had 2 profitable years (2009, 2010) before that. In addition, my money management is consistent and pretty conservative. GIven that I was prepared to continue for even another 3-4 losing months, before I’d consider that the strategy had failed.

    In terms of my expectations, I assume I’ll have 2 to 5 losing months per year out of 12. My main objective is to be positive for the year.

    As I write this I’ve had 3 consecutive winning years (2009, 2010, 2011), and 2 small profit months this year. So even if the strategy fails this year, I should still be ahead overall.

    I think it’s important to have a 6-12 month outlook with this strategy. We just don’t know when the losing months will happen. The key is to be consistent and not over-leverage.

  5. Hello Richard …..
    But I think that losing for 3 consecutive months is really horrible. A new customer of Megadroid 3 months after losing to abandon this Expert.
    I sincerely believe that Megadroid is very good over the medium to long term, but you have to review the strategy! A robot with two strategies can not lose for 3 months …..

  6. AxiTrader(MammothVps) 2trade ->+6.1Pips
    InstaTrader(OnamaeVps)2Trade ->+2.0Pips

    I start to use InstaTrader. Today is first trade MD.

  7. Hello –
    Have had MD in demo Alpari account for 2 weeks now with total of 3 trades. On a small account ($4000) making a pip here and there once in awhile is not that attractive. Am I correct to assume that this EA doesn’t appear to be the correct EA for small size account. All inputs would be appreciated.

  8. Hi pa34,

    Unfortunately a demo accounts won’t tell you much because they perform very differently compared to a live account. The trade execution is different, the price feeds are different, the reliability is different. Furthermore Alpari have started delaying the price feeds on their demo accounts, which may impact an EA’s operation.

    I’ve posted all my live results here: http://www.megadroidresults.com/category/monthly-results/

    That should give you an idea of the month-to-month variation in performance.

  9. Ty Richard for the insight. Based on your posted results (which I understand were achieved using 2.5 Standard-lot trades) a small account will go nowhere fast with this EA.

  10. Hi pa34,

    I guess it depends on your expectations and time-frame.

    If you’re looking for a strategy to double/triple a small account over a few months, then this strategy won’t do that, unless you trade aggressively and are lucky enough to start during a large profit month.

    But it has been profitable on a year-to-year basis for me for the past 3 years. But in order to achieve that I’ve had to be consistent (i.e. always trade and use the same money management), and endure the inevitable losing months.

    However, like any strategy there’s no guarantee it’ll be profitable in the future.

  11. pa34,

    any trading strategy/expert that promises fast, easy results is a system destined to destroy your account. There is no “get rich quick” in trading – except for the purveyors of those experts/systems promising 100%/mo returns. The traders that survive the long-term do so by taking money from those who want big, quick returns. Most traders blow up their accounts by being too aggressive. If you want to double your account in a month, try the casino – you will have more fun and probably the same results. If you want to stay the long term, just be patient and take small gains over time. Reward is directly related to risk – the greater the reward you want, the greater risk you must take.

  12. Cyril,

    When you purchase Megadroid your email goes on a mailing list for other Forex robots. Just because it comes from the “Megadriod Team” doesn’t mean it has anything to do with Megadroid (I ran into the same situation after purchasing MD back in 2009). Richard, please correct me if I’m wrong.

  13. Hi Mark,

    Yes it’s called email marketing. When you buy anything online, you usually end up on someones mailing list.

    I guess there’s nothing wrong with promoting other products, but it’s important to look at the product objectively and ask whether it’ll really benefit you personally or not.

  14. I’m optimistic for March, April and May. In looking at Richard’s Feb 2011 stats the results were also not so great. I know past performance doesn’t guarantee anything in the present but maybe these stats are revealing market trends. Beware the FOMC though. Lol 🙂

    Sandy

  15. I’m very new to this, and haven’t quite gotten my head around everything. If something traded with a 1 pip profit, does that mean it went up 1%?

    I understand there are different lot sizes, and I understand things may or may not be on margin. When you’re reporting MegaDroid results, how does all of this translate into percent return?

  16. Hi Jonathan,

    A pip or point is different depending on the instrument you’re trading. For the EUR/USD currency pair, 1 pip is 0.0001. If you’re trading a 100k EUR/USD lot size, that’s $10/pip.

    1 pips = 0.0001/1.3199 = 0.0075%,

    100 pips = 0.75%

    So the % moves in spot forex are relatively small, that’s why almost all forex accounts are leveraged.

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