HomeMonthly ResultsMarch 2012 Summary

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March 2012 Summary — 12 Comments

  1. Hi Richard, I think your Journal very interesting, congratulations and thanks for sharing it.
    I bought MD long time ago but only now I took some time to test it.
    Did you heard about https://pepperstone.com/ : I’m using it and Amazon Ec2 as my vps and will start to test MD on demo account at first.
    Anyway, they have a great ECN account you should take a look.
    Best regards

  2. Hi Felipe,

    Unfortunately, the only way to determine if a broker performs well with Megadroid, is to actually see how they trade on a real live account.

    Demo accounts won’t tell you much because the price fills, and trade execution is very different to a live account.

    I haven’t had any experience with that broker.

  3. Was a very quiet month. The average monthly trade count is around 8-10, but this month it was about 4-5. Only 2 trades on my InterbankFx accounts which is surprising.

  4. Hi Richard,

    You probably received the e-mail below from Alpari UK… would MD notice the change to GMT+3 if set on automatic GMT?


    Dear Client,

    Due to overwhelming client demand we will be making changes to the MetaTrader clock settings that will give you an extra hour to trade each week.

    What is happening?

    The MetaTrader clock on your platform will be switching from Central European Time (CET, GMT+2) to Eastern European Time (EET, GMT+3). The change will take effect at 0:00 EET Monday, 2 April 2012 (21:00 GMT, 22:00 BST Sunday).

    What does this mean for you?

    This small change will bring Alpari (UK) trading times into line with more markets for more clients. The greatest effect of this change will be at the weekly opening of the markets. You’ll now have an extra hour to place stops and limits or to adjust a position in response to any major market movements in the first hour of trading.

    If you use an Expert Advisor (EA) which requires the GMT offset to be manually input, please ensure that this is adjusted to GMT+3 to reflect this change before the markets open.

    We suggest on the first week this takes effect you pay special attention to your closing positions on Friday, 30 March and opening positions Sunday, 1 April 2012.

    If you have any questions please don’t hesitate to contact your Client Services Team on +44 (0)20 7426 2900 or support@alpari.co.uk.

  5. Hi Roger,

    It depends on what time reference the Megadroid EA uses to determine the start and end of the trading session. If the EA uses the broker’s server time as a reference with a fixed offset, then this change will effect the trading session start and end times.

    However if Megadroid uses the computer’s system clock or the Megadroid server’s reference time, then this change won’t have an impact.

    It’s impossible to know without having access to the code.

    I’m personally not going to make any changes at this stage… i.e. I’ll keep the Alpari accounts on AutoGMT, and just see what happens. I’m sure the Megadroid people are aware of this change, given how many people are using Megadroid on Alpari.

  6. Hi Guys,

    While I’m new to MD and Forex, I’m a long time stock / warrant trader who has seen the Forex light. I have done a lot of analysis of what MD can do and I must say I’m impressed.

    I might suggest, while SL events are always nasty, the loss recovery mode MD uses (basically doubling your normal risk / lots size purchase until the $ loss is recovered) basically eliminates the negative pip losses associated with such events.

    Without knowing all the code MD uses in $ loss recovery, I would assume it moves into the most risk adverse mode and does not use the more normal aggressive mode.

    I like this feature as I do something like this when I trade manually. I mean why not do this if your win / loss ratio is very large?

    I did an analysis of the RSM (Remote Safety Mode) option. I found it had a slight negative effect, based on the OPs posted results from when he did not apply it to 2 of his accounts. I feel it is a marketing tool to help overcome the double SL that occurred in July 2011. To me the $ loss recovery system handed that situation OK and recovered the lost money in a few months. OK a long time but then it was 2 big back to back SLs.

    Had I been online then, the loss may not have hit me. So hard to say if the RSM would have had the desired effect.

    I’m in a steep learning curve so feed me your comments (+ or -).

    Phil

  7. Hi Richard,

    I completed an interesting spreadsheet comparing your 10 brokers against the published MD web site data 01 Jan 2011 to 24 Feb 2012. It clearly shows how many pips gain is caused by the MD SL recovery system. Any way to do attachments or do you have an email address so I can send it to you?

    Phil

    Richard: Here’s a link to Phil’s spreadsheet:

    http://www.megadroidresults.com/files/MD10Brokers.xls

  8. Hi Phil,

    I can upload the spreadsheet to the server and provide a link for people to access it if you want. Just send it to contact[at]megadroidresults.com

    The other option is to upload it to googledocs and post a link to the spreadsheet. The advantage of GoogleDocs is that you can make updates easily.

    Just on a few other points you mentioned….

    “Recovery Mode”.

    I actually disable this feature, because in my view doubling the trade size just doubles the risk because each trade has the same probability of winning or losing.

    “RSM”

    My results don’t tell the whole story, because unfortunately I only started using this feature in August 2011, just after 2 large losses that occurred at the start of that month that would have been prevented if RSM was enabled. Had I enabled this feature for the entire month, August 2011 would have been a profit month for me rather than a loss month. So I was a bit unlucky with my timing. I’m still a bit undecided as to whether this feature is a benefit over the long term. RSM seems to disable trading on FOMC days, and occasionally 1 or 2 other days during the month.

  9. Hi Richard,

    Sent you my spreadsheet which shows why I use:

    1) RM = True
    2) RSM = False

    With RM = True you must remove SL pip losses from monthly pip counts because those pip losses have been eliminated by the double lot sizes RM trades.

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