September 2012 Summary
MB Trading : 6 Trades: -8.1 pips GO Markets : 5 Trades: -6.0 pips InterbankFx : 5 Trades: 6.3 pips InterbankFx AU : 5 Trades: 5.8 pips FxPro : 7 Trades: 13.8 pips Alpari UK (Mini-1) : 7 Trades: 11.5 pips Alpari UK (Classic): 7 Trades: 13.8 pips FXDD : 4 Trades: 7.4 pips AxiTrader : 5 Trades: -5.2 pips FxSol : 3 Trades: 4.0 pips Average = +4.3 pips, Profit = $108 (e.g trading 250k lot EUR/USD)
i’ll update these results as the month progresses
Hello Richard,
I’m writing to let you know that I’m very disappointed with this EA. I purchased it in June and since then have seen numerous times where the profit is less than the commission cost resulting in a loss. And also numerous times where trades will close with a negative loss of 10+ pips but only close with a tiny positive gain of 0.1 pips.
The PipJet EA looks to be cut from the same cloth.
How can your claim on your sales page of 100’s of percentages in profit be true when you haven’t even broken even on pips this year?
I already contacted the help desk to see if there was a problem on my end with installation but it looks like everything is working as it should.
Hi Jason,
This is not Megadroid’s website. This is my own personal website/blog where I post my own Megadroid trades on the accounts I use. I do this to keep track of my performance and work our which brokers are performing better.
If you want to contact the Megadroid people, their website is http://www.forex-megadroid.com. They should also be able to help you with other products they sell like PipJet.
I haven’t purchased a copy of PipJet, so I only I can’t comment on it’s performance. I’m watching this one from the sidelines at this stage.
If you look through my Monthly Results, you’ll see I’m barely break-even for the year. I’ve had multiple small winning months, and one larger losing month in 2012 so far.
The problem over the past few months has been a lack of trade counts, and profit/per trade because of the current price action on the EUR/USD pair. Hopefully this will change soon, but there’s no guarantee’s. We’ll just have to wait and see.
I’m personally going to continue trading because my outlook is longer term i.e. 12 monthly. So far I have been profitable in 2009, 2010 and 2011. So far 2012 has been borderline, but I really only need 1-2 good months to make a profit for the year, and even if I lose, my previous years profits will cover it.
ActivTrades: September 2012 Summary = +9.0 pips
+1 to Richards point.
The MD Robots like any trader are at the mercy of the price feed, tick data, and spreads. If the robots aren’t working for you on your current broker, change brokers.
True ECN/STP brokers with very low spreads(usually commision paid) are the best for scalper robots. Also, broker diversity like Richard’s setup is a good way to avg out your MD trading portfolio. Don’t put all your eggs in one basket and don’t trade only one robot on one broker. MD is a good robot but it’s not the only one…google is your friend.
We have to remember that 2012 is a big year for FX due to the global EUR sovereign debt problems (PIIGS!!!!). As good as MD is, it can’t see into the future no more than anyone else.
No matter how you trade, you must have a market sense and your own plan. Adjust MD’s risk based on what you see or determine that you’ll surf the storm out until the market improves. That’s FX trading…survival.
Ohh and BTW, the MD site has never made a claim their robots don’t lose. ALL TRADERS WILL HAVE LOSING TRADES. The point is to have many more winners than losers. MD is designed to have long streaks of winners compounding profits. The losses encountered are compensated for by recovery mode to double the size until the loss is recovered. Yes you can have a loss during recovery mode too. Again, the account will survive if you stay in the game.
You only fail when you stop trying.
Richard,
You’re right. I didn’t look closely enough at your site before posting my comment. Your URL was given to me in a mail reply I received from the MD help center, so I just assumed there was an official connection.
My apologies to you for the confusion.
No problem Jason,
The Megadroid people do link to the trade results on this blog from time to time.
But all these trades are from my own personal trading accounts. You’ll see the good and bad periods for this strategy over the past few years.