HomeDaily ResultsMegadroid Results: Mon 28th Sep 2015


Megadroid Results: Mon 28th Sep 2015 — 20 Comments

  1. I wasn’t intending to trade this session because there was an FOMC speech at 5 PM EST.

    But I forgot to shutdown my MB Trading platform, so I though I’d post results from that account anyway.

    From now on, I’m going to check for any news events around the time of the Megadroid trading session. If I can’t see any then I’ll just rely on Megadroid’s Remote Safety Mode (RSM) feature.

    Had I done this last Thursday, that large loss would have been avoided because Yellen’s FOMC speech was scheduled at 5PM that day.

  2. I saw it was a yellow warning on ff as opposed to red , so scaled my lot sizes down a tad and carried on , 2 sells on FXCM 5.1 and 1.9 .

  3. I think the fact that MD is not designed to trade on news is appropriate and acceptable as the market is purely emotional and very unpredictable. But having said that, MD set such a big SL range makes it very dangerous if their RSM is not on.
    One mistake can wipe out nearly your all year longs profit, because on the other hand MD TP is very small which takes a very long time to build back what it loss.
    It is really subjective how MD team feels when to activate RSM but I am not going to take anymore risk and will turn it off whenever there is some FED or ECB speech on the MD trading time.

  4. The frustrating thing about last Thursday’s loss, is that it was avoidable because it was a sheduled news event. I should have looked at the news calendar that day.

    Having said that, most of my large Megadroid losses in the past have been from unscheduled news events. For example, a few years ago Moody’s decided to announce a reduction in the US credit rating right in the middle of the Megadroid trading session while I had open trades! Really hard to avoid those situations.

    Sometimes large moves happen without any obvious news event.

  5. Yes I got hit as well and lost all profit from the last 52weeks. Now my account is small so I’m not upset however this is a lesson in general money management and overall strategy. I have other accounts running other MD based robots and they didn’t suffer as bad or none at all.

    As a general word of advice.
    Don’t put all your eggs in one basket. Diversify.

    MD isn’t the beast it used to be pre 2009 because the FX market has significantly changed. This robot won’t make you rich quick but it you take a long 5yr or more approach, it will earn you some money. Research other robots, copy trades, PAMM, manual trading. Using several approaches guards against any one approach having a large loss.

    You may even find your own trading outperforms MD with much less risk.

    Food for thought.

    P.S. MD will recover.

  6. Richard , I concur with your thoughts entirely . However , I was surprised on that day that the RSM was not implemented as previously it was – for much mmore inor situations.

  7. I agree Robbo.

    I think RSM mostly picks up FOMC minutes and statements that occur at 2:30 EST and disables trading on those days.

    A FED speech at 5PM EST is a bit unusual, so I guess it was missed by RSM.

    The lesson for me is that I need to do my own scan of the news to provide an extra safeguard.

  8. Richard,

    I agree with you that we should not completely rely on RSM and we need to check the financial calendar ourselves.

    In the past, I had been burned a few times by the unscheduled news. So I always keep an eye on the news when I have an open position. If the news is against my position I will cut the loss at ~20 PIPS. I might loos the chance of potential reverse back to break even. But I can avoid these huge losses which will take many wins to make up.

  9. Hi Richard,

    As to your 28-Sep trade on MB Trading, MD normally doesn’t trade for the last 3 days of the month, does it? Please clarify!


  10. Hi Michael,

    I think Megadroid assumes 31 days in the month, and it doesn’t trade on the last 2 days. So maybe that’s why it placed a trade on the 28th.

    I didn’t have any other accounts running, so I’m not sure if this trade would have been placed on my other accounts.

  11. Hi Richard,

    Thank you for the new info! I stand corrected.

    So, MD doesn’t trade on the 29th & 30th in the month with 30 days while it doesn’t on the 30th & 31st with 31 days month. What about 28 days month?

  12. ММ with 0.2 is very dangerous. This is 20% of depo.

    Normally MM is – 2-3%, maximum 5%.

    This is the reason that I stop trading w Megadroid.

  13. No trades for me on Tues 7th Oct.

    Remote Safety Mode deactivated trading.

    Looks like RSM is now detecting those FOMC speeches that occur latter in the day.

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