MB Trading : 1 Trades: 1.1 pips GO Markets : 1 Trades: 0.1 pips InterbankFx : 1 Trades: 0.8 pips FxPro : 2 Trades: 4.9 pips Alpari UK (Mini-1) : 1 Trades: 0.9 pips Alpari UK (Classic): 2 Trades: 3.0 pips FXDD : No Trades AxiTrader : 1 Trades: 2.1 pips Forex.com : 1 Trades: 4.0 pips TRADE DETAILS: Read More...
Richard
Megadroid Results: Wed 11th Aug 2010
MB Trading : 2 Trades: 6.6 pips GO Markets : 2 Trades: 0.8 pips InterbankFx : 2 Trades: 0.0 pips FxPro : 2 Trades: 0.7 pips Alpari UK (Mini-1) : 2 Trades: 0.4 pips Alpari UK (Classic): 2 Trades: 0.1 pips FXDD : 2 Trades: 1.0 pips AxiTrader : 2 Trades: 0.6 pips Forex.com : 2 Trades: 2.0 pips TRADE DETAILS: Read More...
Megadroid and the FOMC Statement
For those who have been trading Forex Megadroid for a while, you’ll no doubt have memories of some terrible losses in July 2009 following an FOMC announcement. Some of my accounts lost 120-130 pips in one day! It wasn’t much fun. From memory a smaller loss also happened in June 2009 following another FOMC statement.
The FOMC statement is unique because it’s not only a high impact news event, it also occurs closer to the Megadroid trading session than other reports. Most US reports are released at 8:30 AM EST or 10:00 AM EST, but the FOMC statement gets released at 2:15 PM EST. The Megadroid trading session starts at 5PM EST, so less than 3 hours after the FOMC Statement.
Is fear of the FOMC justified?
I‘m not so sure. Even though we’ve had 2 significant losses following that statement, I’m not sure if that’s statistically significant given Megadroid has only been in use for about 16 months.
I’m also not convinced that news-related volatility is necessarily a bad thing for Forex Megadroid. For example in May 2010 there was a lot of volatility on the EUR/USD pair late in the US trading session related to economic instability in several EU nations. That month was one of the best for Megadroid, with 12 to 17 trades, and pip profits in excess of 100 pips, and as high as 163 pips. So in that instance, Megadroid took advantage of the volatility.
What will I do?
I’m personally trading as per normal. I don’t like to intervene with EA trading. If I get a loss, hopefully it’ll recover, and there’s always the chance I’ll get some good trades as well. If you’re nervous you could either disable the Megadroid Robot or reduce the lots traded for the day.
Megadroid Results: Mon 9th Aug 2010
MB Trading : No Trades GO Markets : No Trades InterbankFx : No Trades FxPro : No Trades Alpari UK (Mini-1) : No Trades Alpari UK (Classic): No Trades FXDD : 1 Trades: 7.0 pips AxiTrader : No Trades Forex.com : No Trades TRADE DETAILS: Read More...
Forex Megadroid Version 1.30 released
Hi everyone,
Just in case you missed it, I thought I’d let you know I received this email from the Forex Megadroid developer a few days ago:
So make sure you install the new version, otherwise you might miss some trades when the old version gets deactivated.
It’s going to be hard to know if this new version performs better or not without being able to compare against the old version.
I’ve updated all my live trading accounts with version 1.30. There doesn’t seem to be any new parameters.
August 2010 Summary
MB Trading : 9 Trades: -9.8 pips GO Markets : 8 Trades: -32.8 pips InterbankFx : 8 Trades: -42.8 pips FxPro : 9 Trades: -25.7 pips Alpari UK (Mini-1) : 7 Trades: -36.0 pips Alpari UK (Classic): 8 Trades: -33.1 pips FXDD : 6 Trades: -33.0 pips AxiTrader : 8 Trades: -31.9 pips Forex.com : 8 Trades: -30.0 pips Average = -30.6 pips, Profit = -$764 (e.g trading 250k lot EUR/USD)
Forex Megadroid Broker Spread Analysis
I performed a spread analysis during today’s Megadroid trading session on each of my brokers, using the SpreadWatch EA. The results were interesting.
I’ve posted the results below from the best (MB Trading) to the worst (InterbankFx).
1. MB Trading (av = 0.97)
2. Alpari UK (av = 1.66) Read More…
Megadroid Results: Tues 3rd Aug 2010
MB Trading : 1 Trades: 1.4 pips GO Markets : No Trades InterbankFx : No Trades FxPro : No Trades Alpari UK (Mini-1) : No Trades Alpari UK (Classic): No Trades FXDD : No Trades AxiTrader : No Trades Forex.com : No Trades TRADE DETAILS: Read More...
Monitoring the EUR/USD Spread
I’ve just add a free Downloads Section. The first application I’ve published is a spread monitoring EA (SpreadWatch.ex4). It’s a useful tool that allows you to keep an eye on what your broker is doing to the spread on the EUR/USD pair during the Megadroid trading session.
You’ll be able to monitor various spread statistics including what percentage of time your broker has increased the spread beyond the crucial 2.0 pip Megadroid trade threshold.
You can also use SpreadWatch to monitor other pairs over different trading times.
Adding a new Alpari UK Classic Account
Hi everyone,
Starting next week, I’ll be trading Forex Megadroid on a new Alpari UK Classic Account.
The sales representative at Alpari has told me that the Classic and Micro accounts use the same price feed. The only difference is that the Classic accounts allow trading beyond 200k lots, with a minimum lot size and lot step of 10k, rather than 1k with the Micro accounts.
I’ve been posting results from 2 of my Alpari Micro accounts – one using the Micro 1 server and the other using the Micro 2 sever. The results have been pretty much identical. So I’ve decided to replace the Alpari Micro 2 results with results from the new Alpari Classic account from August onwards.
It’s going to be interesting to see how the Alpari Micro and Classic accounts compare.
As always feel free to contact me if you have a broker you’d like me to track.