I have never really liked robots as most of them only perform well in either a ranging market or trending market and you end up getting smashed when the market conditions change.(Plus there is no substitute for educating yourself and being in control of your own trades)

So when i saw what Forex MegaDroid claimed it could do and saw that it had a 60 day Money Back Guarantee, i thought i may as well just pay the $97 USD and see for myself if it can do what it claims.

So i purchased it yesterday and i must admit it was very easy to set up and even if you haven't traded before they even show you how to set up your demo account and exactly how to place the different files for the robot onto your computer.

After 10 minutes i was set up and about 30 minutes ago it took it's first trade, here is a screenshot and i will post another screenshot when it has finished.



I will do this everyday and we will see what it does to the $20,000 demo account.

Here's the link: http://free-page.net/web/ForexMegaDroid.htm

GP

PS: I don't know if i caused it to close or not, i put a candle timer on the chart and the robot's status went from running to waiting and closed the order soon after for a 7 pip profit, i'm not sure though it may of closed it there anyway.



PPS: The support so far has been very good, i received an email today from the owners explaining the best way to get any questions answered and they explained a bit more about the robot.

This post has been edited by Yippee: Dec 30 2009, 09:57 AM

I'm really interested to see your results here Global, I think trying a new trading system on a demo account and posting the real results is an excellent idea. Is there a moneyback guarantee offered with Forex Megadroid ??

It should be interesting to see how it stacks up to there claims, the robot was only released 1 month ago and yes there is a 60 day money back Guarantee which is the main reason i decided to have a bit of fun and test it.

There was no trades over night.

GP

PS: The robot has just switched from waiting to running so i may post a trade any minute now.
PPS: After a little while it went back to waiting, so no more trades yet.

This post has been edited by Globalprofits: Apr 2 2009, 04:30 PM

Well there were no trades yesterday and i must admit that impressed me, i always stay out on the day that the Non-Farm Payrolls are announced as the market usually does crazy things.

So lets see what the robot does next week.

GP

A regularly updated live account statement for Forex MegaDroid is available here: http://fxcash.ru/statement.php?id=18


Edit: Just FYI: this link which I posted about a month ago is no longer relevant - apparently, it now shows the results for some other EA (not MegaDroid). This statement was added at the request of the poster.

This post has been edited by wealth2u: May 4 2009, 06:18 AM

Thanks bravehoststamps, have you been trading with this robot and if so how has it been going so far.

GP

Yes, I have. Made a $46 profit on a $3000 FXDD account after the first day. Will keep you posted on my progress.

That's great, feel free to post your results and screenshots of your charts or anything about the system here.

GP

Nice one GP, I too am waiting to see your results. I bought my copy of Forex Megadroid yesterday and have been getting negative or OK results from back-testing so far. Will be testing it on demo as soon as market opens. Will keep you guys posted.

One more thing. I noticed you're in VIC, I'm in WA myself. Have you compared the results and spreads on different brokers and found one that rises above the rest? (Doesn't have to be based on Megadroid alone)

This post has been edited by dryice: Apr 4 2009, 02:57 AM

One suggestion so far: it is my impression that Forex MegaDroid will work best on IBFX which has the smallest spreads on EUR/USD and a high server response speed. I will nonetheless give it a shot with a few other popular Forex brokers (FXDD, Alpari, I-TradeFX, ODL) and will post my results with them here in about a week or so. I would most definitely be interested to also see the results of other Forex MegaDroid users. That way we'll jointly determine which broker suits it best.

I tried Megadroid in IBFX broker. I've gained 44 pips after 3 days of trading. Works great so far!! I will update my progress in a month.

The three brokers I intend to test Megadroid on are as follow:

1. IBFX (as u suggest)
2. Alpari UK (has been showing me consistent good results with Fapturbo as expert advisor)
3. Forex Meta (they claim that Megadroid works best with this broker)

I do not intend to put it through any back-test due to unreliable data and ever-changing market, and also enough people have done so and majority posted disappointing results. I sure hope they are wrong..

You can be sure that they really are!

I received reply from support: They said that there is a mistake in manual, you should use "3" as GMTOFFSET when backtesting on FXDD. But other brokers use Daylight Saving Time for live, but don't use it for backtest. So all other known brokers' GMTOFFSET for backtesting must be decreased by 1 from their displayed GMTOffset.

Also they advise to download all quotes history for M1 timeframe (EURUSD) before testing.

Hey there dryice,

Sunny WA lucky you, i'm going to get over that way one day and see all the wonderful sites!

I used to trade with MB Trading but got nervous about a year ago when the meltdown started so pulled my money out, once the dust settled and it looked like governments would step in and prop banks up i decided to give IG markets a go but i am not that happy with them as they have pushed there spread out on the Aud\Usd to 4 pips which sucks and of course both of them don't use MT4.

I have just found a company which is based in Sydney which uses MT4 so i have just started the paper work with them, you can demo trade with them but to open a real account you must start with at least 10K.

You can check them out here Forex FS ( I am not Affiliated with them)

As i have only just started testing MegaDroid, i haven't had a chance to test it on different platforms but it looks like between bravehoststamps, yourself and me we will get a fair indication of which broker will perform the best.

From Monday i will be using it on Forex Meta, Forex FS and IKO FX and will keep you posted.


GP

PS: Hi there Navigator and onlinerating good to hear from you guys.

This post has been edited by Globalprofits: Apr 4 2009, 04:26 PM

Unfortunately i couldn't sign up with them, they wont accept my drivers license and insist on a passport. i don't own a passport.

BTW, these robots are meant for people who either don't have the time to trade or don't know how to trade. Manually trading one can do much much better than these EA's, because i feel every EA that comes out from their production house is targeted for the newbie audience.

But anyways one can make a million dollars over a course of a year, just earning 30-40pips a day, just as these robots show in the back testing. so its really not the pips. its the compounding MM that does the trick, if one can do more than that, like 200-300 pips a day, the time span to reach 1000k can be boggled down to just a few months