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Forex Megadroid
27
Nov
Donna’s Review:
Megadroid is a scalping robot which trades on the EURUSD currency pair only. By default, it trades during the Asian trading session only. It uses dynamic stoplosses and take profit values which can vary depending on the market conditions.
We started trading Forex Megadroid live on 29 June 2009 with Alpari UK. We began with a very small £200 account, which traded quite well so we added an extra £2,000 on 1 September 2009.
On entirely default settings, Megadroid is pretty unremarkable and doesn’t trade very often at all. I found that we were getting around 2 to 3 trades a month. They were good trades, just not very frequent. We devised our own Megadroid strategy at this time which exploited an unusual quirk of Megadroid on different timeframes to produce trades on almost every trading day. We used this method for a short time before moving over to settings provided by Ben from www.droidtactics.com which we have now used for some time (since at least the middle of September 2009).
Update 4 February 2010
Forex megadroid has made a steady profit since the 1Seprember 2009 when we topped up the account to £2200 in fact it has made £820.86 an increase of 37% over a 5 month perod.
On 29th September, we added to our live Megadroid account, the pairs EURCHF and USDCHF which are traded by the “pro” version of Megadroid. This pro version was only released to traders who purchased Evolution via certain affiliates at that time. They are currently running on our live account although are not responsible for the overall majority of our profits which definitely comes from the original Megadroid (with droid tactics settings).
Unfortunately, at the time of writing this review, Droid Tactics is not available for sale. Members of donnaforex.com can view my alternative strategy in the members area Megadroid page which should have a similar effect although using a very different method.
Overall, i am very impressed with Megadroid and it has proven itself over a fairly long period of time to be consistent and profitable with real money accounts. The creators have a long way to go in maximising Megadroid’s profits and as i mentioned, on default settings it is hardly impressive, although it makes good trades nevertheless.
This robot is our number one preferred robot at this moment in time based on its consistency and long running gains.
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Donna, I've been following you since Jan 09 on the FAB Turbo forums etc. Your energy and patience answering all those repetitive questions from newbies (such as myself), month after month has been exceptional, and what you are doing now is great.
Your straightforward approach to Forex trading with EAs is a breath of fresh air. I really like the simple black and white approach to the website as well.
Bob
24 Comments
Hello Donna,So is your Forex Megadroid still working well(profitable)and is it still producing trades almost every trading day? Thank You! Richard,
Yes, Megadroid is working very well for us still, check out our account stats for our live account. We did have a losing week last week but this was because of Megadroid Pro, not original megadroid.
Donna, are you recommend to add in Droid Tactics?
Yes, i trade using droid tactics settings (see here). Unfortunately it is not currently for sale, although i heard rumours it may be shortly. Note i cannot give an explicit recommendation as to what you should trade since this will be individual to yourself (and for legal reasons) however i can say that on my account i am very pleased indeed with it.
Donna
Donna
Does Megadroid work on imac or is it windows only? I have read through the Megadroid website but cannot find any reference to software requirements or a way to contact them to ask.
Thanks
Paul
Paul,
Megadroid only works on Windows computers (which is the same for nearly all forex robots as they use metatrader). You can run it on a mac but not owning one i’m not sure how it is done, i think there is a windows emulator, or program of some kind that you can buy which will allow you to run windows programs via your mac. A cheaper option and more convenient in the short term would be to just get a VPS.
Donna
Hi,
I have a Mac and the Windows Emulation is by VMWare and is called Fusion but you also need to buy a copy of Windows and most people still use XP because of its stability. I tried Fusion and hated the performance sapping it caused so decided to buy a PC just for Forex (there are some good deals out there). This way I can protect my beloved Mac and keep any nasties on the PC!
Hope this helps – you can find more about Fusion on the Apple website.
Hi, what is the recommended setting & broker?
Tipu,
I use Alpari UK for my megadroid and it works fine so far.
The best settings unfortunately are not for sale right now (droidtactics.com). Since these are not available, the best would probably be default settings although it will not trade anywhere near as frequently using defaults. I would encourage you to explore various options for adjusting GMToffsets slightly and getitng it to trade at different times, etc, just experiment with backtests and you should be able to find some other settings of your own which will work and add additional trades.
For more advice, help & support you will need to join as a member on my site where we can email back and forth in more depth and be of better help.
Hi, what settings are you using with droidtactics ? Overlap, Unified or Hybrid ?
hey donna~
I saw this sale for droid tactic in this website.
can u verify is it real? **link removed**
No, that is not for real. That site is selling software/products illegally from the looks of it.
To expand on the Question about trading on a Mac. I have a Mac and use Parallels on my Mac to run windows programs. The Parallels platform allows you to install windows on it. So I can run Metatrader, EA’s and any other windows program I desire.
I’ve been trading for over 1.5 years on the Mac and have not had any problems. Actually I’m finding it more stable then native windows pc.
Btw I am running XP on my Parallels.
Hi, where can I see the live stats for the Megadroid? Thanks
Live stats for megadroid are HERE (click link to mt4i stats)
Donna,
Are you providing a rebate for this MD program?
If so where do I get the code
Thanks
Donna , do you have recommended settings for fapturbo v 49 for scalping and long term
thx
Hi Donna,
Where should I find the MD settings you were mentioned below, please? I am a member but I did`nt find it anywhere.
“Members of donnaforex.com can view my alternative strategy in the members area Megadroid page which should have a similar effect although using a very different method.”
Thanx for a great site and an excelent work.
William
Feel free to email me on the members email address for help and support with settings.
Hi Donna, Would the new fapturbo 50 version be ok for a beginner using a vps service??? Great site for me and all beginners!!! Forrest
Yes, FAPTurbo is not too bad for a beginner, although you should just ignore most of the settings in their list to begin with and just run it using default settings (!). If you have a good VPS provider then they may be able to help you with setup too if you run into any problems.
Donna,
I am considering the purchase of Megadroid.
Looking at your live stats mentioned above, I filtered out the non-EURUSD results. This should represent Megadroid results and not the pro version, correct?
Yet, I noticed that since October 2009, the nett P/L is negative! Am I missing something? So why would you rate this robot so highly?
Thanks for your response,
Corrie.
The review was written at a time when our account had made very good gains (i believe in excess of 50%) Since that time the robot stopped performing so well, in part due to an alternate strategy we implemented and not directly down to Megadroid itself.
hi,
i currently own fapturbo and its support is really bad.. i am not a pro in forex.. just a beginner and not willing to spend more money on support etc etc.. is there any other way in forex to make a descent amount of money?
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