In case you did not see the post with the losing trade, I will recap the latest stats and trading results of the forex Megadroid as it trades live on my account. I started out with $266 and then I installed the Megadroid on the MT4 of my online broker and left the computer on 4 days out of the week starting April 1st, 2009. The 4 trading days of the Forex Megadroid are Monday, Tuesday, Wednesday, and Thursday. Sometimes it doesn’t even trade on Mondays.
April Trading Stats:
Total Trades Placed = 16
Total Missed Trades=1
Total Pips: 118 – 32 (stopped out trade) = 86 pips
May Trading Stats:
Total Trades in May= 11
Grand Total Trades Placed= 27
Total Missed Trades= 1
Pips Overall= 165.9
June Trading Stats
June Trades Placed= 11
Grand Total Trades= 38
Total Missed Trades= 1
Overall Pips: 245.9
July Trading Stats
July Trades Placed: 6
Grand Total Trades: 44
Total Missed Trades: 2
My account is now at $522.15. I added some money last month so in reality, the account is really at $422.15. This is how much it has grown from $266. due to the Forex Megadroid. That’s about a 63% appreciation in a little over 3 and a half months. These results so far translate into about 17% per month.
The losing trade on the 14th was huge. It took away about 15% of my account in one trade even though I have the Megadroid risk setting at 10%. The reason it did that is because it cannot decrease the trade lot size minimum ( in a mini account) of 0.1. The smallest pip move is correlated to a $1 gain or loss. So if I have a $266 account and the megadroid sets up a trade with a 90 pip stop loss and the droid gets stopped out, I lose 30% of my account because it could not reduce the lot size. It will still trigger the trade with it’s programmed stop loss amount. But then there’s a risk of losing the trade and a bigger amount than was set on the risk setting. This is the reason I created this review page of the Forex Megadroid: to find out all the little things, and to see just how much it succeeded and failed.
Some things to look at:
a) It is safer to trade using a micro account as opposed to a mini account. That way, the robot can actually trade the correct lot size for any given risk setting ie. 2%, 8%. The risk setting percentage is the percentage amount of your account that you are willing to risk in one trade if the trade goes against you.
b) There is no perfect trader, trading system, or robot. You will get stopped out and you will lose a trade eventually. The whole point is to minimize the number of losing trades and manage your money wisely when trading.
c) The Forex Megadroid has had the following winning trade percentage so far on my account: 42 out of 44 winners or 95.45%. But that’s only after 3 months and 21 days.
d) The robot has also yielded roughly 50 to 52 pips per month.
So far it’s still too early to really know the potential of the Forex Megadroid EA. I think that will be known after trading it for a year. Maybe the pip count isn’t as impressive as one might think, but I think it’s great for an automated trading software. One thing’s for sure, it’s not a scam, and I have the proof right here. That’s my review and opinion so far and it is subject to change. Believe me I will shut this site down if after a year there wasn’t at least a 10% growth per month on my account.
I still recommend that you try out and download the robot for yourself. You have 60 days to figure out if it will or won’t make money for you. That’s what I did!
For more details.