I received another update email from the Albert Perrie & John Grace team at Forex MegaDroid. First they have what appears to be live trade updates posted here. It shows positive trades so I am wondering why mine has yet to make a trade.
In addition their email lists answers to what I am sure are questions they are receiving. Here’s part of the email.
We have some more updates for you today – for those who did not see
yesterday’s update, we have repeated it below today’s update.
1) MegaDroid trades ONLY the EURUSD currency pair – we suggest
that you run it on the 1H chart timeframe as shown in the manual.
Please do not confuse the term “multi market condition” (meaning
varied market situations – trending / ranging / volatile / non-volatile)
with “multi currency” (meaning a variety of currency pairs).
2) Forex MegaDroid does NOT trade on Fridays, Sundays and
Holidays.
3) If running back-tests with FXDD or ForexMeta then the GmtOffset
currently should be set to 3 – this is different to the value in the manual.
4) “Error 2″ – this means that you have entered the wrong (or forgotten
to enter!) the ReceiptCode.
5) “Error 1000″ – if you see this error displayed on the chart, please
send a screenshot to our support team. You can raise a ticket by
going here:
I appreciate the updates and answers. They now address the EURUSD only issue, the fact that Forex MegaDroid does not trade on Fridays and Sundays, that’s new info for me, and a couple error codes.
It also suggests setting the chart time frame at 1H. It suggests this setting. What effect will a 1M or 4H setting have on results?
No related posts.
Related posts brought to you by Yet Another Related Posts Plugin.
April 4th, 2009 at 12:05 pm
Megadroid’s so called ‘live trade updates’ is nothing more than backtesting results up thru 2 Apr 09. They have yet to provide any forward testing (ie, actual, live trading) results of their product.
While their EA may (not?) function as hyped, their ongoing attempts to push backtesting results off as ‘live trading results’ is … under-handed? … less-than-honest? … questionable?
April 5th, 2009 at 6:38 am
Agreed.
Backtesting is a good tool but nothing to stake your rep on. Forex MegaDroid is too new to know if it functions well or not and I have yet to find anyone else who has purchased the bot and is reporting on live results.
My profession is Marketing and any time such hype is given to a product I get skeptical. Especially when it is web driven with JVx and affiliates.
I own it, I’m testing it on two demo accounts and will probably go live this week. I’ll post my results as they come in.
April 14th, 2009 at 10:40 am
There is a solution for error 1000 here: http://forexspy.net/megadroid-how-to-fix-error-1000/
April 14th, 2009 at 10:49 am
Thanks for the info. I got it fixed but this will help if it happens again.
April 23rd, 2009 at 2:24 pm
Forex-Noob says: It also suggests setting the chart time frame at 1H. It suggests this setting. What effect will a 1M or 4H setting have on results?
These settings have no effect at all on results. These are settings for the chart on the screen.
April 23rd, 2009 at 2:52 pm
Peter,
I’m not sure what effect different time periods will have on results. I do know that FAPTurbo will only work on 15M, the long term strategy on EURUSD being the exception at 1M.
It is worth testing MegaDroid on different time periods. Right now I am running it as specified to give it the benefit of any doubt. I’ll play with other times later.
Have you tried it on other time periods? What were the results?
FYI, I inadvertently placed Droid on a USDCHF chart. I received no error and it seems to be functioning normally. We’ll see what happens.
April 30th, 2009 at 11:04 am
I don’t understand why Forex Megadroid only trades EUR/USD…since it seldom trades…then it should take advantage of more currencies…for ie: EUR/USD and GBP/USD are highly correlative…so you can trade both of them…