Forex MegaDroid

[Trader333]

And what losses did you incur?

I didn't but plenty of others have and I can tell from the way this system trades that it has not been put together by a real trader.

How hugely does it distort the reality? Any proof for such claims?

I have used Tradestation in the past to backtest numerous mechanical trading systems before MT4 ever existed. I was able to come up with a strategy to trade the FTSE 100 that from my back tests would have given a profit of over £4M from a starting bank of just £10K. I posted the results on this forum that showed all trades with exact entries and exits.

However, in reality this was untradeable and the main reason was that it takes the last traded price for all entries and exits as do all the MT4 expert analyser back tested systems. This is because there is no record of the Bid and Ask prices at point of execution and as such the only option is to use the last traded price. It is the same with all demo accounts and is a key reason why many people who are profitable on demo accounts lose hopelessly when they trade real money.

In fact this discussion has made it clear to me that there is easy money to be made in this and I have previously used Clickbank to publish some of my own products. You have convinced me to write an EA and go ahead and market it. I will use the same approach as all the others, ie just come up with anything that I can make look profitable by backtesting and optimising. It will take me less than 1 day to come up with a system to do this and I know enough about writing code and have enough contacts to produce this. I will do it all anonymously and will not promote it on here but I know that someone will start a thread about it, probably an affilate and I will just sit back and watch. I will then pull the product and after enough time has lapsed I will own up.

This literally is money for nothing.


Paul

 

[bravehoststamps]

I didn't but plenty of others have and I can tell from the way this system trades that it has not been put together by a real trader.

Who are these "plenty of others"? Where can I see their statements? So far, the reports on MegaDroid have only been positive.

 

[bravehoststamps]

THOSE questions! Sensible ones. About the system and the way it's trading. Which no-one seems to be able to answer, and which any half decent trader would DEMAND an answer to before investing so much as a nickel.

What prevents you from contacting MegaDroid's team with your questions directly?

 

[bravehoststamps]

Just discovered one interesting thing: Forex MegaDroid employs a "stealth mode", which makes it absolutely invisible for brokers. Therefore, brokers cannot even tell the trades were placed by a robot, not to mention determining which robot it was. As a result, you can safely use MegaDroid with ODL and other brokers that do not favor scalpers and openly state so on their sites.

 

[Trader333]

As a result, you can safely use MegaDroid with ODL and other brokers that do not favor scalpers and openly state so on their sites.

Do you really think that these brokers wont notice ongoing scalping whether it is initiated by humans or a robot ?


Paul

 

[bravehoststamps]

Do you really think that these brokers wont notice ongoing scalping whether it is initiated by humans or a robot ?


Paul

They won't be able to detect a robot. Human scalping is not prohibited.

 

[bravehoststamps]

All right, so I've now figured the mechanics behind MegaDroid's stealth mode. I was a bit wrong initially - brokers will be able to see that the trades were performed by a robot. However, and most importantly, they will not be able to tell which robot it is, as long as you keep changing the magic number of the EA every once in a while. Since the trades are not too frequent, this trick will leave the brokers largely confused and therefore prevent them from harming you. The only thing they would be able to do is to ban the use of EAs on their accounts completely, but that would pretty much mean going out of business for them after losing a good half of their customers this way.

 

[jaet1989]

And when a batch of trades at the same time placed on the EURUSD, I am sure the brokerage's may suspect! and just to clarify the robot is in no form a scalper! trades of 1hr -+ do not qualify as scalping people. However the robot seems to be rather good, ECN may be beneficial with a bridge connection to mt4.

 

[bravehoststamps]

And when a batch of trades at the same time placed on the EURUSD, I am sure the brokerage's may suspect! and just to clarify the robot is in no form a scalper! trades of 1hr -+ do not qualify as scalping people. However the robot seems to be rather good, ECN may be beneficial with a bridge connection to mt4.

The question is not whether the brokers will suspect anything, the question is what they will be able to do about it - nothing, that is. Yes, you're right - the EA is not a conventional scalper, which makes things even harder for the brokers.

 

[Trader333]

the EA is not a conventional scalper, which makes things even harder for the brokers

Well that is certainly true as according to one review I read it stated that it made only 34 trades in 3 years with average profit of 10 pips per trade. It places so few trades that it cannot be classed as any form of scalper and as such no broker would be in any way concerned about it.


Paul

 

[bravehoststamps]

Well that is certainly true as according to one review I read it stated that it made only 34 trades in 3 years

That review is certainly a cheap lie and any actual user of MegaDroid can attest to this fact.

 

[zupcon]

Just discovered one interesting thing: Forex MegaDroid employs a "stealth mode", which makes it absolutely invisible for brokers.

Well apart from the fact brokers see exactly how a trade is being placed, either from the MT4 user interface or via an EA. The broker even has the option of disabling EA's

Research clearly isnt your forte

 

[bravehoststamps]

Well apart from the fact brokers see exactly how a trade is being placed, either from the MT4 user interface or via an EA. The broker even has the option of disabling EA's

Research clearly isnt your forte

Please, see here: http://www.trade2win.com/boards/forex-strategies-systems/57428-forex-megadroid-29.html#post740882

 

[bravehoststamps]

I would also like to caution those who are tempted to use and/or distribute illegal copies of Forex MegaDroid mistakenly thinking that there is no way for the robot's developers to find out about it. They might do it selectively, based on the CB receipt numbers - once they notice that the same CB receipt number is being used for authentication by many users. Likewise, they might track down only those users whose CB receipt number is used for authentication by others. They won't need to obtain any information from the user's computer for it - it is enough for them to look up the info in their sales database.

 

[Trader333]

That review is certainly a cheap lie and any actual user of MegaDroid can attest to this fact.

The review didn't say anything negative only that it takes very few trades.

I would also like to caution those who are tempted to use and/or distribute illegal copies of Forex MegaDroid mistakenly thinking that there is no way for the robot's developers to find out about it. They might do it selectively, based on the CB receipt numbers - once they notice that the same CB receipt number is being used for authentication by many users. Likewise, they might track down only those users whose CB receipt number is used for authentication by others. They won't need to obtain any information from the user's computer for it - it is enough for them to look up the info in their sales database.

Based on this post I think it is reasonable to ask if you are either the author or one of the team or maybe an affiliate ?


Paul

 

[bravehoststamps]

The review didn't say anything negative only that it takes very few trades.

Definitely not that few.

Based on this post I think it is reasonable to ask if you are either the author or one of the team or maybe an affiliate ?

Neither. I might eventually start an affiliate promotion of this robot once it proves to be successful over time - but definitely not in my forum posts.

 

[Lightning McQueen]

Agreed T333, looks very familiar with the ins and outs of megadroid.

helpme1 appears to be on the case over at the talkgold forums, rather a good detective, whether it has any foundation I will let you all make up your own minds, starts on page 2, gets going proper by page 3

Forex Megadroid - Forex-megadroid.com - Page 2

 

[Lightning McQueen]

I might eventually start an affiliate promotion of this robot once it proves to be successful over time - but definitely not in my forum posts.

not here you wont

 

[bravehoststamps]

not here you wont

Is not that what I said?

 

[Lightning McQueen]

Is not that what I said?

Just making certain