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Stu0898
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I continue hopeful. However, with this rate of trades and the average winning in pips per trade per day I wonder how this robot could reach the winning percentage obtained this year alone, according to their sales letter. Another HYPE? But on video they said it was not HYPE at all. Well, we will see.....
dito
I've just received an e-mail from them
:-* * * * * * * IMPORTANT * * * * * * *
==========================
After literally hundreds of support tickets on this subject, we have
decided to try and short-circuit the issue and simplify the process of
back-testing.
Due to the many variations in broker-end settings (server time offset,
trading times, differences in pricing and spread) coupled with the fact
that some brokers implement Daylight Saving in actual trading but do
not always apply it to their back-test data, users have experienced a
lot of confusion and frustration while attempting to produce reasonable
back-tests.
We are therefore requesting that all users follow the instructions in the
manual to download and install MetaTrader from the ForexMeta website
for back-testing purposes.
This does not in any way affect your choice of broker for forward-testing
or live-trading but will provide a consistent environment for users to
confirm performance figures.
As mentioned in an earlier update, the correct GmtOffset value for the
ForexMeta version of MetaTrader is "+3".
Regards,
Albert, John and the MegaDroid Team
I'll try a back test on Forex Meta and now and report back.
Stu0898
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I didn't actually, but then again I have grown very weary of their replies.
I'm running a backtest on a Forex Meta demo account now on 1H from 01/01/09 to date, watch this space for the results...
Extract from an email received by me today from a professional systems reviewer
A few systems making the headlines at the moment.
The ridiculously named Forex MegaDroid (Forex MegaDroid) has gone into affiliate over drive with promotions from all the usual places. I'd advise you to stay clear. Firstly none of the previous robots the same guys have promoted have come anywhere near to being as successful as initially claimed.
The usual pattern goes something like this...
Teaser promotion hinting at the automated trading robot that it launching soon with amazing results.
Robot is launched to great fanfare, but 90% of the time, there is not a jot of evidence of there being any live trading. Why is this important? Because there is a world of difference between a theoretical back test and live results.
For starters, you don't know if you past results are curve fitted. More importantly, back tests cant take into account things like spread costs which in reality make or break a system.
There's no evidence of trading in a live account with forex mega droid and the trades that I have seen look worrying. Two trades wiped out $15,000 worth of profit from $41,000 down to $26,000. That's a whopping 37% of your account blown in two trades. That's far too much risk, two more trades like that and that's over three quarters of your account gone!
A few systems making the headlines at the moment.
The ridiculously named Forex MegaDroid (Forex MegaDroid) has gone into affiliate over drive with promotions from all the usual places. I'd advise you to stay clear. Firstly none of the previous robots the same guys have promoted have come anywhere near to being as successful as initially claimed.
The usual pattern goes something like this...
Teaser promotion hinting at the automated trading robot that it launching soon with amazing results.
Robot is launched to great fanfare, but 90% of the time, there is not a jot of evidence of there being any live trading. Why is this important? Because there is a world of difference between a theoretical back test and live results.
For starters, you don't know if you past results are curve fitted. More importantly, back tests cant take into account things like spread costs which in reality make or break a system.
There's no evidence of trading in a live account with forex mega droid and the trades that I have seen look worrying. Two trades wiped out $15,000 worth of profit from $41,000 down to $26,000. That's a whopping 37% of your account blown in two trades. That's far too much risk, two more trades like that and that's over three quarters of your account gone!
bravehoststamps
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Now, that's just plain crap. Any evidence to support such claims?
Stu0898
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This can be viewed here: Strategy Tester: MegaDroid
This was done on Forex Meta as they suggest, however I'm now running the same test on Orion and will post the results as soon as they are in.
Stu0898
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Thanks for the link Paul. Very informative.
wiseman168
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A thank you to sincere legendry members who have posted on this thread with constructive advice .
Gamma IMHO you are a pathetic man with nothing of any note or interest to say but I dare say this thread has not heard the last of your unwanted and pointless posts.
Stu0898
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You don't become a legend by keeping your thoughts to yourself! ;-)
wiseman168
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So I could become a legend in my own lunch time by posting 2000 pointless pieces of drivel
Stu0898
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Backtest on Orion complete and can be viewed here: Strategy Tester: MegaDroid
As you can see quite a different result from Forex Meta (the choice of Megadroid as well as others...)
Amen, bro!
bravehoststamps
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LMAO. How come other people's backtests with FXDD, ForexMeta, IBFX, GoMarkets, I-TradeFX, Alpari UK etc. show consistent profits and yours shows a loss? Maybe, the problem is not with all these people, but with you, ever wondered?
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