Ensure You Get The Most From Your MegaDroid Robot...

As part of our countdown to our Forex MegaDroid live test we thought we would post two simple top tips to ensure that you giving both yourself and your trading robot the best chance of success. So here goes...

MegaDroid Top Tip 1

The Forex MegaDroid robot follows a EURUSD scalping strategy. With scalping strategies, success or failure can be greatly enhanced by the spread offered by the broker. For a manual scalping strategy, high spreads eat into the profits; for MegaDroid, high spreads mean that the robot simply will not trade!

Past experience shows that MegaDroid is extremely sensitive to spreads and if you want to get the most out of the robot, you need to be looking for a Forex Broker with a EURUSD spread of less than 2 pips. 

After having experimented with several brokers we have found that Alpari UK seems to work out best. During the MegaDroid trading window (which we cover next) the spread tends to remain fairly stable at around 1.6pips. Using this Broker not only did we get a greater number of trade entries in comparison to other brokers tried, where more than one broker traded, we tended to book more pips on the Alpari Account.

MegaDroid Top Tip 2

We were interested to note the manufacturers claims that the robot should be left to run 24 hours day. The explanation given for this is that not only can the robot trade at any point in a 24 time window, but also that it allows the robot to learn. However our experience of the robot doesn't really bear either of these claims out.

MegaDroid trades only late in the US session through to the start of the Asian session. We had no new trades entered outside of these hours and found no difference in trade results between running the robot 24 hours versus simply turning on our machine for the session. So clearly any learning that the robot gains is as a result of the trades it makes and not simply from scanning the market throughout the day.

Ok, so much of what we read is marketing material, designed to make the robot stand out from the crowd. However this is actually a positive because it puts MegaDroid in even easier reach of the beginner.

There is no need for an expensive VPS or hosting costs that eat into your profit. You can simply buy the software, install it on your pc with the 5 minute setup pledge and you are instantly ready to let MegaDroid run on your account.

Don't forget you can follow our full live Forex MegaDroid results as they happen either here on our blog or via RSS or Twitter.