Week 1 - Forex MegaDroid Live Test Update

A pretty crazy week in the markets! So time to update on how MegaDroid has been getting on.

Only two trades this week. Both were on Wednesday and both closed out for a TP of 10 pips - so a nice 20 pips profit recorded this week

We only ran MegaDroid Mon,Tue,Wed this week, turning the robot off on Thurs due to the UK election (volatility rise in markets) and of course Friday (US Non Farm Payrolls). MegaDroid tends not to trade on Fridays anyway as the volume falls away on Friday evenings. This means we only physically fire up early Monday evening through to Friday morning.

This is another tip we have found when using MegaDroid. While the robot is designed to run 24 hours we tend to apply some due diligence as to when we run it. While of course we like technical analysis, there seems little point in running the robot when there are obvious fundamental risks in the market. MegaDroid can't cater for these risks so this is where we intervene. This is why the system developers advise not trading NFP's and Fridays. Ok so we may book pips more slowly but thats fine. Despite the hype MedaDroid is not really a double your money overnight type of robot. It is a steady earner.

So if there is one criticism of MegaDroid it's that it doesn't trade enough. Depending on your trading view this can be either a good or a bad thing. But there are ways to get MegaDroid trading more frequently... and next post we will be looking at some simplel ways to set up the EA to enable MegaDroid to find more trade entries.

We have also been using another EURUSD EA for the past couple of weeks which is similar to MegaDroid but trades a much wider timeframe. We'll be putting up some stats on that in the coming weeks also.