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Forex Megadroid Settings

20. July 2010 11:41 | Forextc

How To Get The Most From Megadroids Settings

There has always been a bit of a criticism levelled at Forex Megadroid. Ok it may make winning trades, it may make money, it may be probably one of the best trading robots we have every used… but it’s all just a little bit boring! While it has continued to perform well on our Alpari UK trading account of late, it has hardly been raising the levels of excitement here at Forex Technical Chartist.

However to be excited by a Forex robot is somewhat to miss the point. We can point out many trading systems where the frequency of trades is high and the level of excitement also. But ultimately what matters are the results. This is where Forex Megadroid wins. It goes about its business when it sees fit. It is not trying to be exciting; only profitable.

We have read several times of traders wanting to meddle with the Forex Megadroid settings. Perhaps this is why Megadroid gets criticised as there are hardly any. Yes they are boring and the only real thing of note that can be changed is the risk profile. This affects the percentage of your account that this placed on each trade.

There are of course easy ways to ‘nudge’ the robot to trade more frequently and bring about some more excitement. The simplest way is to open multiple 1 hour charts and configure them at a GMT offset to the main chart. This effectively fools Megadroid into looking for trading opportunities either side of its standard window. Using 3 charts (one at default) and one either side with a +2 and -2 hour GMT offset is probably one of the better configurations we have used and will certainly see more trades triggered.

But then surely this misses the point of buying a commercial Expert Advisor. You don’t buy a car and then reengineer it yourself, so why would you buy this robot only to spend time configuring the Forex Megadroid settings yourself?

Sometimes being boring and following a slow steady path is the way to results. We do of course still love the Trend OSOB EA we have been reporting on. But we have to say we are still getting to grips with it. Even after adding the adjustments we mentioned in our previous post we've still seen 2 losses since our last update. So despite also recording a good number of winning trades, we remain on the poorer side of break even over the last two weeks. We are however still up since testing began.

No such losses with Forex Megadroid however. Just plain and boring Forex Megadroid settings out of the box. Perhaps now it is timely to recall the story of the Hare and the Tortoise? I think we all know the answer as to who won that race. Go buy a Mega tortoise and you’ll win the race in the end.

Read Our Full Forex Megadroid Robot Review >

Live Forex MegaDroid Testing Preparing to Commence...Our Forex MegaDroid live account test is due to commence on Monday 3rd May 2010. During the course o...Week 1 - Forex MegaDroid Live Test UpdateA pretty crazy week in the markets! So time to update on how MegaDroid has been getting on. Only tw...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 ti...

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8/6/2010 9:36:32 AM #

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8/12/2010 8:31:50 AM #

So is this right. I don't need to change any settings but just run more than one chart for Megadroid?

Geoff |

8/12/2010 11:47:57 AM #

Hi Geoff.

Yes. Although many Forex Megadroid robot reviews will not tell you how to.

You need to open up an additional EURUSD 1 hour chart and apply the Forex Megadroid EA to the chart. There are only a couple of settings that you need to change. The Forex Megadroid settings are simple so you should find them easy to find.

The first is the time settings Set AutoGmtOffset to false for all charts. Set your first chart to GmtOffset 0* and your second chart to GmtOffset 2*. This makes Megadroid look for trades in two time windows. You can of course add a third of forth chart if you want it to trade more. Make sure you check with your broker brokers time offset first as the 0* and 02* settings need to balance with your brokers time.

The second Forex Megadroid setting you will need to change are the S1_Reference and S2_Reference numbers. These will need to be unique 8 digits numbers for each chart.

This will get your Megadroid robot trading more! But as we mention above we prefer to stick with the default setup which continues to perform well for us.

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