2009 Archives

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As luck would have it a new forex "robot" launched to great fanfare last week.  Unfortunately apart from everything else I'm moving house at the moment, so I didn't notice all the hype accumulating in my spam folder until well after the day of the big launch.

More on Forex MegaDroid Sees Into the Future!

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Yesterday I received an email from Forex MegaDroid support.  It seems as though I'm not the only one having some trouble getting profitable backtest results. Here is an extract:

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.

More on Forex MegaDroid Users are Confused and Frustrated

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US based forex brokers that offer the MetaTrader platform will have some work to do to comply with the latest regulations from the National Futures Association, which will be introduced on May 15th.  So will the developers and users of a lot of forex "robots".

More on New Regulations Ban Hedging

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Yesterday I received another email from Forex MegaDroid support, containing what Albert and John say is "some exciting news… Version 1.10 of Forex MegaDroid is ready for release". Actually it seems it's not quite ready yet, because "we are simply finishing the updates to the manual before making it available."

More on Exciting News About Forex MegaDroid!

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I don't know about you, but when I use a forex trading robot I expect to be able to upload it to my server, set it running, then wait for it to start trading. Beyond that, I expect it to keep on trading whatever accidents might befall it, including recovering gracefully after losing its connection to the internet for a while, or restarting after an unanticipated server reboot. It seems that in the case of Forex MegaDroid this was far too much to expect.

More on Forex MegaDroid Grinds to a Halt

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Somewhat later than anticipated after my recent trials and tribulations, here are our Forex MegaDroid backtest results for April.  This test was performed using version 1.11 of the robot, since the original version now refuses to run backtests.  This test used the default input settings, with the following exceptions, mainly required because the test used Alpari UK as the MetaTrader broker, and they support micro-lots and 5 decimal places.

More on Forex MegaDroid Backtest Results for April 2009

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As we suggested it seems as though some forex brokers have complained to the NFA that they cannot implement the programming changes necessary in time for the original deadline of May 15th for the now notorious compliance rule 2-43(b).  In their new notice I-09-12 the NFA say that:

More on NFA Hedging Ban Delayed – Partly!

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In an announcement on their website forex broker FXDD say that:

In our effort to provide the best solution for your trading regarding the NFA’s new rule on hedging, please know that we have been in contact with the NFA and have offered several solutions which we believe will accommodate almost all types of trading strategies and comply with the NFA rules. Our discussions with the NFA are ongoing and we will keep you advised. In the mean time, know that FXDD is making no immediate changes to any platforms and that you will be fully advised prior to any proposed changes.

In the Frequently Asked Questions section on their website FXDD still say that:

More on FXDD Still Allow Hedging?

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As zero hour approaches FXCM are taking a different approach to the NFA ban on hedging. If you go to their website today, and wait for a while the banner will change to promote their new UK based website.

More on FXCM Promote FSA Regulated Entity

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Gain Capital are another foreign exchange broker who are now promoting their MetaTrader platform through an FSA regulated UK company. Gain have long used the FOREX.com brand in the United States. According to the press releases section of their website:

More on FOREX.com Promote Their UK Website

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