Forex MegaDroid Gets NFA FIFO Update – 7 Weeks Late!


We've finally received the email from the Forex MegaDroid team that we've been waiting for since July 5th. Albert and John finally announced in an email to their customers on September 20th that:

We have just (17:00 GMT / 12:00 EST) uploaded the latest version of Forex MegaDroid.

The new version includes:

  • a revised strategy method which has resulted in better results in
    recent testing (trade frequency has improved too)
  • NFA mode to allow correct operation with NFA-registered brokers
    who have adopted the "no hedging" and "FIFO" rules
  • remote GMT offset checking via our trade server
  • a much updated manual

Let's take a look at some of those bullet points shall we?

The MegaDroid team are still advertising on their website that their original system has had "No Losing Trade Since 20th March 2009!" How is it possible to improve on that? Maybe it's something to do with the fact that in live testing it seems to be impossible to reproduce that performance? Maybe they've come up with a tweak to try and reduce some of the big losses that we and other people have been experiencing?

Albert and John certainly seem to be admitting that their robot doesn't take many trades these days. Since we are now forced to use the shiny new version 1.20 of the Droid it seems like a good time to reveal how our live testing has been going with version 1.11 since our last update. Here's all the trades Forex MegaDroid has made on our live account so far in September:

Ticket Open Time Type Size Item Price S / L T / P Close Time Price Commission Taxes Swap Profit
xxxxxxxx 2009.09.09 00:42 sell 0.11 eurusd 1.45016 1.45353 1.44516 2009.09.09 02:00 1.45006 0.00 0.00 0.00 1.10
xxxxxxxx 2009.09.09 00:55 sell 0.11 eurusd 1.45027 1.45609 1.44427 2009.09.09 02:08 1.44943 0.00 0.00 0.00 9.24
xxxxxxxx 2009.09.16 23:00 buy 0.12 eurusd 1.47113 1.46397 1.47613 2009.09.17 00:36 1.47124 0.00 0.00 -0.07 1.32
xxxxxxxx 2009.09.17 23:02 sell 0.12 eurusd 1.47466 1.47789 1.46966 2009.09.18 00:08 1.47405 0.00 0.00 0.02 7.32

The old version of the Droid certainly hasn't been trading very often recently, but at least it's been profitable in September. Nowhere near enough to make up for last month's losses though.

Moving on to the next point – The much heralded NFA update! On July 5th the Forex MegaDroid team told us that "we're working on a new release of Forex MegaDroid that'll allow it to continue trading once the new rules take effect". On July 31st Albert and John hollered that we'd all have to "Kiss Your FX Trading Goodbye". The new NFA FIFO rules came into effect he day after that.

How on earth do you suppose all Albert and John's customers with accounts at brokers who are NFA members have managed to keep on using their beloved robot for the last seven weeks without the benefit of the brand new "NFA" system parameter setting? Maybe there are no such customers? On the other hand maybe there is no such problem.

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Comments on Forex MegaDroid Gets NFA FIFO Update – 7 Weeks Late! Leave a Comment

February 18, 2010

derrick @ 12:57 pm #

so is there any robots out there that you guys do recommend?

February 19, 2010

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