MegaDroid Pro Review

Megadroid Pro edition is an add on to the popular Megadroid normal version. The pro version performs exactly like the normal version except for the fact that the pro version trades multi currency while the normal version only trades Eur/Usd pair.

The pro version introduces 3 more currency pairs into the Megadroid trading portfolio. These new pairs are:

• Eur/Chf
• Usd/Chf
• Eur/Gbp

If you are trading with Megadroid pro version with Eur/Usd, the backtest results generated in our opinion is exactly the same as the normal version. Pro version is not an enhanced version of the popular megadroid expert adviser. The strategy it trades with Eur/Usd is brought over to the other three currency pairs and basically strategy is left intact (certain trading parameters will be adjusted to suit each currency pair). The pro version is not for sale. You can download them only if you purchase a third-party product via their affiliate link.

Reviewed on : 25th June 2010
EA Type: Scalping Trading System
Trade : Eur/Usd, Usd/Chf, Eur/Chf, Eur/Gbp  (all 1hr  )
Price:  NA( purchased through their affiliate link)

Backtest generated with Alpari Uk:  MegadroidProStrategyTester

Initial Deposit: US $10,000
Aggressive: True
Risk Level: 0.02
Recovery Setting= True

Backtest analysis of various currency pairs

These are important ratio which a Megadroid Pro version user will consider which pairs to trade.  And these ratio are obtained by observing the 5 years (2005-2010), getting the worst possible expectation that the trading system will perform based on backtest results. eg the ratio for maximum drawdown : risk per trade. The maximum drawdown component is taken based from 2005 to 2010 (individual years) and the highest maximum drawdown is used. Like wise for the ratio ROI :  Maximum Drawdown, lowest ROI of the each individual 5 years is used so that it provides the lowest possible expectation system will achieve.

ROI : Risk Per Trade (2005-2010)
Highest ROI to 1% risk per trade is the best ideal selection. This ratio provides the trader an indication to how much ROI per year for any 1 % risk per trade.

Maximum Drawdown  : Risk Per Trade (2005-2010)
Lowest maximum drawdown  to 1 % risk per trade is the best ideal selection. This ratio indicates the maximum drawdown the user is likely to experience with 1% risk per trade. If the user has a maximal drawdown tolerance of 10%,  and the ratio for the pair is 3 : 1 , the user will use 3% risk per trade and the maximal drawdown is still kept at 9% only.

ROI : Maximum Drawdown (2005-2010)
Highest ROI to 1% maximum drawdown is the most ideal selection. This ratio indicates how much ROI to expect for 1% equity drawdown tolerance.

Maximum Drawdown (2005-2010)
Winning Percentage of Trades (2005-2010)

Average Profitable Trade : Average Loss Trade (2009-2010 tested to be most reliable for recent years)

It is like Risk : Reward ratio. How many profitable trades are needed to recover 1 losing trade.

	Eur/Usd	Eur/Chf	Eur/Gbp	Usd/Chf
ROI : Risk Per Trade	2.89 : 1	3.2 : 1	9 : 1	3 : 1
Maximum Drawdown : Risk Per Trade	8.5 : 1	4 : 1	3 : 1	4 : 1
ROI : Maximum Drawdown	0.34 : 1	0.8 : 1	3 : 1	0.75 : 1
Maximum Drawdown	17%	8%	6%	8%
Winning Percentage of Trades	91%	85%	91%	86%
Average Profitable Trade : Average Loss Trade	8 : 1	3.76 : 1	4.44 : 1	5.51 : 1
Bolded means most ideal for trading

Eur/Gbp is the best currency pair to trade and Eur/Usd is the least ideal pair to trade.

Money Management

Megadroid Pro Version EA allows system user to enter the amount of risk per trade by specifying amount in percentage risk per trade.

Ease of Use

It includes a easy-to-understand setup manual. It explains EA installation, paremeters and FAQ.

Parameter to Set:

Stealth Enabled (Default)

Broker is not informed of the true target and stop loss levels. They are managed internally by EA to reduce or prevent the effects of price manipulation by unscrupulous brokers.

Aggressive: Enabled (Default)

EA trades two strategies simultaneoulsy. (one conservative and one aggressive)

NFA: disabled (Default)

When enabled, the EA adapts its trading style to conform with rules imposed by the NFA body. Should only be enabled if trading with NFA brokers.

AutoGmtoffset: Enabled (Default)

Receipt Code

For validation purpose, to prevent software piracy.

Risk Per Trade (self-explanatory)

Recovery Mode: Enabled (Default)

Lotsize will be doubled after a losing trade until loss has been recovered. This setting is used due to the fact that Swissy EA has a high winning rate per trade.

Honest Result (Backtest comparison with forward test)

Our forward test will use same settings and conditions that of our backtest settings.

Initial Deposit: US $10,000
Risk per trade: 2%
Recovery Settings: On

It is your duty to first verify our backtest analysis with our forward test before trading live with your own money

Weakesses (if Any)

Uses same support with Megadroid. Responses from their support personnels can be quite bad.

Conclusion

8/10

Their support has not been helpful at times and users are expected to be patient when conversing with them. Salespage shows over 2000% ROI which we believe is unacheaveable and undertaking too much risk. Apart from these two points, the rest are good. A promising system if you use it with proper money management, this system is likely to serve you well.

Regards,

Warren Seah