Welcome back MT4 fans. Here's a weekly update on Meta-Trader accounts i'm following.Megadroid demo continues to lead the pack and picked up 21 pips on the week and is up a smoking 18.11% for the year. This account performance is well exceeding my 1% a week goal.
Megadroid live, on the other hand, continues to disappoint and last week picked exactly 1 pip, or 90 cents. This is the second week in a row that Megadroid live took home one pip while the Megadroid demo took home 21 pips in one 10-pip trade and one 11-pip trade.
Before I complain too much, I would say that not trading or taking small gains is better than any type of loss. It's also worth pointing out that both Megadroid accounts only have one loosing trade for the year. Megadroid demo has only 1 loser of 35 total trades, and Megadroid live has only 1 loser in 21 total trades. That an impressive result for any trading system in my humble opinion.
Digging into what's going on with Megadroid live, Meta-Trader MT4 saves the contents of the Journals tab into a file found under .\Experts\Logs folder named according to the date. So let's take a look at 20100323.txt, the file from this past Tuesday.
Its clear from the review of the file that Forex.com is widening the spread to 5 pips at key times during the trading window, and that is defeating the Megadroid live. Since Megadroid has a 10-pip profit target, its also clear that a 5-pip spread on either side of the trade will eat up the better part of a 10-pip profit target.I look a look a similar files for Megadroid demo and found no evidence of spread manipulation.
In terms of what can be done about this, I can't really blame Megadroid since their system is trading with deadly accuracy on both the demo and live accounts. Is there a broker around that will trade Megadroid without manipulation? I'll check with the Megadroid support people to see of they have any suggestions. If anyone reading has any suggestions, let me know.
In terms of the God's Gift EA's GBP/USD picked up 16 pips on Thursday 3/25. But it gave it back on Friday 3/26 with a 70-pip loss leaving GG GBP/USD +2.8% for the year. God's Gift EUR/USD picked up 12-pips but remains down -1.73% for the year.
That's enough for now and check back later in the weekend for back-test results from the Watukushay Expert Advisor.
Holy crud man,
ReplyDeleteThis does scare me a bit. Actually ticks me off a bit too. Such manipulation... I wonder how much effort and time these brokers go through to counter many trading robots out there like this. It may only be because Megadroid is a scalper and I know brokers do not like the scalping. Manipulating longer term strategies and strategies that take larger gains may not be as easy to manipulate. However, you never know. If I were a trader that had enough money to open many lots on a trade that could result in a $10,000 gain or loss would the broker go out of their way to stop me out just to take 10K from me? I have read some insight on Daniel's blog that would suggest that this would not be the case, but... anything is possible.
At any rate this is a good eye opener to the possible actions brokers take for scalper EA's.
Great post Chris
JT
JT-
ReplyDeleteRight all around. I put in a ticket to the Megadoid people to see what they suggest. In their manual, they mentioned an outfit called http://www.forexmeta.com. It will be interesting to see what they say.
In the end, I suspect will find out shorter-term systems don't execute as well in the real world as in backtesting and longer-term systems are the way to go.
Chris
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