Foreign Exchange Robot: Forex Megadroid
Software Programmer: John Grace / Albert Perrie
Scalping: Using RCTPA (Reverse Correlate Time and Price Analysis) in the H1 timeframe
Forex Pairs: EURUSD only
Trading Platform: MetaTrader-4 / ZuluTrade
License: 1 Real Account License
Pricing: 82 USD
INTRODUCTION TO FOREX MEGADROID
The Forex MegaDroid is a Forex Robot scalping exclusively EURUSD. The robot was initially released in 2009 by John Grace and Albert Perrie.
Here is the live performance of the EA (MYFXBOOK)
FOREX MEGADROID ALGORITMH
The Forex MegaDroid uses the RCTPA, which means Reverse Correlated Time & Price tag Evaluation. RCTPA is designed to trade any market conditions using the H1 timeframe. The RCPTA allows trading in any market conditions using a loss-minimization strategy.
FOREX MEGADROID PARAMETERS
The Forex MegaDroid adjust continuously its parameters according to the evolving market conditions. Here are some important default settings:
(1) Stealth Mode = True (the stealth mode is designed as a tool of avoiding price manipulation by a Forex broker)
(2) Slippage = 3 (That parameter controls the maximum accepted difference in pips between the price that a trade is placed and the actual price of execution)
(3) Lot Size = 1 (sets the maximum accepted lot size)
(4) Risk Level = 0 (it shows the percentage of the account’s balance that can be used for the next trade, if risk level is 0.05 then 5% of the total account’s balance if risk level is 0.1 then 10% and etc.)
(5) Recovery Mode = True (if true the robot will double the lot size in order to recover losses. This will happen until it achieves the pre-loss balance amount)
Automated Forex Trading is a complicated process that requires the best combination of hardware and software plus a very competitive ECN / STP Broker.
Before trading for Real Money, apply historical back-testing on any Automated Forex Strategy that you are about to implement.
Trade on a Demo Account before moving on a Live Account. When you start using your Forex Robot, dedicate an exclusive Live Account for it and don’t mix any manual activity in the same account. Running your Forex Robot on a Forex VPS hosting always makes things easier and generates more reliable results.