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10Sep

Setting the Forex MegaDroid parameters

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Every Expert Advisor has its own parameters, initially set to default values. Parameters are usually described shortly in the EA’s manual, but we will try to research them as deep as it is necessary in order to catch the idea and learn how to change their values to achieve better earning performance and minimize a loss risk.

At the picture below you can see the Forex MegaDroid 1.21 parameters. Let’s break down the most essential of them, which influence a trading process.

set_md

Stealth. If false, MD sets associated SL and TP values for all trading orders. If true, MD uses hidden SL and TP, controlling the price continuously as long as an order is open. Stealth mode helps to avoid price manipulation by a broker, but may increase a loss (as well as a profit) due to a system failure or network connection interruptions and following unavailability for MD to close an order on schedule.
Aggressive. There is no exact explanation for this parameter, but it is known that aggressive strategy forces MD to trade in a little more risky way, and therefore to trade more, than the conservative strategy only.

NFA. If true, MD forced to adapt its strategy to “FIFO” (no hedging, no SL/TP) restriction, provided by some NFA-regulated brokers. (NFA – National Futures Association). However, a majority of the NFA-regulated brokers don’t apply NFA restrictions in fact. Make sure your broker does not really allow hedging in order to apply this option!

Slippage. The maximum difference in points between the expected price and the actually offered by the broker, that MD will accept to confirm an order. Due to execution delays MD may do not trade for one or more days long. However, increasing this value will decrease an absolute profit of the trade respectively.
LotSize. The lot size MD forced to trade with, as long as the “RiskLevel” parameter is set to zero (turned off). Wrong (too high) value may lead to a margin call, once there is not enough funds at your balance in order to cover the margin during the unfriendly market trend.

RiskLevel. Reflects the percentage of your current balance amount, that MD will use for the next trade. 0.03=3%, 0.25=25%, 0.9=90%, and so on. Although this value limits the maximum amount, that can be lost in the case of reaching Stop Loss, it may still lead to a higher loss due to a system failure or network connection interruptions and following unavailability for MD to close an order on schedule. This value also determines the scope of your profit, in fact.

RecoveryMode. If true, MD will trade double lot size in order to recover from a loss until gets back to the pre-loss balance amount. That’s why you should always maintain some reserves at your account.
For the conclusion, it should be noted that successful automated trading depends mainly on the appropriate robot’s settings, and the Forex MegaDroid robot will be very powerful mean in the proper hands, in order to gain a huge revenue.

3 comments |

Comments so far.

  1. Posted by davit on Sunday 23rd January

    I feel that this is extraordinary, playing the forex is the thing that I liked.
    thanks for sharing

  2. Posted by Aslam on Saturday 26th March

    Hey this is good. Thanks.
    Do have the settings for the Megadroid Pro series????
    Can I egt to see them???

  3. Posted by admin on Wednesday 30th March

    What exactly do you need for MegaDroid Pro? If you need a risklevel setting, you should use the same as in original MegaDroid EA.

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