The Forex Megadroid trading robot has taken the forex world by storm as supposedly the most advanced automated forex trading software in the market. The sales page posts incredible claims of returns and trading success percentage. Because of the incredible marketing launch of the robot, a big buzz has been building, and a plethora of review sites have come onto the web. But it's obvious when browsing through these that most of the "review" sites are merely sales pages. Most of the people that made these sites haven't really given a trade-by-trade review because most of them just want to sell the robot. Also, the claims on the company's sales page is information gotten through back testing the robot, and is of course, also biased. So the question that really remains is "does the robot really work?"
Before we get into it, here's a little bit about the Forex Megadroid and automated forex robots.
About The Forex Megadroid
Forex trading robots or expert advisors have been in vogue as of late because of the potential promise and benefits they offer. In theory, sophisticated forex automated trading software can analyze the market all they long, and then automatically get in and out of a long or short position for a winning trade. And this is done totally mechanically, with no human emotions of greed or fear. You simply set the risk settings and let the robot do its thing. This is the theory.
The basic tenets of forex market wisdom still apply even to a machine. Two of these tenets is: nobody (human or machine) can predict the forex market and you will have drawdowns or losing trades. Successful trading happens when the losing trades are minimized and your account is managed in a disciplined manner. Therefore, a lot of these robots have been known to wipe out accounts in just a few trades because they were not sophisticated enough to handle very different and changing market conditions.
Automated trading technology is relatively new. And like all new technologies, they evolve with time. The Forex Megadroid automated robot is the latest in the evolution of these robots. The makers of the robot boast that it uses a new type of expert advisor technology called Reverse Correlated Time and Price Analysis or RCTPA for short. This technology, according to them, gives the robot the ability to trade in different and changing market conditions. And they also boast a 95.82% success rate in trading. Obviously, this all simply sounds like hype.
So, Does The Forex Megadroid Work?
This expert advisor was found to work for many traders and not just the makers of it. The robot uses a scalping technique to gain pips. It only trades with the EUR/USD pair, and it waits until volatility within the pair is diminished before it places a trade. Once it does, it only gains a small amount of pips, about 15 at the most. But it does it every day for 4 days a week.
We at Forex Megadroid FX can't really speak for anyone else's experience. You can see exactly what the winning outcome has been with the Forex Megadroid on our account since April 4, 2009. See for yourself at Forex Megadroid Review and you will find our daily trading recap with video as well as: number of total trades, winning trades, success percentage and pip count. It is set up on a really modest account with only $266 to start. This isn't some gigantic $20K account where losses can be absorbed. We wanted to know if the Forex Megadroid was going to work for the very "little guy" as well. We hope this article helped.
A real trade by trade summary on the Forex Megadroid can be found at:
http://www.forexmegadroidfx.com/Realtimereview
Simply go to the "Forex Megadroid Daily Performance" category. We wanted to know if the robot worked, but we also want to know if the robot will work consistently for not just a few months, but for a whole year. At Forex Megadroid FX the test will be ongoing.
Article Source: http://EzineArticles.com/?expert=Jose_D_Martinez
Before we get into it, here's a little bit about the Forex Megadroid and automated forex robots.
About The Forex Megadroid
Forex trading robots or expert advisors have been in vogue as of late because of the potential promise and benefits they offer. In theory, sophisticated forex automated trading software can analyze the market all they long, and then automatically get in and out of a long or short position for a winning trade. And this is done totally mechanically, with no human emotions of greed or fear. You simply set the risk settings and let the robot do its thing. This is the theory.
The basic tenets of forex market wisdom still apply even to a machine. Two of these tenets is: nobody (human or machine) can predict the forex market and you will have drawdowns or losing trades. Successful trading happens when the losing trades are minimized and your account is managed in a disciplined manner. Therefore, a lot of these robots have been known to wipe out accounts in just a few trades because they were not sophisticated enough to handle very different and changing market conditions.
Automated trading technology is relatively new. And like all new technologies, they evolve with time. The Forex Megadroid automated robot is the latest in the evolution of these robots. The makers of the robot boast that it uses a new type of expert advisor technology called Reverse Correlated Time and Price Analysis or RCTPA for short. This technology, according to them, gives the robot the ability to trade in different and changing market conditions. And they also boast a 95.82% success rate in trading. Obviously, this all simply sounds like hype.
So, Does The Forex Megadroid Work?
This expert advisor was found to work for many traders and not just the makers of it. The robot uses a scalping technique to gain pips. It only trades with the EUR/USD pair, and it waits until volatility within the pair is diminished before it places a trade. Once it does, it only gains a small amount of pips, about 15 at the most. But it does it every day for 4 days a week.
We at Forex Megadroid FX can't really speak for anyone else's experience. You can see exactly what the winning outcome has been with the Forex Megadroid on our account since April 4, 2009. See for yourself at Forex Megadroid Review and you will find our daily trading recap with video as well as: number of total trades, winning trades, success percentage and pip count. It is set up on a really modest account with only $266 to start. This isn't some gigantic $20K account where losses can be absorbed. We wanted to know if the Forex Megadroid was going to work for the very "little guy" as well. We hope this article helped.
A real trade by trade summary on the Forex Megadroid can be found at:
http://www.forexmegadroidfx.com/Realtimereview
Simply go to the "Forex Megadroid Daily Performance" category. We wanted to know if the robot worked, but we also want to know if the robot will work consistently for not just a few months, but for a whole year. At Forex Megadroid FX the test will be ongoing.
Article Source: http://EzineArticles.com/?expert=Jose_D_Martinez
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