Trading Software At Its Best

The Forex MegaDroid has been developed by John Grace and Albert Perrie. Both are forex traders with 38 years 4x trading experience between them. As close friends, over time they firmed up their thoughts about developing their own 4x trading software robot.

Sadly the Forex MegaDroid has a horrid sales page like all the others do - which initially was a big turn off for me.

It's exactly the look and feel you'd expect from a used car salesman with sleazy tactics. It is so tacky that I expected to be reporting here that their 4x software product is a disgrace. But during my research of them, I was forced to reconsider my first impressions. The proven, ongoing live testing results confirm this.

In all of the live-account testing I have seen, there is no question that it performs exceptionally well. They claim better than a 95% successful trade rate - which I doubted very much - but it's true. I have seen the proof many times.

Visit Forex Robots Reviewed by clicking the link below to see links to live 4x trading accounts of this 4x software in action.

This guy bought his MegaDroid, installed it easily, and opened live forex trading accounts with 3 different brokers. In each account he put $3,000. From each account ID, he gave his MegaDroid the data feed from each broker. The robot can then execute trades on his accounts.

He set his limits of risk he was happy with per the training. And then he sat and watched. He is a novice trader. He has just started out. He did nothing more than install it, set it on the default risk levels. Then he just watched and let it do its thing.

At the time of writing that review (May 14, 2009) - his 3 different broker accounts (using the one copy of MegaDroid) had made 37 trades.

Of the 37 trades, 36 made a profit - only 1 trade lost money - $7.36. For the 24 days trading till just then (on fully automatic) - his net profit is $1,067.15.

I am impressed by that. As of May 14, 2009 that's 97.3% profitable trades.

Also it is important to note the $/trade profit versus the $/trade loss. The 36 profitable trades were for an average of $29.85 profit each trade. As said, the 1 losing trade was for $7.36.

So, that's 36:1 profit to lose ratio on the number of trades. And a 4:1 ratio on the size of profits compared to losses.

My view is that even if a trader was expert and smart enough to do what the MegaDroid has demonstrated here, no human could concentrate long enough and consistently enough to match the performance.

Still not impressed? Then look at other live 4x trading account on the website Forex Robots Reviewed (link below).

MegaDroid $10,000 opening balance January 1, 2009 LIVE

As of May 14, 2009 it has now got a balance of $78,138.70. 103 trades - 101 trades made a profit. Look at the profit graph - sorry you have to visit the web page to get the link to the live 4x trading account.

Through the years of Forex trading John and Albert did realize that most Forex robot systems were designed and developed with only a single forex market condition in mind.

While this maybe true, I don't really care - I just want it to make money reliably and safely.

Every Forex trader does know that the forex market changes all the time. It is clear from real proof that the MegaDroid Forex Trading Robot has a system built into it that embraces this change.

The vendors claim this system has been successfully created to perform at 95.82% accuracy. What I have witnessed from real traders doing real trading it performs better than that. The novice is seeing 97.3%, and the professional is seeing just slightly better than 98%.

But don't rush off an buy Megadroid just yet. There are some important facts you need to know - so visit Forex Robots Reviewed to find out all about it.

You'll see the link below. Click it now if you want to make some serious money

COMMON MISTAKE BY FOREX TRADERS - USING TOO MUCH LEVERAGE

Forex trading is among the most lucrative industries that independent individuals can participate in. Beginners, though, are susceptible to making mistakes that may result in the depletion or total loss of their investment.

One of the strong suits of currency trading is that it allows traders to use leverage or to trade on margin. This means that they can buy or sell currencies despite a small account balance. Novice traders at times take advantage of this opportunity and decide to use too much leverage on a large trade. Such a move is highly risky since if the market shifts the opposite direction from what is expected, the trader may suffer greater losses.

Over trading is another tendency that beginners and experts in forex trading alike should avoid. Newbies often easily get excited by observed market movements and trade by impulse, expecting drastic shifts that fail to materialize. To some extremes, they engage in multiple trades at once simply because they wish to. Frequent trading in the absence of real earning opportunities may as well lead to loss.

In an effort to maximize their profit, a lot of new traders also speculate the point at which the chosen currency pair will turn around. Referred to as "tops" and "bottoms", these points are difficult to determine even for veteran traders. At times, it is more advisable to trade when a gradual, but constant movement is observed that yields less but more definite earning.

Forex trading firms today utilize their own platform that allows novices to trade in simulation mode. With enough practice, there are fewer chances that traders would make these mistakes and increased likelihood of earning high in this profitable business.

Most Fail Because They Cannot Accept This Key Point

I teach forex for a living and it never ceases to amaze me that people don't think the next key point is the key to forex trading success. If you don't accept this key point and mentally prepare for it, you will lose too.

When I look at the forex education online much of it makes me laugh. You have vendors selling products that promise extra ordinary profits for no effort, with hardly a loss at all but this is not the real world - it's the fantasy world of them selling simulated track records backwards knowing all the data.

Real life trading is a bit harder you don't know what will happen and losses have to be confronted and dealt with.

The Reality

The reality of forex trading is no matter how clever you are how good you're trading system you are going to suffer drawdown and losses and most traders cannot cope with them.

Even the best traders will lose for weeks on end sometimes, that's just the way forex trading is. This doesn't mean you can't win, you can - but you need to face these losing periods and keep these losses small until you hit a home run.

Sound easy?

Well if you trade already, you know it's hard but the way to do it and stick on course until you hit a home run is as follows:

Being Disciplined and Hitting Home Runs

First you need to accept as part of your essential forex education, that losing is part of winning.

Don't let them hurt your ego or get angry it's not personal! Then, you need to make sure you trade with discipline, you will only ever do this if, you know the forex trading systems logic and have confidence in it so if its not your own learn it.

The ability to keep losses small is the key. To do this always assume the worst, place your stop and leave it - never run a mental stop. In most cases if you run a mental stop, you are tempted to hang on to long and think the loss will turn around and this is a fatal mistake.

Like a good football team your success is built on defence - keep it tight at the back and don't concede too much and if you have a sound system, sooner or later, it will hit the big trades you can run to cover your losses.

So the moral is keep losses small, take them cheerfully and see them as your overhead, in the quest for success.

Always Remember

You can be clever you can have a good system but if you are not disciplined taking your losses and keeping them small, you will lose.

In terms of forex success you have to lose to win; this has always been so and always will be so don't fight accept it and your forex trading strategy with good money management and discipline, will lead you to the currency trading success you desire.