1 Forex Software Program You Should Consider

Forex software can be profitable if you select the right one

. However, there are so many on the market that choosing the best one is often difficult. If you are not sure which Forex program to go with, here is one you might want to consider:

Forex MegaDroid

The MegaDroid is among the better applications on the market, and also one of the more popular ones. It is designed to copy the characteristics of a profitable foreign exchange investor. One of the things that make it unique among software applications in that it focuses on long term Forex trading strategies, whereas the other target short term profits.

How It Differs

Entry Point

Most software applications use a 60 second entry point when investing. This one instead uses a 60 minute timeframe. In other words, instead of attempting to make a trade every time one becomes available, it waits for one that really has potential to go up. It makes fewer investments than other applications, but the ones it does make are more profitable.

Stop Loss

Another factor in its' success is the stop loss system it uses. Many traders lose everything in one single bad trade, because they hold it too long. This is not the case with MegaDroid. This one maintains a 3:1 risk reward ratio, which keeps the account profitable even if a few of its' trades go down. The goal is to cut the losers and rider the winners, a strategy every successful Forex trader uses.

Real World Results

This software averaged net profits of 564% from 2001-2009, and is still going strong today. Most applications only work in back testing. However, this one is profitable in the real world, as evidenced by these statistics.

Conclusion

Many investors get fooled by the profits they generate from the backtesting with the robots, before their money is at risk. They figure if the practice results are so successful, the real world results must be the same. However, this often proves untrue. Even if you decide not to use the Megadroid program, make sure you never make any buying decisions based on practice results.

Instead, read reviews by past users and see what they are saying. Also, ask on Forex forums and see what other traders are using. If you want a proven forex software program that will make you money for years to come, than MegaDroid is one you might want to consider.

by: Cedric Welsch

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