Forex MegaDroid Review - Does Forex MegaDroid Work?

Developers John Grace and Albert Perrie created the Forex MegaDroid

. Between them, Grace and Perrie have altogether 38 years of experience in forex trading.

Don't be fooled by the tacky sales page; they have more than 18,000 users. During live testing, Forex MegaDroid has given profits 101 times out of 103 trades. This is a phenomenal percentage. Ongoing testing had continued to show profits. You can't help but wonder why they don't do something about their sales page.

Forex MegaDroid, as with most robots, makes use of MetaTrader in its trades. That's not a problem because most brokers use this facility. MegaDroid makes its best trades in the USD/EUR pair. Because this pair is so well traded and stable, you can usually get a low spread from your broker. You should try and find a broker giving a spread below 3.

According to Grace and Perrie, it only takes 5 minutes to set up this software. While you can certainly install the software in 5 minutes, you probably want to take some time exploring the default settings before you begin your trading. If you're happy with the default settings, then you don't have to change much. The default "Risk Level" is set to "0". A "0" risk level means aren't trading. For each "0.1" you raise in risk level, you are risking 10% of your account on each trade.

The default level for "Recovery Mode" is "true". With this setting, you will double the size of your next trade if you have a loss to try and recover that loss. This is, of course, a fairly risky strategy.

You must turn your computer on and be connected to the internet in order to trade with Forex MegaDroid. Make note that your trading can be interrupted if you have any kind of power or connection issues. You can get hosting for a monthly fee to avoid these issues.

Many trades will happen overnight.

Older forex robots were created for only one market. If conditions in that market were somewhat stable, they ran well. Forex MegaDroid, on the other hand, is said to utilize algorithms that can change based on varying market conditions. Trader's dream of these things. From the profits pulled by Forex MegaDroid in the last year, the claim would appear to have some basis in fact. There's been a great deal of chaos in the markets recently.

Forex MegaDroid uses scalping as one of it's strategies. Scalping levies the turmoil in the markets by opening and closing trading very fast, sometimes within seconds. This process can be both exhilarating and lucrative, but the number of orders it submits is a problem for some brokers. However, if a broker can't handle scalping, you don't really want to trade with that broker anyway.

Forex MegaDroid Review - Does Forex MegaDroid Work?

By: Pete

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