Eye Of Singapore

This Forex Megadroid review takes a close look at the expert advisor software that claims it is “seeing into the immediate future with 95.82% accuracy”. Artificial intelligence is one thing - predicting the future is another. So how does the ‘droid measure up in practice? Can it really foretell the movements of the markets?

How It Works

Developed by John Grace and Albert Perrie from out of 38 years’ combined experience in the forex markets and launched in the spring of 2009, Forex Megadroid uses what is called ‘market adapting intelligence’ to make it flexible enough to achieve a high level of accuracy in a fluctuating market.

The criticism thrown at most automated forex software by many traders is that the robots can only make money if the markets are consistent. The old style of robot that was based on inflexible rules was not able to cope with major changes in the patterns of market fluctuations.

However, the new market adapting intelligence, as you might guess from the name, allows a new generation of forex robots to learn from these changing patterns so that they can adapt to a certain amount of inconsistency in the markets and refine their trading rules to fit. This gives your funds a much better chance of surviving when things become more than usually volatile.

Of course we are not talking about long term predictions. Forex Megadroid’s ‘reverse correlated time and price analysis’ (RCTPA) aims to predict market movements in the next 2 to 4 hours.

Results

At the time of writing, this EA has only been out for about 6 weeks so it is early days, but reports from users on the foreign exchange trading forums are very good. Many people are seeing 90% or more successful trades.

The bot needs to win 5 trades for every loss so a ratio of 90% will make good profits. Keep in mind though that this does not mean always 9 wins followed by 1 loss. You could have a couple of losses in short succession which will eat into gains and could frighten off beginners. Experienced traders know that losses are part of the game and you must be prepared for them.

In terms of percentage gains, users report 10% to 20% increase on live accounts over one month. That is a healthy profit.

Disadvantages

Users report that the Megadroid did not at first make as many trades as they expected. People were only seeing 3-4 trades a week. This meant that unless you wanted to risk large sums, you would not have a chance to make a lot of money in a short time, which many people starting out in forex want to do. So this was frustrating for many users.

However, a slow and steady approach is much more likely to lead to long term growth. If this software teaches beginners to look to the long term instead of trying to make a fortune overnight, it will be doing us all a service. So have patience while your bot is sitting there waiting to trade.

Anyway with the recent release of version 1.1, long gaps between trades do not seem to be so much of an issue and users are reporting up around 10-12 trades a week now.

Do you trust an addict? Have you ever had a friend who was addicted to one of life’s most troubling addictions, heroin or cocaine? Even if you haven’t, then I’m sure that you will have heard stories about how you should never trust a junkie or else be prepared to have things stolen from you.

Now, of course, smokers are not that desperate as we have already discussed. Cigarettes are just affordable and also widely available. But many smokers are fooled by their addiction and will give bad advice or show strange behaviour to fellow smokers, especially those who want to stop.

When you stop smoking (that’s “when”, not “if”!) after reading this book, and you tell your smoker friends that you have stopped, I guarantee you that at least one of them will offer you a cigarette.

They will offer you a cigarette and then jokingly pretend that they had forgotten that you had stopped smoking. This happened to myself several times after stopping and it will happen to you as well! It has nothing to do with people forgetting that you had stopped smoking (how could they forget such a major event) and everything to do with addiction affecting behaviour. When your friends offer you cigarettes, their addictive-bent emotions are telling them that they have lost a fellow “addict friend” and they want you to rejoin the club.

This is all on a subconscious level. Maybe you don’t believe me but, as I said, I guarantee that this will happen to you at least once.

Do not trust the quitting smoking advice of a smoker. Would you trust a skiing coach who could not even ski himself? Then why would you trust a smoker to advise you on the best way to quit? You can only trust someone who has stopped smoking to advise you on how to quit your addiction.

On the other hand, would you trust a former addict? Would you trust someone who used to be an addict but found a way out and looks like never going back to those dark days?

You have a choice - trust the addict and remain an addict for life or trust me and your addiction will become a thing of the past.