Money Machine - Pip Cop

affiliate · 2009-05-06, 02:42 PM

Hello all , Forex trading is new to me ,and I am a newbie.Theses money making robots seem to be quite hot. I myself have just purchased the megadroid robot and it is doing well. I am look for anyone that might help me in forex trading ,a mentor so to speak.Just someone who enjoys teaching a newbie. I know I would and will when I get enough knowledge. Like poker I love the rush of the trade and it seems to be addicting.
Thanks for this site,It looks very good ,to whom ever created it. A+ from me.
Good luck to you all , and I hope to hear from someone who would like to share any knowledge of trading with me. signed Affiliate.

Ken Long · 2009-05-11, 07:39 PM

My advice would be that these robots are not an end all. MegaDroid may be a good robot, and experimenting with these robots may be fun and potentialy profitable, but the most important thing you can do for yourself in this business is to learn to be an independant trader, and not to rely on robots or other people for your trading. This is a process like any other learning endevor, and can take quite a bit of time to master, and debug. There is a lot of different information available, and you are going to have to decide what fits you. But the basics of trading have never changed, the market trends, its consolidates, and it breaks out into a new move. You can trade these breakouts in the hope that they become a new trend

, or at least a big enough move to profit on. This is probably one of the easiest ways to trade the Forex market, and there are many inexpensive courses that go over the principles of standard breakout trading. Most of the differences between those that make money and those that dont come down to trade managment and money managment, and the ability to set and follow some rules, and not jump the gun or second guess your rules.

I really dont know what level you actualy are in your trading, but Bill Poulos, who is one of the best trading teachers I know of, has just come out with a primer for newer traders. Bill's courses are usually very expensive, and include lots of support and sets of dvd's, but this is a $100 download, and seems to have been put together very well for newer and struggling traders. http://www.nohypeforex.com/SixForexMistakes worth taking a look at. At least link to his main site and register for his free material, it is some of the best I've read.

Other than this, there is a ton of material available. Books, courses, trading systems, etc. I would also suggest visiting the ForexPeaceArmy.com and checking the reviews. Any of the highly rated items should be worth adding to your arsenal. And dont rely to heavily on these robots or other people for your trading. This is a business like any other and you need to develop your understanding and knowledge.

affiliate · 2009-05-18, 07:51 PM

Well thanks Ken. I am new..and do not have all that much experience. But this megadroid works. You can not dispute a 12 for 12 record. No matter what. I am also going to throw this in...Virtual servers .. All I have herd is people saying you should get one. Now , like I said I am fairly new..But Sure sounds like a waste of money. I have lost my connection before, And today was a great test.I lost connection while in trade with the bot for 30 min. It never quit trading and ended with a win. So..I wont be going that route. This one is worth the cash.

Ken Long · 2010-06-30, 12:10 PM

Guys, Megadroid is a great trading robot. I've been running it since it came out and it is the only EA that I have run steadily on a live account. There is lots more info and talk in the Megadroid thread.

Affiliate,

Losing your internet connection wont stop the robot from running, but you will lose the price feed and possibly the entry or exit it was looking for. Losing power, or turning the platform on and off will affect Megadroids trading. It will no longer actively manage the old trade and will open a new trade instead.

A VPS is a great idea if you dont want to rely on your own computer or internet connection for running robots. Several good brokers offer

free VPS service with a live account.

hazeline03 · 2010-07-12, 11:10 PM

With the flexibility you can get in foreign currency

exchange market, forex trading suits perfectly into most people investment plans. Like with any new form of trading you need to know what you are doing! Practice good strategy and soon it will pay-off.

Forex Trading