Forex megadroid does it again!

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Ranked FRWC Robot At 70.95% Profjt In Only 11
Days!

Many of my subscribers have been steadily following the
Forex Robot World Cup (FRWC)...

Just a small re-cap for those that haven't:

The FRWC was created with the objective of finding the
best NON-COMMERCIAL Forex robot in the world through
a competition based on solid and transparent rules.

What does non-commercial mean? Simple, robots that are
not being sold or marketed anywhere but are solely used
by their developers.

Hundreds of independent robot developers from all over
the globe joined the FRWC to compete for the #1 Prize...
US$100,000!

Now... the competition has two phases, the qualification
phase and the live (real money) trading phase.

On December 1st 2009 the live trading phase started with
24 robots from the 329 submitted during the qualification
phase (which lasted over 2 months!)

Yes... ONLY 24 robots!

Why so few? Simple, the FRWC's qualification rules are
TOUGH!

They were devised with the sole objective of truly having
the best of the best compete... robots that did not just
have the potential for good results over a short period
of time...

...but robots that can be consistently profitable over the
long-term.

You can view the live (real money) results of the 24
competing FRWC robots here (updates every 15
minutes during normal market hours):

http://forextradingexpert.mirrorz.com


By the way, you will also be able to view each robot's real
money, live account statement so you can see each and
every trade it takes as the competition progresses.

It is truly exciting to finally see an event designed to
separate truth from hype.

Let me explain...

Once the live phase of the FRWC is over, the winning robots
will be available for purchase (in very small quantities).

This means one simple thing:

THE END OF B.S. ROBOTS IN THE MARKET!

Once and for all, FX traders will be able to lay their hands
on true, PROVEN money and pip-making FX robots.

No marketing hype... no cheap sales pitches... just the
natural outcome of the most important automatic FX
trading competition which YOU can follow live AND
verify on a daily basis:

http://forextradingexpert.mirrorz.com

By the way... it's been just 11 days since the live trading
phase started and the leading robot is already at 70.95%
profjt!

We don't know about you but we have been (and will be)
following this thing on a daily basis :-)

Best regards,

Smart money management for you manual traders

Here is a complete checklist to determine the most important aspect of money management, position sizing:

1. What is my account balance? $4234.58
2. What percentage of my account balance will I be risking? 1.0%
3. What is my stop loss on this particular trade? 50 pips
4. What currency pair am I trading? GBP/USD
5. How much is a pip worth on a 10K (mini) account? $1
6. CALCULATION What is my dollar risk amount? (Account Balance x Percentage Risk) $42.35
7. CALCULATION What is my position size (Dollar Risk Amount x 10000) ÷ (Stop Loss x Pip Worth)

It’s up to you to determine what percentage of your account balance that you want to risk. I’ve heard traders risking from 1.0%-5.0% per trade. I risk no more than 1.0%. It’s important to determine what your stop loss will be before continuing with the checklist. None.

This is the hardest to determine by hand with the exception of currency pairs with the USD in the quote currency such as the GBP/USD, EUR/USD, and AUD/USD. These currency pairs always have a pip worth of $1 on a 10K (mini) account. Take the account balance and multiply it by .01 (1.0%), .02 (2.0%), etc. to obtain your dollar risk amount. This is the most important calculation. Do it right.

EXAMPLE #1 (Answer questions 1 - 7)
$4234.58
1.0%
50 pips
EUR/USD
$1
USING A CALCULATOR-> ($4234 x .01) = $42.35
USING A CALCULATOR-> ($42.35 x 10000) ÷ (50 x $1) = (423500) ÷ (50) = 8470 units

What you might be thinking… I can only trade a mini-lot which is 10,000 units. This is more than my calculated position size. This means that you are under-capitalized. You need more capital to trade mini-lots. Another option is to use a variable-lot size broker like Oanda where you can specify 8470 units. Another option is to risk a smaller percentage per trade (use 0.5%.)

EXAMPLE #2 (Answer questions 1 - 7)
$10582.26
2.0%
75 pips
USD/JPY
$0.8829

USING A CALCULATOR-> ($10582.26 x .02) = $211.65
USING A CALCULATOR-> ($211.65 x 10000) ÷ (75 x $0.8829) = (2116500) ÷ (66.22) = 31962 units

In this example, you could enter a trade in the USD/JPY with 3 mini-lots or 30,000 units. If you have a variable-lot size broker like Oanda, you can enter a trade with 31,962 units. There may be a better or quicker formula for calculating position size. This method works but if you know of a more efficient way, let me know. FYI if this is a bit complicated for some of you, no need to worry as the forex megadroid software automatically trades with conservative settings, but risk automatically increases as the account coutinues to grow. The URL for this automated trading platform is:

http://forextradingexpert.mirrorz.com/. The above method is moreless for manual trading strategies.

Why we need forex megadroid for trading in the forex market?

Foreign Exchange Market is a highly volatile, complex and fastest growing market of modern era. Every day, it is bringing up great opportunities for investors to trade and earn maximum returns. A number of people want to participate in trading for earning huge amount of money. Many of the automated trading systems are designed in order to facilitate the traders especially newcomers.

Forex megadroid (http://forextradingexpert.mirrorz.com/) is, in fact, a great trading tool. It is a full automated system, which makes you able to make trading as your secondary source of income. With Forex megadroid, you do not need to sit on the computer through out the day. You just need to fix the settings and then it will do trading on the behalf of you. The main purpose of this system program is to automate the Forex trading system. It has the ability to make the work easier for a trader by providing assistance to them in analysis and trading matters. Even if you are not near to your computer, you can earn a lot of profit. This system is very easy to operate. You can easily download and install it. Hence, you can say that this automated system is user friendly.

You can run this software as long as your computer system remains on. For this, you must have to be connected with net and keep your system on throughout the day that is not possible. For this, what you can do is simply to get a subscription of some remote server that has the ability to trade on your behalf. Now, you are no longer bound to monitor the each and every day. forex megadroid performs this task on your behalf. This Forex trading system software offers you money back guarantee of about 60 days. If you feel satisfaction with its requirements, you can continue it. If it does not meet your requirements, you can return it back and refund your money. Therefore, it makes trading easy for newcomers. Moreover, you can start trading with initial investment of just $50, which is quite reasonable. Due to the above mentioned reasons, we can say that, forex megadroid makes the trading process so much easier. Even a new trader can make his money double by using it.

Forex trading and patience

Do you despise waiting in line? Are you constantlyin a race against time? Patience is defined as calmness, self-control,and willingness or ability to tolerate delay. I took an online patience test yesterday because I was curious of how I compared to the norm. My score was 48/100 which put me surprisingly in the middle. I'm mentioning this because over the past couple of months, I have made a conscious effort to improve my patience as it relates to trading. I remember the days when I was trading too much. I would trade at all hours of the day and many times just to be in the market. I didn't have the patience to wait for a setup and would jump to conclusions or assumptions before the setup materialized. Sometimes I would actually win but many times I would also lose. The biggest issue with my impatience was that it formed some really bad habits. I am now just starting to fix them.

Part of my "therapy" was to set a realistic monthly goal of 260 pips. 260 pips don't sound like a lot over a month's time and there is the possibility of making this on 1 trade. I felt that setting a daily or weekly goal only contributed to overtrading. For example, it is Sunday, Dec 6th and I have yet to make a trade in the month of Ded. If I had a 60 pip weekly goal, I might have felt forced to enter the market this week just to reach that goal. Instead, I don't care if I trade this week or not. I still have 18 trading days left to reach my monthly goal.

What is more important than making an income trading forex?

I haven’t been able to make any progress monetarily in about a
month. I’m up about 4% this month but breaking my account balance
all-time high has been a struggle. I’m pretty much stuck where I was
around this time last month. I’m not all that concerned and shouldn’t
be considering I was preaching patience a couple of days ago. It’s just that everytime I open my trading platform, the account balance is just staring me in the face.

It’s more important that I progress as a risk-aversed trader. For newer traders, it’s very important for you to understand that learning methods to control your risk should be a priority. Making gains monetarily is obviously important but making gains and strides elsewhere are more important. When I first started trading mostly with demo accounts, I had some unbelievably profitable trades but my strategies were random and my risk and leverage too high. A lot of this is just pure luck and not going to take you to the next level. Your account balance shouldn’t be used as a guage for success. Some questions to ask yourself to guage your success may be:

Have you managed to minimize your risk and maximize your reward?

Have you maintained consistency?

Have you been able to control your emotions?

Have you developed a complete trading system that you’ve been able to follow without deviation?

If you haven’t been profitable, have you at least been able to turn those gushing drawdowns into slow bleeders?

If you’re new to trading forex or have been trading for a couple of years, the #1 goal is to stay in the game as long as you can. I’ve talked to many traders over the years and many of them have been in and outers. They’ll jump in head first, blow up multiple accounts, and jump out never to be heard from again. There are other traders I’ve known who couldn’t consistently turn a profit and instead turned into mentors or forex marketers. Heed caution… There are also others who couldn’t stand the non-regulation of forex and went back to trading futures or stocks. There are a couple traders still around since I started but I can count them on one hand. It takes years to become a trader and I can’t even say that for certain. I’m still not there but I’m still around and giving myself at least 5 years. If it doesn’t work out for me or you after 5 years, just think of the countless people who have gone to college and have never entered into the field of their degree.

The best way is to use my highly recommended trading EA: Forex Megadroid (trades w/ 95% accuracy/$200 min investment req/conservative risk) http://forextradingexpert.mirrorz.com/

or

Fapturbo: http://ezforexprofits.mirrorz.com/ (consistent small profits/avg returns of 15%+ monthly using this system/conservative-moderate risk)

I personally trade with both of these, and with a little bit of homework on which currency pairs are most profitable is key with fapturbo. Has remained to be profitable in all trading conditions.

Forex exchange CA- List of CA brokers

Forex Exchange CA

Local Companies

F & M Bank
916-394-3200
1303 J St
Sacramento, CA 95814

Visit Web SiteBank Of Commerce Redding
530-224-3333
1951 Churn Creek Rd
Redding, CA 96002

Visit Web SiteCal State Central Credit Union
707-546-6311
1205 N Dutton Ave
Santa Rosa, CA 95401

Burbank Community Federal Credit Union
818-238-2900
3000 W Magnolia Blvd
Burbank, CA 91505

Universal Money
951-681-8775
7840 Limonite Ave
Riverside, CA

Cannon Trading Co. Inc.
800-454-9572
9301 Wilshire Blvd
Beverly Hills, CA

Maid Brigade USA Minimaid Canada
(510) 535-9500
2634 International Blvd
Oakland, CA

Thomas Cook Foreign Exchange
916-444-5274
300 Capitol Mall
Sacramento, CA

The Change Group
415-732-7870
114 Powell St
San Francisco, CA

Continental Currency Services
714-540-5001
2222 S Bristol St
Santa Ana, CA

Sequoia Financial Services
(818) 409-6000
500 N. Brand Blvd., Suite 1200
Glendale, CA

Heng Loong Foreign Exchange Corp
415-362-8718
626 Jackson St
San Francisco, CA

Lucky Money
415-864-8367
1111 Mission St
San Francisco, CA

VIP Futures
415-693-9957
222 Columbus Ave
San Francisco, CA

Knowing how to choose a reliable forex broker

A FOREX broker needs to be associated with a large financial institution such as a bank in order to provide the funds necessary for margin trading. In the United States a broker should be registered as a Futures Commission Merchant (FCM) with the Commodity Futures Trading Commission (CFTC) as protection against fraud and abusive trade practices.

Before trading FOREX you need to set up an account with a FOREX broker. You may feel overwhelmed by the number of brokers who offer their services online. Deciding on a broker requires a little bit of research on your part, but the time spent will give you insight into the services that are available and fees charged by various brokers.

The best advertising is word-of-mouth advertising, and this is just as valid in FOREX trading as it is for any other type of business. Talk to friends and associates to see who they are dealing with and find if they have any complaints or difficulties in dealing with a particular broker.

You could try selecting a few online brokers and contact their Internet help desks to see how quickly they respond to enquiries and whether or not they answer questions to your satisfaction. Keep in mind, however, that pre-sales service may be better than after sales service. This can be true for any online business, not just Forex exchange CA brokers.

Customer satisfaction and safety are just part of the story. You want to find a broker who executes orders quickly and with minimum slippage. All online brokers should offer automatic execution and have clear policies regarding slippage. They should be able to tell you how much slippage can be expected in both normal and fast-moving markets.

Next you want to know the fees involved. What is the spread? Is spread fixed or variable according to the type of account? Are mini accounts subject to wider spreads? Are there any other charges? Smaller spreads mean more profit for the trader, but there may be a trade-off between spread and service. Look at the overall picture before deciding to go with a particular broker. Margin accounts are the lifeblood of FOREX trading, so be sure you understand the broker's margin terms before setting up an account. You need to know the margin requirements and how margin is calculated. Does margin change according to the currency traded? Is it the same every day of the week? Some brokers may offer different margins for mini and standard accounts.

Trading software is very important for the online FOREX trader. Get a feel for the options that are available by trying out a demo account at a few online brokers. Above all, you are looking for reliability and the ability to perform well in fast-moving markets. The software should offer automatic trading and may have special features such as trailing stops and trading from the chart. Some features may only be available at an extra cost, so be sure you understand what your trading needs are and how much the broker charges to provide them.

Other information to find out about includes the broker's policy regarding minimum account balances, interest payments on account balances, which currencies can be traded and whether or not non-standard sized lots can be traded. You should also find out whether clients' funds are insured and the extent of that insurance.