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Forex Megadroid Settings

Forex Megadroid Settings Key to Forex Megadroid Success

Forex Megadroid is one of the best, if not the best, forex robots currently on the market, in our opinion. With its patented Reverse Correlated Time and Price Analysis (RCTPA) and exclusive focus on the EUR/USD currency pair, Forex Megadroid has shown that it is one forex robot that is all about its business.

However, that doesn’t mean that users of the Megadroid should just sit back and let the robot run completely on auto-pilot. No, you must consider whether the default settings of Forex Megadroid are to your liking, or if you should adjust the settings.

When it comes to Forex Megadroid, seemingly small adjustments to the settings can make a big difference.

Forex Megadroid Default Settings Are Pretty Solid

What exactly is meant by Forex Megadroid settings?

The settings on a forex robot are where you, as the user, can program your robot to trade within certain parameters and according to certain rules. Every forex robot user should look at the default settings on a robot before putting real money on the table.

In the case of Forex Megadroid, the settings issue is not as complicated as with other forex trading software programs because the Megadroid only trades one currency pair, the EUR/USD. This is in contrast to, say, FAP Turbo, which trades multiple currency pairs, all of which have their own peculiarities as to how volatile price action is.

Forex Megadroid purchasers need to be concerned about two main settings:

1. Risk Level. This setting pertains to where your stop losses will be placed.
2. Aggressiveness. This setting pertains to how many trades you want your robot to place.

The Forex Megadroid creators do a good job of giving new users workable default settings. At the time of this writing, the default Forex Megadroid setting on Risk Level is at 10 percent, and the Aggressiveness setting is at “Medium.”

This arrangement is fine for the vast majority of Megadroid fans. Nevertheless, serious forex traders should always look at every forex robot setting to see if it can be improved.

Risk Level Setting Adjustments for Forex Megadroid

One reason why the Forex Megadroid, as of now, only trades the EUR/USD is that the EUR/USD is traditionally the most steady and reliable of any currency pair. Other, less liquid currency pairs would not work as well with the Megadroid’s habit of using fixed stop losses, rather than trailing stops that move with the market.

At the same time, even the EUR/USD has its moments of volatility (surely we have seen this in 2010 as the Euro has plummeted), so there are occasions when you may want to adjust the risk level settings on the Megadroid to avoid being stopped out of promising trades.

The default risk level settings on Forex Megadroid are designed to abide by the coveted 3:1 risk/reward ratio, which is right out of the forex pro textbook. Be careful about getting too crazy changing the settings because when you change the risk level settings, you usually lessen that risk/reward ratio.

Still, rules were made to be broken, and you are the boss of your robot. If you want to take a bit more risk, there’s nothing wrong with that and it may work great for you.

Aggressiveness Setting Adjustments for Forex Megadroid

Adjusting the aggressiveness setting on the Megadroid is a more common desire among users of this particular robot. Aggressiveness, again, refers to the number of trades that your robot will place, and under what circumstances.

The reason adjusting the aggressiveness setting for the Forex Megadroid is so popular is because a lot of traders get bored when they see their robot only placing a trade or two per week, as the Forex Megadroid will sometimes do.

You see, the Forex Megadroid is a rather conservative robot at heart, seeking to only grab the “low-hanging fruit” that is very likely to earn you profits and leaving the more marginal trading opportunities alone.

This highly selective approach yields highly attractive rates of profitability, yes, but as noted above, you are the boss of your robot, not the other way around. Whatever you say goes, and if you say your robot should trade more, it should trade more.

If you are going to change the aggressiveness setting on the Forex Megadroid, that is not a problem, Megadroid is up to the task. Just please don’t set it to 90 percent aggressiveness. If you’re going to play the FX markets like that, a.k.a. “Casino Mentality,” you might as well trade by yourself without paying for a forex robot.

Lot Size May Be the Most Important Forex Megadroid Setting

Every forex robot has settings that are more important than others. With the Forex Megadroid, we would suggest that you take a look at the lot sizes that you are trading as a key setting that must be considered in your quest for major forex profits.

The Forex Megadroid is an extremely accurate forex robot when it finds a trade that meets its strict criteria. But because these criteria are so strict, because the Megadroid prefers to only go for the “low-hanging fruit,” you may get bored, and when Megadroid does book you profits, they may not be that exciting if your lot sizes are small.

If you have a big enough account to bet bigger on the Forex Megadroid finding trades that are 95 percent of the time going to be profitable, you may want to go ahead and do that. Large profits via infrequent trades is not at all a bad deal, in our view.

And that’s exactly what Forex Megadroid may offer you if you adjust your lot size settings to the upside, making each trade a potentially momentous profit-maker.

Important Forex Information

The most important step in currency trading is finding the right broker; our forex experts can help. See our
reviews of forex brokers for more information.  

Forex Megadroid is a program you download that does your trading for you. It trades only the EUR/USD currency pair. Read the forex megadroid review.  

Forex Automoney and Forex Ambush are forex robot programs that have gained traction in the FX community. See the comparison: forex automoney vs. forex ambush  

Forex robots should never be used as an excuse for you to abdicate responsibility over your own trading strategy. Learn the 3 rules for working with forex robots.