Forex Megadroid – Forex Robot Basics For Beginners
No, the Forex Megadroid is not a new robot toy. I recently spoke with some folks who knew nothing about forex finances. They thought the Forex Megadroid might be a brand new toy robot. Then I realized that lots of people new to forex and the idea of online robot software might be experiencing some of the same vocabulary confusion.
Rock Bottom Megadroid Basics
The Forex Megadroid is simply the name for a new type of automated software that financial traders can use to trade foreign currencies online. Often, this type of software is described as a “robot” because its automated features allow it to function around the clock as an assistant to a human financial trader. Obviously, humans need to rest and eat, and robots only need a steady stream of electricity to function. We are technologically advanced to the point where we can speak of robots with relative ease. Science fiction and science fact have brought us not only the idea of robots, but actual robots that do all sorts of functions for us. In this case, the robot is an online assistant programmed with specific foreign exchange trading information.
Rock Bottom Trading Basics
Forex is a term used to describe the process of trading the world’s currencies. Other terms include Foreign Exchange, or just FX. This trading process is called a “market”, and it happens to be the largest market in the world If you just imagine that you are trading money at a huge outdoor bazaar, that happens to be online, you will get a good picture of what it is about. Trading in the forex market is based on speculation, or in other words, educated guesses. There is no central exchange for this market. Trading takes place directly between two traders over the phone or on electronic markets in centers for trading, which include New York, London, Frankfurt, Tokyo, and Sydney. Because the trading takes place worldwide, it stays open 24 hours a day.
Trading With Forex Megadroid
In the forex market, currency trades take place with the simultaneous buying and selling of two currencies. The currency combination used in a trade is called a cross. The most commonly traded currencies are called “major” currencies, and these include EURUSD, USDJPY, USDJPY, USDCHF, and GPUSD.
One important thing to know about the Forex Megadroid is that it only trades in the dominant EURUSD cross. For experienced Forex traders, this single specification keeps them from purchasing the Megadroid because it limits them to the one trading cross. For beginners, it may be a relief to learn that the Megadroid is focused on the dominant market, in which, much of the profitable trading is conducted.
The other things that make Forex trading advantageous is that you can trade 24 hours a day from Sunday evening (20:00 GMT) to Friday evening (22:00 GMT). The Forex Megadroid is designed to work continuously during the same trading hours, while analyzing the market changes with proprietary software designed with the capability to forecast up to 4 hours ahead based on how the market is changing.
The Forex Megadroid has been developed to manage risk, or in other words, to control investment outcomes based on known or predictable ranges of gains or losses. For this reason alone, it is known as a conservative type of trader, which also gives the beginner in Forex trading a significant measure of comfort.
And finally, the Forex Megadroid gives support to home traders, who can simply install the software on their computer, following directions, and let it do its work, while learning from it as it functions. A little knowledge can be a good thing in this case, because it may jump start a beginner who might not otherwise be able to trade in this typically aggressive area of finance. The Megadroid’s software allows it to remain hidden from forex brokers, so that it can conduct trading without detection. This important feature gives an advantage to traders that might not otherwise be able to function against larger, more experience competitors.