Even with the existence of various Forex trading software programs, not one of these is fail proof. Despite the high accuracy and accomplishment rates, the possibility of performing losing trades is still evident. Traders should be responsible in knowing the currency being traded so that these losing rates can be minimized. Although Forex robots can perform on their own, the users still have the power of making the final decision. Thus, traders should keep learning about the exercises of the Foreign Exchange market and how it works.
Just like the human race, Forex robots are continuously varying and being enhanced. The creators and developers who program these robots with up to date technologies all have one goal in common: to be able to produce the perfect Forex robot that will produce more wealth and profit to the trader. Thus, in this line of business, robots that have the best software have a higher chance of captivating the market. Currently, here are two such robots that are gaining popularity among the traders. These are the Forex Megadroid and the FAP Turbo. The differences of these two robots will be discussed in this article to help the trader get more idea of these Forex software programs.
How This Robot Was Programmed
The Forex Megadroid is the first robot to be developed with artificial intelligence. This software is using a technology that is known as the Reverse Correlated Time and Price Analysis or RCTPA. This technology enables the Forex Megadroid robot to work under different market situations because it is able to monitor and study the altering market conditions. This information collected is then utilized to form the best promoting trades.
On the other hand, the FAP Turbo is programmed using either a High Spread Protection System or HSPS and Built-In Loss Prevention (BILP). These two programs are intended for use of large cases and long term trading.
How These Robots Perform
Invisibility is one characteristic of the Forex Megadroid robot. This trait makes the discovery of this software hidden from other traders. Alternately, the FAP Turbo robot makes itself seen, so allowing other traders to see that it is being utilized.
How These Robots Trade
While one of the Forex Megadroid's feature allows it to be capable of trading in a distinct currency pair and within a one hour time period, the FAP Turbo is able to perform as many profitable trades in a day and in almost every currency. With Forex Megadroid's programming structure, it is able to rationalize its observations and scrutiny in order to take full advantage of its profits.
How Much These Robots Cost and Which One to Choose
The Forex Megadroid is cheaper than the FAP Turbo. The first robot costs roughly about $ 97 while the latter is priced at $ 149.
How successful a trader will become relays on the individual and not only on the software. These robots should not be given total control to perform trades despite their advantages. The user should still get involved with the trading and studying the market's trends even if these robots are already capable of doing these tasks.
By using demo accounts, deciding which robot to choose can be easier and more beneficial. It is also cost effective and more beneficial for the user to practice with these demo accounts before buying one of these robots.