Forex MegaDroid Price Is Going Up

Hello everybody. I received an e-mail from a Forex MegaDroid promoter (Andreas Kirchberg of Forex Killer fame) a few minutes ago notifying me that the Forex MegaDroid developers are going to increase the price of their product. The way I see it either they’re just saying this to drive up sales (last minute rush sort of thing) or they really mean it. Your guess on his is as good as mine. Right now the Forex MegaDroid EA costs $97. I tried to find out how much they’re going to raise the price but unfortunately I did not find anything. But I don’t think it’s going be raised all that much - maybe to $140? I’m basing my speculation on the same tactic that the FapTurbo developers used. They too said they’re going to raise the price, raised it once, then they said they’ll raise it again but that second time never happened - could this be a repeat of this tactic? Could Forex MegaDroid be related in some way to FapTurbo? Anyways, enough of my speculations.

Here is a copy of the e-mail I received (this is an excerpt - I removed some stuff that was not pertinent to the subject):

The launch of Forex MegaDroid is almost over and, as
promised by John and Albert, the price is going up.

Remember, Forex MegaDroid has unique features that NO other
robot on the market has:

- Broker buster in-built mechanism (no broker in the world
will ever know you are trading with it and hence cannot
stop you from doubling your account every month)

Consistency - Year-by-year impressive performance. In 2009
alone the robot has almost QUADRUPLED the deposit!

- Multi-Market Performance – the only robot that is
capable of trading with 95.86% accuracy in every single
market condition: trending, non-trending, volatile,
non-volatile. This is HUGE since it’s the reason the robot
is able to trade every month with an uncanny accuracy rate.

- New Artificial Intelligence technology (RCTPA) which
allows the robot to see what will happen in the market
within the next 2-4 hours with unheard of accuracy rates.

Foreign exchange Market

The foreign exchange market (currency, forex, or FX) is where currency trading takes place. It is where banks and other official institutions facilitate the buying and selling of foreign currencies. ^[1]FX transactions typically involve one party purchasing a quantity of one currency in exchange for paying a quantity of another. The foreign exchange market that we see today started evolving during the 1970s when worldover countries gradually switched to floating exchange rate from their erstwhile exchange rate regime, which remained fixed as per the Bretton Woods system until 1971.

Presently, the FX market is one of the largest and most liquid financial markets in the world, and includes trading between large banks, central banks, currency speculators, corporations, governments, and other financial institutions. The average daily volume in the global foreign exchange and related markets is continuously growing. Traditional daily turnover was reported to be over US$3.2 trillion in April 2007 by the Bank for International Settlements.^[2] Since then, the market has continued to grow. According to Euromoney's annual FX Poll, volumes grew a further 41% between 2007 and 2008.^[3]

The purpose of FX market is to facilitate trade and investment. The need for a foreign exchange market arises because of the presence of multifarious international currencies such as US Dollars, Euros, Japanese yen, Pounds Sterling, etc., and the need for trading in such currencies.

GAIN Capital's FOREX.com Named Best Retail FX Platform by Profit & Loss Magazine for Second Consecutive Year

NEW YORK and LONDON, June 9, 2009 - For the second consecutive year, Profit & Loss Magazine announced GAIN Capital's FOREX.com as "Best Retail FX Platform" at the 2009 Digital Markets Awards Ceremony.

Profit & Loss' Digital Markets Awards recognize the efforts of the foreign exchange (forex) services industry in providing the tools and functionality that make trading forex more efficient. Winners are selected by professionals in the industry.

"Being voted as the best by customers and peers is a great honor and validates our belief that GAIN offers a market leading FX platform," said Glenn Stevens, CEO, GAIN Capital. "Winning the 2009 Profit & Loss Reader's Choice Award for the second consecutive year is testament to GAIN's clear leadership in the retail forex market."

In addition, GAIN Capital's Chairman and Founder Mark Galant was inducted into the Profit & Loss Hall of Fame for his significant contributions to the growth and success of the forex industry.

"I would also like to personally congratulate Mark for his well-deserved recognition," commented Mr. Stevens. "Mark's reputation as an industry pioneer and evangelist for retail forex is well-known. Notwithstanding, receiving the People's Choice award is further tribute to his positive impact on the FX industry as a whole."

About GAIN Capital

GAIN Capital is a market leader in the rapidly growing online foreign exchange (forex or FX) industry. Founded in 1999 by Wall Street veterans, GAIN now services clients from more than 140 countries and supports average trade volume of nearly $200 billion per month with its customers and trading partners.

GAIN Capital provides execution, clearing, custody, and technology products and services, supporting over 50 correspondent and white label arrangements with broker/dealers, Futures Commission Merchants (FCMs) and other financial services firms around the globe. The company also operates FOREX.com (www.forex.com), one of the largest, best-known brands in the retail forex industry.

With offices in New York City, Bedminster, New Jersey, London and Tokyo, GAIN Capital and its affiliates are regulated by the Commodity Futures Trading Commission (CFTC) in the U.S., the Financial Services Authority (FSA) in the United Kingdom, and the Financial Services Authority (FSA) in Japan. For company information, visit www.gaincapital.com, or for trading information, visit www.forex.com.

Forex Trading Method

(1) What's the Blog's Trading Method?
A trend following approach on the Daily-Chart.

(2) How are Stops calculated?
By the Average True range Indicator (ATR 14).
Example
For USD/JPY the ATR (14) value on the Daily-Chart is 1,55. This corresponds to 155 Pips. An approximation of the ATR-value is deducted from the price in an Uptrend or added in a Downtrend.

The approximation is between a full ATR (=155 PIPs) and a half ATR (= 78 PIPs) depending on technical supports and resistances as well as round numbers (USD/JPY 101,00, 101,50, 102,00 etc.).

(3) How is the target calculated?
The Stop-Loss distance in Pips is at the same time the distance to the Target. The Risk-Reward ratio is always 1:1. Target prices can vary a couple of pips due to support and resistances.

(4) How many signals per week are generated?
There is a maximum of 5 signals per week (Monday-Friday).

(5) Why get signals published at 18:00 GMT?
Because the trading method is based almost exclusively on technical analysis and usually after 18.00 GMT there are no more important fundamental announcements.

(6) What happens when neither Stop-Loss nor Target is met?
When neither is met until the subsequent day at 18:00 GMT , the trade will stay open for another 24 hours or closed at the opening price at 18:00 GMT.

(7) How many currency pairs are available?
There are 20 currency pairs available: EUR/USD USD/JPY GBP/USD, USD/CHF, EUR/JPY, GBP/JPY, CHF JPY, AUD JPY, NZD JPY, CAD/JPY, EUR/CHF, EUR/GBP, EUR/CAD, EUR/AUD, GBP CHF, AUD/USD, NZD/USD, USD/CAD, AUD CAD, AUD NZD.