FOREX Trading Software Reviews
by Yusoff Allian
Success in FOREX trading is all about timing - knowing when to get in and when to get out can make the difference between huge profits or heartbreaking losses. There are many companies offering their services as signal providers, and for a modest monthly fee they'll send you real-time signals (even via your cell phone) letting you know when to buy or sell a currency pair.
Ideally you'd like to be able to identify trends by yourself without having to rely on a signal provider, but this will take time to master. By all means begin your education in recognizing trends and in-depth technical analysis, but in the meantime you can make use of some personal FOREX trading software to aid you in your FOREX trades.
As mentioned above, there are plenty of signal providers out there, but finding a reputable one can be a tricky task and can cost several hundred dollars per month. Fortunately there's an alternative - FOREX trading software that you can download and run on your home computer. There are two pieces of software out there right now that are quite popular and offer excellent FOREX signal notification, so no matter if you're a short term trader, swing trader, or long term trader one of these FOREX software programs should be part of your trading arsenal.
FOREX Killer is a FOREX trading software program designed to run on Windows. FOREX Killer can take data from any FOREX broker that can export historical data in a .csv format. Once imported into the program, FOREX Killer allows the user to select a time frame and currency pair. Enter your desired stop loss and take-profit level and start the calculation. FOREX Killer generates two sets of signals, short term and long term, and lets you know whether you should buy or sell based on current market prices. This particular FOREX software program supports most of the common currency pairs, as well as gold, stocks, and futures.
The next FOREX software program to consider is called Prophet1 Expert Advisor. This program bases its signals on two popular indicators, moving averages and MACD's. This allows the user to make use of this software for day trading purposes, but it's certainly not limited to that time frame. Based on back-testing this FOREX software program boasts an admirable 90% win rate, and this is using its default settings. As with FOREX Killer, alerts can be sent via email or to your cell phone.
No matter what software you end up using, don't rely on it solely to make you money. It can be a powerful tool to help you succeed in FOREX trading, but it's very important that you take the time to educate yourself on the inner workings of FOREX technical analysis. It can seem daunting at first, but once you understand how signals are generated you'll be in a much better position to adapt to the ever-changing world that is the FOREX marketplace.
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Showing posts with label Forex Killer. Show all posts
Showing posts with label Forex Killer. Show all posts
FOREX Trading Software Reviews
Tuesday, March 24, 2009 Forex Killer, FOREX Trading Software, Reviews
How To Choose The Best FOREX Broker For You
Thursday, March 19, 2009 FOREX Broker, Forex Killer, Forex Killer Strategy, forex market
How To Choose The Best FOREX Broker For You
by Yusoff Allian
Until recently it was a fairly simple process to figure out which FOREX broker was best for you as there were only a handful available. With the rise of the internet and the explosive growth of FOREX trading, the number of FOREX brokers has skyrocketed. It may seem overwhelming given the sheer number of FOREX brokers available to you, but by carrying out some simple research and doing your due diligence you will be able to pick a FOREX broker that's right for you.
It might be a good idea at this point to back up a bit and understand what a FOREX broker actually does. Basically, a FOREX broker is a person or group of people that carry out trades for an investor. The nice thing about using a FOREX broker is that they don't charge any commission per trade like you see with the stock market. Instead, FOREX brokers make their money by taking the difference between the bid price and the ask price of the currency. Be wary of brokers that take too much of that spread as their fee as it can affect your profit margin. Ideally you want a FOREX broker that charges 2-3 pip spreads, and definitely avoid any that charge anything higher than 5-pip spreads.
Probably the most important factor to look for when choosing a FOREX broker is whether or not they're regulated. Any U.S. based FOREX broker should be registered with the Commodity Futures Trading Commission (CFTC) and should also be a member of the National Futures Association (NFA).
You can visit the NFA's website at http://www.nfa.futures.org/basicnet and look up any FOREX broker you're interested in. Make sure you deal with a broker that has a clean record and has solid company financials. Any FOREX brokers that don't meet either of these criteria should be stricken off your list of candidates!
Customer service is an absolute must when deciding on a FOREX broker. The FOREX market never sleeps, meaning you can trade any time of the day or night. It's very important that any FOREX broker you choose have customer support staff that can be reached at any time, and provide assistance on very short notice. Take note of any positive testimonials on their site that reference the speed and reliability of their customer service, but also visit search engines and try to find other sources that may have written about their experiences with customer service. Good customer service can make a huge difference in your online experience with FOREX brokers, so it pays to do your research.
Find a FOREX broker that offers a trading platform you're comfortable with. The vast majority of brokers offer both web-based applications and downloadable applications. The web-based platform allows you to connect from any computer in the world that has internet access, but can be slower than its downloadable counterpart. The latter has speed on its side, but can only be run from the computer it's installed on. Whichever you choose, make sure the platform offers at least the basics, such as real-time quotes and up-to-date account information.
The criteria listed above are the essentials to choosing the right FOREX broker for you. Other services offered by the broker can be considered icing on the cake, but depending on your situation may also be viewed as critical to your decision making process. Some other factors you may want to consider are the minimum account opening deposit, timely execution of your orders and free charts and analysis.
by Yusoff Allian
Until recently it was a fairly simple process to figure out which FOREX broker was best for you as there were only a handful available. With the rise of the internet and the explosive growth of FOREX trading, the number of FOREX brokers has skyrocketed. It may seem overwhelming given the sheer number of FOREX brokers available to you, but by carrying out some simple research and doing your due diligence you will be able to pick a FOREX broker that's right for you.
It might be a good idea at this point to back up a bit and understand what a FOREX broker actually does. Basically, a FOREX broker is a person or group of people that carry out trades for an investor. The nice thing about using a FOREX broker is that they don't charge any commission per trade like you see with the stock market. Instead, FOREX brokers make their money by taking the difference between the bid price and the ask price of the currency. Be wary of brokers that take too much of that spread as their fee as it can affect your profit margin. Ideally you want a FOREX broker that charges 2-3 pip spreads, and definitely avoid any that charge anything higher than 5-pip spreads.
Probably the most important factor to look for when choosing a FOREX broker is whether or not they're regulated. Any U.S. based FOREX broker should be registered with the Commodity Futures Trading Commission (CFTC) and should also be a member of the National Futures Association (NFA).
You can visit the NFA's website at http://www.nfa.futures.org/basicnet and look up any FOREX broker you're interested in. Make sure you deal with a broker that has a clean record and has solid company financials. Any FOREX brokers that don't meet either of these criteria should be stricken off your list of candidates!
Customer service is an absolute must when deciding on a FOREX broker. The FOREX market never sleeps, meaning you can trade any time of the day or night. It's very important that any FOREX broker you choose have customer support staff that can be reached at any time, and provide assistance on very short notice. Take note of any positive testimonials on their site that reference the speed and reliability of their customer service, but also visit search engines and try to find other sources that may have written about their experiences with customer service. Good customer service can make a huge difference in your online experience with FOREX brokers, so it pays to do your research.
Find a FOREX broker that offers a trading platform you're comfortable with. The vast majority of brokers offer both web-based applications and downloadable applications. The web-based platform allows you to connect from any computer in the world that has internet access, but can be slower than its downloadable counterpart. The latter has speed on its side, but can only be run from the computer it's installed on. Whichever you choose, make sure the platform offers at least the basics, such as real-time quotes and up-to-date account information.
The criteria listed above are the essentials to choosing the right FOREX broker for you. Other services offered by the broker can be considered icing on the cake, but depending on your situation may also be viewed as critical to your decision making process. Some other factors you may want to consider are the minimum account opening deposit, timely execution of your orders and free charts and analysis.
A Review of the Forex Killer Currency Trading Course
Saturday, March 14, 2009 Currency Trading Course, Forex Killer
A Review of the Forex Killer Currency Trading Course
by Brian Garvin & Jeff West
Foreign Exchange (Forex) Trading is one of the largest investment vehicles in the world; over the course of each day, nearly 2 trillion dollars, an amount of money rivaling the entire United States Government annual budget - is traded on foreign currency exchanges each day. Since the 1990s, forex trading has been opened up to private investors, as well as institutional banks, and has become one of the greatest money making opportunities in the world.
In a nutshell, forex trading means converting one currency into another. If, for example, the Euro were trading at $1.20 to the dollar, it would take $1.20 to buy one Euro. Later, the Euro might be $1.40 to the dollar - if you bought Euros at $1.20 and sold them at $1.40, your investment would have appreciated at $1.40/$1.20 or by 16.67%.
Each tenth of a percentage point of change is called a "pip", and good investors learn to read trends in the market, and look for things that signal upcoming changes in the market. Lots of banks invest a lot of money and expertise and data storage into analysts who can read those signals and leverage changes that are as small as a thousandth of a penny - when you're moving two billion dollars on a move, a thousandth of a penny shift translates into a significant chunk of change.
Which is where Forex Killer comes in. Andreas Kirchberger worked for Duetschebank for a decade before forex got deregulated; he's learned more about reading signals that most people will ever have time to learn, and he's made more mistakes (with monetary amounts that dwarf the budgets of most cities) than you'll ever have the time or guts to make. In the end, everything he learned boiled down to this:
He who has the most accurate information at the earliest time gets to make the best decisions, and that information is more than just the current exchange rate, or the historical change rate - it's also a factor of news stories, mass psychology, investor risk dynamics (all investors are prone to riding out the risks for too long, and that shapes trends in currency pairs), and a bunch of mathematical factors.
With the help of several mathematicians and even a couple of top notch psychologists, he's built all those factors into ForEx Killer. ForEx killer comes with a basic tutorial on what Forex trading is. It also "learns" as you hoot it into various data sources, and can be tailored to work on any pair of currencies, or multiple mosaics of currency pairs.
It's designed to spot trends before they crest so you can buy in early, or sell before things crash, and while it's not infallible, it does put many of the same informational tools at your fingertips that the professionals use. Furthermore, because of Andreas' experience with the markets, ForEx Killer can look at trends, match them to patterns, and give you estimated guesses about what else is going on "behind the scenes".
Now, ForEx Killer, like any investment tool, entails some risk. Which is why the program includes a dummy account; you're not trading real money, you're trading made up money, and ForEx Killer will let you do this as long as you like until you convince yourself that the tool works, and that you understand what's going on.
ForEx Killer is only an informational tool; it does not replace the need for a broker, or the need to have a well considered strategy. Decide early on if you want to be a day-trader or a buy-and-hold strategist. Day-trading strategies can make you more money quickly; buy-and-hold strategies involve several orders of magnitude less work, and ForEx Killer will provide you with adequate information to pursue either strategy.
by Brian Garvin & Jeff West
Foreign Exchange (Forex) Trading is one of the largest investment vehicles in the world; over the course of each day, nearly 2 trillion dollars, an amount of money rivaling the entire United States Government annual budget - is traded on foreign currency exchanges each day. Since the 1990s, forex trading has been opened up to private investors, as well as institutional banks, and has become one of the greatest money making opportunities in the world.
In a nutshell, forex trading means converting one currency into another. If, for example, the Euro were trading at $1.20 to the dollar, it would take $1.20 to buy one Euro. Later, the Euro might be $1.40 to the dollar - if you bought Euros at $1.20 and sold them at $1.40, your investment would have appreciated at $1.40/$1.20 or by 16.67%.
Each tenth of a percentage point of change is called a "pip", and good investors learn to read trends in the market, and look for things that signal upcoming changes in the market. Lots of banks invest a lot of money and expertise and data storage into analysts who can read those signals and leverage changes that are as small as a thousandth of a penny - when you're moving two billion dollars on a move, a thousandth of a penny shift translates into a significant chunk of change.
Which is where Forex Killer comes in. Andreas Kirchberger worked for Duetschebank for a decade before forex got deregulated; he's learned more about reading signals that most people will ever have time to learn, and he's made more mistakes (with monetary amounts that dwarf the budgets of most cities) than you'll ever have the time or guts to make. In the end, everything he learned boiled down to this:
He who has the most accurate information at the earliest time gets to make the best decisions, and that information is more than just the current exchange rate, or the historical change rate - it's also a factor of news stories, mass psychology, investor risk dynamics (all investors are prone to riding out the risks for too long, and that shapes trends in currency pairs), and a bunch of mathematical factors.
With the help of several mathematicians and even a couple of top notch psychologists, he's built all those factors into ForEx Killer. ForEx killer comes with a basic tutorial on what Forex trading is. It also "learns" as you hoot it into various data sources, and can be tailored to work on any pair of currencies, or multiple mosaics of currency pairs.
It's designed to spot trends before they crest so you can buy in early, or sell before things crash, and while it's not infallible, it does put many of the same informational tools at your fingertips that the professionals use. Furthermore, because of Andreas' experience with the markets, ForEx Killer can look at trends, match them to patterns, and give you estimated guesses about what else is going on "behind the scenes".
Now, ForEx Killer, like any investment tool, entails some risk. Which is why the program includes a dummy account; you're not trading real money, you're trading made up money, and ForEx Killer will let you do this as long as you like until you convince yourself that the tool works, and that you understand what's going on.
ForEx Killer is only an informational tool; it does not replace the need for a broker, or the need to have a well considered strategy. Decide early on if you want to be a day-trader or a buy-and-hold strategist. Day-trading strategies can make you more money quickly; buy-and-hold strategies involve several orders of magnitude less work, and ForEx Killer will provide you with adequate information to pursue either strategy.
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