Forex Trading Software Comparison

SetForget Pattern Profit

Currency trading is big business. According to the triennial survey conducted by the Bank for International Settlements (or BIS), $4.0 trillion dollars are traded on Forex every day!

If you’ve ever considered learning to trade on the Foreign Exchange Market, now is a great time to start. With the introduction of online trading and Forex software programs, it’s never been easier!

But how do you choose a software program?

First, it helps to know your options.

Forex Trading Platforms: Online trading platforms offer the convenience of dealing with a broker to assist in your trade-making.

Forex Charting Software: If you want to do an in-depth analysis of the market trends over time, this software will do the hard work for you.

Automated/Algorithmic Trading Software: Eliminating the need for frequent check-ups on the market, this software follows a pre-determined set of rules to make trades for you.

Forex Signal Generating Software: If full automation of your trading decisions is a stretch, this software leaves the decision-making in your hands, offering you alerts when certain market changes occur.

Next, it helps to know what’;s most commonly used.

Here are five common Forex Trading Software programs:

  1. eToroThis is a beginner friendly program, offering both a web-based and a downloadable platform. Personal trading coaches are also available. The minimum deposit required is $50.
  2. Ava FXThis program allows you to work on multiple platforms, including online and mobile. In getting started, you will receive a free instructional webinar. The minimum deposit is $100.
  3. Easy ForexEasy Forex offers a personal account manager for all users, whether you work within their online platform or a PC download. Minimum deposit is $200.
  4. GFC MarketsAvailable for download and online use, GFC also offers a mobile program and a meta-program (which comes with a variety of tools preferred by advanced traders). Minimum deposit is $100.
  5. ForexYardThis program has various account-types to choose from, including automated trading, and allows use on multiple forums. You minimum deposit is $100.

And finally, you need to decide what’s important to you.

Things to consider when purchasing Forex Trading Software:

  • Refund Policy – How much time do you have to decide if this software is right for you? And if it’s not, will they refund the full amount?
  • Cost – Is there a one-time fee? A monthly fee?
  • Online vs Download – Will you need to have access to your trading information anywhere and everywhere? Or is having the software only on your personal computer your preference?
  • Updates, Upgrades, and Fixes – Will you receive free (and regular) software updates? If errors are found in the software program, will you receive the fix for that in a timely fashion?
  • Security – Is your software known for keeping your personal information secure?
  • Support – Will you have access to software support? When? Is it free?

Now that you’re aware of the platform options, you know the most commonly-used software available, and you’ve considered the features that will meet your needs, you’re ready to choose the best Forex Trading Software for you.

For more help, check out our Forex Comparison tool.

Tyler writes about forex trading online for Forex Trading Finder where you can compare foreign exchange brokers & find the best forex reviews.

  • Finding Out More Info About The Forex System And Its Benefits (forextradingsystemcentral.com)

Finding Out More Info About The Forex System And Its Benefits

Pips Wizard Pro

Nowadays, a lot of people want to learn about the Forex system because they heard that trading Forex is more profitable than trading stock. Yes, indeed, the forex system is ideal for those who have free time and want to earn money from trading like stock but the risk is less and the profit is more.

At this point, if you have not learned Forex trading, you will say that how can it be profitable since for every trade, you only gain about 0.1 percent of the currency you are trading? It is state-of-art that the Forex trading is not about one trade day but about zillion of trades every hour. As the currency keeps changing overtime, trading Forex if more difficult than trading normal stock.

If you are going to trade, you should learn Forex trading first to know the basic idea of trading and how to trade profitably. After taking a course in learning how to trade, you should spend some months practicing trading Forex with virtual market first to get the idea as well as information and some experience about Forex trading. However, beside learn Forex trading, you have to pay some attention to the changes of the market, too. As the currency keeps changing, it is critical that you have the latest information on the currency rate so that you can have the best trade which brings the best profit. If you trade without reading the news, you are gambling.

Another tip for those who are going to trade Forex is that you should spread out your investment into many smaller pieces which you put on varies of currencies, not on only one currency. You also need to look at the board all the time to see if there is any change on the market as well as any critical change which affects the currency rate.

Another thing you need to learn before trading Forex is that you have to know how to remain calm as well as being patient every time you lost a trade. No one likes losing money, but for both trading stock and trading Forex, you have to know a very important thing “losing and gaining with Stock or Forex system is daily story, no big deal if you can gain a grand in one day and lose another grand in just an hour”.

Finally, trading Forex is far better than trading stock, but you have to analyze the market carefully to trade with less risk.

Smart Tips For Trading In Forex

Super Profit Scalper

I wanted to take the chance  to share with you some smart techniques of Forex trading. The foreign exchange market is the largest and one of the most lucrative market places in the world. There is so much prospective to profit, even in economic downturns like the one predicted in the United States. I hope to give you a an advantage at this with some techniques I use to help myself. Like meal replacement bars, these tips may also sound effective.

The most important thing to know  is that when you’re in a market with very big banks that have a lot of money, you’ll notice that they can easily control the market.Well  it’s not to sound “evil” and they’re doing it on purpose. It’s the result of supply and demand because they can maneuver  huge sums of money. Since there can be a big change in a currency because of a bank, this isn’t good business for you, so this means you should be trading at high volume. High volume simply  means that there are a lot of people and money moving around at this time. Since the volume is so high, supply and demand will remain unaffected when one big player takes place.

Another thing you need to learn is how to control your emotions. It can really can’t help when you let your emotions make trading decisions rather than logical thinking. Some of these emotional tradings  are the stressed out frustration and the gut feeling. If you are stressed, get up and away from the computer. Fitness Training also suggests you to have  healthy work outs. All you need sometime is to cool off. And fop  the gut feeling, you just have to stop listening to it.

Another thing I want to share with you, is a technique for sucking profits out of the market like a tornado, the Forex Funnel.  It’s the hottest new technique for profiting in the foreign exchange market.

Taking Advantage of Euro/Swiss Franc Relations in Forex

SetForget Pattern Profit

As far as Forex trading is concerned, there exists one relationship between currencies of which every Forex trader should know before actually to start trading. It is the correlation between Swiss franc and euro currency pairs – the relationship extremely strong to ignore. According to the Forex market studies, it becomes obvious that the correlation between these currency pairs may be negative 95%. It is called a contrary relationship meaning that – by and large – in case EUR/USD gains in value, USD/CHF loses value in general. The opposite is also truth.

It is generally known that during the longer periods of time, like one year, the majority of currencies traded against the US dollar have over 50% correlation. It happens since the US dollar is a leading currency included in 90% of Forex transactions. Though the strong correlation between USD/CHF and EUR/USD occurs partly thanks to the general dollar impact in the two currency pairs, the explanation why the relations are much stronger than in other currency pairs comes from the tight links between Switzerland the Eurozone.

Switzerland borders on other Eurozone countries and, as a result, enjoys very close economic and political links with its bigger neighbors. The agreements between Switzerland and the Eurozone signed in 1972 and in addition to more than a hundred further mutual agreements that followed later enabled the free influx of Swiss citizens into the labor force of the EU as well as the slow but sure opening of the Switzerland employment market to citizens of the European Union. However, the links do not finish at this point. 60% of Swiss export is intended for the Eurozone, and 80% of imports are from the European Union.

As far as Forex trading is concerned, if EUR/USD and USD/CHF are long, two strongly offsetting positions are obtained or, on the whole, EUR/CHF. In the meantime, if one currency pair is long and another one is short, the same position is actually doubled up, albeit it can look like two different Forex trades. It is essential to realize for the suitable risk management since if something is skewed when one currency pair is short and another is long, losses can be multiplied easily.

The relations between the USD/CHF and EUR/USD decouple when there are different political or fiscal policies. For instance, if elections cause insecurity in Europe while everything is all right and stable in Switzerland, EUR/USD can decrease more in value than USD/CHF increases. On the contrary, if the Eurozone lifts interest rates assertively and Switzerland does not, EUR/USD can gain in value more than USD/CHF loses in value. On the whole, the fact that ranges of the two currencies may diverge more or less than the point difference, is the main reason why interest rate arbitrage in the Forex market applying these two currency pairs doesn’t work. The ratio of the range is measured by dividing USD/CHF range by EUR/USD range.

Provided by A. Collins who is a creator of simple forex trading system which is available on Forexeasystems. Also you can find there mt4 plugin Fx Pulse which can automatically collects Forex market information and displays it directly on the trading chart in real time.