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Forex Killer Signal Software Review

A signal generator or a program that does all the analytical work in finding trading signals for a chosen currency pair has plenty of merits as part of a trader’s broader trading system. A problem facing traders is when to correctly enter a trade if there is doubt over the strength of a signal.

Automatic and unbiased trading signals from the signal generating software helps eliminate the uncertainty of whether to enter into a trade.

By taking out the analytical work involved in technical analysis, traders can focus on other research areas, including price action and fundamental analysis. One of the best forex pickers is the forex killer.

Forex Killer Is A Signal Generator

As a signal generator, Forex Killer should not be confused with automated trade programs like Odin or Vader, which carry out the actual trading work.

Forex Killer requires a little more from you in this respect and is ideal for traders who want more control over their trades than an automated program that finds trading opportunities, acts on them, and then pulls out when that trade goes south.

To use Forex Killer, you need to have a basic knowledge of the forex market that extends to technical analysis.

Forex Killer works well to spot trends and signals

Dramatic names aside, Forex Killer is a very competent and powerful forex signal software tool designed by a successful forex trader called Andreas Kirsch Berger. Its algorithms, which it uses to trade, are based on several winning trading techniques, all bundled into one trend scouring forex picker.

Forex Killer also makes use of behavioral overlaps finding strong trends from the past and looking for similarities in the current market for a currency pair. Professional traders have always used historical data for trading directions regularly.

Forex Killer Key Features

Free lifetime software updates
An easy to understand software tool
Independent software that is compatible with many trading platforms
Works with wide ranging currency pairs
Suitable for both new and experienced FX traders

Results

Traders report profitable outcomes using Forex Killer on signals generating a 75% probability and upwards.

The Importance of Demo Trading in Forex

A vital forex tip is to use a demo account when you first start trading online.

Undertake demo trading for the first three months before you start trading with real money. All good online brokers will offer a demo account.

It is a crucial tip to cut your teeth on the forex trading demo account. Familiarize yourself with the software and the platform. It is essential only to study one or two of the major currency pairs; the major currency pairs are the best to follow as they are the most liquid.

Demo trading allows you to develop a feel for the market

A demo account allows you to get a feel for your chosen currency pairs’ movements. Demo trading also allows you to hone your wider forex strategy through backtesting and paper trading until you are ready to progress to real money. F

or example, Cable or the GBP/USD can be very busy in the morning European session but is quieter once the American market gets into full swing. Learn and get a feel for these and other such trends before you start trading with real money.

The best way to trade forex is to confirm a trend. A trend is confirmed by looking at a chart, a process known as technical analysis. Many traders make it their business to predict where the market is going before it happens and trade accordingly. It is a crucial and essential for forex trading.

Bonus tip

Depending on what time frame you want to take a strategic position will make a big difference for your overall strategies. A bonus tip is if you are taking a position over the short term, perhaps one week to one month, then you do not want to be looking at a long term chart. When you are starting, have a plan, and keep everything simple.

Historical charts, patterns and signals

Professional forex traders use charts to check the markets daily, and view historical data to make informed decisions as part of their overall trading strategy.

Basing decisions on historical forex charts, records and patterns in order to make sound and rational decisions is common sense. For example, cable has sat below 2.40 since 1980 and has never been back to the same spot ever since. Such data, must be valuable to a position trader.

Charts can give you a long term report of the position and strength of certain pairs. Inevitably there will be pairs that remain strong throughout.

Charts are crucial for making rational decisions based on signals and patterns

As well as trading software, credible historical forex charts are made available by economic institutions that have been involved in the long term analysis of fundamental and technical trends.

It is important that you derive your historical charts from a reputable institution as the value of the chart is diminished based on the lack of accuracy.

A Look At The MetaTrader Platform & Charting Software

Most online forex brokers provide a forex trading platform for their clients. Some online brokers have built a bespoke trading platform, but many use a platform under license known as MetaTrader.

What is MetaTrader?

MetaTrader is a software product from MetaQuotes, a Russian software company, and has become one of the best forex trading platforms.

First released in 2002, an enhanced version called MetaTrader 4 was released in 2005 and saw its popularity grow with online forex brokers. MetaTrader 5 was released in 2010 and is the current version available. Broker preference for MetaTrader lies with it being a full-cycle trading platform with both a front-office terminal and a back-office system. It means a broker does not require additional software to to start or grow a business.

What is behind the popularity of the MetaTrader platform?

MetaTrader offers several advantages for users. The user interface and user experience are excellent with easy to use tools, including interactive charting software. For traders, the ability to plug in third-party software, including forex robots, has also been vital in the growth of the MetaTrader Platform.

Forex Robots and Expert Advisors using the Metaquotes, MQL coding language now proliferate the forex software market. Traders incorporating automation as part of their overall trading strategy are naturally attracted to MetaTrader.

MetaTrader is a software product from MetaQuotes, a Russian software company, and has become one of the best forex trading platforms. First released in 2002, an enhanced version called MetaTrader 4 was released in 2005 and saw its popularity grow with online forex brokers. MetaTrader 5 was released in 2010 and is the current version available.

Meta Trader Charting Software

The charting software, available for users of the MetaTrader platform is excellent. MT4 and MT5 both have solid charting software with similar features to Esignal and Ninja. MT5 has improved charting timeframes over MT4 with 21 time frames available. MT5 also has 38 built in indicators compared to 30 on the older MT4 software. Users love the interactive capability of MetaTrader charting software.

Self-build automated software using MQL

As well as plugging in automated software purchased from developers and built using MQL coding, some traders also develop their MQL4 and MQL 5 scripts using MetaEditor to create an algorithmic trading program that aligns with their strategy rather than buying off the shelf.

If you have a proven and profitable trading strategy and want to build Expert Advisors or Forex Robots closely aligned to your strategy, it is also possible to hire forex software developers if you do not have the coding skills.

Finding a freelance coder specializing in forex may not be secure. Thankfully, the forex trading community on forex dedicated forums is an excellent place to discover recommended developers for MQL software.

An Insight Into Forex Trading Software

An FX trading robot uses a computer program to monitor currencies and does calculations using a pre-programmed algorithm to work out the best time to buy and sell.

It takes the guesswork out of trading by instilling statistical expectancy in a system when buying and selling. It helps a trader to identify currencies that meet specific criteria, or when certain currencies perform in a particular way.

There is lots of research available online about forex trading software. Like any other tool, it needs proper research. Trustworthy reviews from authoritative sites and feedback from forex community forums are essential before buying software. To successfully use trading software, you need to fully understand how it works and how best to apply it as part of a strategy.

Risk managing automated software

Most selling points for forex robots revolve around setting them and watching the profits accumulate. In some cases, this may work, but mostly you have to carefully monitor the program to ensure it is adjusting to trends in the market. Expert Advisors offer more control for a trader than the complete automation including trade placement available with forex robots

While it can be very profitable, automated trading software does require a certain amount of intervention to be run effectively.

Backtesting is vital

Backtesting is essential before trading live using automation as part of your trading strategy. Testing for weeks or months is not unusual to accurately test a system offline using both historical data and demo trading for system validation. Used properly, and with the patience to research the best software for your specific forex strategy thoroughly, it can become a powerful tool.

Key thought

Forex trading software can be a crucial addition to a broader trading system. If you read about the psychology of trading, automated software helps take the emotion out of trading. For success, the software must backtest appropriately, and only then should it be considered for live trading.

The Ins and Outs Of Online Forex Trading

Online forex brokers with user friendly platforms like MetaTrader provide retail traders with a straight forward way to start trading FX online.

New traders who just want to get a feel for forex trading can use a free demo trading account where an online brokerage account is loaded with a theoretical amount of money, such as 50,000 US dollars for demo purposes. You then start trading like you would trade if youwere trading live with real money and not on a demo account.

FX trading can be hard due to the sheer volatility and pace that the currency markets move at. Once you get used to the directional swings, master the online FX trading software and work out a strategy you are on the right path.

The popularity of FX trading online

Fx trading online is available globally 24-hours a day, Monday through Friday. The development of online forex trading platforms allow trading to be conducted from any location that has internet access and cellular connections.

The fact that Foreign Exchange is a non-centralized global financial market is key to its trading popularity. Stability in the FX market is provided by a wide range of international financial institutions and tight market prices are available to both retail and institutional investors.

Does Forex Trading Have a Hidden Secret or Magic Formula?

There is no magic formula or secret behind profitable forex trading. Successful traders make money day in and day out because they have a robust trading system that works no matter what.

Like experienced traders, you will need to have a Forex trading strategy before you place your first live trade. If you want to trade profitably, you will have to follow your trading plan religiously.

Having a robust forex strategy is crucial in volatile currency markets

Due to the volatility of the Foreign Exchange Market, it is sometimes challenging to react coherently in a fast move. To make the right trading decision in fast-moving markets it is vital to follow a trading plan.

In the middle of a volatile trading day, a robust trading system is essential due to the following two factors:

Emotion and stress

A trading strategy takes away emotion, which is not a useful attribute when you are under pressure and need to think clearly and rationally.

Having a forex strategy means that you do your research before you place a trade and do not have to analyze complicated technical indicators and signals in real-time and avoid confusion and make the wrong decision. You start to work on autopilot, and it becomes second nature to follow your trading system because you know it works due to statistical expectancy.

Discipline and risk management

Money management is an essential part of any successful forex trading strategy. Knowing how much money you are prepared to lose dictates the forex strategy and the path that you will follow.

If your strategy is to have just 1% of your capital at risk, as long as your stop-loss is reflective of this, you will remain true to your system even in volatile markets.

Ivybot Forex Robot Review

Ivybot was an Expert Advisor initially developed by a group of Ivy League graduates who were trading the currency markets while still in college. Their knowledge in mathematics, computer programming, and finance helped create the Ivybot Forex robot. The product was the result of extensive accumulated trading experience in the field of manual trading.

The Launch of Ivybot

The Ivybot was initially a toll for the graduates’ own personal forex trading deals only and saw an eventual release as a licensed product to the forex trading community.

Following its release in the late noughties, there was a lot of interest surrounding the product. Unfortunately, Ivybot did not live up to expectations and is no longer available to purchase as a product.

Poor Performance Reviews

Reviews were quite scathing of the Ivybot with complaints revolving around the EA risk settings and how they did not always work, leading to trading losses.

Key features

Four robots made up the Ivybot. Each robot was designed to manage a different currency pair. Many trading software robots have a single set of code that calculates different kinds of pairs. The Ivybot had four, which at the time was sophisticated.

The Ivybot software cost $149.95 as a one-time payment when it was available for sale

A claim that the EA would increase your seed deposit by 500% in just 190 days.

The Ivybot was an EA to keep track of market conditions and movements 24 hours for coverage across the different world trading sessions.

Backtesting by the developers showed it to be an efficient robot with features optimized for high winning percentages.

The developers behind Ivybot promised unlimited software updates for purchasers of their software.

Trading The FX Markets With Software

The Foreign Exchange market is dynamic and fast-moving. Forex trading software helps traders monitor an ever-changing market to make informed trading decisions.

Currency trading involves taking strategic short term or long term positions of currency pairs to make a profit from their changing values.

Economies go through periods of both growth and decline, and these changes reflect the relative values of the currencies associated with each marketplace.

Having the proper positioning using an underlying trading strategy with software and knowing when to exit the market can lead to substantial profits over short and long term time frames.

Getting started with forex software

The software and online tools available for retail investors allow the monitoring of markets and the sending of notices and alerts to users through various desktop and mobile devices.

Trading the forex market with a good strategy and software can produce profits of anywhere from five to thirty percent in a matter of moments. Still, without the proper management, it is capable of producing the same type of losses.

In Forex Trading You Need To Make Money Fast

Foreign Exchange is the world’s fastest-moving financial instrument. It is more volatile than equities, bonds, or commodities.

The underlying Foreign Exchange spot market moves first when any news or economic data comes out. It has a knock-on effect as the derivatives market (derived from the underlying spot) starts to react to the underlying spot rate.

If you are a market participant in Foreign Exchange, whether your a Spot Trader, a Derivatives Trader, or a Sales Person, the brutal volatility of Forex burns your metabolism, it is punishing working from seven until five (the London Trading Day) every day.
Forex a short window of opportunity.

Forex Burns Your Metabolism Fast!

Due to the enormous pressure, a career in Forex is a short one, and you only have a short window of opportunity to make your money. It is not often you see forty-five or fifty-year-old Forex Traders still active on the trading floors of large Investment Banks. They may have moved off the floor into higher managerial positions or moved into slower-paced areas within Banking. It is also highly likely having made their fortune they are doing something else.

Forex: Get Ready For A Roller Coaster Ride

If you want to make money quickly, a career in Forex may be for you, but be prepared to take the rough with the smooth and be in for a roller coaster ride. Be ready to work hard, and if financial rewards do not come your way quickly, do not hang around, move into an area where you can enjoy a longer career.