5 Mistakes To Avoid When Choosing Forex Trading Software

April 6th, 2009

As an experienced forex trader, I have made some mistakes in choosing the wrong forex trading software. There is no doubt that this can be a costly decision, and their are definitely some pitfalls you need to be aware of. Here are 5 of the most common mistakes.

1 – No Feedback

Always seeks customer testimonials and positive feedback on the product you are interested in investing in. Personally I think forums are the best place to find these – as testimonials can sometimes be doctored.

2 – No Live Marketplace Analysis

Some form of live marketplace analysis is crucial in the software you are considering investing in. Without this you are essentially flying blind.

3 – No Demo Account

You need some form of demo account to test out the forex trading software. Why should you ahve to risk your own capital on a system that has not yet proven itself?

4 – No Live Support

When utilising forex trading software, some form of live support is crucial – be it via online or phone. You may encounter problems which will require support.

5 – No Money Back Guarantee

If you have any doubts as to the potential of the product, then make sure you can get a refund before you purchase. This is one of the clear-cut advantages of purchasing the software on the clickbank network – you are guaranteed a refund if you are unsatisfied. This way you can simply refund the product until you find one that delivers and matches your needs.

Conclusion

Finding forex trading software is not easy – hopefully this post has shown you the things to avoid so you can make a more informed decision.

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Forex Trading Software – How To Choose Forex Software Which Delivers

March 12th, 2009

Choosing forex trading software can be extremely difficult. The market is continually flooded with the latest products which all receive huge amounts of hype and quite simply do not live up to most of it. I have been specifically careful in the products I choose to recommend, cause I know what it feels like to be a newbie trader, with little cash and seemingly endless opportunities. This is a brief article on some things for you to look out for.

1-  Think Of Your Experience

I don’t care who you are choosing what kind of forex trading software is right for you comes down to your level of experience. I would always advocate that you have the basics down before investing in anything – but ultimately your capabilities and know-how will determine what product is right for you.

2 – Amount Of Capital To Play With

The more capital you have to play with, the more leverage you will have. The more leverage you have, the eaiser it is to make consistenly small profits. So in short always trade with as much capital as possible – certain forex software systems are designed to operate on varying amounts of capital

3 – How Many Currencies You Want To Trade On

Certain forex trading software are limited by the amount of currencies they are designed to work with. You basically want as much flexibility as possible – but these are limitations you need to be aware of before investing.

4 – Forex Software or Forex Robot

Forex software and forex robot’s are closely linked. Some are marketed incorrectly-  some are completely misleading . Basically a forex robot is an automated forex trading system which can make trades for you. forex trading software on the other hand is s generally software which can predict market swings so you can trade manually.

Conclusion

Hopefully this has helped you understand the factors and challenges in choosing forex trading software. Please feel free to drop me a line or write me a comment if you want more information.

Later,

Peter

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Forex Trading Software On Hubpages

February 18th, 2009

Hi Everyone,

I just released my hubpages blog – you can check it out HERE. I have set it up to provide further reviews and interesting information on the forex marketplace. Again trying to get the message out that you need a basic understanding of forex before you dive into a forex trading software sytem designed to automate the process. I do feel strongly about this, and want to make sure that everyone can get the information they need on forex so they can trade with consistent success.

Later,

Peter

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Forex Trading Software Review On Squidoo

January 4th, 2009

Hi Everyone,

Its long overdue but finally I have created my Forex Trading Software Review Squidoo Lens.

You can check it out here.

Its pretty much going to have similar content to this blog.. Trying to help newbies understand the importance of learning the basics of forex, then showing them the way with the leading forex trading systems available.

Later,

Peter.

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Forex AutoPilot System FAQ

June 9th, 2008

Hey Everyone,

Just been getting some questions on Forex AutoPilot System via my YouTube videos, thought would share the answers with you all:

1) Do you need capital to test out Forex AutoPilot System?

– There is a demo feature – which allows you to test the features of Forex AutoPilot System without having to invest any of your own cash.. But in reality I would reccomend you have at least $500 as a starting point for trading.

2) Why would you choose Forex AutoPilot System over something like Forex Killer

– It all really comes down to experience, and the time you have to invest in your trading. If you are new to trading, and only want to do it part time to earn some ‘pocket money’ then Forex AutoPilot System would be your best bet. Forex Killer on the other hand is for your more experienced trader’s, who are looking for more flexibility and want to trade manually.

3) What are your thoughts on Forex Easy Cash?

– I tried it out, and was not that overall impressed. The results were not as impressive, and I applied for a refund. This is why I have no reccomended it on my Forex Trading Software site.

Hope you are all doing well,

Peter J.

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Forex Trading System – What Qualities To Seek

March 4th, 2008

Any forex trader worth their salt will have a system which they follow religously to achieve maximum profits with minimum risks. Once a trader has had repetitive success with a given system it will result in a product released as detailed on my Forex Software Review site. Here are some qualities of a successful forex trading system:

1) Selection Of Term: It has been proven time and time again that by favoring a medium term trade you eliminate as much risk as possible and maximize your possibility of returns. The idea is to make many small succesful trades as opposed to big wins, and big losses.

2) Be Analytical: At the core of forex trading is the interpretation of statistical dada and marketplace history. There is no place for emotion or ‘gut feelings’ in forex. This often leads to failure

3) Time Trades To Perfection: Further to being able to predict trends, you need to be able to act upon them with precise timing. This means knowing the exact times to enter and exit a trade.

Click HERE To Learn More About The Best Forex Trading System’s Available

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Forex Trading System – Things To Look Out For

March 4th, 2008

Whichever forex trading system you are considering purchasing, there are a few fundamentals to look for before you commit. Firstly the forex system should be based on the fibonacci formula, or have some aspect that relates to it. This has been proven time and time again the most reliable method to predict when to enter and exit a trade for maximum profit. Secondly ideally you should be seeking a forex trading system created by a reputable and experienced trader. There are a lot of scams out there, and you want to be sure you are investing in a quality product. Finally it is always advisable to seek a money back guarantee, again any quality product will offer this without question.

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Forex AutoPilot System Review

March 4th, 2008

Forex AutoPilot System is the latest release in a string of forex robot products. What sets Forex AutoPilot System is the structure and foundation of the algorithms which accurately predict market trends and activity. To see this amazing forex trading robot in action you can trade on a demo account- without risking any of your own capital. The system is based on the Fibonacci Formula which can decipher when is the most profitable time to enter and exit a trade. Well worth a go, specifically if you are clooking for a completely automated system for your trading.

Click HERE To Read Full Review

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5EMAs Forex Review

March 4th, 2008

The 5EMA’s Forex system claims to generate monthly returns of between 30% and 55%, which seems an inflated claim. The system is completely new and unique- never before commonly used by forex trader’s. The system is extremely easy to understand and follow, and particularly flexible so you can adapt to your aspect of forex trading. It is advisable to be involved full time in forex trading if you want to get the most out of this system- the emphasis is on long term trades, which require little maintenance and still realize significant profits.

Click HERE To Read Full Review

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Forex Trading Machine Review

March 4th, 2008

Avi Frister, the creator of Forex Trading Machine, has over 11 years experience in forex trading and a lot of his knowledge and experience is evident in the quality of this product. As Avi states on his site, he created Forex Trading Machine based on his desire ot be amongst the top 1% forex trader’s in the world, which he has certainly achieved. Forex Trading Machine has a bit in common with Profitable Trend Forex System – in that predicting trends and acting upon them with precise timing forms the basis of his unique system.

Click HERE To Read Full Review

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