Forex Money » Forex Charts

Review of Two Forex Analysis Software Packages

admin — Mon, 26 Apr 2010 15:50:19 +0000

The most profitable stock traders often act on inside information, or information about the market that the average investor doesn’t know or even have access to. This isn’t true of the forex trading market. All the information needed to analyze the market and make well-researched trades is available to anyone. The problem is having the time to gather enough information, analyze that information and turn it into profitable trades.

That’s where forex trading software comes in. It is designed to follow trends in the market and recognize when a favorable position is likely to occur.

That doesn’t sound so hard. And, in fact, it isn’t. You can learn which trends to watch for and gather all the information yourself. The trouble with doing it manually is that the amount of data needed to track trends of every currency pair is voluminous! You can cut it down some, spend full time at it and still miss some important profitable trends. Having software do it for you is a huge assist.

Another good reason to use these forex trading analysis tools is to learn how the forex market works. Charts and analyses will lay out the trends the software is tracking. When it makes a recommendation, you’ll see what happened in the market to make the software foresee a significant jump coming. In this way, you’ll gradually increase your knowledge and learn how to make a greater percentage of wise trades.

Here are two good forex trading software packages at different price ranges. Choosing either one will be of great benefit. Of course, the more expensive one is superior by far, but your budget may dictate where you start.

TRADING SOLUTIONS

Trading Solutions is one of the most comprehensive forex trading tools on the market. It is very customizable and the incredible in-depth analysis given is second to none. Here are some of its features:

- Flexible charting tools – Easy-to-use interface – Customizable spreadsheets – Step-by-step wizards – Advanced technical analysis – Comprehensive signal analysis

It’s pricey at $995, but it’s worth it, if you can afford it. Plus, you get a free trial. Give it a try and see if your trading success improves during the trial period. Perhaps you’ll find a way to dig up that purchase price!

LAZY TRADING

At $79, Lazy Trading is a much less robust tool for forex trading. But it could be the right tool if you’re a beginner and just can’t afford a more complete software analysis package.

It’s a simplified version in most ways. It still does all the hard work by retrieving the forex data and analyzing and finding the trends. However, it won’t present the detailed charts and in-depth analysis that Trading Solutions does. Instead it just displays a simple text recommendation saying if you should trade and if so, what you should trade. If you still find all the graphs and stats confusing, this will work for you as you learn. If you’re experienced at forex trading, this one will surely be lacking the detail you’ll want.

No matter which forex trading software package you choose, you should see a substantial increase in favorable trades in your account by using it.

By: Michael Russell

Forex KISS Strategy – Profits For Sure

admin — Wed, 14 Apr 2010 20:45:47 +0000

Most experienced traders consider that the best and most profitable of the capital markets is without doubt the Forex market. During many years Forex trading had been not for everyone but the sole domain of the major banks, large financial institutions and countries central banks; for example the U.S. Federal Reserve Bank. Fortunately these days, thanks to the internet the market has been opened to anyone willing to learn the appropriate techniques in forex trading and with the intention of making substantial profits using the same pathway the large institutions use to consistently make pretty high profits from trading in the Foreign Exchange market.

The Forex markets are open 24-hrs a day during most of the week, allowing forex traders a huge flexibility to enter end exit their trades. As long as the markets keep open the prices will be constantly fluctuating and reacting to news and market conditions. All this activity can be easily seen by looking at the forex charts. And is thanks to this fluctuations that traders can have the potential of profitable trades the whole day.

But the simple potential of high profits is not enough to feed your bank account. What you need is a reliable system that will turn the profit potential into real cash for you. Here is where the KISS strategy can work marvels for you if you know how to implement this great and reliable forex system.

What is the Forex KISS strategy?. In short; this forex trading strategy is an original system that relies on the long operating week of the currency markets and it shows you how to make a wise use of your stops and entry orders applying them in such an order and sequence that you can easily duplicate your account capital in less than three months without having to worry everyday about losing much money from your account. Maybe the only drawback of the system is that you have the keep your computer working on the markets most of the week. The goood news is the system works alone most of the time.

KISS if without doubt one of those Forex system that will make many people turn to the currency markets as a reliable source of income.

By: Adrian Pablo

Forex Candlesticks Made Easy Review – How Does This Forex Technical Analysis Tool Work?

admin — Tue, 16 Mar 2010 03:47:13 +0000

Have you ever wondered how you can use candlesticks to trade the Forex markets? Japanese candlesticks are a really useful technical analysis tool that has been used commonly for trading stocks and commodity futures.

Professional traders have also used candlesticks to trade the Forex market, but their application on the Forex charts can be a little different. For example, since the currency market is a 24 hour market, there will be fewer gaps up and down between candlesticks (except during weekends), so you will need to change your approach.

1. What Are Japanese Candlesticks?

There are 2 types of candlesticks. The one that is bearish is usually red or colored, whereas the bullish one is green or transparent. A bearish candle is one that has closed below its open price, while a bullish candle has closed above its opening price. Usually there will also be shadows, otherwise known as “wicks”, that appear above and below the candlestick body. This is the price range that the currency pair has traded within the time period.

2. My Experience with Using Forex Candlesticks Made Easy

Inside this ebook I have learned all the major chart patterns that can predict price swings and continuations very reliably. Some of these patterns include the shooting star, Marubozu, engulfing patterns that can predict price movements reliably.

Of course, you will need to be more creative when looking for engulfing patterns, since it is harder to find this pattern when the next candle always opens at the same price as the previous candle’s close.

3. Are Japanese Candlesticks Really Useful for Forex Trading?

Most definitely! With this trading tool, I can now more easily analyze the market conditions and predict with a high degree of accuracy the future market trend.

By: William Barnes

Learning Forex Through Forex Education

admin — Sun, 07 Mar 2010 07:54:34 +0000

Investing a great amount of money is no joke. Much more when you are trying to invest on a dynamic and highly demanding business as the foreign exchange or forex. This is the reason why most of the time, only those that are already experts in the business are trying their luck in this trade. But did you know that it does not have to be that way? That an ordinary investor can be a valuable and bankable trader in forex too? That is when you do enroll yourself to various forex educations available in the web. You can even join ‘webinars’ or web seminars that are manned by senior forex specialists.

Online forex education is chopped into many different courses. These involve workshops, practices, and trainings that will provide not only knowledge and skills but also build the attitude required for a successful trader. Part of the education is to teach you on how to gather fresh researches and forex charts to accompany your big decisions of buying and selling. You will also be taught about how to tabulate your own platform, and to pick the perfect type for your account.

As soon as you are all set, a demo account will also be provided for you to do practice bidding on. This will help you establish your skills during final and live dealing environment. There is nothing for you to worry on because these demo workshops are free of risk, just to boost your confidence relying on your own abilities and capabilities

By: John F Smith

Forex Automatic – What’s the Ultimate Forex Automatic Software For Beginners?

admin — Thu, 04 Mar 2010 13:28:07 +0000

Forex Automatic, alternatively known as Forex automated systems have been in high demand this year as home trading has now become the most popular home business for people wanting to make their living online or add to their current income to help ease financial matters.

For most, the attractiveness of making your money online at home, avoiding the stresses and strains of everyday life is so appealing that first time traders tend to fall short by placing large deposits on “lots” using forex automatic systems that won’t make you money just like that.

If you’re new to FX trading such systems that purport to scalp you so many pips per deal just on autopilot are simply not realistic. It is true that automated systems can deliver serious returns within the space of a days trading but making money through forex automatic software is only part of the system which will help you succeed in this profession.

If you are completely new to Fx you should consider personal online trading depending on which platform you use. This is normally conducted over the phone or through an online chat system. You should also familiarize yourself with this system, learn and understand their technical analysis, their financial indicators, how to read their forex charts and understand their forex glossary.

You should also be trained on how to open, modify and close deals, ideally through video tutorials. These will then show you how to use their f”orex automatic” software, or their Trade Controller as it’s sometimes known. This will help calculate potential profit scenarios and adjust your SL and TP margins using complex algorithmic software. The definitive tool if you understand your technical and fundamental analysis system.

You should also have the opportunity to view what currency pairs are being traded, which are the most popular and which ones are being bought and sold. Having this inside view will greatly enhance your forex automatic system giving you the aggregate structure of these deals.

By: Rob R Carmichael