Forex Killer is a forex system that can allegedly earn you over $500,000 in less than two months, if you believe some of the reports. While forex can be profitable for the skilled few, claims like these sound a little far fetched to say the least. Does it live up to it? Read on to get the lowdown on Forex Killer…
Trading programs like Forex Killer have been around for a number of years now. The basic idea is that you install some software onto your computer, open an account with an online brokerage service (very simple to do and free) and then let the software do the work and generate profitable trade after profitable trade.
Forex Killer has a slight difference from the majority of software like this, in that it will require you to input some figures obtained from the brokerage software, so it can generate signals. This is simple, just a matter of literally putting numbers in ten boxes and then hitting the “Calculate” button. Once you’ve done this the Forex Killer software will go to work, and come back to you with some signals/instructions. All you need to do from there is buy when it tells you, and sell when it tells you. Pretty simple.
The downside to programs like this, is that they aren’t completely infallible. Basically they work on percentages and probabilities and past patterns etc, which is not to say it’s a bad thing, but it means the results are not guaranteed. Be that as it may, Forex Killer and other related programs can be very profitable, as long as you take the time to set sensible stop losses and take profit targets.
A huge benefit that Forex Killer and a few of the other similar programs share is that they will provide you with a free $500 demo account with certain brokers. This means you can effectively test the programs out with “play” money using real signals and real figures from the foreign exchange markets. This can be a great way to give you increased confidence before you take the plunge. Couple that with the fact that Forex Killer has a 60 day money back guarantee, and you have a very tempting money making proposition.
By: Felix Gould
Posts Tagged ‘Profitable Trade’
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January 8th, 2010
Foreign currency exchange market is an attractive and lucrative online investment opportunity. More people worldwide are trying out their skills and luck in forex trading. And who can really blame them?
Online currency exchange is a golden door to cash balance where currencies are traded simultaneously for one another, to flexibility where every financial world headline plays an important role in decision making, to financial freedom where you can make thousands in minutes sitting next to your computer at home! The question many ask is how much do forex traders really earn? Assuming that the average forex trader is responsible, serious, well-read and patient, what is the average profit? And what factors play important role in earning cash in forex trading?
In case you are new to all of this, forex means foreign currency exchange and it basically deals with buying and selling different currencies simultaneously. Profits are based on the success of the trade. You make money in case you buy-low and sell high. You loose money when you buy-high and sell-low.
Forex trading is still considered a high risk investment overlooking the fact that high risk evolves from the lack of knowledge, practice and money management. Forex is complicated for those who don’t invest enough time into learning the basics. Funding your account with couple of hundreds will not ensure you a profitable trade if you have no idea what trading really is. So, before you seek fast and easy money, you should consider understanding the market you are getting into.
Forex profits also depend on the initial investment capital. If the initial deposit is just $5, it is most likely that you won’t collect anything larger than $10 per month.
Another overlooked trading issue is choosing the right lot size. The lot size plays a crucial role in profit making and should be taken seriously. By trading large lots with a small account fund usually leads to a complete disaster. Instead of quick-and-easy-cash you get fast-and- nonrefundable-losses.
Last month ForexExplore.com has conducted a survey “What is the maximum profit you’ve ever made in forex?” Below are results of the monthly poll:
$1- $5(12.3%)
$6-$50(5.3%)
$51-$500 (10.5%)
$501-$1,000(12.3%)
$1,001 – $5,000(21.1%)
$5,001 – $10,000 (21.1%)
$10,000 – $50,000(12.3%)
$50,001 – $100,000(1%)
more than $100,001(5.3%)
So, there you have it. Making consistent income working from home is not just a dream. Buying a new car after a month of trading is not an illusion. Spending some time with your family instead of coming home exhausted and grumpy after yet another day in a cubicle is not an unreachable goal.
There is no magic… no focus-pocus… Get serious about forex trading, dedicate your time and mind to learning the basics, practice with demo accounts and build yourself a better life, because if you won’t nobody else will.
By: Danielle Franklin
