Choosing the right forex trading software is hard. However, there must be a way for us to choose the right one, and to make money using the right method.
Forex trading platform is the first thing to choose by the forex traders which can be obtained from the forex brokers. The second step forex traders have to look at is the additional features such as do they provide you forex charting software, forex technical analysis tools software or forex trading signal software? How good are they? How many indicators are there? Then the last one to choose is the Forex Robots which are optional; however a lot of people are searching for Forex Robots that can make a lot of money from the market. We will discuss furthermore on how to choose the right forex robots below:
1. Forex Trading Platform
Forex Trading Platform can be either your forex broker's own trading platform or MetaTrader4 Trading Platform. Forex Broker's own trading platform normally features charting tools, indicators and news to help traders easier to identify opportunities to enter the market. While MetaTrader4 uses EAs or Expert Advisors for automated trading, allow traders to build their own indicators and strategies, manage multiple accounts and trade with multiple orders types and execution options.
2. Forex Charting Software
Allows you to look at market trends instead of just looking at the bid and ask price using Japanese Candlestick Chart, Bar Chart, Line Chart, Point and Figure Chart, Kagi Chart, Renko Chart, HeikinAshi Chart or Three Line Break Chart. Besides they normally come with drawing tools for you to draw support and resistance lines or trend lines. Some charting software also provide Fibonacci tools, Gann tools, DiNapoli tools, Pivot Points for advanced traders. Some charting software identify price patterns automatically for you such as channels, triangles, rectangles, pennants, head and shoulders, double tops, double bottoms, flags, wedges allowing you to enter the market based on breakout patterns.
3. Forex Technical Analysis Tools Software
Allows you to use Technical indicators such as simple moving average, exponential moving average, Bollinger Bands, Stochastic Oscillator, Relative Strength Index(RSI), Moving Average Convergence Divergence(MACD), William Percent R, Ichimoku and others.
4. Forex Trading Signal Software
Allow you to look at trading opportunities to long or to short at certain levels which are generated by their Forex trading signal software.
5. Forex Trading Robots or Forex Trading Automated Software
Allow them to trade for you automatically based on their pre-programmed currency trading methods. Forex trades may not be 100% winning and Forex traders must know that there is no holy grail system which can guarantee you 100% winning trade, it can be 80% winning rate and 20% losing rate or 60% winning rate and 40% losing rate or others after trading for a specific period. By choosing the right one, you will definitely earn money from the market. Forex traders may have to look at how good the product’s sale is, how many testimonials they have, any reviews are there before buying them.
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Online review of Forex Robot FAP Turbo Software
Nowadays alot of forex traders are searching for the best forex automated trading software available in the market, however it is not an easy task especially when you want them to make money for you in the long term. However, we have come across one of the best forex automated software available in the market which is called FAP Turbo.
