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Forex-trading-software---finding-the-best-automated-software-for-bigger-gains
By kelly price
The world of Forex Trading software is one about which big claims are made but most of the forex robots and automated forex trading programs you see are junk lets find the ones that really make money...
Lets Start With a Fact
Most forex trading software sold online doesn't work.
This covers the vast amount of forex robots and automated forex trading systems. They never come with real track records, just back tested ones, showing what they could have done. If I did that knowing the closing prices, I would be a billionaire but hey, we don't have that advantage in real time and that's the challenge of forex trading.
Ignore any forex trading system which comes with a back tested simulated track record. You don't get given an easy way to a regular income, for the price of a good night out.
Real Track Records
If you want good forex trading software you can find it and many systems do come with real track records. There not cheap, but in most instances but they will pay for themselves many times over.
Just make sure you agree with the logic and understand it will have losing periods and you need to judge it over the long term.
A Free Forex Robot for Big Gains
There is a great one which is free, simple to understand and has made millions.
Its called the 4 Week Rule and its from trading legend Richard Donchian. We have written about this robot in other articles, simply look them up. It really is one of the best, its very simple, takes 15 minutes a day to operate and has been used by savvy traders for over 25 years and its piled up millions.
Build Your Own
It many sound daunting - but its not.
You can build one in a few weeks. We think that a long term trend following system
Canadian Dollar Rises for Ninth Straight Day on Growth Outlook
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<a href="http://www.businessweek.com/news/2010-03-10/canada-dollar-trades-at-almost-two-month-high-as-oil-nears-82.html" style="font-size:1.2em">Canadian Dollar Rises for Ninth Straight Day on Growth Outlook</a>
<br> <span style="color:#888888;">BusinessWeek</span> - <span style="white-space:nowrap">10 hours ago </span>
<div style="width:80%;">By Allison Bennett and Chris Fournier March 10 (Bloomberg) -- The Canadian dollar rose for a ninth day against its US counterpart, the longest streak in five and a half years, as investors bet the ...</div>
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Canadian Dollar Declines Against Yen
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<a href="http://www.rttnews.com/ArticleView.aspx?Id=1235627&SMap=1" style="font-size:1.2em">Canadian Dollar Declines Against Yen</a>
<br> <span style="color:#888888;">RTT News</span> - <span style="white-space:nowrap">16 hours ago </span>
<div style="width:80%;">(RTTNews) - The Canadian dollar edged lower against the Japanese yen on Wednesday's early trading, mainly due to across the board rallying of the latter. The loonie-yen pair declined to 87.46 ...</div>
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Neutral on the Yen, but turning Bullish on the Aussie $
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<a href="http://www.forexhound.com/article/Fundamentals/Daily_Reports/Neutral_on_the_Yen_but_turning_Bullish_on_the_Aussie/190110" style="font-size:1.2em">Neutral on the Yen, but turning Bullish on the Aussie $</a>
<br> <span style="color:#888888;">Forex Hound</span> - <span style="white-space:nowrap">Mar 9, 2010 </span>
<div style="width:80%;">CURRENCIES: 03/09/10 Higher closes yesterday for the Canadian and Aussie Dollar along with the Japanese Yen, Euro Fx and Swiss Franc while lower for the British Pound and dollar index. The euro ...</div>
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Don't Forget the Canadian Dollar
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<a href="http://www.fxstreet.com/technical/market-view/the-chartist-analysis/2010-03-09.html" style="font-size:1.2em">Don't Forget the Canadian Dollar</a>
<br> <span style="color:#888888;">FXstreet.com The Forex Market</span> - <span style="white-space:nowrap">Mar 9, 2010 </span>
<div style="width:80%;">by Daniel Bruno Get top forecasts for any FX pair, metals, stocks and bonds. Whatever you trade, FXboss has the information you need to make your trading profitable. The Canadian Dollar has a ...</div>
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| EXCHANGE RATE
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<a href="http://www.dailynews.lk/2010/03/11/ExchangeRate.asp" style="font-size:1.2em">| EXCHANGE RATE</a>
<br> <span style="color:#888888;">Ceylon Daily News</span> - <span style="white-space:nowrap">Mar 8, 2010 </span>
<div style="width:80%;">Exchange Rates on 10.03.2010 The average rates of the following currencies quoted by commercial banks in Colombo for Telegraphic Transfers (TT) at 9.30 am are as follows: Currency Buying Rate ...</div>
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Forex: USD/CAD hovering right above 6-week low at 1.0260
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<a href="http://www.fxstreet.com/news/forex-news/article.aspx?StoryId=8f499987-f6b0-4c6a-babd-e975ccb2fd61" style="font-size:1.2em">Forex: USD/CAD hovering right above 6-week low at 1.0260</a>
<br> <span style="color:#888888;">FXstreet.com The Forex Market</span> - <span style="white-space:nowrap">Mar 8, 2010 </span>
<div style="width:80%;">FXstreet.com (Barcelona) - Dollar decline from Feb 25 high at 1.0680 has lost steam, and the pair has remained consolidating during the day so far, trapped between 6-week low at 1.0260 and 1.0290 ...</div>
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Canadian Dollar Advances Against Most Majors
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<a href="http://www.rttnews.com/ArticleView.aspx?Id=1234872&SMap=1" style="font-size:1.2em">Canadian Dollar Advances Against Most Majors</a>
<br> <span style="color:#888888;">RTT News</span> - <span style="white-space:nowrap">Mar 8, 2010 </span>
<div style="width:80%;">(RTTNews) - The Canadian dollar traded higher against most of its major counterparts during New York afternoon trading on Tuesday. At 12:40 pm ET, the loonie climbed to a new multi-year high of 1 ...</div>
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Canadian Dollar Soars To 2-week High Against Yen
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<a href="http://www.rttnews.com/ArticleView.aspx?Id=1232312&SMap=1" style="font-size:1.2em">Canadian Dollar Soars To 2-week High Against Yen</a>
<br> <span style="color:#888888;">RTT News</span> - <span style="white-space:nowrap">Mar 8, 2010 </span>
<div style="width:80%;">(RTTNews) - The Canadian dollar climbed to a 2-week high of 88.33 against the Japanese yen in early Asian deals on Monday, mainly due to across the board weakening of the latter and this may be ...</div>
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Canadian Dollar Eyes Parity with the Dollar as Labor Data Approaches
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<a href="http://www.dailyfx.com/forex/fundamental/forecast/weekly/cad/2010-03-06-0142-Canadian_Dollar_Eyes_Parity_with.html" style="font-size:1.2em">Canadian Dollar Eyes Parity with the Dollar as Labor Data Approaches</a>
<br> <span style="color:#888888;">Daily FX</span> - <span style="white-space:nowrap">Mar 6, 2010 </span>
<div style="width:80%;">The Canadian dollar was extraordinary strength across the board this past week with the help of a few well placed indicators. The release of the fourth quarter GDP figures and the Bank of Canada's ...</div>
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Forex: Loonie follows broad gain, poor PMI limits
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<a href="http://www.fxstreet.com/news/forex-news/article.aspx?StoryId=8eb8877c-fe0d-43ae-b3fa-9602bb999880" style="font-size:1.2em">Forex: Loonie follows broad gain, poor PMI limits</a>
<br> <span style="color:#888888;">FXstreet.com The Forex Market</span> - <span style="white-space:nowrap">Mar 5, 2010 </span>
<div style="width:80%;">FXstreet.com (London) - As market sentiment moves towards a mood of positivity one would expect the whole fleet of riskier asset classes to take gains. However Canadian Dollar, or the 'Loonie' in ...</div>
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is ideal, based around support and resistance, trading breakouts, with a few momentum indicators to confirm the trades.
A Startling Fact
Today, the buzz words in forex trading software, refer to complex methodologies, such as - Chaos theory, artificial intelligence, neural networks etc and there complexity makes traders feel safe - but they don't help you win.
Think about it.
50 years ago 95% of traders lost and the ratio is still the same today, despite all the advances in software and theories in the period.
The obvious conclusion from this is - simple systems work best! The reason for this is - they are more robust in the brutal ever changing world of forex and a complex one has to many elements to break.
So get a simple system, you can understand, have confidence in and have the discipline to execute the trading signals, with discipline and you can get on the road to trading success, in just 30 minutes a day. Article Source: http://www.upublish.info About the Author:
kelly price
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