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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
Dollar Up on Risk Aversion; Fed Funds Rate on Tap
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<a href="http://www.forexyard.com/en/market-analysis/usd/dollar_up_on_risk_aversion;_fed_funds_rate_on_tap-2010-03-16" style="font-size:1.2em">Dollar Up on Risk Aversion; Fed Funds Rate on Tap</a>
<br> <span style="color:#888888;">Forexyard</span> - <span style="white-space:nowrap">7 hours ago </span>
<div style="width:80%;">The US Dollar surged versus the majority of its currency counterparts during yesterday's trading. Against the EUR, the greenback reached towards 1.3640 up from yesterday opening price of 1.3775. A ...</div>
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Canadian Dollar Halts 11-Day Rally, British Pound Pares Friday?s Advance
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<a href="http://www.dailyfx.com/forex/technical/article/winners_and_losers/2010-03-15-1525-Canadian_Dollar_Halts_11_Day_Rally_.html" style="font-size:1.2em">Canadian Dollar Halts 11-Day Rally, British Pound Pares Friday?s Advance</a>
<br> <span style="color:#888888;">Daily FX</span> - <span style="white-space:nowrap">21 hours ago </span>
<div style="width:80%;">The greenback strengthened against all of the majors on Monday, while the Canadian dollar remains the best performing currency against the reserve currency as investors raise expectations for a ...</div>
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Canadian Employment Rates Support an Already CAD Bullish Trend
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<a href="http://www.forexyard.com/blog/en/2010/03/15/canadian-unemployment-rates-support-an-already-cad-bullish-trend/" style="font-size:1.2em">Canadian Employment Rates Support an Already CAD Bullish Trend</a>
<br> <span style="color:#888888;">Forexyard</span> - <span style="white-space:nowrap">Mar 15, 2010 </span>
<div style="width:80%;">Canada published their employment figures for February last Friday. Canada added 20K jobs last month, above 17.5K, forecasted. The data published was below January figure which was 43K. The ...</div>
<a href="http://www.nasdaq.com/newscontent/20100315/forex-usdcad-rises-to-10203-fresh-daily-high.aspx?storyid=20100315_015a4d3c-0b57-403b-87bb-6f0b925ead8a_fxstreet.com">Forex: USD/CAD rises to 1.0203, fresh daily high</a> - <span style="color:#888888">NASDAQ</span><br>
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The S&P500 Drifted Higher to its Prior High?. USD/CAD on Major Support
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<a href="http://www.dodjit.com/Articles/1084.aspx" style="font-size:1.2em">The S&P500 Drifted Higher to its Prior High?. USD/CAD on Major Support</a>
<br> <span style="color:#888888;">dodjit.com</span> - <span style="white-space:nowrap">Mar 15, 2010 </span>
<div style="width:80%;">By dodjit.com Riskier assets soared higher during the week as equities and petroleum surged forward and the dollar retraced. The Euro, the Aussie dollar, the loon and the pound all presented solid ...</div>
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Canadian Dollar Advances Against Euro
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<a href="http://www.rttnews.com/ArticleView.aspx?Id=1239698&SMap=1" style="font-size:1.2em">Canadian Dollar Advances Against Euro</a>
<br> <span style="color:#888888;">RTT News</span> - <span style="white-space:nowrap">Mar 15, 2010 </span>
<div style="width:80%;">(RTTNews) - The Canadian dollar strengthened against the euro in early Asian deals on Monday. At 9:55 pm ET, the loonie reached a high of 1.3979 per euro, compared to last week's close of 1.4025 ...</div>
<a href="http://www.etftrends.com/2010/03/why-canadian-dollar-etf-is-tear.html">Why the Canadian Dollar ETF Is on a Tear</a> - <span style="color:#888888">ETF Trends</span><br>
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Canadian Dollar Soars To More Than 1-1/2-year High Against Greenback Amid Unemployment Report
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<a href="http://www.rttnews.com/ArticleView.aspx?Id=1238926&SMap=1" style="font-size:1.2em">Canadian Dollar Soars To More Than 1-1/2-year High Against Greenback Amid Unemployment Report</a>
<br> <span style="color:#888888;">RTT News</span> - <span style="white-space:nowrap">Mar 12, 2010 </span>
<div style="width:80%;">(RTTNews) - At 7:05 am ET Friday, the Canadian dollar soared to more than a 1-1/2-year high of 1.0164 against the US dollar, an 8-week high of 89.02 against the yen and a 3-day high of 0.9345 ...</div>
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CAD Trading More Stable than Counterparts
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<a href="http://www.forexyard.com/en/market-analysis/afternoon/cad_trading_more_stable_than_counterparts-2010-03-12" style="font-size:1.2em">CAD Trading More Stable than Counterparts</a>
<br> <span style="color:#888888;">Forexyard</span> - <span style="white-space:nowrap">Mar 12, 2010 </span>
<div style="width:80%;">Heading into the start of the American market hours, the Canadian Dollar appears to be turning downward against most currency pairs, except the USD and JPY. A boost to riskier assets has the EUR ...</div>
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Businesses Benefit As Canadian Dollar Gains Strength Against The US Dollar
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<a href="http://www.9and10news.com/Category/Story/?id=212646&cID=1" style="font-size:1.2em">Businesses Benefit As Canadian Dollar Gains Strength Against The US Dollar</a>
<br> <span style="color:#888888;">9&10 News</span> - <span style="white-space:nowrap">Mar 11, 2010 </span>
<div style="width:80%;">As the strength of the Canadian dollar gains on the US dollar, businesses in Sault Ste. Marie, Michigan are noticing a positive impact. When the Canadian dollar is higher, more Canadians tend to ...</div>
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New contract high for the Canadian Dollar
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<a href="http://www.forexhound.com/article/Fundamentals/Daily_Reports/New_contract_high_for_the_Canadian_Dollar/190797" style="font-size:1.2em">New contract high for the Canadian Dollar</a>
<br> <span style="color:#888888;">Forex Hound</span> - <span style="white-space:nowrap">Mar 11, 2010 </span>
<div style="width:80%;">CURRENCIES: 03/11/10 Higher closes yesterday for the Aussie Dollar, Euro Fx and Swiss Franc while lower for the Canadian Dollar, Japanese Yen, British Pound and dollar index. The euro and franc ...</div>
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Canadian Dollar Forecast to Remain Volatile Against USD
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<a href="http://www.dailyfx.com/forex/technical/ssi/usd-cad/2010-03-11-1554-Canadian_Dollar_Forecast_to_Remain.html" style="font-size:1.2em">Canadian Dollar Forecast to Remain Volatile Against USD</a>
<br> <span style="color:#888888;">Daily FX</span> - <span style="white-space:nowrap">Mar 11, 2010 </span>
<div style="width:80%;">USDCAD ? Dramatic declines in the US Dollar/Canadian Dollar pair has led our Speculative Sentiment Index to its biggest extremes since October, 2007?underlining the level of extreme sentiment on ...</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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