Forex Software - Which to Select?

Forex Software - Which to Select?

Forex trading is becoming insanely popular so I'm glad you're hopping on the train right now... at least I'm hoping you're getting into it now, since you're reading this. If you're just curious hopefully this article will get you pumped to get into trading. Enough small talk let's get into the good stuff.

The types of Forex software I'm looking into is basically the basics. Strange sentence. Anyway we've got strategy builders, trading platforms and autopilot trading systems. Lots o' typing ahead of me so let's get into it... I'll try and make it as fun as possible I promise.

First to bat is Forex strategy building software. Quite the mouthful but the basic concept, as you may have guessed, is to build a strategy based on previous time periods. This might be useful to some folks who know the market well and want to test some stuff out. Nowadays it's pretty obsolete software though... who wants to test previous data when you can test with real-time data? Oh what are you talking about Josh? Keep reading.

Next up we have trading platforms. Seems like all the names of the software types have self-explanatory names, very clever. Basically it provides broker services to customers @ Forex. MetaTrade 4 for example has a fancy diagram on their website that explains the structure... looks complicated; luckily we don't have to worry about that (high five!).

The final one I'm going to talk about is autopilot trading systems, my person favorite. As I've mentioned before I'm lazy, very lazy to be 100% honest with you. These fancy little algorithms and applications of magic typically run of trading platforms like MetaTrader 4 and do everything for us. We spend maybe 10 minutes a day near the PC, leave it on all night and day and it works its magic. No experience or knowledge required. Less time reading more time making profits, that's what I like to hear. Thank God for mathematicians and expert traders/advisors looking to make an extra buck.

With these autopilot trading systems they have a "demo account", well any decent system does, and you can test the market in real-time to see if you can actually profit using their system. It's magical to use and watch man, seriously. And I know little to nothing about the Forex market. Why bother learn something when you can buy something to do it for you? Legal? Check! Safe? Check! Beer in hand? Check! Rock out.

Forex Trading - Scalping Your Way to Fast Money

Forex Trading - Scalping Your Way to Fast Money

There are a number of ways to make fast money trading Forex. It is the most liquid and available market known to man. I also know that scalping is one of the fastest and time tested means of Forex trading around. What is so nice about scalping is how many opportunities a trader gets in a day to be able to pick up pip after pip. Let's first back up and first talk about what exactly scalping is.

Scalping involves trading on a minuscule level and deals on a very limited period of time. These trades are based on a high probability with very tight stop losses. The old adage with scalping is only partially true. "Ït takes a million trades to make a million dollars."If that were really the case then scalping would be a fool's game since the cost of broker's fees would kill a Forex trader. The real truth is that a scalper can do very well and in fact get wealthy off of scalping for substantial enough trades but not staying in the trade too long. Exactly how to do this well comes with experience and it is best to paper trade first until you become familiar with how to do it.

There are different forms of trading on the Forex market when it comes to scalping and they are:

1. Time-sensitive trades
2. Trend continuation trades
3. Counter Trend trades

In conclusion, I recommend that all Forex traders use technical analysis tools (especially the MACD and RSI) when scalping as it acts as a great confirming tool in the Forex arsenal.

For years now we have been using our successful strategy to place trades day in and day out. We have mastered a system that scalps the market whenever there is any price movement, and its 100% programmed and ready to begin trading for you. It’s true…. The IvyBot is one of the most revolutionary automatic robots to hit the market.