Tuesday, 3 May 2011

Forex Tracer Review

Forex trading software can vary in many ways, it can allow you to do all the work, or like Forex Tracer, it can do all the work for you. Forex Tracer seemingly is a good way to trade in the Forex market without having to learn the entire system as it has been developed based on algorithms and processes developed by professionals in both the financial world and mathematics.
Basically, Forex Tracer does everything for you, so long as you leave your computer on 24 hours a day and have a live internet connection.
What Forex Tracer offers is a way to enter the Forex trading world with no experience needed.
It has a proven profit system which is implemented in the Forex Tracer software application in addition to no hassles in trading as well as no human error as it completely automated.
The Forex Tracer software can work with any MT4 broker and offers a no-risk demo so that new users can try out the automated forex trading that Forex Tracer can provide.
In addition to all of the options available with the Forex Tracer package, it also offers a 60 day refund policy to its customers.
Now in regards to how much money one may need in order to start using Forex Tracer, this all depends on who your broker will be. Many brokers can allow new Forex traders to get in at around $500 and maybe less.
It is a good idea to find a Forex broker that best suits your needs before starting with the Forex Tracer software. And remember, many brokers offer free Forex trading demos. Be sure to take advantage of the demos that are offered in order to learn how Forex trading actually works.
In addition to the automated Forex Tracer software, new customers are able to receive additional software applications such as the FX Cherry Picker software which indicates the buy and sell signals in order to help guide Forex traders along if they are interested in taking part in the Forex trading activities.
Overall, Forex trading does not have to be as difficult as many deem it to be. All it may take is to simply leave the computer running and letting the automated Forex Tracer software do the rest.
We recommend that you try Forex Tracer out for about 50 days, just before the refund policy expires.
See how much you have made and if it is worth keeping to you. If not, then, nothing lost. However, if you see the results many have seen, you may just decide to keep it for a lot longer.
You can try Forex Tracer out simply by visiting Forex Tracer here and see what everyone has been talking about in the Forex trading world now. Remember to always do your research on the products and services provided by Forex Tracer as well as the brokers that you may be working with in order to ensure that you make the best decision based on your own Forex trading needs.
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Choosing the Best FOREX Trading Software

In an industry where a majority of Forex traders cannot survive, it is important to understand what advantages those who DO survive utilize in order to perform and profit in the Forex market. A lot of this success can be attributed for many to the usage of FOREX trading software and applications.
In order to survive, financially speaking, a new trader should always remember to only use the money that they can afford to lose. Period.
But, before trading in the Forex market, many brokers offer free Forex trading software demos and more so that the newer forex traders can better acquaint themselves with the Forex market and see if trading in Forex is the thing for them to do.
It is usually much better to simply utilize the free Forex demo accounts that many brokers provide access to before risking any real money in Forex trading until you finally get the hang of it and can earn a profit for a few months using the free Forex trading software or demo without the use of your own funds.
As for Forex trading software, there are different types of software at different prices. Some are automated, some are completely manual.
If sitting in front of the computer all day with a more “hands-on” approach to Forex trading is for you, then there is software which can accommodate that.
There are also automated Forex trading software applications available to those who would like to pre-program all of their actions beforehand.
There are many decent Forex trading software programs for under a couple hundred dollars.
Be sure to look into the reputation of the Forex trading software provider before making ANY purchases as there are several manufacturers that offer lower quality Forex trading software products versus that of their higher-quality competitors’ Forex trading software…at the same price.
The best way to do this is to simply search the name of the software or simply visit some of the sponsors here at this site and do your research from there.
Overall, like any business, there will be less than par products being offered and it is a good idea to check out all of your options before committing to anything.
Some more reputable brokers include GFT Forex and GCI. And some good ideas for automated Forex trading software includes Dealbook FX2, COESfx, and FX3K in addition to the many other options offered in the listings here at our site.
Remember, do plenty of research before jumping into anything and learn how the Forex trading system works before making any costly mistakes. Use those demos that are offered.
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How to Find the Best Forex Broker

Unfortunately, there are many brokers in all financial areas that are not as good as they should be. Some can even be outright scammers. So how do you find the best Forex broker and not end up with a lousy one who just overcharges in fees and does a bad job? Here are some tips on how to find the best Forex broker.
First and foremost, do all your due diligence. Whatever they give you…read it.
There is always a little fine print in everything these days it seems and when it comes to market trading, fees and conditions can get outrageous.
Be sure that the Forex broker that you decide to go with provides you access to their client support whether by email, phone or both. There is nothing more frustrating than not being able get to someone or even get a response at all by bed Forex brokers.
You can really find out what the broker is all about by simply trying them out using their free Forex broker trading accounts.
There you will become more active and get to see how they operate and how the Forex broker customer support holds up.
The Forex broker should be taking good care of you as a demo user as you may very well turn into a paying client using real money. If they don’t, then it may be better to move to another more reputable Forex broker.
One major thing to consider when choosing the right Forex broker is the spread that they are currently offering.
All spreads are not created equally to the Forex broker.
If a broker’s spread is over six pips then it will take you a lot longer to earn a profit than most other Forex brokers.
Try to find a Forex broker with a much lower spread, or at least average compared to the rest. This is found by simply comparing Forex brokers and what each of their spreads currently are at the time you are doing your research.
The reason some Forex brokers will have a very high spread is because this is how the Forex broker actually gets paid as the spread is simply the difference between the purchase price and the selling price.
Another thing to look at regarding Forex brokers is their leverage offered. How much leverage do they provide you in the market? 100:1?
Some Forex brokers may use very high leverage options as a way to lure new traders into their business only to cause major falls in the new users account if the new user is not trading properly or is just making some bad decisions in the Forex market trading.
Always take advantage of the demo account the Forex broker provides. If they don’t then move on.
You have to learn how to trade before putting real money into a Forex broker account.
One more item to be discussed is the Forex broker trading software or platform.
What is the quality of the Forex broker’s trading platform?
In many cases, you can actually use such programs as Forex Tracer to do the trading for you through your broker so long as they are compatible. So be sure to look into this by visiting Forex Tracer here.
When looking into a Forex broker, be sure to read all the fine print, especially the font is a lighter color. The fine print in many cases may be explaining all the high cost fees that may be involved with that particular Forex broker which may not be charged by most of the others.
Be sure to take advantage of the Forex broker’s demo account before using real funds and most of all, do your own research on who the Forex broker you are speaking with actually is. Look at what others are saying about them and how long they have been around. Due diligence, just like in any other business, is an essential step in any decision making process involving your own finances.
There are many great Forex brokers out there and we recommend checking them all out through visiting the sponsoring Forex brokers listed here on the site navigation bars as well as through word of mouth.
With proper amounts of research and learning, Forex trading can prove to be quite an amazingly profitable venture once you find the best way to achieve your Forex trading goals that best fit your needs and more.
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How to Choose a Forex Broker

With so many different choices out there, how does a Forex "newbie" pick a broker? Chances are most new traders have no idea on where to start - and that's okay!  We're here to help!  We have put together a simple three step process to help you find a broker that YOU think will best suit YOUR needs.  You might be thinking now, "Three steps? That's it?"  Yesssiirrrr!
In the first step, you will go through some of the main questions you need ask yourself when reviewing different brokers.  Then you will take a look at different brokers and their available features. We have put together a comparison guide by taking some of the most frequently asked questions across the internet, and surveyed some of the most frequently asked about brokers out there, so that you don't have to. 
With this guide, you can narrow your choices down and take the final step of talking with different brokers and demo trading on different platforms. Simple, right? Let's begin...

Step 1: Do your research

Before comparing brokers, do you know what to look for? No? Well, here are a few of the main questions you should ask yourself:
  1. Is this broker registered with any regulating authorities? Check to see if your broker of choice is registered with the National Futures Association (NFA) or Commodity Futures Trading Commission (CFTC) if they're based in the US. If the broker is based in the United Kingdom, check with the Financial Service Authority (FSA). If the broker isn't registered with any of these or any other recognized regulating firm, then you may want to think twice before signing up with them.
  2. Dealing Desk or Non-Dealing Desk broker? Does the broker offer fixed or non-fixed spreads? How wide are the spreads? These questions are more significant to those traders who like to take quick profits on a few pips. Large and/or variable spreads can cut into the profits of this type of trading strategy.
  3. How much or how little leverage will a broker give you?  We highly recommend you review "Leverage the Killer"before deciding on how much leverage would be suitable for your trading style. The phrase, "Less is More," can save every newbie
  4. Of course, you’re not going to start trading with real money right away, right? Well, when you do having a winning strategy and you are ready to trade live; knowing how much risk capital you have to start with makes a big difference. If you have $2000 or less to start with then you probably want to start trading "micro" lots. Not every broker has this feature.
  5. Does this broker credit or debit daily rollover interest? Some brokers either do both, deduct interest, or neither.  This information is important to traders who hold positions overnight.
  6. Does this broker over premium services such as charting, news feeds, and market commentary? How important are premium services to my trading?

Step 2: Compare brokers

Let's not beat around the bush, now you need go to Broker Comparison Guide.

Step 3: Open demo accounts and ask questions. 

Pick at least two brokers that fits most of your criteria and open up demo accounts. Trade in different market environments. Learn all the different features of each trading platform. If you have questions, don't be afraid to ask. Many brokers have excellent customer service support and would be happy to answer your questions.
Most demo trading platforms are very similar to their live counterparts, but not exactly the same. There may be a difference in speed of execution, slippage, and platform reliability (most of the time live accounts are more reliable than demo accounts). When you do have your strategy down and you are ready to move to a live account, start off small, test the waters, and see if this particular broker will suit your trading needs.
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Why Choose Forex Trading Over Stocks?

Did you know that the Foreign Exchange Market (FOREX) is the largest financial market in the entire world? With total DAILY transactions of about $1.4 trillion + /day (over fourteen times all American stock markets combined!) there has GOT to be some advantages to the FOREX market, right? Indeed. There are many advantages that FOREX has over the stock market which we will discuss here.
First, the FOREX is open 24 hours a day 5 days a week. It opens in Sydney Australia and closes finally on Friday afternoon in New York.
A major plus in regards to FOREX is the fact that there are no broker commissions involved when trading in FOREX. Also, the trades are shorter term trades where items are bought and sold within minutes and not normally held like corporate stocks.
Another advantage to FOREX is the liquidity of the market due to the volume of trading that occurs worldwide.
In addition to liquidity, it does not require a lot of money to actually take part in FOREX trading as it take less than $300 dollars to get started with FOREX trading as opposed to stocks.
In all actuality, FOREX is much more like a day trading type of activity versus that of the investment value of the stock market.
Even though this may SEEM a bit more risky, it is also important to realize that the FOREX does not move as abruptly as the stock exchange as the average daily movement in FOREX trading is around 1% change versus that of ten times the amount or more!
Remember, also that the FOREX trading market reflects actual economies and fundamentals as opposed to how a certain business is performing inside a certain economy inside a certain marketplace.
So research on future FOREX trades have a lot to do with what is going on around the different parts of the world and many fundamental items such as that of the economic status of a country usually do not change as drastically as quarterly earnings reports may shift a stock’s momentum instantly.
When leverages are concerned, many FOREX picks can be leveraged 100:1 ($500 = $50,000 in the market) whereas a stock may possibly get 2:1 or less.
Overall, it seems that both the stick market and FOREX trading are two very different types of trading and it mostly depends on the individual investor and how they prefer to do business when considering what type of trading would be best for you.
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