What I am about to tell you is one of the most important things you may read in a long time. If you’ve been looking for the best FOREX software that will provide you the best returns on your investment, there is some vital information that you must know if you are to continue your search…
The first question you most likely have about FOREX software is how can it possibly help you achieve your goal of successfully trading on the currency markets. The answer is quite simple… it doesn’t actually predict the results of the market, it simply recognizes trends that may trigger the market to behave a certain way. Because these trends have historically been correct, they usually give the trader a unique tip of the odds in favor of a profitable trade. As you might imagine, you don’t have to be correct all the time when predicting trades – you simply have to be correct more than half the time.
Unfortunately, many software solutions forget this point and instead try to go for the “big win” instead of the small wins that make a person rich. Knowing this, you should realize that there are basically two different types of software on the market, and only you can decide which one is best for your situation.
The first is simply designed to send you trading signals. They tell you, in real time, what the market is about to do, and you can then make the decision to trade with that signal, go against it, or completely ignore it and not trade at all. The big problem is that it requires you to be constantly monitoring your account and ready to make the trade when the signal comes in.
The second one is called an “Expert Adviser”, and consists of a program that performs the trades for you. If you’re comfortable with a computer deciding when you trade and when you don’t, this should be the option for you.