Day 12 – Forex Trading Tools


When it comes to getting started with forex trading, the tools that you should get will certainly make learning and executing your trading efforts a great deal easier. Just like you would calculator before you bought a house, there are special tools that you can use when trading forex as well.

Below you will find a list and descriptions of some of the popular tools that are used to help you make your trading experience easier. They are listed in terms of what they do as well. Let’s look at these right now!

Automatic Execution tool

The Advanz Auto4X platform helps to take your Trade Station strategy signals and also automates their execution to Gain Capital’s trading platform. Advanz Auto4X is designed so that it can be powerful, flexible and accurate so as to meet the needs of various complex institutional trading departments.

It is also designed to be simple and efficient for an individual trader. Advanz Auto4X also helps to support the execution of a variety of different strategies working on any number of time frames to all of the Forex crosses that are made available for trading.

Analytics tools

Elliott Wave This is considered by most experienced traders to be the purest form for getting technical analysis because Elliott Wave analysis measures investor psychology. The Wave reveals that mass psychological swings during a natural sequence, which creates specific and measurable patterns.

K.B. Advisory Ltd. This actually offers you daily technical analysis and trading recommendations that are based on sophisticated trading system strategies and was developed by Keith Black. It boasts a successful 3 year track record of performance. (Technical Research Limited)

TRL is a Specialist Foreign Exchange Forecasting Service that can help you with forecasting and trading analysis in the global foreign exchange markets. Technical Research Limited is rated the No. 1 FX Advisory Service by customers in 39 different countries around the world.

This program is very powerful, and offers you real-time analysis for market professionals who are looking for:

1. An edge with decision making support

2. Top performing market models

3. To spend less $$ on real-time data and exchange feeds

4. Standard, and simple graphical trading support

5. Visual representation of risk to the traders managing it.

(International Financing Review)

IFR Forex Watch gives you real-time technical analysis of the FX spot and options markets. It gives you analysts in London, New York, Boston, San Francisco, Singapore and Sydney. Few can actually match the depth and variety that this program offers. IFR specializes in sifting through the vast array of information that clutters up current market participants, and boiling it down into its bare essentials.

Global Market Research

Global Market Research provides price forecasting and is a proven performance-based Trade Strategies for the FX market trader. You should check out the daily newsletter, FX Technicals and intraday updates and analysis, through the Web or directly to your e-mail.

This is a resource for a well-connected market professional that has been trading and writing about markets for nearly 20 years. You can capitalize off of his experience and his analysis, especially technical analysis, to get a real trader’s take on current market action.

4CAST gives you key market information and analysis to market participants worldwide, including central banks. It also has an on-line service that gives you fundamental, political, strategic and technical analysis 24 hours a day.

ForexTRM is the only forex charting service that pairs 18 world and regional currencies and tracks them every day.

This means ForexTRM lets you to trade any one of the 18 currencies against any of the other 17. It uses its unique trademarked Sigma Bands and Hurst Cycle Analysis to correctly identify:

  • Overbought/sold forex markets
  • Where trading risk is at its lowest point in time
  • Which currency pairs are ready to trade

There is also an ALERTS Newsletter that you can get free of charge.

The Market Vu Show is the number one program for traders and active investors to use today. It lets you interact on your pc in real time as your host Market Vu and the famous Vu Team bring you live market action from the Global Forex Markets. It lets you watch professional traders and share ideas. You can also:

  • Get Real Time Detailed Charts from the Vu Team
  • Get LIVE Trade Setups, Entries, Stops and Profit

Targets

  • Get Free Access for FX Account Holders

Get After Hours Education and Seminars

Tutorials

The Forex Edge is an instructional CD that tries to give Forex traders the unique tools that may just give them an advantage to the rest of the field. It will show you how to identify unique formations and how to structure your own indicators and generate your own signals.

Here are a few more tools that you should check around for:

  • Rate History Tool
  • Converter
  • EuroConverter
  • Conversion List
  • Risk Probability Calculator
  • Investment Risks (VaR)
  • Forex Pivot Point Calculator
  • Pip USD value Calculator

 

 
Next Steps:
1. Signup for a broker – the best broker we’ve found is Easy Forex. You can deposit money in a variety of different ways, including credit card payment, and you can start for as little as $100

fap-turbo

You can Read our full review or Visit the Website by Clicking Here >>

 

2. Select an automated trading software – one that will sync with your broker account. From our research, the most accurate and most aggressively back-tested software is FAP Turbo.

fap-turbo

You can Read our full review or Visit the Website by Clicking Here >>


 

Previous Lessons:

Day 1
Day 2
Day 3
Day 4
Day 5
Day 6
Day 7
Day 8
Day 9
Day 10
Day 11
 
 

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