As you will be looking to purchase analysis software to help you in evaluating the currency trading market, you will need to be certain that what you are looking for contains a variety of charting tools that will give you a choice in deciding what is specifically best for you.

The Forex trading software you finish up with should be able to help you make the right currency trading choices. You will expect it to act as your advisor so that you can be trading successfully in the shortest possible time. The most common types of software are:

• Signal generator.
• Charting platform.
• Indicator.

Experienced currency traders have at least one or two different types of trading software in their arsenal as it helps them in duplicating winning results, as well as allowing them to trade mechanically.

Forex trading signal generator is the most popular of the software currently available, as it will help you directly trade the signals, or use them in complementing your own trading plan. It is always advisable to purchase your Forex trading software from somewhere that can provide you with regular, and ongoing downloads and updates, because the Forex market is quite volatile, and in order to keep you on top of your game you will need to update your software regularly.

Easy, Step by Step Wizard is a software that is imperative if you are a newcomer to Forex currency trading software. If you have the wizard at your disposal you will always be able to find the right analysis to tell you what to do with the data you have obtained.

Signal quality is important if you have a software package containing built-in signal alerts. Signal quality will let you use the pre-set system in the software to alert you to coming opportunities as well as those contained in your own system.

Customisable spreadsheets are valuable in helping you use the data  more beneficially so you can manipulate it to better suit your own needs. This is particularly important if your Forex trading strategy involves your data inputs to show alerts. By using a customisable spreadsheet you will be able to view the data and then put it to whatever use you feel will give you the most benefit.

If you don’t have the time to choose one of these types of Forex trading software, you can start trading and earning faster with Automated Forex Trading Software. This software, known as a robot, contains encoded scripts with automatic strategies built in. When you place the scripts into a MetaTrader platform your robot will work for you 24 hours a day.

Teresa writes about forex trading online and writes for Forex Trading Finder where you can compare foreign exchange brokers to get the best forex reviews.

If you do choose to stay in a trade for a long time though, you want to reduce your risk as you go.  The way to do this is to use trailing stops which follow your trade as price moves in the direction of your trade.

You can “trail” a stop manually or automatically.  To trail a stop manually, you simply move your stop order yourself as your trade advances.  For example, if you hit your original target, you could move your stop to halfway and then wait.  That way you’ve protected half your profits in case of a reversal.  At that point you’re in a “risk-free trade” with a guaranteed profit.  Once your trade moves along, you could then move the stop up further toward your target profit.  If success continues, you would move the stop past your original target and so on until you finally decide to exit or get stopped out.

Some people don’t like doing this manually and want the stop to move along with the trade a certain distance behind price.  FX trading brokerage allows most platforms to do this for you.  You can also set MetaTrader 4 up to do this automatically.

To create a MetaTrader 4 trailing stop, keep these guidelines in mind.  The stop should not begin trailing until you are at a point where you are going to profit or breakeven if a reversal occurs.  The stop must trail in the direction of your trade and the buffer space it creates should be constant.

In MetaTrader 4, right click on the order you want to set the trailing stop for in your Terminal window and navigate to the Trailing Stop submenu.  You can either use a preset pip value from the list or you enter a custom number.

One drawback of MetaTrader 4’s system is that it doesn’t work properly with the extended quotes (extra decimal points) offered as a function of some FX trading brokerage.  You also can’t set a stop lower than 15 pips, which is a problem for scalpers.  To get around this, you can search online and download a trailing stop expert advisor which you can then load into MetaTrader and use as needed.

Don’t forget that you can still do this manually if you want.  It does keep you involved, though it can be inconvenient if you are unable to be near your computer or mobile device.  What you can do is look for support and resistance levels and set alerts when price reaches those levels.  That’s often a good time to move your stop forward.  Plus, while you can’t set an automated trailing stop to vary in buffer space in a logical manner, you can do it yourself as a discretionary trader and be perfectly rational about it.  Whatever method you choose to set your trailing stops, do a few demo tests to make sure that it’s the best method for you, since whatever you choose will have some kind of measurable effect on your profits and losses.

Look, I’ll be honest with you.  There are a lot of scams outright scams in the world of Forex.  There’s even more hype and twisting of the truth by clever marketers to get you to purchase their product.

Proof is made up, garbled up, backdated, and Photoshopped all the time… especially with the automated Forex robots.

However, the owners of Leo Trader Pro actually give you access to their real money account so you can see how it’s performing in real time.  It’s not a demo account – it’s trading real money.  That type of transparency is unheard of and something I’ve never seen before.

Of course, when you’re so open and honest, it’s like standing in front of a crowd completely naked.  They’ll see you for what you are and they’ll see every flaw.  So let’s talk about the good and bad of Leo Trader Pro’s Neural Network Forex Robot.

Thumbs Up

Their system is averaging more than 82% a month (almost doubling) on a live, real money account (not some theoretical or demo account) and get this – the drawdown is less than 1%

Thumbs Down

While I’ll give them credit for continuing to improve the program, they are working out some of the bugs but at least they’re issuing regular updates to address the problems.

Bottom Line

While I’m the first to admit I still don’t understand how their neural network based trading system makes its decisions, with real proof and real profits, The Leo Trader Pro system  is a definite winner in my book and one I’d recommend purchasing.

Here’s where it really made sense to me:

Suppose you want to buy a car…

Before you buy it, surely want to know if the engine works… that the car drives as advertised… and that it’s comfortable, etc. – right?

Now…

…how would you know all this?

Very simple (and those who have bought a car do know!): You would ask the car salesman for the keys to the car so that you can verify every detail related to its performance!

BUT…

What if the car salesman tells you “sorry, I can’t provide you with the car keys, you will have to take my word for it that the car performs as advertised”.

Yeah… right!

You see the point?

Well, same thing goes for automated FX trading:

The “car keys” is the “account investor password” and…

…in the same way that you would never, ever, buy a car without the salesman first giving you the keys so you can start it to check its performance… to hear and test the engine…

…you should never, EVER buy an FX product if the vendor states that an account statement (i.e. performance proof) is a real-money, live account BUT will not give you the investor password to the account so you can LOG-IN and verify:

1. Each and every trade taken (entry, exit, ticket #)

2. That the account is a real-money, live account

3. That the advertised performance data is accurate

With Leo Trader Pro, you get to take that test drive before you purchase the product!

A Quick Word Of Caution

Keep in mind that even if you have the best expert advisor, you can still lose money with FOREX.  Also, your expert advisor is only one factor.  The connection you’re on and broker can also dramatically affect the results you get with Forex.

Real Money Account Results

It’s often challenging to find a real money account without doing it myself – most expert advisors don’t ever make you money in a real money account and most people don’t like their private financial information like that up on the Internet for everyone to see.

Fortunately, in this case it’s easy to go straight to the source.  Just visit this page and you can check out not just a screenshot of a real money account, but real time results so you can see if the software is performing as expected.

Leo Trader Pro Real Money Account - Trading Results

Unbiased Customer Reviews and Real Honest Feedback

If you’ve been looking for real reviews from real honest to goodness customers of the product, then this is the section for you.  If you’re sick of reading fake reviews from people who’ve never traded a dollar of real money on the Forex, then read these real reviews from real people I’ve gathered up for you (these require a lot more digging to find than the ones you find on the first page of Google where all the savvy marketers have their sites positioned).

Is Leo Trader Pro A Scam?

It’s a fair question given that so many automated Forex robots and expert advisors are just quick money grabs by savvy marketers.  However, the guys behind the Leo Trade Pro system have gone out of their way to establish themselves as a real, legitimate company.  Their software is currently working and while I wouldn’t expect it to keep generating returns at it’s current rate (500% profit over 7 months), even if it slows down dramatically, it’s still a good way to be investing your money.  Bottom Line: Not A Scam.

Specifications

Software / Instant Digital Download

Price

$149

Official Website

www.leotraderpro.com

Developed by 9 year industry veteran, Dean Saunders, the 10MFWB system was developed after years of frustration in the forex markets.

The biggest difference between the 10 Minute Forex Wealth Builder is that it isn’t based on indicators.  Rather, the system is focused on price action.  The benefit to using price action is that there is no lag when using price action, but there can be significant lag when using indicators.

The program also covers trader psychology, risk management, and forex basics.

While 10 minutes a day may seem like a ridiculous claim, we’ve found that it’s generally pretty accurate as we rarely spent more than 15 minutes setting up our trades.

Rating:

Price: $77.00

Return Policy: 60 Day unconditional money back guarantee

Features:

	Only requires 10 minutes a day
	Simple to learn – a 10 year old could do it
	Based on price action, not indicators which can lag
	Proven system

>>Learn More About 10 Minute Forex Wealth Builder<<

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Website URL:

www.10-minute-forex-wealth-builder.com

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>>Learn More About 10 Minute Forex Wealth Builder<<

The Forex Funnel spent four years as a private forex trading system before it became available to the public.  In that time, it generated a $462,000 profit in the forex market.

One thing to note about this system is that it is only designed to work on the usd/jpy pair on the 1 hour timeframe.  While that may seem like a big limitation, the benefit is that it is completely optimized to work on that pair and does so with impressive results.

Rating:

Price: $137.00

Return Policy: 60 Day unconditional money back guarantee

Features:

	Automatically Create and & Trade Forex Markets
	Can open multiple trades at once
	Advanced Algorithms & stop loss
	No human intervention required

Bonuses:

	Goldminer – precision custom indicator software
	Up to $500 bonus in your MT4 account

>>Learn More About Forex Funnel<<

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Website URL:

www.forexfunnel.com

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>>Learn More About Forex Funnel<<

Developed by industry specialists, the Forex Tracer system is designed and extensively tested to be an automated way to trade Forex 24 hours a day, 7 days a week, 365 days a year.

During the testing phase, the produce generated a $335,000 profit and the modeling quality was at 90% (that’s exceptional).

The biggest complaint that we have about the product is that it is a little on the slow side to make trades, which can mean it doesn’t get in on as many trades as we’d like to see.

Rating:

Price: $97.00

Return Policy: 60 Day unconditional money back guarantee

Features:

	Creates & trades Forex signals on autopilot
	No human intervention required
	No experience with forex necessary
	Can be tested without any risk or capital

Bonuses:

	FX Cherry Picker – As the name implies, helps you cherry pick the best trends
	Up to $500 bonus in your MT4 account

>>Learn More About Forex Tracer<<

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Website URL:

www.forextracer.com

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>>Learn More About Forex Tracer<<

Developed by a mathematics professions, psychologist, and a Forex trading expert, the Forex Killer platform has been designed to help its users create a full time income using Forex.

A big plus about this system is that it helps eliminate the “human error” factor by getting rid of the guesswork typically accompanied by trading Forex.

The program doesn’t rely on daily updates from so called “experts” but rather is able to generate its own forex trading signals that have proven to be extremely reliable in the past.

Also, with this program, instead of spending hours in front of a panel of computer screens, this program allows you to work a few minutes a day instead of 12 hours.

Rating:

Price: $89.00

Return Policy: 60 Day unconditional money back guarantee

Features:

	Start with as little as $500 or learn the ropes using a demo account
	Works with all trading platforms
	Reliable and consistent results
	Free updates for life – never have out of date software

Bonuses:

	Exclusive Forex eBook – Learn the basics of Forex
	Non-Farm-Payroll Strategy
	Money Manager & Risk Calculator
	Additional winning tactics from successful forex-killer users
	Up to a $500 bonus when you open a trading brokerage account

>>Learn More About Forex Killer<<

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Website URL:

www.forex-killer.com

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>>Learn More About Forex Killer<<

Developed by 20 year professional trading veteran, Jason Alan Jankovsky, the Forex Brotherhood has been engineered to be a complete collection of the best secrets of Forex. One thing that sets this produce apart from many of the others is that isn’t just an ebook with some charts explaining how Forex works.  You get access to live daily training and webinars so you can follow along with what the experts are doing on a daily basis and you can copy exactly what they’re doing - basically it’s a look over their shoulder program. It’s designed for elite traders, however, they invite people new to Forex to join since you get taught the proper strategies the first time. One of the cool products you also get access to is their automated Forex trading software.  This software is built to interpret data and trade on your behalf without you needing to constantly sit in front of your computer screen and babysit it.  Also, it trades faster than most of the software on the market (and in Forex faster is better). Rating: Price: $249.97 First Month – $149.97/month afterwards Return Policy: 60 Day unconditional money back guarantee Features: Two daily live broadcasts where you can copy exactly what professional traders are doing Two daily Forex Reports Custom automated Expert Advisor – automated Forex trading software Private members only forums and chat rooms >>Learn More About Forex Brotherhood<<

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Website URL:

www.forexbrotherhood.com

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>>Learn More About Forex Brotherhood<<

Developed by professional currency trader, Marcus Leary, the Forex Autopilot system (F.A.P.S) is an automated system designed to do your Forex trading for you. The produce claims that no Forex knowledge is necessary since their system interprets all of the information on your behalf and can act on that information without your intervention, but common sense would tell you you’d want to have some idea about what the software is doing.  So we do recommend that you do spend some time familiarizing yourself with the marketplace. The best feature of this system is the fact that it is automated.  It doesn’t require you to sit in front of a panel of computer monitors all day trying to figure out which way the market is going.  Also, the software doesn’t get tired, and if you’ve ever spent 10, 12, even 16 hours in front of a computer trading you know that you’re very prone to make mistakes even if you’re a professional when you’ve been at it that long. Rating: Price: $99.50 Return Policy: 60 Day unconditional money back guarantee Features: 100% automated trading system System can trade 24 hours a day, 7 days a week, 365 days a year No website needed to start earning money online Uses a proven business model >>Learn More About Forex Autopilot<<

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Website URL:

www.forexautopilot.com

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>>Learn More About Forex Autopilot<<

The ForexYard tradinng platform is designed to allow you to start trading when minutes when coupled with their instant credit card deposit feature. An account can be setup with their firm with a deposit as small as $100 so there isn’t a large upfront investment required unless you want to. They are setup to deal with novices and veterans alike. For people new to Forex, ForexYard offers Super Mini accounts and for the veterans they offer pro accounts. Features: Competitive fixed spreads Live quotes Negative balance protection Wide choice of currency pairs >>Learn More About Forex Yard<<

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Website URL:

www.forexyard.com

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>>Learn More About Forex Yard<<