- Instant Rate Availability – The Forex software for currency trading must be able to provide instant access to valuable rate information. Due to its high level of volatility, Forex news changes fast. If it takes minutes to get a quote, everything could have already changed by the time it is received. This isn't the case; once this rate information is received, it is possible to trade at that price. Only real-time quotes allow that kind of instantaneous exchange.
- A High Level of Security – Like any other financial transaction that you perform over the Internet, security of your data is the main concern; this fact can be even more critical with your Forex software since the amount of money involved in your transactions can be very high. Successful Forex traders not only want to implement their trades, but they want to do it with the highest security. The majority of Forex software systems use at least one layer of 64-bit SSL encryption in addition to extensive procedures for data backup and recovery methods.
- Anytime Access – Commodity trading has become a 24-hour a day, 365 days a year activity. Forex trading software is available around the clock, providing updated quotes and allowing traders to initiate trades at any time during the week.
Forex Software Platforms
This is the classic discussion with any kind of software solution and Forex software isn't any different. Forex currency trading for beginners on this type of software is the same no matter which method is used. The decision to provide service as a client-side, or downloaded, software versus web-based software is individual to each company but each will face the same main points.
- Client-based Forex – This software solution means that the actual online futures trading software is located on your computer and access to the markets requires only an Internet connection, not an account on the Forex software creator's website. The advantages of this approach are:
- You have more control over your data. Commodities trading with this method not only places the software on your computer, but all of your records as well. In other words, your history of futures trades will be kept on your computer and not in the manufacturer's database.
- Access to the markets does not depend on using a portal with the software provider. You can still access the futures markets even if the Forex software manufacturer's website is down.
- You have more control over your data. Commodities trading with this method not only places the software on your computer, but all of your records as well. In other words, your history of futures trades will be kept on your computer and not in the manufacturer's database.
- Web-based Forex – This approach means that all of the operations are performed on the creator's website and that website needs to be accessed for all operations. The beginner investing with this system will find advantages such as:
- Everything you need is located on the servers of the software creator. You don't have to do backups or worry if you downloaded the latest version of the software.
- If you have access to the Internet you can use the software, no matter where you are. With this software application, you do not have to be at your own computer for trading Forex.
- Everything you need is located on the servers of the software creator. You don't have to do backups or worry if you downloaded the latest version of the software.
Today's Standard
Most software companies use web-based systems for their Forex software. Freedom to access their account for trading commodities from anywhere in the world, controlled backups of data and transactions, and world-class security for personal information make this the most predominantly used method.
Conclusion
Forex software has opened the markets to everyone. Offering research materials, current news, and secure trading and investing, Forex software is an excellent improvement in currency trading.
Market Direction: When the indexes start producing identifiable patterns, those same patterns will be as effective in individual stocks. One of the strongest patterns is a Jay-hook pattern. It is easily analyzed when utilizing candlestick signals. Price trends usually move with reoccurring characteristics. A Jay-hook pattern is the product of a very strong bullish trend. The significant aspect for identifying the possibility of a Jay-hook pattern is the term "very strong" bullish trend. A moderate trend will usually involve profit-taking along the way. A strong trend or price move usually moves without any profit taking. At some point in the uptrend, investors will take profits. The candlestick signals identify where the profit-taking begins and where it ends.
This is the same scenario as what we have seen in the Dow for the past three months; a very strong uptrend with no great profit taking pullbacks. This past week experienced strong selling in the Dow. Was this a full-scale reversal or a profit-taking pullback? That is always the question that is invoked when the sellers start showing up. The advantage a candlestick signals is the revealing of when the profit-taking is over. Last week the Dow experienced a bullish Harami, indicating the selling had stopped. The Doji at the T- line created the possibility of a short-term bounce during a downtrend. However, candlestick analysis involves understanding what will confirm a signal.
1 comment:
Nice post. I've tried forex for about 14 months with mostly losses trades. So I looking for a forex software that works. Thanks God I found forex killer software last month.
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