ForexGen | Three The Most Popular Forex Softwares Compared

Forex, or FX, stands for the foreign exchange market. This is a 24-hour market in which currencies are traded in cash, which is known as a spot market. There is no central, standard trading center, such as, a stock exchange. Instead, trade is conducted "over-the-counter" via an international network of dealers. Until recently, the forex market was confined to larger traders: major, international commercial and investment banks; international corporations; international money brokers; currency traders. When the United States went off the gold standard in 1971, investors immediately recognized new opportunities for making profits. Every year, more companies start up that cater to smaller institutions and investors so they may participate in spot forex trading. A prime factor to take into account before participating in the spot market is your temperament. A risk-aversive customer is not suitable for this marketplace. You should consider not only your experience in the investment world, but your objectives, and your capacity to absorb financial losses. Certainly, you should never invest any amount of money you cannot afford to lose.
has already become the most popular way to make an extra income. Thousands of people enter the market with a dream of making easy money.

Unfortunetely Fx market is very tricky and one needs to be very knowledgeable to have success with it. Only 10% of people who initally enter the market succeed at it.
Nowadays it is much easier to trade than it used to be in the past. There are many companies who specialize in helping people to make money on Forex.
There are different kinds of software that automize trading as well. And this what this article is going to be about. The reason why every trader should use some kind of software is that it eliminates human error factor and it can make thousands of calculation every minute.
Many traders treat trading similar to gambling and they allow their emotions to influance their decision.
I am going to review three of the most popular pieces of software out there. I have used all of them. The order they appear is from the most popular to those a little bit less popular.
The most popular at the time of writting is Forex Autopilot robot by Marcus Leary. It is robotic
expert advisor that trades currencies using Meta Trader platform. Users have reported winning ratio of over 80%. I have been using this software recently and I must admit that it is very useful specially for newbies. It takes time to learn the curve but it is well worth it.

Some customers report installation problems. Here is the tip. You must have the latest Meta Trader 4 platform in order to install it. Otherwise your PC will not detect expert advisor files (.ea4)
Second most popular is Mark Copeland's Forex Autopilot System. It has been around much longer than the first one and it is often updated. The winning ratio is around 70% and many trader choose because it much easier to use than Marcus Leary's software. If you are a complete newbie, this is the one for you.

Both of above advisor will need a fast internet conections, minimum of 1MGb/sec. Your P|C must be on, all the time when robots are trading.

The last expert advisor I am going to review here is a little bit different. It is Andreas Kirchberger's Forex Killer. The reason why it is different is that it doesn't execute trades.
It uses data feed from your broker to create buy/sell signals. The wiining ratio is 70/30. Many more experienced traders prefer it to two above because it gives them more control over their trades.
All of above have 8 week money back guarantee so, you can check out all of them with no risk and see which one suits you.
Please, remember to use your demo account firts. Once you feel comfortable with the software, it is time to move to live account.

ForexGen provides a unique online trading experience based on our intelligent online Forex trading package, the ForexGen Trading Station, including the best online trading system.
ForexGen serves both private and institutional clients. We have a strong commitment to maintain a long term relationship with our clients.

ForexGen Automated Forex Trading Systems

Follow Trading Rules
The proper execution of trades is a very important aspect of becoming a profitable currency trader and one of the most difficult to learn. The problem comes with the initial analysis of the market. When you are studying examples of past trades, it is much easier to recognize direction, entries, and exits that if you were live trading. Recognizing opportunities in the "now" is much more difficult to do. To develop this important skill, one must pay very close attention to specific price patterns and the chart positions of technical indicators. Following trading rules and a trading system is no small matter. It requires the trader to obey rule after rule, even when their initial response to markets is not to trade, end a trade or get into a trade, based on emotion? Trading should only occur when the right setups are present and when confidence is high.
Accept Losses

Since no trading system or method is 100% accurate, losses will happen sooner or later. Develop the ability to admit to your losses. Sometimes traders will remove their stops and let their losses run in the hope the trade will come back. They do this because they are unwilling to admit that their forecast of market direction or their timing of entry into the forex was incorrect. Losses can occur primarily for two reasons. The first reason is when the trader fails to follow established tested rules and guidelines of a trading system or proven method. The second reason is when the trading system or method fails to encompass unexpected changes in the market conditions. In either case, by anticipating the reasons for most of the losses you're going to take, you can put precautions into place beforehand to help reduce losses in the future.

Always Use Stops
Stops are orders in the market placed a distance from your entry price, in the event market prices turn and move opposite from the anticipated direction. The idea behind a stop is to prevent a loss from "running" too far and thereby consuming excessive capital in one single trade. Too often traders are so convinced of where they believe market prices are headed, they lose their sense of reality and begin to trade on hope. They choose not to trade with a stop, or remove their original stop, simply hoping that market direction will eventually turn (again) their way and their loss will turn into a win. However, by the time they finally realize that such will not be the case, and that their hope was an illusion, they have risked far more that they wanted to at the outset of their trade, and the result is a devastating, excessive loss, eventually wiping out their entire trading account.

Keep a Trading Log
Keeping a log of trades is like taking a snapshot in time. You'll find that after making your first analysis, market conditions develop so rapidly that it can be difficult to remember exactly what you saw in the beginning that caused you to enter the market. By recording just a few notes about each trade you make and the technical picture you see, you will sharpen your skills in recognizing strong trade setups

ForexGen White Labels
Forex White Label partnership allows the trader a quick access to the online foreign currency exchange market.

ForexGen provides two types of trading White Label partnerships, a limited and a full solution. ForexGen different types of forex White Label partners are able to access ForexGen's trading platform entirely branded under each partner's unique company image and name. We provide a customizable online trading platform for the different types of the two White Label solutions.