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Forex Killer - Highly Profitable, Not For Part-Timers
Forex Killer requires some time to set up, and you must be able to watch the markets pretty much full time to wring the most profits out of it. However, if you can do that it appears to be the most profitable system software available, and even professional forex traders use it. It was written by a former forex trader for Deutsche Bank, Andreas Kirchberger, and one can tell that he is the real deal. Much of the forex information on the Internet is junk or just a rehash of old ideas lifted off the Internet by someone with no real knowledge, just a desire to make a fast dollar selling recycled and often wrong information. Andreas uses Forex Killer to trade his own account and does very well, thank you. Once you buy the software, future upgrades are free. They didn't even charge for a massive upgrade late in 2007 when they added neural "learning" capability to this expert, rules-based system. The biggest negative is that the software turns out trading signals that you have to implement, watch and exit trades when the software says to do so. Because this is a trend-catching system, it gets you into positions that can pay off big or lose big if you don't get out on the Forex Killer stop-loss signal. That means you have to sit in front of your computer and do this for a living. If you have a day job or other commitments that prevents you from using Forex Killer safely or effectively, Forex Auto Pilot is the better choice. If you can trade full-time but want a more conservative approach than Forex Killer, get Range Trader (links below). Another negative is the start-up time. It takes a couple of days to install the software, read the manual, figure out how you to download data, and dry-run the system. (Take the time to learn how to download data, as explained in the manual. Putting the data in by hand is painfully slow, and many buyers would simply stop using the software.) After that, you should spend at least a week paper trading to get the feel of forex trading and to be sure you understand the Forex Killer process. You can paper trade on the Forex Killer website or with your broker (most forex brokers offer this service). I have found, and many professional forex traders agree, that the Forex Killer default stop loss points are too tight. I understand and even appreciate that Andreas is trying to keep new traders out of trouble, but too-tight stops lower the profitability of the software. Keep track of what happens after you are stopped out of a trade, and if you find you often are stopped out with small losses on trades that later turned very profitable, you should loosen the stops to fit your style and the markets you are trading. Otherwise, be sure to follow the Forex Killer signals and do not second-guess them. The biggest advantage of using any automated software for entry and exit points is that it is completely unbiased. Automated signals take out uncertainty and “gut feelings” that so often turn out to be wrong. The market's job is to fool most of the people most of the time, but Forex Killer and programs like it have no emotions to play on. You may have a bias, say, that the euro is going down. You see a morning headline that confirms your view, and you decide to go short the euro. You run Forex Killer and it gives you a long euto signal. What do you do? Perhaps nothing. I am not saying you must trade against your fundamental outlook. I am simply saying you should take the trade only when the automated signal confirms your fundamental outlook. Remember, trading forex is like batting in baseball, but there is no umpire calling balls and strikes. You can stand at home plate as long as you want to, letting pitch after pitch go by, until you get the perfect pitch that you can wallop out of the park. That’s when you should make your move. Forex Killer gives you a probability calculator, and you can choose to take a position only when it has a 75% or better chance of being profitable—or set the bar at 80%—or 85%—you get the idea. The higher you set the bar, the fewer trades you will make, but the better they should do. Or you may be willing to take a 65% probability trade when it is in the direction of your fundamental outlook, but insist on an 80% probability if the trade goes counter to your outlook. Forex Killer owners used to have to do their money management separately. Money management is crucial to success with any trading system or advisory software, or even if you are trading on gut instinct. You must balance the risk and reward of each trade, and then look at each trade as a building block in your portfolio. After you have balanced the overall risk and reward in your portfolio, you must look at the draw-down probabilities to avoiding wiping out your account. In a recent upgrade, Forex Killer added trend analysis and money management functions. Of course, you still need to understand how to apply the money management module to suit your circumstances. Forex Killer comes with some introductory books as bonuses, but they are no better than the free information you can find on the Internet or from your broker. As you get interested in forex you may want to read some more advanced trading books, and I'll list some in a future intel. If you have any questions, Forex Killer's customer service gets high marks from the professionals, with most email support questions answered in 12 hours or less. Like most forex software advisers, Forex Killer carries an eight week (56 days) money-back guarantee. If you have the time to set it up and actually use it, this is the system most full-time forex traders should try first. You have nothing to lose but a couple of days devoted to installing and learning the system. Here are two tips to save money: When you use the link below to buy Forex Killer, enter the coupon code drta50off for 50% off the normal $178 price. Then, just before you buy it, pretend to close the window. You usually will get a pop-up offering you another $10 off, bringing your cost down to only $79. ;-) |
Forex Auto Pilot
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Forex Killer Trading Advisory Software
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