I’m just learning about forex trading and am slowly going through the course “School” in this website in my free time. I have opened a couple of demo accounts and I put into practice what I learn in this course and through other online training videos. I have achieved some good trades, but mainly losses. I have also bought the Forex-killer software to try and help me along and hopefully learn something from it aswell. Unfortunately the signals it suggests are always contrary to what my signals indicate. Has anybody used this software and if so is it any good? Shoudl I trust the signals it gives me?
Any help would be greatly appreciated.
Thanks
Mike
I never had the “Forex Killer” I did get my hands on a few automated programs which did not work for me (thank God I never paid a single penny). From my experience and it was said many times before on this forum… automated trading programs usually do not work and there is no such thing as easy money. Great automated programs do exist but most likely they are not for sale and even those are used with discretion.
With anything, or any person giving you signals, ALWAYS test them in demo mode first before putting real money on the line. That’s what those demo accounts are for.
As to Forex Killer or any “decision-making” software, in 6 years I have never found anything like that that really worked … and think about it: if YOU discovered a way to plug in numbers to software and achieve consistently winning trades … would you start hawking the software for sale … or would you use it to quietly trade your way to immense wealth
Exactly. I have always followed this rule. It applies to infomercials, unknown products, seminars, business tools, etc. If you created the ‘perfect widget’, and you made tons of money with it, would you spend your precious time trying to sell it and make more money or would you be kicking back on a beach some where with that hot model?
Being from the eastern side of the pond, I had to google that!
For the geographically challenged, there is no ocean front property in Arizona. But there [I]is lake front [/I]property, and you can even have that right smack in the middle of the metro Phoenix area!
Yep … and they are planning to build one of the world’s largest water parks just south of Mesa (Phoenix suburb) … complete with jet skiing and scuba diving. Kind of like the ski resort they built in Kuwait
But importing a whole ocean … not yet within reach … except to those clever sellers of automated forex software
For the geographically challenged: Phoenix is in southern Arizona in the Sonoran desert, surrounded by cactus, where summer temperatures of 48 C are not uncommon…
Hey, it might work. Who knows. I believe the questions with that kind of trading style (automated) and software are as follows -
1 - Will it work?
2 - Do they guarantee me money back?
3 - Will they even honor the guarantee?
4 - What country does the trading system software designer or company reside in?
5 - Have I used GOOGLE and done my due diligence? Is anyone else crying foul or RIPOFF? Did I check trading forums, the BBB, etc?
6 - Again, if they made so much money, why would they need to hock software? If you were rich, would you want to spend your day playing a SALESMAN?
7 - Maybe the software/system HAD a good reputation but does it STILL work or has the market changed and rendered it useless?
8 - Does it fit your trading style?
9 - Are you going to learn from it? Will you know how to trade properly on your own…ever?
10 - Would you like to buy some of my used magical Forex underwear…now with Fibonacci Streak Marks included at no extra charge? I also have some Bollinger Band Boxers with yellowish Support and Resistance lines? All for the low, low price of whatever you cannot afford to lose.
