Free Forex Software – What Is The Most Popular Free FX Software Today?

free forex softwareWhat is the best free software for Forex trading? What free Forex software can provide you with the best possible forecasts and analyzes to trade Forex successfully? Is there a forex automatic trading software that does not require programming skills to work with it? Read this post to find answers to these questions.

Forex trading platform is a trading software that will not only allow traders to analyze currency markets and trade forex and CFD online. Some trading platforms like Metatrader 4 (MT4), Metatrader 5 (MT5) and Trade Station  work with their own programming languages and allow traders to use and test automated strategies. Unlike them, most browser-based platforms (WebTrader) do not offer automated trading functionality or modern Forex indicators.

Forex Analysis Software 

The purpose of the analysis in Forex trading is to provide Forex traders with tools to predict market movements. Even the most basic trading platforms provide at least some tools to work with graphics – for example, to calculate the support and resistance levels.  Read more ›

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Day Trading Forex Strategy


daytrading forex strategyMany forex market traders begin their path to success with daytrading. There are many reasons for that, and the main thing is that the forex daytrading strategy is a very common and popular form of trading.

Why traders choose a short-term trading?

Beginners use a day trading strategy because they can see the result of trading at the end of a day, not a week or a month. Let’s say … they don’t have enough practical experience and knowledge at the beginning, so they can not yet predict the behavior of the market over a long period.

Day trading or involves the implementation of short-term contracts when a transaction may be performed within 5 minutes, a day, hour, and a trader can have just a small budget, but quickly react to the behavior of the market. Daytrading Forex strategy allows avoid big loss due to incorrect prediction.

How to trade

When choosing the day trading forex strategy, it is important to remember that the most important thing is not the trading method but a level of knowledge, expertise and experience. Well, try out different strategies  on a real trading account,  and with the help of a demo account, which allows you to not risk your own capital. Another useful way to learn more about day trading strategy is to take part in a number of educational seminars.

Types of strategies

Under the daytrading Forex strategy, we understand:

1. Trading at the very short time intervals (1 minute, 5 minutes). Forex Pros note that this is the most risky forms of trading and such traders often trade with small deposits. Analysts and brokers are advised not to meddle in this kind of trading especially if you are a beginner.

2. Trading on the hourly time frame. It is characterized with a high speed trading and not really suited for beginners.
3.Trading on the four-hour time frame. It makes it easy to predict and build curves using some daytrading indicators. This strategy makes it possible to get a decent profit.
Forex Pros do not look for the best forex day trading strategy, but they use their experience and knowledge to create their profitable strategies.

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False breakouts of the important levels in Forex trading

forex tradingFor many traders who use technical analysis in their Forex trading platforms a breakdown of an important level is a signal to enter the market. Unfortunately, very often such a breakdown is false, and after reaching a top point the price comes back by just trying the level. Such situations bring traders losses and disappointments of the trading system they are using.

To avoid false signals, it is necessary to understand what a false breakdown is, how it differs from a true breakdown and how it can be determined. False breakout is a temporary price movement, in which it breaks an important technical level, after which it begins to move in the opposite direction of this level. During a true breakthrough price will not be returned to a broken level and continues its movement. Read more ›

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Fundamental Analysis in Forex Trading

fundamental analysisUniversity of Michigan consumer confidence index.

Many Singapore Forex traders use fundamental analysis when trading Forex. Most of the Forex trading platforms provide their traders with an economic calendar where traders may see and follow the major economic news release.

University of Michigan consumer confidence index is a leading economic indicator in the Fundamental analysis of USA economy. It allows us to determine the level of consumer confidence in the economy at the moment, but also determine the prospects for economic developments in the future. In other words, the index measures how USA consumers want to spend the cash.

This leading indicator is calculated from the responses to the survey by telephone, which is conducted among consumers once in a month. The poll is held by the staff at Michigan State University USA. Read more ›

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Forex Trend Trading Strategy: Simple and Safe

forex tradingStatistics say that 90% of all traders are losing in Forex. In this article we will talk about the safest way of Forex trading using a trend following strategy.

Novice traders may often hear from more experienced Singapore Forex traders that trading with a trend is the best way to start trading in Forex. This advice has some sense and is proven by many years of trading experience. The main goal of a trend trader is to correctly identify the direction of a trend, as the price chart of the financial markets never consists of long straight lines. If you master the skill to distinguish trends and will learn to apply it in your everyday trading, you’ll never be at a loss.

What is a trend and how it appears.

The main driving force of the financial market that creates a powerful long-term trends is major participans of the market – a variety of investment and pension funds, public and private banks, big investors. They supply the market with huge volumes of funds. Therefore the smaller market participants, including individual traders are left to do anything else but to follow the directions of the market, being unable to influence the market with their small investments. Thus, the reasonable behavior of a trader in the Forex market is to follow the trend established by major players. Only in this case we have chances to have a profitable trading. Read more ›

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