Archive for December, 2009

A new foreign exchange robot:

Forex Mutant is a signals software and an advanced manual trading system. The trading strategy behind Fit is winning at 90.3% and the authors have set a goal to not only provide the users with results but to also teach them trading. The system is built with a notion that any beginner can trade better than a trading robot if they have a step-by-step system to follow.

Really worth checking out. It seems captivating.

Why FAP Turbo is so popular? First of all let’s look at what it is. This EA is a scalper and can make several trades a day. It makes the trades automatically. So it is very attractive to beginners – who doesn’t want a robot to trade for them? And secondly it’s a scalper, so it is attractive to all traders who favor this strategy.

Scalping is a risky and thus controvercial strategy though. There are many fans and many foes of it. Traders who look for long term profits and can calmly wait for weeks for a good trade don’t like scalping. And the day traders tend to like it, because of immediate profits.

Hence, FAP Turbo is popular but there are many diverse opinions around it. It all depends on a trader.

Forex Knight Rider is a new FX scalper robot. It’s fully automated and will make several trades a day at about 6 pips in profit each (96.67% winning trades). It runs exclusively on EUR/USD 15 minute chart…

You don’t see programs like that every day.

Here is an unusual program:

Before writing a review of FXOpen I’ve researched a lot of Forex brokerage firms that use MetaTrader4 platform and they were one of the most talked about brokerage firms with a very decent feedback. Furthermore, FXOpen is used by traders who trade with Expert Advisors and realizing that most readers of this site are interested in auto trading, it was a nice fit. The only problems that people seem to be having are with scalping – the servers sometime seem to be having delaying and an occasional re-quoting is happening. So if you’re looking for a brokerage firm for scalping, FXOpen may not be ideal. Other than that most traders seem to be having a good experience, so I went ahead and took a closer look at this brokerage firm…

You should take a look, I think.

Check this out:

4X Pip Snager is a non-automated FX trading system for those who want to get their hands dirty and get results more rapidly. The package actually includes two systems – scalping and intraday swing trading system. Each system is a set of rules and indicators which you use to non-automatedly open positions with provided stop loss and take profit.

The scalper system functions on a 1 minute chart where essentially you get a signal to open a trade and wait for the pip gain to close it (or to cut the loss)…”

It might be worth it.

Writing Forex reviews takes a lot of skill and patience. The reviews are like books, and anyone who ever wrote a book, knows how tedious of a work it is. Numerous revisions, hours spend researching, editing, proofreading, editing again. All that to make the end result of a pleasant read to the reader.

It takes knowledge in Forex to write a review too. The purpose is to educate the reader, give him new information, something that he doesn’t already know. To educate someone, you have to be knowledgeable and skillful.

That’s why not everyone can write about Forex. Even if you’re the best trader, writing may not be your thing. And that’s OK, to each his own. Usually you will notice that those who write, are those who aren’t the most proficient in the trade. Sure, they know the subject, the terminology, how it works, but they may not be as skillful. Yet they seek to learn, and thus they write.

There’s not a better way to learn a skill than to write. Theory at least. It is said, that practice makes perfect. But theory makes practice even possible. And thus, reading and then writing helps better learn Forex theory.

And there’s a lot theory to be learned. From fundamentals, to technical analysis, from chart reading to Fibonacci lines and Elliot waves. Everything matters and is necessary to make best trading decisions.

And coming back to Forex review, to review a system, a theory, a method, one has to understand it. One has not only to be able to use it, but also see its flaws. And that makes a review enjoyable and useful to the reader.