Which Currency Trading Software is the Best to Trade In? Manual Or Automated?
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Do you still remember where every trade and business had to be monitored in the newspapers? Those days were long gone with the explosion of ICT, bringing with it faster and more convenient ways to trade. Then came the next problem. Which currency trading software is the best to trade in?
Manual or Automated?
Sounds like you’re choosing types of cars ya. Well, it goes by the same principles. Choose manual software if you want to do your own monitoring and trading. Use automated software if you prefer to let the software to trade for you. You might wonder which one works the best.
Well, both of them work as well and the only difference is whether you want to do the trading yourself or not. Manual software works best with investors who are experienced and believe in themselves more to make the trade. Automated trading mode works well for those who are new to forex trading and those who are too busy to be staring into the computer screen whole day.
Performance Record
Another great way to find an effective trading software is by checking their track records. Before you actually pay for those software, you can read up on customers’ testimonies and of course comparison charts that you can read on the Net. If you’re vying for manual software, it would make little difference as you’re making the trades your own anyway.
For automated software however, you really need to read up before buying and realizing that your software actually incur more losses than earnings. Determine which software to choose by looking at how successful they have predicted and scour money over the years.
Support system (back-up)
Like all software, they eventually crash for one reason or another. Therefore, it is very important for you to choose a software that has a good back-up plan to prevent further losses. Support system would include efficient customer service which will be able to answer your problems right away. The best guarantee will be to choose a software that is reliable and proven over the years.
Ok, you should have an idea which software to trade in.
Now what’s the next step to achieve you online currency trading success?
Which Currency Trading Software is the Best to Trade In? Manual Or Automated?
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The USD has been quite the bull lately and we have not yet seen any reason technically for that to cease. With the situation in Greece very tense, the Euro has shown even further weakness. With this Euro weakness and USD strength we again were looking to the EUR/USD for some further clues of continuation down. In this video I highlight how we built a trade plan starting at today’s London Session around a 40′ish pip hourly price trap, break, and then retest. Once the break occurs it was time for our favorite friend Mr. Fibonacci to step in, and sure enough he coughed up several opportunities to snag a nice EUR/USD short entry to start the day. While it took all night to really follow through, it completed its drop today of 120 pips or so from the Fib in dramatic fashion with China raising it’s reserve requirements unexpectedly, causing a strong push to the 1.3550 area which also happened to be our daily M1 reversal pivot point, Profit take time! Lovely trade.
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