HALAMAN SELANJUTNYA:
Forex Trading Machine Vs. Forex Killer - Which of The Two Fits You?
What kind of trader are you? In principle, there are two major groups of traders in the forex market. The first group are the long term traders, or position traders. These traders take a very few positions per year and can wait for the right opportunity for weeks and even months. However, once they entered a position, they might stick to it for a very long time. These long term positions have large stops and consequently large profit targets (hundreds of pips). The second group are the day traders. Some of them are intra day traders who spend long hours near the screens looking for trading opportunities. A sub-group of day traders are the "momentum" or "swing" traders who usually scan the graphs a few minutes every day, place their trades a few times per week and typically take their profits within a day or two.
It's all about the time you can dedicate to trading and your ability to patiently watch the screen. In this regard, most newbie traders have a full time job that they cannot afford to lose, at least until they become profitable traders.
In view of the above, Forex Trading Machine and Forex Killer are different in some aspects that might be critical to you. The trading strategies revealed in Forex Trading Machine are simple, yet effective. Although the author, Avi Frister, suggests couple of trading strategies, the main strategy revealed is for swing traders, i.e., requires a few minutes per day for scanning the graphs and placing the trades and designed to catch large moves of approximately 100 pips each. That's good, especially if you do not have the time to monitor the screens all day long. Forex Killer is a bit different in this regard. The Forex Killer software generates trading signals depending on the time frame YOU choose. It means that the software can provide you with entry signals in a 5 minutes chart, 1 hour chart, daily chart, etc. Forex Killer is more flexible in terms of the trading style options it offers - If you do not have the time to trade during the day, just set-up the software accordingly so that you receive only a few entry signals per week.
On the other hand, when trading with Forex Killer one might get the feeling that the software "thinks" for him, as the signals are generated by a sophisticated mathematical algorithm. Some inexperienced traders might find this attractive, but the more experienced traders know that no software can replace sharp senses and the ability to "read" the market. Forex Trading Machine teaches you to read the graphs before entering a position in order to identify potential dangers. I can attest that double checking and independent thinking saved me quite a few losing trades and surly made me a better trader.
To summarize, Fore Killer and Forex Trading Machine are different products that fit different kinds of traders. Some traders can use them both. Decide what kind of trader you are and choose accordingly. But whatever your choice is, please remember - Trading is NOT a "get-rich-quick" business and no trading system or software can change that. Learning to trade is a PROCESS and products like Forex Killer and Forex Trading Machine are assisting tools and not substitutes for sound knowledge and independent thinking.