Forex Software Review - Which Is The Best?


Many traders often wonder what is the best forex software around. To that question, I usually answer by saying "who cares"?  You can be like the other sheep and spend thousands of dollar on trading software like TradeStation or E-Signal. Why on earth would you waste that kind of money? 

I firmly believe that the trader is the one that is responsible to for making the pips, not the software.  Think of it like this.  What kind of trader would you be if all the technological bells and whistles that come with most forex trading platforms just went away?

This means no more trading robots, indicators, or other fancy software and equipment.  The only thing you would have are simple price charts. How would you do?

To some traders, it would be the like the worst thing that could ever happen to them.  To other traders, they probably wouldn't even blink an eye.

You see, when it comes to forex trading tutorials, most companies are only interested in wowing the consumer.  They'll tell you that their software comes with every imaginable toy you can think of.  It has flashy graphics, it will require a lot of disk space and memory, and...oh will cost you thousands of dollars.

I'll be the first one to admit it.  That when you see the commercials for this software on CNBC, you can't help but be impressed. There is enough stuff on these charting platforms that it would take you weeks to go through it all.

But let me ask you something.  What exactly are you learning?   Are you really learning about forex trading.     By putting all these bells and whistles on your charts, you are not able to understand all the nuances of trading.  All you are doing is blindly following these proprietary indicators.

If you have been able to have success with these kind of tools, then I wish you continued success. However, if you are like most people who have spent way too much money on these tools and still haven't had any success, then I suggest you get back to the basics and learn more about price action.  All is needed is a simple bar chart.           



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