Traders are desperately trying to find out what is the best forex trading software on the market? People read magazines, forums, go to chat rooms for an honest forex software review. Well, here is a forex software review for you: You shouldn't have to pay money for a forex trading platform. Free trading software like Metatrader or the charting software that comes with most forex brokers should be more than sufficient.
All of these companies that promise they have the best forex trading software are just giving you rehashed lagging indicators. It seems like everyday we get the “latest and greatest" indicator. The indicator that does all the work for you telling you where to buy and sell. If it was really that easy, then why is it that 95% of forex traders end up losing money?
Part of it has to do with the fact that a lagging indicator cannot forecast a market. The other reason is that most traders don't understand what these indicators represent. For example, when two lines cross each other it tells the trader to buy or sell. But the trader doesn't have the slightest clue what's going on in the price. For all intends and purposes he/she doesn't even have to look at the price, all they have to is follow these indicators. It's tough enough trading the forex market. It makes it about 100 times harder when you don't even understand price movement.
So you can scour the internet for every forex software review site, but once you realize there is no such thing as the “best" forex trading software, you can try to understand price action. A perfect example of how unnecessary all these magical indicators are, is to look at the famous Jesse Livermore. Livermore was a world famous stock trader who traded on the market floor in the early 20th century. He became a millionaire just being able to trade the price action on the floor. Now, if somebody in the early 20th century can be successful trading without even a chart, much less all the “magic" indicators that are out there now, then why can't it be done now at the turn of the century?
Jim Buhs has been a successful forex trader after learning how to trade price action. Once he understood that all he needed to learn how to trade forex was on a plain chart with no indicators, his profits soared.
To see all of his Forex software reviews, make sure to visit LearnForexDirectory.com