How Does Forex Killer Work?

The hardest part of learning to use Forex Killer is the technical aspect of downloading data from one of the trading platform data types that the software accepts. Forex killer software is a quick way to finding a signal.

Trying to enter the data manually is sure to frustrate you. Take time to read the manual on downloading data from your broker so that you don't have to deal with the tedious task of entering 20 pieces of data so you can generate the signals.

Learn how to do download immediately, otherwise you will be wasting time inputting the data manually. Identifying the important waves can confuse you, so just let the software do that for you.

The Forex Killer interface allows you to enter 10 closing prices on any time frame from 15 minutes to daily chart. It will calculate longer term peaks and troughs in the price action data. Next, tell the software which time frame you have used and the number of decimals in the price quote (eg 1.9670 for GBP/USD is 4 decimals). The program will also need to know what instrument you are trading.

Forex Killer is now ready to calculate the probability percentage of whether you should buy or sell. You will see one of 3 signals - BUY, SELL or FLAT (no trade). The software calculates both a "short term" and a "long term" signal. A time fram for short term is not clearly defined., but we will assume that intraday to 3 days is short term and long term could be beyond this.

Forex Killer is a good way to get an objective "third person perspective" for each trade. Consult the forex killer to see if the signals line up with your ideas.

Here are my reasons for recommending this software:
1. Easy to use
2. Quickly generates signals
3. Generates signals for mulitple pairs easily
4. Excellent addition to you own technical analysis and research
5. Inexpensive

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