A Review of the Forex Killer Currency Trading Course
By: Brian Garvin
Submitted: 2008-07-04 10:05:09 | Word Count: 631
Foreign Exchange (Forex) Trading is one of the largest investment vehicles in the world; over the course of each day, nearly 2 trillion dollars, an amount of money rivaling the entire United States Government annual budget – is traded on foreign currency exchanges each day. Since the 1990s, forex trading has been opened up to private investors, as well as institutional banks, and has become one of the greatest money making opportunities in the world.
In a nutshell, forex trading means converting one currency into another. If, for example, the Euro were trading at $1.20 to the dollar, it would take $1.20 to buy one Euro. Later, the Euro might be $1.40 to the dollar – if you bought Euros at $1.20 and sold them at $1.40, your investment would have appreciated at $1.40/$1.20 or by 16.67 .
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Each tenth of a percentage point of change is called a pip , and good investors learn to read trends in the market, and look for things that signal upcoming changes in the market. Lots of banks invest a lot of money and expertise and data storage into analysts who can read those signals and leverage changes that are as small as a thousandth of a penny – when you re moving two billion dollars on a move, a thousandth of a penny shift translates into a significant chunk of change.
Which is where Forex Killer comes in. Andreas Kirchberger worked for Duetschebank for a decade before forex got deregulated; he s learned more about reading signals that most people will ever have time to learn, and he s made more mistakes (with monetary amounts that dwarf the budgets of most cities) than you ll ever have the time or guts to make. In the end, everything he learned boiled down to this:
He who has the most accurate information at the earliest time gets to make the best decisions, and that information is more than just the current exchange rate, or the historical change rate – it s also a factor of news stories, mass psychology, investor risk dynamics (all investors are prone to riding out the risks for too long, and that shapes trends in currency pairs), and a bunch of mathematical factors.
With the help of several mathematicians and even a couple of top notch psychologists, he s built all those factors into ForEx Killer. ForEx killer comes with a basic tutorial on what Forex trading is. It also learns as you hoot it into various data sources, and can be tailored to work on any pair of currencies, or multiple mosaics of currency pairs.
It s designed to spot trends before they crest so you can buy in early, or sell before things crash, and while it s not infallible, it does put many of the same informational tools at your fingertips that the professionals use. Furthermore, because of Andreas experience with the markets, ForEx Killer can look at trends, match them to patterns, and give you estimated guesses about what else is going on behind the scenes .
Now, ForEx Killer, like any investment tool, entails some risk. Which is why the program includes a dummy account; you re not trading real money, you re trading made up money, and ForEx Killer will let you do this as long as you like until you convince yourself that the tool works, and that you understand what s going on.
ForEx Killer is only an informational tool; it does not replace the need for a broker, or the need to have a well considered strategy. Decide early on if you want to be a day trader or a buy and hold strategist. Day trading strategies can make you more money quickly; buy and hold strategies involve several orders of magnitude less work, and ForEx Killer will provide you with adequate information to pursue either strategy.
