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Forex Analysis Software Reviews and Comparisons
Relying on other products, services, or individuals for information as to where to invest your cash next is not always a good choice. True there are some great services out there as we highlighted in our Forex strategy review section, however, for some people analyzing the market and drawing their own conclusions is where the thrill lies. It is recommended that you only attempt to analyze the market and make trades based upon that analysis once you feel you are suitable educated and experienced in Forex trading. Once you have made the decision that you are ready then the choice of analysis software comes in to play. Carry on reading to find out how some of the best Forex analysis software is rated in our reviews.
#1 Forex Trading Software Review - Forex Tester
Our top rated Forex software is one that is equally suitable for both beginners and experienced traders, Forex Tester. Whether you want a software to practice your trading technique, to spot historical trends, or to develop and test out a new strategy then Forex Tester is the software for you. Best of all is that unlike many software it is available for a low one-off fee of just $150 USD and that includes a free monthly update. Should you require more regular updates to the data then a daily update service is available from $20 a month but this is a completely optional service. Forex Tester - Key Features Summary:
The really smart thing about Forex Tester is that it allows you to test and restest a strategy on real historical data until you get it just right. For example, let's say you have a strategy which you think will work - currently your best way of finding out is to run the strategy (either through a real or demo account) and after several months see what has happened to your capital. This means it could take years to develop a solid, reliable strategy. With Forex Tester you can find out in a matter of minutes as you input the strategy, check the results and then tweak and retest until you are happy your strategy is robost. This saves you both time and money when devloping the perfect strategy. If you are a new trader then the amount of historical data is a great way for you to learn how the market moves, try and spot trends and practice your trading before going live and risking any of your own money. Yes there are more advanced tools out there but they also come with big price tags. For this reason Forex Tester is our number one software as it offers a fantastic tool at a low one-off price that makes it ideal for anyone who is serious about making money from Forex. The fact you can download a free 30 day evaluation of the software is the icing on the cake that makes it a no-brainer as far as testing out the software and seeing what it can do for you. Click here to download your free #2 Forex Trading Software Review - Trading Solutions
The second of our Forex analysis software reviews is Trading Solutions due to the sheer detail their software can delve in to without compromising the ease of use. With neural networks and traditional technical analysis tools, this software allows you to spot movements in the Forex market way beyond the abilities of simple charting methods. With built in wizard software, Trading Solutions means that even a beginner in Forex analysis can set up the software and use it with complete ease. Unless you are experienced in using this kind of software this is absolutely critical to your success. The advantage of software such as Trading Solutions over simple signal analysis is that you can easily test your theories without risking losing any money. The software is able to to tell you how your trades would have performed should you have chosen to lay out the cash which is a god send if you are looking to develop your own currency trading strategy. Trading Solutions - Key Features Summary:
More than just a charting program with plots and lines, the intuitive portfolio-based interface in Trading Solutions lets you display the actions you need to take. You can import the data for the days trading and you'll know immediately what you need to trade based on the systems and models that you have selected. One of the really neat functions of the Trading Solutions software is that you get free daily trading signals and commentary imported directly in to your trading portfolio. This means you can make all of your Forex trading decisions from within the software tools for ultimate convenience. Overall, Trading Solutions offers a unique piece of software that I have not seen matched anywhere else. The overall package contains pretty much everything you need to become a successful trader and for that reason it is worth the considerable price tag. If you are still not convinced they offer a free evaluation version of their software so you can take it for a test run before you decide if the software is right for you. Click here to visit Trading Solutions and #3 Forex Trading Software Review - Lazy Trading
Perhaps it is not entirely fair to include Lazy Trading in the same section as Trading Solutions since this ebook is more of a strategy service than analysis software. However, I have had emails from people asking me for a lower-priced and simple to use alternative to Trading Solutions. It is to these people that I recommend Lazy Trading. Lazy Trading is based around the fact that not everyone has the time, knowledge or desire to spend time in front of a screen of various charts trying to work out which trade to make next. Rather than presenting you with masses and masses of information and leaving you to make your own calls, Lazy Trading teaches you how to spot perfect entry and exit trading points for ongoing profitability . The strategy comes with an ebook explaining the strategy in detail so you are not left completely in the dark with what is happening when you click to check for signals. Overall, LazyTrading is a good option if you have low funds, are a complete beginner, or just do not want to get bogged down with all the technical analysis yourself. NOTE: Lazy Trading has now sold out Forex Analysis Software Comparison Table:
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