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Forex Killer Review

Forex Killer ratings: 9 votes, average: 3.89 out of 59 votes, average: 3.89 out of 59 votes, average: 3.89 out of 59 votes, average: 3.89 out of 59 votes, average: 3.89 out of 5 (9 votes, average: 3.89 out of 5, rated)
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Forex Killer
It is software created by Andreas Kirchberger and it costs $89. It comes to you with an eight week one hundred percent money back guarantee if you didn’t like it. If you go to the Forex Killer site and chat with the online sales representative you could buy the software for US $79. There is just a one time fee to purchase this software. You don’t have to pay monthly fees whatsoever. Once you pay for the program you get a download link and through that you receive a zip file archive containing the program and instruction e-books.
Forex Killer software has simple interface, an instruction manual in pdf format and rather simple display of graphs. For an experienced trader this is sufficient. But for a newbie forex trader it really doesn’t tell you much in terms of how to interpret signals and do actual trading.

Features

How do you use this software or rather how does it work?
Forex killer is a semi-automatic system. All you got to do is feed the software data from any broker’s platform.
What is it you have to feed?
Simply input the last 10 currency pair closing prices of the particular time frame you are trading in. Then the software will generate the signal as to whether you should buy or sell. It does so based on statistical analysis. So all you got to do is choose the signal that you feel is correct and then open a market order with the recommended stops and profit targets. Of course you have got to keep in mind the time frames you were trading in.

So what you get with Forex Killer is a completely unbiased automatic and mechanical trading signal generator that to a certain extent removes the element of uncertainty from making forex trades.

Although you get the signals from the software, the way you decide to accept those signals and plan stops and target profits are left entirely up to you. This means that you should not only be adept at choosing the time frame, you also got to choose the time of day to trade with particular reference to the pair you wish to trade with.

The first sentence of the forex killer website says “no trading experience is required”. This is simply not true. If you didn’t have any forex trading experience how would you know which forex signals given by forex killer were the right ones to open a trade? Or how would you know which signals to decline if you had no prior forex trading experience? Also you must know to fill in the last 10 currency pair closing prices of whichever time frame you were trading in. This you can’t do if your knowledge on forex trading was negligible.
In recent years the Forex Killer software has undergone several improvements.
For example, the Forex killer 3.32 was released in 2008 and it has added features like trend analyzer and money manager. It also has a new improved forex killer strategy for long term trading.
In 2009, Forex Killer MT4 Automatic Auto Fx Kv 0.5c version was released and it comes free as a bonus with the Forex Killer package. With this software you no longer have to do manual loading of price data and this could be done automatically provided you are using Meta trader 4 platforms. So what the Auto Fx does is to load the price feeds inside the Forex Killer and plan trades for you automatically. This brings about a great improvement in the working of Forex Killer.
The negative part is the bonus books are not comprehensively made out and is not of much use.

Conclusion

I would recommend you to give Forex Killer a try if your knowledge on forex is not zero. If you are an experienced trader the software is certainly easy to follow, produces honest results, and has an email support function which really works. If you want to use Forex Killer without many risks and in a relaxed manner use it while you are trading on a higher time frame.
If you use proper money management you can get good results with Forex Killer signals. Just use the system wisely in combination with other systems and don’t ever use it blindly.

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9 Comments»

Comment by tim
2008-06-08 14:59:50

Looks to me its great for the guy who sells this software and pretty confusing for the chaps who buy it.Analysis tells me it works by first computing the percentage in pip change and then deciding on an ideal entry/exit time. I would love to have somebody telling me more on this.

tim ratings for this post: tim gives a rating of 3tim gives a rating of 3tim gives a rating of 3tim gives a rating of 3tim gives a rating of 3
 
Comment by admin
2008-06-12 14:06:03

I know people buy this software a lot, probably there is something in it. The big plus is that you got 8 weeks to test it!

admin ratings for this post: admin gives a rating of 5admin gives a rating of 5admin gives a rating of 5admin gives a rating of 5admin gives a rating of 5
 
Comment by jumbo
2008-06-19 15:40:32

Dont go and buy it if you have a Mac platform.It doesnt work there.

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Comment by fiona
2008-06-21 14:40:20

Not that good if you are going to rely on this software alone. But if you treat this as an indicator and reckon the signals generated alongside other parameters, yes it definitely adds to your trading.

fiona ratings for this post: fiona gives a rating of 3fiona gives a rating of 3fiona gives a rating of 3fiona gives a rating of 3fiona gives a rating of 3
 
Comment by Aerandir
2009-04-07 16:46:45

From my experience using this software, you must make some analysis to confirm the signal but still we can rely on this signal. The most important thing money management.

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Comment by leno
2009-07-03 13:00:43

Aerandir yes you got to confirm the signal from other sources but importantly its the relevance of the signal vis a vis the time-frame you are trading that matters.For example is the signal relating to weekly chart( I guess that might be the case)or is it down to the wire say a 5-minute chart? To some extent the software does figure it out for you but as you say money management is the key.May be I will work on this and come back with a review early next week.

leno did not rate this post.
 
Comment by beatrice
2009-07-20 08:12:16

The earler version of Forex Killer software was quite a bore. Although it gave you signals to enter the market you still had to set the stops and profit levels and that meant you had to have some “trading experience”. All that has changed with the 2009 release of Forex Killer 0.5c version. You don’t have to choose the time frame, nor do you have to select the time of day to trade,and you don’t have to fill in the last 10 currency pairs closing prices eithe.

All I do is load the price feed and the software does the rest,and that means more than 60 per cent positive trades which isn’t a bad idea after all. The bonus books that come along are not of much use but I guess the key to using Forex Killer is proper money management.

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Comment by blake
2009-08-23 16:18:44

I am a newbie forex trader. I found it difficult to interpret the Forex killer signals, although downloading the program and installing the software wasn’t much of a hastle. Agreed the software has easy interface, perfect instruction manuals and so on, but the key is in making the EA work profitably. Ok if you are an experienced trader,sure you will make headway, but not otherwise.

How does it work? It is statistical stuff, and I rely mostly on charts. Now I was asked to feed the 10 last currency prices of the daily time frame, since that was the timeline I was interested in. May be you should be trying a smaller time frame. But I wasn’t interested in that. So what did I get? I got the trade signal from the software based on statistical analysis of the 10 currency prices I had fed. In this case it happened to be the buy signal for EUR/USD, and so I went ahead, opened the trade, along with the stop and take profit numbers indicated by the software. It did work out right generally, but not always. Still I would say it has an acceptable way of working.

So what have we got here? A somewhat automatic and completely mechanical trading signal generator! But then you got to make up your mind, whether to accept the signal generated or not. That’s the key. And secondly, you got to keep in mind the time frame you would be operating in. So, some bit of thinking really needs to go into making this software work for you.

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Comment by MakeItMoney
2009-10-20 14:22:47

Most of my friends using this software and love it very much!

MakeItMoney ratings for this post: MakeItMoney gives a rating of 4MakeItMoney gives a rating of 4MakeItMoney gives a rating of 4MakeItMoney gives a rating of 4MakeItMoney gives a rating of 4
 
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