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.
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.
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.