3 Pieces of Software You Need to Be a Successful Forex Trader

Look no further than radical success stories like George Soros or Bill Lipschutz to understand the billions of dollars you can make as a successful Forex trader.

For the uninitiated, Forex trading is the practice of trading currencies at a profit and it just so happens that the Forex market is one of the biggest in the world at 5 trillion dollars being traded every day.

If you’re looking to make your fortune with Forex trading, one of the top tips we can give you is to get familiar with high-quality Forex trading software. To better understand which software is worth your time, our team has put together this article outlining 3 of our absolute favorites!

1. Forex Calendars

Forex calendars are pieces of software that help you stay up to date on all Forex related news. Not only do Forex calendars aggregate breaking news stories and let you know the effect they had on the Forex market to help you trade effectively, some also makes projections!

That’s right! Forex calendars will let you know when the news is projected to come out and will estimate what the value of that news will be to the market so you can potentially get ahead of market shifts!

Forex calendars are offered by different providers and can be found for free. Check out an example of one here.

2. Trading Terminal

Trading Terminal is a powerful piece of Forex trading software that enables scalpers and traders alike to keep an eye on multiple currencies simultaneously. The software’s simple layout makes trading a number of currency pairs from the same window a breeze.

It also provides a host of other useful features that enable you to do things like one-cancels-the-other orders, set up stop-losses, take-profits and more!

3. Autochartist

Analyzing patterns is an important aspect of being able to get ahead of massive shifts in the Forex market. That’s why Autochartist is such a powerful piece of Forex trading software.

With Autochartist, you can spot things like heads, shoulders, raising wedges and other market tells via analyzing graphs. Given its robust functionality, Autochartist can be a tremendous learning tool for people new to Forex trading since the software will do a lot of heavy analytical lifting for you.

As you become more well-versed in Forex trading, you will be able to rely less on automated analysis and more on your own experience to be able to read data presented by tools like Autochartist.

Wrapping Up The Best Forex Trading Software

The successful Forex trader opens themselves up to incredible financial success. If you’re interested in achieving that, it’s important that you keep educating yourself on the market. Also, you should leverage great Forex trading software.

To get started, we recommend trying the tools listed above. By themselves or in conjunction with one another, they will make your Forex trading journey more streamlined!

If you’re looking for powerful Forex trading insight in the way of world-class free trading signals, look no further than RedHotFX. At RedHotFX, our team of Forex experts is dedicated to providing traders like you with everything you need to make informed, lucrative trading decisions.

You can learn more about all of the value we can bring to your trading strategy by getting started here!

This article was written by our in-house forex traders with a combined 20+ years of experience in trading the financial markets.