Investopedia

Continue to Site »

Forex Forecasting Software

Filed Under » ,
Dictionary Says

Definition of 'Forex Forecasting Software'

An analytical tool used to help currency traders with forex trading analysis through charts and indicators. Forex forecasting software provides charts of currency pairs that display price changes over time as well as indicator overlays including moving averages, which aid analysts and traders in determining appropriate and profitable entry and exit points for their forex trades. As with charting software used for trading other securities, forex charting software is used primarily by technical analysts to forecast future price movements.
Investopedia Says

Investopedia explains 'Forex Forecasting Software'

There is a wide range of forex charting software used for currency forecasting, which varies in appearance and functionality. Users should look for several things in forex charting software, including:
  • Is it free, or if there is a nominal charge? What additional features are made available?
  • What technical indicators are available?
  • Is the software Windows, Macintosh (Mac) or internet (Java or HTML) based?
  • Can you trade from the charts?
  • Is historical data made available through the software?
  • Is the graphical user interface (GUI) pleasing to look at?
  • Is the GUI conducive to monitoring a lot of information at once?
Most forex brokers allow you to open a demo account prior to funding a full account or mini account. This allows users to try out each broker's software during a trial period and determine which software best suits their needs.

Articles Of Interest

  1.

    Forex Automation Software For Hands-Free Trading

    Automated forex trading software scans the market for favorable trades based on your input. Find out more about this valuable forex tool.

  2. Getting Started In Foreign Exchange Futures

    Learn how these futures are used for hedging and speculating, and how they are different from traditional futures.

  3. Getting Started In Forex Options

    Stocks are not the only securities underlying options. Learn how to use FOREX options for profit and hedging.

  4. Commodity Prices And Currency Movements

    Find out which currencies are most affected by fluctuations in gold and oil prices, and improve your trading.

  5. Top 7 Questions About Currency Trading Answered

    Whether you're puzzled by pips or curious about carry trades, your queries are answered here.

  6. Getting Started In Forex

    Before entering this market, you should define what you need from your broker and from your strategy.

  7. A Primer On The Forex Market

    Moving from equities to currencies requires you to adjust how you interpret quotes, margin, spreads and rollovers.

  8. Parabolic SAR Buy Signals

    The Parabolic SAR indicator is flashing "buy" in these four diverse stocks. Not simply relying on one indicator though, I take a look at the overall technical outlook and determine which ones ...

  9. Trading Is Timing

    Learn how to make gains even if you don't get in at the right time.

  10. Leading Economic Indicators Predict Market Trends

    Leading indicators help investors to predict and react to where the market is headed.
comments powered by Disqus
Marketplace
Hot Definitions

  1. Winner's Curse

    Because of incomplete information, emotions or any other number of factors regarding the item being auctioned, bidders can have a difficult time determining the item's intrinsic value. As a result, the largest overestimation of an item's value ends up winning the auction.

  2. Glocalization

    A combination of the words "globalization" and "localization" used to describe a product or service that is developed and distributed globally, but is also fashioned to accommodate the user or consumer in a local market.

  3. Disaster Loss

    A special type of tax-deductible loss, similar to a casualty loss, where a loss has been incurred by taxpayers who reside in an area that has been designated as a federal disaster area by the President.

  4. Fool In The Shower

    The notion that changes or policies designed to alter the course of the economy should be done slowly, rather than all at once.

  5. Pattern Day Trader

    An SEC designation for traders who trade the same security four or more times per day (buys and sells) over a five-day period, and for whom same-day trades make up at least 6% of their activity for that period.

  6. Cost-Push Inflation

    A phenomenon in which the general price levels rise (inflation) due to increases in the cost of wages and raw materials.
Trading Center