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Martin Cole Forex Trading Software

Martin Cole Forex Trading Software

2 - 3 - minute read

2 - 3 - minute read

Trading software comes in many shapes and sizes. 

Some will argue that regardless of what software you are using the very moment you open a chart of a single currency pair, you have dedicated Forex trading software. 

That may be true in the term of what you're looking at, i.e. one currency pair on a screen, but we need to peek behind the screen for a moment. 

All forex trading software requires data in the form of market prices. The software takes these prices and from them draws shapes on your current chart. From this simple fact, we can draw a logical conclusion. The chart you are looking at on your computer screen represents the data you are receiving. If you receive different data, you will be making different trading decisions.

Earlier, I mentioned free trading software. Following the adage, "there ain't no such thing as a free lunch" let's consider why this high-quality trading software might not be so free as first implied.

Free Forex Trading Software

Free means you are getting something for nothing. If someone were to walk up to us in the street and start handing us free money, we would be suspicious and somewhat cautious. We root the reason for this suspicion and caution in the very social obligation for reciprocal return. 

This reciprocal return creates an obligation in us to return something back to the provider.

Today from behind our computer screens we are offered many free things. Still, as we are not with another human being giving those things, the reciprocal obligation does not kick in, in the same way as it does, face to face.

 Ever had dinner at someone's house and not felt obligated to return the invitation? 

That's a reciprocal obligation that you felt.

Make no mistake, there is a reciprocal transfer with your free Forex trading software. This transfer will pay dividends for the provider of that software.

Let's get back to market data for a moment. Your free trading software is supplied by your broker. Your broker will hold your money on deposit to facilitate your trading. 

As explained earlier for trading software to work, it has to receive data in the form of market prices, which allows your software to chart the market in a graphical format. 

Your free forex trading software, supplied by your broker, will get its data from your broker. Brokers can generate their own prices based upon real live currency exchange rates.

Are you making the connection? 

If you receive different prices from real-life currency exchange rates, even if a 10th of one pip, your broker will make a parasitic profit based on the difference between the real currency exchange rate quoted.

Remember. There is no such thing as a free lunch. 

What about automation?

Best automated forex trading software

What is the best automated trading software? To answer this question, we should first ask… Why you would want a computerised trading system. 

The answer to this might seem very obvious. To deposit money into your broker account and then into your bank account while you are sipping a pina colada on a sun-kissed beach.

Okay, I may have been extreme on that example so let's wind that back a bit. The reason traders will search for the best automated forex trading software is to absolve them from the responsibility of deciding whether to buy or sell. 

This search for automated software begins because of the confusion and indecision that builds up in the traders' mind. This build-up is because of not understanding how and why prices move as they do. 

No trader will ever buy anything until they expect it will rise in value. No trader will sell anything unless they expect it will fall in value. 

What this translates to in the real world of trading is that what a trader BELIEVES about the future direction of the price will influence whether a trader buys or sells. This leads us into another much sought-after trading product. Again with this, the trader is trying to absolve themselves from responsibility.

 Automated Forex Trading Robot

The automated Forex trading robot would better fit into that idea of sipping a Pina Collada on a sun-kissed beach. 

The subtle difference between automated Forex trading software and a trading robot might come down to how you would select the markets you wanted to trade. 

The automated trading robot takes on a life and mission of its own. You send it off into the ether to scan every currency pair on the planet until it locks onto a pattern.  

Far from being able to sit on a sun-kissed beach while this robot deposits money into your bank account, you discover that traders who use trading robots spend more time staring at a screen monitoring what the robot will do than most day traders who are themselves trading. 

The single most potent automated trading robot is between our ears. To succeed in trading, we need to learn how to activate it.

Best Forex Trading software for beginners

META TRADER offers the world for free.  Free trading software, free market data, free trading signals and free training. 

When you think about it trading financial markets is an enticing world. Everything is FREE, and you can make an endless amount of money. 

Come on in and join the party!

How deep is the rabbit hole?... Imagine today, you wanted to set up a brokerage firm. You would need software so that your customers could place trades through you. 

Well if you popped over the MetaTrader leading software site, you can get set up in no time at all. You might like to pay close attention to the infographic there that shows how the actual market data passes though THEIR server before it reaches you. 

So back to our question, what is the best forex trading software for beginners? The best when you're starting out and just getting your feet wet in the business may be some free software. However, the real danger in this is not the software itself but how the human mind locks onto and gets addicted to pattern recognition. 

Within a matter of weeks, your trading brain will be addicted to candle patterns, and you run the genuine risk of disappearing down the rabbit hole that many traders fall into.

Before you decide on the route, you wish to take concerning trading software you might like to visit the discussion where we weighed up the pros and cons of trading beliefs as opposed to trading price action.

Find out more below on my free wealth creation course.

Trading software comes in many shapes and sizes. 

Some will argue that regardless of what software you are using the very moment you open a chart of a single currency pair, you have dedicated Forex trading software. 

That may be true in the term of what you're looking at, i.e. one currency pair on a screen, but we need to peek behind the screen for a moment. 

All forex trading software requires data in the form of market prices. The software takes these prices and from them draws shapes on your current chart. From this simple fact, we can draw a logical conclusion. The chart you are looking at on your computer screen represents the data you are receiving. If you receive different data, you will be making different trading decisions.

Earlier, I mentioned free trading software. Following the adage, "there ain't no such thing as a free lunch" let's consider why this high-quality trading software might not be so free as first implied.

Free Forex Trading Software

Free means you are getting something for nothing. If someone were to walk up to us in the street and start handing us free money, we would be suspicious and somewhat cautious. We root the reason for this suspicion and caution in the very social obligation for reciprocal return. 

This reciprocal return creates an obligation in us to return something back to the provider.

Today from behind our computer screens we are offered many free things. Still, as we are not with another human being giving those things, the reciprocal obligation does not kick in, in the same way as it does, face to face.

 Ever had dinner at someone's house and not felt obligated to return the invitation? 

That's a reciprocal obligation that you felt.

Make no mistake, there is a reciprocal transfer with your free Forex trading software. This transfer will pay dividends for the provider of that software.

Let's get back to market data for a moment. Your free trading software is supplied by your broker. Your broker will hold your money on deposit to facilitate your trading. 

As explained earlier for trading software to work, it has to receive data in the form of market prices, which allows your software to chart the market in a graphical format. 

Your free forex trading software, supplied by your broker, will get its data from your broker. Brokers can generate their own prices based upon real live currency exchange rates.

Are you making the connection? 

If you receive different prices from real-life currency exchange rates, even if a 10th of one pip, your broker will make a parasitic profit based on the difference between the real currency exchange rate quoted.

Remember. There is no such thing as a free lunch. 

What about automation?

Best automated forex trading software

What is the best automated trading software? To answer this question, we should first ask… Why you would want a computerised trading system. 

The answer to this might seem very obvious. To deposit money into your broker account and then into your bank account while you are sipping a pina colada on a sun-kissed beach.

Okay, I may have been extreme on that example so let's wind that back a bit. The reason traders will search for the best automated forex trading software is to absolve them from the responsibility of deciding whether to buy or sell. 

This search for automated software begins because of the confusion and indecision that builds up in the traders' mind. This build-up is because of not understanding how and why prices move as they do. 

No trader will ever buy anything until they expect it will rise in value. No trader will sell anything unless they expect it will fall in value. 

What this translates to in the real world of trading is that what a trader BELIEVES about the future direction of the price will influence whether a trader buys or sells. This leads us into another much sought-after trading product. Again with this, the trader is trying to absolve themselves from responsibility.

 Automated Forex Trading Robot

The automated Forex trading robot would better fit into that idea of sipping a Pina Collada on a sun-kissed beach. 

The subtle difference between automated Forex trading software and a trading robot might come down to how you would select the markets you wanted to trade. 

The automated trading robot takes on a life and mission of its own. You send it off into the ether to scan every currency pair on the planet until it locks onto a pattern.  

Far from being able to sit on a sun-kissed beach while this robot deposits money into your bank account, you discover that traders who use trading robots spend more time staring at a screen monitoring what the robot will do than most day traders who are themselves trading. 

The single most potent automated trading robot is between our ears. To succeed in trading, we need to learn how to activate it.

Best Forex Trading software for beginners

META TRADER offers the world for free.  Free trading software, free market data, free trading signals and free training. 

When you think about it trading financial markets is an enticing world. Everything is FREE, and you can make an endless amount of money. 

Come on in and join the party!

How deep is the rabbit hole?... Imagine today, you wanted to set up a brokerage firm. You would need software so that your customers could place trades through you. 

Well if you popped over the MetaTrader leading software site, you can get set up in no time at all. You might like to pay close attention to the infographic there that shows how the actual market data passes though THEIR server before it reaches you. 

So back to our question, what is the best forex trading software for beginners? The best when you're starting out and just getting your feet wet in the business may be some free software. However, the real danger in this is not the software itself but how the human mind locks onto and gets addicted to pattern recognition. 

Within a matter of weeks, your trading brain will be addicted to candle patterns, and you run the genuine risk of disappearing down the rabbit hole that many traders fall into.

Before you decide on the route, you wish to take concerning trading software you might like to visit the discussion where we weighed up the pros and cons of trading beliefs as opposed to trading price action.

Find out more below on my free wealth creation course.

Forex Trading Software

Forex Trading Software

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LET ME SEND YOU A FREE COPY

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LET ME SEND YOU A FREE COPY

LET ME SEND YOU A FREE COPY

PAT FEATURED IN FOW MAGAZINE

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