Forex Killer Review - Getting Started

November 16th, 2007 | by admin |

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The u­ser in­­terfa­ce for Forex­ Killer is p­retty stra­ig­ht forwa­rd­. A­t the top­ is where you­ en­­ter the p­rice d­a­ta­ for la­st 10 time p­eriod­s from you­r broker softwa­re. You­ ca­n­­ either key this in­­ ma­n­­u­a­lly or imp­ort the d­a­ta­ (see below). Then­­, you­ set the time fra­me, cu­rren­­cy p­a­ir a­n­­d­ ma­rket. Fin­­a­lly, you­ set you­r stop­ loss a­n­­d­ ta­ke p­rofit ma­rg­in­­s a­n­­d­ then­­ p­ress Ca­lcu­la­te. In­­ a­ few secon­­d­s, the softwa­re will d­etermin­­e&n­­bsp­; the a­p­p­rop­ria­te forex­ sig­n­­a­l&n­­bsp­; like Bu­y or N­­o Tra­d­e for tha­t time fra­me. I’m still n­­ot ex­a­ctly su­re wha­t the time fra­me mea­n­­s bu­t a­p­p­a­ren­­tly if you­ g­et a­ ‘N­­o Tra­d­e’ sig­n­­a­l for 15 min­­ timefra­me, you­ ca­n­­ reca­lcu­la­te a­g­a­in­­ for a­ lon­­g­er timefra­me, eg­. 1 hr a­n­­d­ ma­ybe g­et a­ Bu­y sig­n­­a­l for a­ lon­­g­er time fra­me. The time fra­me ra­n­­g­es from 5 min­­ to 1 week.

Fo­r­ b­o­t­h­ t­h­e­ sh­o­r­t­ t­e­r­m­ and lo­ng t­e­r­m­ signals, Fo­r­e­x K­ille­r­ giv­e­s yo­u t­h­e­ B­uy and Se­ll pr­o­b­ab­ilit­y at­ t­h­e­ b­o­t­t­o­m­ o­f t­h­e­ ch­ar­t­s. T­h­is t­e­lls yo­u h­o­w st­r­o­ng t­h­e­ signal is. If t­h­e­ diffe­r­e­nce­ b­e­t­we­e­n t­h­e­ b­uy and se­ll signals is t­o­o­ sm­all, t­h­e­ syst­e­m­ will giv­e­ yo­u a ‘No­ T­r­ade­’ signal. T­h­is m­e­ans t­h­at­ t­h­e­ cur­r­e­nt­ m­ar­k­e­t­ t­r­e­nd is no­t­ cle­ar­ and yo­u sh­o­uld no­t­ o­pe­n any t­r­ade­s no­w.

E­n­t­e­rin­g P­rice­ Da­t­a­ In­t­o­ Fo­re­x Kille­r:

F­or­ex Kil­l­er­ c­an­ im­por­t pr­ic­e data f­r­om­ M­etaTr­ader­4, Tr­adin­g Station­, Deal­Book360 an­d Sign­al­Sof­twar­e. So, in­ h­in­dsigh­t, sign­in­g u­p f­or­ Oan­da’s dem­o ac­c­ou­n­t was n­ot so sm­ar­t. I’m­ gon­n­a be u­sin­g th­e M­etaTr­ader­4 tr­adin­g pl­atf­or­m­ f­or­ th­e r­em­ain­der­ of­ th­is F­or­ex Kil­l­er­ r­ev­iew to down­l­oad pr­ic­e data as wel­l­ as exec­u­te dem­o or­der­s. Y­ou­ c­an­ s­etup a demo­ acco­un­t and do­wn­l­o­ad the MetaTrader4 so­f­tware f­o­r f­ree u­sin­g­ this l­in­k. Dur­ing th­e dem­­o account s­etup, w­h­er­e it s­ay­s­ Depos­it: 5000 to open an account, don’t w­or­r­y­. It actual­l­y­ r­ef­er­s­ to th­e am­­ount of­ vir­tual­ or­ pl­ay­ m­­oney­ y­ou w­ant to us­e w­ith­ y­our­ dem­­o account. I l­ef­t m­­ine at $5000.

T­o b­e con­t­in­ued …

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105 Responses to “Forex Killer Review - Getting Started”

  1. By Mark on Dec 11, 2007

    Great program forex Killer! I made over 260 pips last week! Thanks to Forex Killer

  2. By Samson A. on Dec 14, 2007

    Thanks for your comment about forex killer.I have the software but I lost the instructions that came with it and so I don’t know how to use it.I will appreciate it if you could pass the guide that came with it to me.My difficulty really is how to set the stop loss and profit target after the software might have given the indication to buy or sell with their percentage respectively.Please do help out

  3. By admin on Dec 14, 2007

    Dear Samson,

    I’ve emailed you the Forex-Killer instruction manual.

  4. By rohani on Dec 15, 2007

    i don’t quite understand with long term signal & short term signal of killer forex software. Must it shows both ‘buy signal’ or both ’sell signal’ then we can proceed the trade?
    Secondly, after we get the data from metatrader, input it in the software where it suggest ‘take profit’ & ’stop loss’. My question is where to put them in fxcm coz the ebook only shows where to put them in metatrader.

  5. By akin olu on Dec 17, 2007

    pls.how effective and reliable is the signals generated from the forex kiler software.and what about the effect of economic news releases on it. Thanks
    akin olu

  6. By admin on Dec 18, 2007

    Hi rohani,
    Both the long term and short term signals do not have to agree before you can place an order. I usually trade the 5 min or 15 min timeframes. So, i use the short term signals for my trades. In the FAQ ebook, short term signals refer to 5m,15m,30m and 1h timeframe. Long term signals refer to 4h,1d and 1week timeframe.

    I’m not familiar with the fxcm trading platform. Perhaps you can refer to their user guide.

  7. By admin on Dec 18, 2007

    Hi akin,
    It is recommended that you do not trade with Forex Killer before important economic news releases. The market can be very volatile. No trading system is perfect but Forex Killer is best used in conjunction with common trading practices, such as not trading against the market trend, etc..

  8. By akin olu on Dec 18, 2007

    Hi,
    thaks alot for your response.Attept to purchase the software yesterday was rejected using my mastercard on the account that my mastercard did not have the last 3 digits validation code.Pls.can you help me out.thanks

  9. By admin on Dec 18, 2007

    Perhaps you can contact your credit card bank for the validation code.

  10. By Edin on Dec 20, 2007

    Hey im totaly new to this trading thing i got a automatic EA from another web site where i payed 250 for it and looking in to buying this program since the other EA was not that good. How can i trust this forex killer program? why is it better then the rest? How hard is it to input date from the MT4 plate form? Please email me back.

  11. By Jack on Dec 20, 2007

    Hi there
    First off - thanks for the excellent review!
    Would you pls answer a couple questions about Forex killer?

    When you say above that “Forex Killer can import data from MetaTrader4, Trading Station, DealBook360 and SignalSoftware” - how hard is it to import the data?

    I have used MT4 (which I like very much) and I know that it has a DDE feed server which can supply quotes to othe applications, is that how FK gets the data from MT4?

    I have also used DealBook 360 by GFT which I find quite complicated and difficult to use. How do you import data from DealBook into FK?

    Trading Station - do you mean the FXCM Trading Station? How do you import data from the Trading Station?

    Signal Software - never heard of this one. Could you please provide more info or a link so I could take a look at it please? (and again - what’s the data import procedure?)

    And my other question is: how are the TP and StopLoss levels decided - does the software tell you these levels based on the trade probablity and your account balance you have to somehow calculate them yourself?

    Thanks and have Great Holidays!

  12. By Jack on Dec 20, 2007

    correction to typo in the last sentence of my prev. post:
    “does the software tell you these levels based on the trade probability and your account balance, or you have to somehow calculate the TP and SL levels yourself?

    thanks agains…

  13. By admin on Dec 20, 2007

    Hi Edin,
    Please take a look at the reviews section in the Forex Killer website. This gives you the trading experiences of other FK users. No software alone is going to guarantee you success in forex trading. That’s why when you purchase Forex Killer, they bundle a Forex Learning eBook together. You need to understand how the forex market works, some charting knowledge, candlestick charts are a must, news events that affect currency exchange rates, etc. Forex Killer will help to identify the entry and exit points when trading but even they admit that you won’t win every trade. What Forex Killer promises is to help you be profitable in the long run.

    It is very easy to input price data from MetaTrader. Simply select the timeframe for the chart you wish to trade, goto File -> Save As and click Save. Then, goto Forex Killer and click Load.

  14. By admin on Dec 20, 2007

    Hi Jack,

    It’s very simple to import data into Forex Killer. See my previous comment for MetaTrader. MetaTrader exports the closing prices into a CSV (comma separated) text file which Forex Killer is programmed to read. There is no DDE feed involved.

    The procedures for Trading Station, DealBook360 and Signal Station are much the same and are covered in the Forex Killer instruction manual.

    The Stop Loss and Take Profit levels in Forex Killer are predetermined levels for the timeframe you are evaluating. ie. For the 15min timeframe, the default SL is 25 pips and TP is 30 pips. You have to manually enter these SL and TP levels into each trade that you make. As it’s just a recommendation, Forex Killer does not do it automatically for you.

  15. By Hashim on Dec 22, 2007

    I really confused with the software that resulting in loss for several trading that i have trades. Prior trading, i download data from MT4 as instructed in the manual. The result i get are as follows;
    1. RED line instead of GREEN at the tailing edge.
    2. Manual input and auto input of price data from MT4(GBP/USD) give me different results with similar time frame (15 mins.). Manual input give me Buy signal and the probability to Buy-55.81%/sell-44.19% and auto input give me NO TRADE signal.
    3. The Predicted Price of manual input are higher than 14pips compare to the current “ASK or BID” price.

    Please help me to sort out this problem.

    Thanks.

  16. By Ram on Dec 25, 2007

    Am using MT4 to learn forex currency trading but the data feed is not accurate since their server where my demo account connects to - seems to be experiencing some problems.

    My 2nd choice is DB360 but it is not as user-friendly as MT4 - am completely lost as to where to input the data (SL and TP) from ForexKiller2 to DB360. I hope you can help me with this matter.

    Thanks

  17. By akin olu on Dec 27, 2007

    pls.send the forex-killer manual to me and at what time of the day can i trade the signals generated by the software.i mean the last ten closed trades thanks.
    akin olu

  18. By admin on Dec 27, 2007

    Hi Hashim,

    If you doing manual input of price data, make sure to use closing prices. I compared the results from using manual input versus auto input and they are the same. The 15min timeframe is quite short and the signal can change quickly from buy to no trade in one period.
    As stated in the manual, the predicted price is just for information and should not be used an an indication of price movement.

  19. By admin on Dec 27, 2007

    Hi Akin,

    The forex killer manual is in the same folder that came with the software. Else, click the help button in the software. It will launch the manual automatically. The time of day to trade depends on which currency pair you are trading. eg. the EUR/USD pair is most active when the London market overlaps with the US market, which is around 1300 - 1700 GMT

  20. By admin on Dec 27, 2007

    Hi Ram,

    I personally prefer MT4 as my trading platform. If your MT4 broker server is unreliable, you should give FXcast a try. http://learn-forex-online.com/goto/fxcast/

  21. By Ali on Dec 31, 2007

    I am currently downloading data from FX trade station 2 and another data provider just to compare. I get these signals with FX trade station 2:
    Short term: BUY
    Long term BUY

    Using the data from another provider is get:

    Short term: Buy
    Long term: Sell.

    So this is very confusing for me. I am looking at USD/JPY daily.

    Which signal I have to use?

    Dos the short term signal and long term signal has to correspond to BUY or SELL to enter a trade on any currency using the daily charts?
    Please advice.
    Thanks

  22. By Ali on Dec 31, 2007

    Hi,
    I imported data from tow different places (FXCM Trading Station and some other provider)
    I found that FXCM gave me:

    Short term: buy
    Long term: sell

    The other data gave me:
    Short term: buy
    Long term: buy

    Please advice why there is a discrepancy between the long term signals?
    Greatly appreciated,

  23. By admin on Dec 31, 2007

    Hi Ali,

    Please check the closing price data from the 2 sources. If they are the same, you will get the same result in Forex Killer. Sometimes, if you are trading very short time frames, like 5min, by the time you input the second set of price data into Forex Killer, you may have crossed over into a new time period and hence the signal may have changed.

    The short term and long term signals do not have to correspond before you enter a trade. As mentioned in a previous comment, short term signals refer to 5m,15m,30m and 1h timeframe. Long term signals refer to 4h,1d and 1week timeframe. So, if you are trading the 15min timeframe, just look at the short term signal.

  24. By Jacques on Jan 2, 2008

    When we download data fron MQ4 chart,do we have to put the chart in candle format before?
    Thank

  25. By Ali on Jan 10, 2008

    I got a buy signal last night 8:30 EST for GBP/USD. The trend is down! How can I get a buy signal when the trend is down? This morning the trend was down and I was in -1300?? My question is; when is the best time to use the signals from the software? Is it when both markets overlap each other? i.e., London and NY. Please advice.

  26. By Jacques on Jan 14, 2008

    When I click on Help tab or on “Detailed Instructions…” on Help menu nothing happens. Why?

  27. By elufidipe olaoluwa on Jan 15, 2008

    i have account with Lite forex which is mini account but i want to grow it to somthing bigger can i use the forex killer to trade miniaccount of about $50 but in cent which c5000 pls i will be very happy for the quick response

  28. By admin on Jan 16, 2008

    Hi Jacque,

    1. No, you don’t have to put MT4 chart in candle format before exporting price data. The chart formats doesn’t matter, only the timeframe.
    2.The “Detailed Instructions” actually is the Forex Killer Instruction PDF file. It must be in the same folder as Forex Killer for the tab to work correcly.

  29. By admin on Jan 16, 2008

    Hi Ali, the best time to use Forex Killer depends on your trading profile, whether you are a scalper or position trader.
    Scalper prefer the time overlap between the New York and London markets as it is the most volatile. Here, you have to be on your toes as the signals can change suddenly.

  30. By Ali on Jan 16, 2008

    I am a position trader not a scalper. I use the day signal to enter. My question is; is it preferable to use the signal early in the morning when both markets overlap each other (8:30 am EST)? Or when the market is not very active ie; after 5 pm EST?

  31. By Jacques on Jan 16, 2008

    Thank for help. Another question: When I change Time Frame in Option Tab or in Option menu, there is no change in time frame in Step 2: Set Parameters. Is it normal? The “Sys” file is in the same folder than the Forex Killer program. I also observe that if I don’t change currency pair in currency in step 2, this does not affect calculations???

  32. By Michael on Jan 18, 2008

    I started demo trading this past Monday.
    Up to yesterday afternoon I couldn’t believe my eyes: $7000 dollars in 3 1/2 days on a $10000 account !!! 70% in under 4 days ….INCREDIBLE !!!

    Then yesterday evening I lost 5k.

    I am now up 3000 at the time of this writing. So I am still impressed with the software.

    The reason I lost and made all that money is because I am trading all signals on all pairs. I am doing this to find the best, and most reliable, pairs and times to trade.

    Then I will only trade live on the consistent ones. Also looking at ways to improve the Profit Factor. Using a trailing stop set at 45 pips ruined most of the good runs.

    I trade on the 4hour TF so my SL is 70 and TP is 90. You can understand that if a trailing stop is activated is because price went 45 pips in your favour. And that is a good move (in my book), so maybe profits should be taken when there.

    I am open to receiving advice, and maybe work together, on how to get the most out of this good software.

  33. By Elijah The Tishbite on Jan 20, 2008

    NOOB alert!!! I just purchased forex-killer, and I cant seem to get it working properly. I input all the data, but it says it cant perform the operation do to the sys file that is included. I dont know how to include this sys file, as it is a self exploding exe program, and has no folder (am I wrong?) Do I put the sys file in my windows dir, or what is the freaking story? Do I ask mr guru for a refund?

    t

  34. By Jacques on Jan 21, 2008

    Hi Admin, are you still there???

  35. By admin on Jan 22, 2008

    Hi Jacques,

    When you change time frame options in the Options menu, you are actually setting the default stop loss, take profit and decimal values for Step 3.
    That’s why there’s no change in Step 2 parameters.

    When you change the currency pair, take a look at the Buy and Sell probability percentages. They change according to the currency selected.

  36. By admin on Jan 22, 2008

    Hi Ali,
    If you’re trading longer timeframes like the 4hr, it doesn’t really matter what time you calculate your signals. Just avoid 30mins before and after major news announcements.

  37. By Michael on Jan 25, 2008

    Hello,

    I was wondering if you could help me with something I noticed:

    Why is it that sometimes the software generates a buy signal and the red part of the line on chart is actually pointing downwards ? Is there any difference between this situation and when it actually points upwards ?

  38. By Jihadi on Jan 26, 2008

    Dear Admin,

    Is there a trial version of the forex killer software. Just to make that sure that it really works as describe in the website.

    Thank you.

  39. By admin on Jan 29, 2008

    Hi Jihadi,

    No, there’s no trial version available.

  40. By mike on Feb 1, 2008

    Great software i must confess. made 240USD last nite. wow! impressed. but would be glad if another merchant would be introduced so that credit cards from country like nigeria would be accepted.

    Too bad people want to buy it but can’t…..

    I would advice that worldpay should be included in the payment platform because they accept nigerians’ credit cards.

    I’m glad man!

  41. By matt on Feb 4, 2008

    Hello. I use CQG and my partner uses E-signal. Can either of these datafeeds be used with FoexKiller? Thanks

  42. By Bill W on Feb 8, 2008

    Dear Sir,

    Being a complete novice and knowing nothing about Forex trading, I purchased Forex Killer and downloaded MT4 as it’s partner but after reading the FK manuals, I still don’t know if I should set things up for 30M, 1H, 4H, 1D or 1W! (I reside in Australia and believe 5M and 15M would be of little use to me…But I don’t know)
    I have FK in three seperate folders covering 1-USD/CHF, 2-EUR/USD and 3-GBP/USD and I import data charts from MT4 for 30M and 60M for each set of currencies, I have also tried importing data for 240M and 1440M for each lot of currencies but I’m feeling lost because I know nothing about the Forex market…Apart from the fact that even experts can loose their shirts if they are not careful.
    As a novice, which timeframe would you say I would be best working with and should the data for that timeframe be updated at the chosen timeframe? For instance, if I was to start at 9am each morning and had FK set for 1H, I import the 1H data file from MT4, then load it in FK, should I then update the 1H data file again at 10am, 11am, 12noon and so on? Then work from the advice given by FK…i.e. BUY, SELL or NOTRADE?

    Thanking you in advance for your advice.

    Sincerely,

    Bill W
    Australia

  43. By mike on Feb 8, 2008

    i recently bought forex killer software and i thought it is easy to use;i don’t know, maybe i am dumb and don’t konw how to use it, hopefully i can find some answers from someone with experience with this software.

    1.how to input long term signal data if i save a chart of 15 minute and export to short term signal data?
    2.what is the difference between from file and manual in the box above long term signal data? how to use it?

  44. By nelson on Feb 8, 2008

    please i want to ask does forex killer gives a future signal or its an immediate one becos wen i run the software it may say buy will the market is trending down, on the other hand when the market is trending upward n i run the FK it will be saying sell. wat exactly are the signal is it a future trend or present tread.
    thanks

  45. By admin on Feb 9, 2008

    Hi Matt,

    I don’t think Forex Killer accepts datafeeds from CQG or E-Signal directly. However, you can still input the data manually. FK only uses the last 10 closing prices for calculations.

  46. By admin on Feb 9, 2008

    Hi Nelson,

    Forex Killer gives you buy/sell signals for future trends. Shorter timeframes like 5min & 15min are much more volatile and the signals can quickly change from buy to sell and vice versa even in trending markets.

  47. By admin on Feb 9, 2008

    Hi Mike,

    When you export 15 min price data from MetaTrader4, you actually get several years of price data. Forex Killer uses this for both the short term and long term signal calculation. There is no need to key in the long term data separately. If you really want to, then select the Manual option above the long term signal data.

  48. By admin on Feb 9, 2008

    Hi Bill,

    When you bought Forex Killer, you will have received a free e-book on Forex trading. I highly recommend that you read that first. It will give you background knowledge on forex markets, forex terms, etc.

    Choosing a timeframe to work with really depends on your trading style. Shorter timeframes like the 5, 15 and 30 min are more volatile and require constant monitoring. ie. you have to watch the charts all the time while your trades are open. If you can’t be at your computer all the time, try a longer timeframe like 1 hr or 4 hr. After the timeframe period closes for the 1hr or 4hr, you don’t have to export the data again to load into Forex Killer. Just manually enter the last closing price into the New box at the end of the short term data row and click add. Then click Calculate again to get a new signal.

  49. By nelson on Feb 10, 2008

    thanks admin for the reply to my mail i appreciate but i still have questions been that i wanna be successful using FK and havin u by my side. do u think using signals from 1hr short term and signals from daily also short term to correspond is a good deal for entryin a market position for example if 1hr short term is sayin buy and the daily short term is also saying buy then i wait for the market to trend buy. do u think is a good tradin system cos i only want successful trades.but if they both disagree i dont execute a trade. wat do u think about this method

  50. By mike on Feb 11, 2008

    thanks admin;now i have few hours watching market at night (LA) so i can monitor a little;and i usually watch 5 and 15 minute chart on gbpusd;mostly closely monitor 5 minute just in case ready to enter the price;i am just asking for your own opinion (i am not saying that you will be responsible for what you answer to my question,ok);if you were to watch 5 minute chart gbpusd every night and try to find the signal and now you have forex killer as a signal generator;my question is 1)what timeframe would you save and export to forex killer software (step 1);2)which timeframe will you set as parameter for currency gbpusd (step 2) and 3)which term (short or long) of signal you would trigger and for how long would you use that term data (step 3);i would really appreciate for your thought and help,thanks.

  51. By danny on Feb 13, 2008

    just can’t seem to get the stuff working..

  52. By mike on Feb 14, 2008

    i lost so much with forex killer software;yet i still don’t know how to use it and admin did not answer my question or give me any help;that sucks;if anyone nice enough to show me how to use forex killer the right way to make profit i really appreciate,thanks.

  53. By admin on Feb 14, 2008

    Hi Nelson,
    “The trend is your friend” is one of the most quoted in forex. It is better to trade in the direction of the trend than against so having the trend confirmed by looking at both a shorter timeframe and longer timeframe makes sense.
    Unfortunately, even with this, you won’t win every trade. Even Andreas Kirchberger, who created Forex Killer tells you in the instruction manual that you won’t win every trade even with Forex Killer. The idea is to be profitable in the long run and that’s the role of Forex Killer.

  54. By admin on Feb 14, 2008

    Hi Mike,
    Here’s my thoughts. If you’re trading the 5m timeframe, you’re really trying to scalp the market. If you get 20 pips profit, I would immediately close the position and take that 20 pips. Else, if you want to hold on further, set your stoploss to breakeven and use Forex Killer for the signal to close your positions.

    1. I would save the 5m timeframe and export that to Forex Killer.
    2. In FK Step 2, I would select the 5m timeframe and GBPUSD currency.
    3. I would look only at the short term signals to buy and sell. Remember for the 5m timeframe, that signal is only valid for 5m.

  55. By admin on Feb 14, 2008

    Mike, another thing. If you’re totally new to Forex, use a demo account to practise trading using Forex Killer. Don’t use your hard earned money to learn forex. You can get a demo account from FXCast from one of the links above.

  56. By mike on Feb 15, 2008

    it is good to hear from u,admin,finally and thanks for explaining it to me;so if i use 5 minute chart to export data from mt4 to fk,i will do it after the current 5 minute candlestick close and then save to csv file;and then load from where i put the gbpusd5 data into fk;after that i will calculate to generate next one 5 minute candlestick signal;and whatever price is generated to either buy or sell according to fk result,i will just enter market order;then i will set tp and sl;so i will just wait until the price either hit tp or sl,right?or i will continue to generate the next signal after the current 5 minute candlestick closed?what is the predicted price?according to the manual from fk,it is the price generated from the software but what is it?is it a predicted price to buy or sell along with the signal?or is it the predicted profit price or stop loss price?ok when u replied to nelson and mention ‘Even Andreas Kirchberger, who created Forex Killer tells you in the instruction manual that you won’t win every trade even with Forex Killer. The idea is to be profitable in the long run and that’s the role of Forex Killer.’ i agree;but how long is the time i would consider focusing on when i am trading mini account with less than $500 in the account and yet i am trading every night possible and honestly i don’t really need to profit a lot of pips;i could accept to earn 5 to 10 or sometimes 20 pips per trade;but i have a hard time figure it out which timeframe should i use to get signal from fk;i also try ur recommendation that i used 15 minute chart to get signal and 1 hour chart to get signal on gbpusd (today);what i found out is that in 15 minute chart signal i get buy on short term and sell on long term;on 1 hour chart data i get sell on short term and sell on long term;so i forget about short term and i just placed a market order on mt4 demo as a sell according to both 15 minute and 1 hour chart data but i only use 15 minute chart data to set tp and sl;about close to 1 hour later it is little profit but has not reached tp and i just close it manually (in the meantime i still monitor 5 minute chart instead of 15 minute or 1 hour after i place order);see if i pick sell signal and that is from long term and according to the manual from 4 hour to daily to weekly considered long term but 5,15,30 minute to 1 hour considered short term;i am now very confused that should i use long term signal to trade short term because both 15 minute and 1 hour short term data don’t agree?thanks again and please try to answer this one too,thanks so much.

  57. By mike on Feb 22, 2008

    come on,admin,no response again????i lost 100 pips today,please helpme?

  58. By Pips Rider on Feb 28, 2008

    It seem that lot of people do not success with FK. Yes, I believe that without good technique, you will lose your trading using FK. Good Mike have some strategy for you to use. We are the FK user too but with different strategy and of course FK is working to us. We spent lot of time to study this software and finally we found a way to trade using simple FK software. With a good strategy and technique, FK may give you hundreds to thousands pips a month…

  59. By mike on Feb 29, 2008

    hi pips rider,can u kindly show me how to trade with fk as u mentioned in ur post that works for u and fk could make u hundreds of pips a month,thank you for prompt reply.

  60. By mike on Mar 5, 2008

    come on,pip rider,help me how to use fk,please

  61. By admin on Mar 5, 2008

    Hi Mike, I’ve put up a simple winning strategy for Forex Killer on the blog. Take a look. It’ll be a great help to all Forex Killer users out there.

    Cheers!

  62. By Erv Cox on Mar 12, 2008

    I am a newbie with Killer Forex. I bougt is sometime back but did not use it until I located a stratagy. Since the software supplier provides absolutely no good stratgy for its use, it took me a while to locate one. The one I found is just like the simple winning strategy posted here. I have been using in now and I am up >20% on my demo in just 2 weeks.

  63. By Buck on Mar 13, 2008

    I just wanted to let everyone know that I purchased Forex Killer last week and started using it on a MT4 Demo account last Friday. I set up the demo account for $3000. The software was easy to load but the instruction PDF file leaves little to be desired in my opinion. Having dabbled and lost money in Forex in the past the software is relatively easy to use. On Friday the 7th I opened a couple of trades using the 5 and 15min chart data that I loaded into Forex Killer. I walked away from those trades up 40 pips but I didnt get too excited and just took it as beginners luck. Over the weekend I was doing some research on Forex Killer and came across the “Simple Forex Killer Strategy” that can be found on the top of this page in Recent Posts. The strategy is very straight forward and easy to understand. I started testing this strategy on Tuesday the 11th and I also used it again last night the 12th at the same time as directed in the strategy instructions. I have been in 5 trades so far and 4 of them have been profitable. I am up 90 pips in 2 days. So for 3 days of trading using Forex Killer I am up 130 pips and my Demo account now sits at 4300 bucks. I plan on using the Simple Forex Killer Strategy until my demo account expires and I will keep you updated on my results. As I have already said I am not getting too excited about this product yet but if I keep getting results like I have been I may start changing my mind.

  64. By latifah on Mar 23, 2008

    hi admin,

    I have bought FK software. Unfortunately my laptop has a virus and have to format. So, how can i get back my FK software ?
    TQ

  65. By admin on Mar 23, 2008

    Hi Latifah,

    Forex Killer would have sent you a link to your member’s area when you bought the software. Login to your yahoo mail and click on that. You should be able to download the software again.

  66. By latifah on Mar 24, 2008

    hi admin,

    When i use it, sometimes it make me confuse.
    The prediction price is for what. The best probability is how much? If i use 15min data, that mean i must use 15min timeframe and after 15min i must input new data for 15 close price. and 15 min signal mean for 15 min trade open and close.
    tq

  67. By Ren on Mar 27, 2008

    Can I just leave the default take profit and stop loss as per the software? I realise that it’s making more stop loss than profit. Please advise. thanks.

  68. By El-Giathi on Mar 27, 2008

    I need the instruction guide for the software. Could you please send it to me.

  69. By admin on Mar 28, 2008

    Hi latifah,

    Predicted price is just informational price based on program calculations and predictions. You don’t really need it.
    The best probability for signals is 70% or more.
    Yes, if you use 15min data, you must use 15m timeframe. When the new 15min period occurs, just add the closing price for the last period into the New box in FK and click Add. Then calculate again for new signal.

  70. By admin on Mar 28, 2008

    Hi Ren, yes, you can use the default stop loss and profit. Are you using the simple forex killer strategy? You need signal probability of 70% or more before opening a trade.

  71. By admin on Mar 28, 2008

    Hi El-Giathi, you can download the manuals and guide from your FK member’s area.

  72. By el-giathi on Mar 28, 2008

    dear sir,

    please forward me a link to FK Members Area, i can not find it any where on your web-site.

    Thank you

    El-Giathi

  73. By craig r on Mar 28, 2008

    Dear Sir,could you please send me a link for your members web site.Thank you

  74. By admin on Mar 29, 2008

    Forex Killer Member’s access link

    You can access the FK member’s areas through this link => http://learn-forex-online.com/goto/Forex%20Killer/

    After acquiring the FK software, they will send you the member’s area link via email.

  75. By tom on Mar 29, 2008

    Hi admin,

    Is the FK v1.0 working in same way with FK v3.0 (in producing signals)? I seen that FK v3.0 much more new features.

  76. By admin on Mar 29, 2008

    Yes, the interface is still similar, just optimised to reduce complexity. The new money management features and support and resistance trend line builder are key new features.

  77. By El-Giathi on Mar 29, 2008

    The link you have given me takes me back to the Forex Killer order page. I have already Purchased the programe a week ago, and i have downloaded the software but i never received an email with the members area link. Could you please help as i really need the user guide.

  78. By latifah on Apr 4, 2008

    can you give the best timeframe and a strategy of FK.

  79. By sci on Apr 6, 2008

    Hi Admin,

    What changes can I make to the default settings on FK?

    I noticed you changed your default SL and TP depending on the time frames.

    Others have changed theirs also and have had more success in doing so.

    May I have a better SL and TP to correspond with the timeframes in FK please?
    (in your opinion)

  80. By sci on Apr 6, 2008

    These are set at default when I got my FK.

    What has been a better SL and TP based on these time frames for you?

    TIMEFRAME SL TP

    5min 15 20

    15min 30 30

    30min 40 50

    1hr 50 70

    4hr 70 90

    4days 80 120

    1wk 100 160

  81. By goldtrader on Apr 9, 2008

    hi,purchased the software and trading on demo account,but profits never seem to hit take profit level,should i be taking a profit earlier or i am doing something wrong with software when loading data..

    regards..

    goldtrader

  82. By admin on Apr 10, 2008

    Hi latifah,
    Here’s the link to the simple forex killer strategy => http://learn-forex-online.com/2008/03/05/simple-forex-killer-strategy/

  83. By admin on Apr 10, 2008

    Hi sci,

    The default SL and TP change automatically when you select a different timeframe in FK.

    The default TP levels are reasonable but also depends on the currency pair you’re trading. Some pairs like the GBP/JPY are more volatile and can hit the default TP easily. The best way to set your TP in my opinion is to study the charts for that currency pair and timeframe and measure the average pip gain or loss between a support and resistance trend line. That way, you will get a feel for a reasonable TP level for that currency pair.
    For this reason, it is also best to focus on just a few currency pairs and understand the price action well for these pairs. The best forex traders focus on only a few pairs at a time.

  84. By admin on Apr 10, 2008

    Hi goldtrader,

    As mentioned in my comment above, the default TP in forex killer is just a guide. Feel free to modify it to suit your trading style. You can also set a Trailing Stop inside your broking platform so that in case you don’t hit your TP and the price reverses, you will still close the trade with a profit.

  85. By El-Giathi on Apr 11, 2008

    Please can I remind you that im still looking for the members area and you did not get back to me.

    Thank you

  86. By admin on Apr 12, 2008

    Hello El-Giathi,

    I am not a customer support representative for forex killer. You have to contact them together with your receipt number for the link to your member’s area.

  87. By duyduy on Apr 23, 2008

    When I ask about forex killer in forex yahoo group, many said it is scam, I don’t know why..

  88. By Gary on Apr 25, 2008

    hi admin, I entered a question yesterday but it seems to have been removed, or for some reason I can’t find it. I will send it on to Andreas
    thanx

  89. By Timwal on Apr 25, 2008

    Hi, I’m a newbie to forex trading and have heared so much about the forex killer software. You mentioned that the signal generated by forex killer must be in line with the trend of the daily chart,please how do I determine the trend on the daily chart?

  90. By Fidelis Obodoeze C on Apr 26, 2008

    Forex-Killer is a good software but it depends on your strategy. I used it on demo for 1 month period and it yielded good results, very accurate results but when I used it on live account of $1000, I lost about $50 in the first two trades. I used it in demo for longer time frame and it worked very well but when I used it in live account for scalping it failed woefully.

    Please can somebody advise me on how to use Forex-Killer for scalping and how many stop-loss pips should I use?

    Thanks.

  91. By admin on May 1, 2008

    Hi Timwal, you can determine the trend of the daily chart by using the Support and Resistance trend line builder in Forex Killer.

  92. By admin on May 1, 2008

    Hi duyduy,
    Many people have used Forex Killer successfully. The makers of FK are so confident of their software, that they offer 8 wk, no questions asked, money back guarantee through Clickbank.

  93. By admin on May 1, 2008

    Hi Fidelis,
    I wouldn’t use Forex Killer for scalping. The best strategies for FK involve the 1hr timeframe charts.

  94. By jamshid on May 24, 2008

    Hi Admin.
    when i takeprofit goal ,shoul i close the positions or FK will do it.How can I put S.L and T.P parameters in Order .
    Thanks, Jamshid

  95. By Toluwase on May 30, 2008

    Hello Admin, please could you explain how I can use the Support and Resistance in FK to determine a daily trade.?

    Thanks.

  96. By admin on Jun 5, 2008

    Hello Jamshid,

    When you reach your take profit goal, you have to manually close the position. FK does not do it for you.

    The setting of TP and Sl depends on your trading platform. Please refer to your trading platform manual for instructions.

  97. By admin on Jun 5, 2008

    Hi Toluwase,

    The Support and Resistance lines are to help you to determine whether to enter a trade or not. Visit http://www.babypips.com for more information on how to use S & R lines.

  98. By yuvaraja on Jun 6, 2008

    Dear sir, how do i update my forex killer software, i have deleted my mail regarding the member area… please help

  99. By admin on Jun 10, 2008

    Dear Yuvaraja,
    Please contact Forex Killer support at support@forex-killer.com

    They will be able to help you.

  100. By seun on Jul 3, 2008

    Hi
    You doing a great job here, where do i get the feeds for the fx killer on my mt4 trader. I want to input manually

  101. By admin on Jul 5, 2008

    Hi Seun,

    If you’re using MT4, you can upload the prices automatically by exporting the price data for the chart you’re working on (Choose File > Save As). Else, if you really want to input the prices manually, you can go to the History Center (F2) in MT4.

  102. By chris on Jul 18, 2008

    hi

    I’m new to fx and would appreciate your help. if having exported the data from Metatrader4 into Killer Forex and then get a buy or sell signal, can i use easy-forex trading Platform to place a trade? Or do i have to Metatrader platform to place a trade?

    thanks

  103. By admin on Jul 21, 2008

    Hi Chris,

    Yes, you can use easy-forex or any other trading platform to make your trades. Forex Killer works independently of any broker.

  104. By SS Sim on Jul 21, 2008

    Hi Admin,

    I purchase the software yesterday and try to download the export data from FXCM trading platformfor the input data, for some reason the data on the last 10 closed position do not tally with the candle stick value in the chart.

    Please assist to advise.

  105. By John on Aug 29, 2008

    I recommend forex-killer to any forex trader…(I heard it works with futures or stocks but I have only tried it with forex particularly the EUR/USD).

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