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Find out the history of forex trading, how it works and how to trade. Note this is an educational site only and not for the purposes of forex trading.

NewsTrader Pro

For the forex trader who seeks the most comprehensive international trade and forex information, NewsTrader Pro is the ideal software. Developed by the Wincorp Consulting Company, NewsTrader Pro provides information on the economic indicators that any trader who hopes to carry out forex trading profitably must have. The economic indicators cover both the US market and the global economy.

NewsTrader Pro for forex traders
One of the most important decisions that a forex trader needs to make is the selection of the currency pairs to trade in. Decision on the currency pairs is influenced by a number of factors prime among which is the frequency of trades that a currency pair makes possible. For this reason, currency pairs of the leading global currencies such as the USD, the Euro, JPY and AUD are always a good bet. With NewsTrader Pro, the forex trader is provided with analysis of the leading nine currency pairs. Some of the currency pairs that you will obtain information on include EURUSD, USDJPY, USDCAD, GBPJPY and EURJPY. These are the leading currencies and also the most traded pairs. Since the ability to make a profit on the volatile forex market is influenced immensely by the accuracy and timeliness of information on currency pairs, NewsTrader Pro becomes an extremely useful tool for the forex trader.

NewsTrader Pro Economic indicators
It is impossible to trade profitably in the forex market without comprehensive information on Economic indicators and this is where NewsTrader Pro beats other programs hands down. The program provides data on more than sixty Economic indicators which have a direct bearing on the way forex trading is carried out. For the person whose main interest is the US Market, some of the Economic indicators that the program provides information on are the US Consumer Price Index (CPI), the Chicago PMI and a host of other indicators that directly influence the markets. For the global market, there is information on the important indicators on the markets in Australia, Canada and most of Europe. For all these indicators, NewsTrader Pro provides charts and analyses of current and historical price action. Decision-making for the forex trader is therefore greatly boosted.

To assist the forex trader, information on the economic indicators is provided in the form of candlesticks and Pip spike analysis. The trader also obtains information on the release price and the deviation of price from the time of release.

What NewsTrader Pro will cost you The fact that there are many organizations providing forex software for free might discourage some people from investing money in software that is available at a price. While some of the free software is good and capable of making forex trading profitable, there are disadvantages with some of the free software and that is why some organizations provide both a free and a paid-up version. The latter usually has more features and turns out to be more useful than the free versions.

The importance of Economic releases cannot be overemphasized as they determine the direction that forex markets take. Having access to information on Economic indicators gives a forex trader an undeniable edge over other traders.

To obtain the information that is available through NewsTrader Pro, a trader in the forex market will spend $500 but sometimes the software is available at a hugely discounted price and, should you buy when the software developer has a sale, the price could be as low as $200.

Given the wealth of information that the software provides to the forex trader, the amount spent in acquiring the software should be considered a small price to pay for an investment that will be beneficial in the long term.

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Disclaimer: Please note that forex trading can involve a significant risk of loss and is not suitable for everyone.

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