Forex Executor Review: The Simple Pros and Cons

Forex Executor is a forex signal service membership program developed by Victor Harrisson and Richard Chandler that uses both computer and human interaction. In simple terms, the program participant chooses a pre-defined trading style – based around the conservative, moderate, or aggressive trading styles – which is then traded by a human being. The program generates trading signals gathered by its computer software, which is then analyzed by the human trader who decides whether or not to place the trades. Each human trader is then monitored by the FX Executor program administrators for effectiveness and accuracy. When necessary, traders are replaced.

A highlight of the system is a trade copier software which allows the participant’s account, using the MetaTrader 4 platform, to automatically open the same trade that the human trader is placing at near real-time speeds. Actual users of the program report that they are able to get into trades, if not at the exact same point as the program trader, at least within 1 or 2 pips of the trader’s entry point. Overall, most users have been impressed and please with this feature of the program.

The Cons

Prospective users should not be lulled into a false sense of security about this program. If you are new and are lacking in experience trading a forex account, you may run into problems using this system to your advantage. Anyone using a system like this needs to spend the necessary time educating themselves about forex trading and trading in general. If you don’t know what you are doing, this system alone will not necessarily help you to become a more successful trader. In other words, you’d be a fool to just set-it-and-forget-it and expect it to make money for your account.

Another potential problem with this system is getting an understanding of how to properly set up the parameters within the trading software itself such that it executes ONLY those trades that you might wish to execute. Computers can be extremely useful when trading the markets, but they can’t think and analyze a potential trade like a human being. They don’t know the criteria upon which you are relying to make a trading decision. You have to realize the risks involved in using an automated system to enter your trades and be prepared to learn about how to reduce computer generated errors by setting up tight trading definition parameters: that is, when the computer decides to enter a trade that you may not have entered, notwithstanding the buy/sell signal being sent.

Another thing to watch out for are trading styles that aren’t working. While the style may sound good in theory, it may not always play out well in practice, when the rubber meets the road. Remember, these trades are being made by human beings, and human beings are also prone to making mistakes. Some styles that have been nominally tested and allowed on the trading platform have fallen flat on their face and had to be dumped. Before you place any money on a trading style, test it out in a dummy account to see how it works, and get feedback from other members before you begin putting money on it. You’ll save yourself a lot of headaches if you do.

The Pros

The Forex Executor program allows its members to set up their trading arsenal in the same manner that successful professional fund managers do. In other words, smart fund managers will diversify between different investment vehicles to balance poor performing investments with good performers. This allows participants to spread the risk (through differing trading styles, up to five at a time) such that when a more aggressive style has a bad day, another more conservative style may have picked to a winner, thus recouping the loss, and vice versa.

Of course, one can set up all conservative styles or any combination of conservative, moderate, or aggressive trading styles – whatever suits one’s tastes. Depending on the amount of risk one is able to sustain, individuals are able to design and build their own portfolio of trading styles without having to rely on just one system.

With FX Executor members don’t have to become a slave to their computer, as trading can be executed by the trade copier software 24 hours a day. The program’s state-of-the-art Auto Duplicator software executes the signals’ instructions and their trader’s actions in your account without need of your intervention. This can free up a member’s time such that he may be able, by over-viewing this process, to more quickly spot weaknesses in his diversity of styles and to make corrections or deletions to his portfolio as needed.

Since the program allows its members the choice of their own broker (members aren’t tied down to having to deal with a broker that the program chooses), there is no need to open a new account. One can use one’s existing broker. This also means that privacy is kept at a premium, as members won’t be revealing their account information to a third-party.

Is the Forex Executor program for you? Only you the individual can answer that question. We recommend that you do your own due diligence when looking into this program and arrive at your own conclusions. We hope this brief review has provided you with some insight into how this program works.

For some people, this may be a way into the forex investing game, which allows them to get a real-world education while at the same time limiting risk. For others, it may not live up to their expectation enough to really matter. Whatever the case may be, remember that you are able to try out the program for eight weeks at no risk with their money back guarantee.



Source by Thomas Eliot

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