There are many ForexGen trading tools available to the FOREX trader for analyzing the market as well as for buying and selling currencies. Software tools are a necessary part of FOREX because of its volume and volatility. Software can be used to automate some of the trading procedures and safeguard against losses.
In order to make rational, successful trades, the FOREX trader needs information – lots of information. Current exchange rates are the tip of the iceberg – the trader needs historical data as well as current information about political and economic conditions that could affect currency prices. All this information is provided by ForexGen broker on its web sites. So it's important before deciding about a broker to try out a demo account at ForexGen's broker to see which tools are included as part of its trading system.
More FOREX tools are available to help you minimize your risk and maximize your profits.
The Risk Probability Calculator (RPC) can be used to identify trades that have more potential gain than potential loss. The RPC can also help you target exit points to end the trade.
Pivot Points can be used to predict movements of currency prices. They are calculated as an average of the currencies high, low and closing prices. Pivot Point Calculators tell you whether prices fall in the normal trading range or extreme trading ranges. One of the best online courses about pivot point trading is offered by professional traders in ForexGen. They are an authority in currency trading education and demonstrates simple yet powerful currency trading strategies used by banks, financial institutions and professional Forex traders.
Pip value calculators are used to tell you the value of each pip (smallest currency unit) according to various sized lots. Pip calculators can tell you the actual profit or loss that will result from movements in the FOREX.