Home > Forex software > Types and groups > Fibonacci software
Using of Fibonacci Software on Forex trading
The Fibonacci tool has over the years evolved as a stop loss order mechanism where traders use the retracement levels based on the number sequence of this system to increase the profit potential. It helps define position size which is based on the risk one is willing to take on each trade.
Apart from this you can also define objectives and as a pattern emerges when one uses the Fibonacci you can either book profits or use a stop loss. There is a number of Fibonacci software available which works on the Fibonacci principle and we would look at the features of these in a detailed manner.
| Name | Description |
| Nex Gen Software Services | Uses the support and resistance levels of Fibonacci to calculate it accurately and in an automatic manner. Irrespective of the different time zones the software works in a correct manner. There are different education levels of software to match the skill levels of the investor varying from the experienced trader to the investor who is making his first trade. There is also an introduction video that will help everyone get accustomed to the product. |
| PBSP | PBSP has software that has been developed keeping the principles of Fibonacci and the Golden Ratio. Using this you can analyze up to four trends in a simultaneous manner. There will be high point or low point in the market and it is during these times that the support and resistance levels of trading must be captured. The cost of the complete software package is $997.00 and you can order it online. |
| Track n Trade | Track n Trade has software where the projections of how the trading will be are done using the Fibonacci tool. The Fibonacci Arc tool helps predict the future with the help of wave patterns, retracement and projection levels. It is very easy to use and has a number of charts to help the investor understand the various details in a very clear manner. You can also avail of a 14 day free trial period and this can be done by visiting the website. |
| Forex Tester | Forex Tester which is a software tool which has applied the Fibonacci Retracement, Fibonacci Fan, Fibonacci Arcs concepts to the development of the analytical features found in it. These are the most common and popular techniques that are used in the software that was developed and which has also a wonderful simulation program incorporated into it. This helps the traders as well as individual investors take full advantage of the techniques used to make Forex trading much more simple and easy to use than the rather complex nature of it which kept most investors at bay. |
| Fibonacci and Gann | Fibonacci and Gann is software specifically developed for the purpose of meeting the very strict and exact requirements of traders. This software combines both Fibonacci and Gann concepts of forex trading and is said to be the best of both worlds. It is priced at $67.00 and can be ordered online. |