Supra Forex Software is not a forex robot. Supra Forex Software has been developed by Elliott Pearce. You only need to use Supra Forex Software once or twice in a week and that too not more than 30 minutes. The good thing about the Supra Forex Software is that it can be used on any trading platform that includes MT4, NinjaTrader, TradeStation or whatever trading platform you are using. The problem with most other forex software is that most of them are exclusively developed for the MT4 platform. Supra Forex Software gives both daily as well as weekly signals.
Supra Forex Daily Signals
Supra Forex Daily Signals come with the entry, exit and the stop loss targets and trade only the 4 major pairs: EURUSD, GBPUSD, USDJPY and USDCAD.
Supra Forex Weekly Signals
Supra Forex Weekly Signals also come with the entry, exit and the stop loss targets but here you will be able to trade 21 currency pairs plus spot gold.
Now this software does not use any complicated indicators and your entry and exit points will be quite different from the majority of the traders. The best way to test this software is to trade with the daily and weekly signals generated by this software on a demo account for a period of at least two months. Since, this software comes with 8 weeks of no questions asked money back guarantee, you can safely do that. Test this software thoroughly for one month on the demo account.
It is always a good idea to keep a trading journal. Make this your habit to enter every trade that you make either on the demo account or the live account in the trading journal. This will make you more disciplined and in the end help you improve your trading system or strategy. So, demo trade with the Supra Forex Software for one month. At the end of the month do a thorough analysis of the performance of that daily as well as the weekly signals. You need to know the win ratio which is very important. Another thing that you need to know is the risk/reward ratio on average. Elliott Pearce says that his software always gives signals with risk/reward ratio of 1:2 or 1:3. Check if this is true. What was the drawdown and how many pips were made during the month.
If Supra Forex performance on the demo account is not good. Get a refund. And in case, if the performance is good and you are satisfied open a live account with a deposit of $300 and trade live with a lot size of 0.01 Lot for one more month. At the end of the month do a thorough analysis of the performance and only trade live with a bigger lot size if you are satisfied with the performance. Always keep this in mind that forex is a game where you will need patience to succeed. Don’t rush into live trading with a new software without first thoroughly testing it. Test a new software thoroughly on the demo account first and only trade live with it if you get good results. Making 50 pips daily should be your average goal. Don’t over trade. Read one of our posts where we show you how making 50 pips consistently per day can grow your account from a deposit of $250 to $1 million in 12 months. Good Luck!