Forex Killer Review, an Unbiased Perspective and Strategy

Please do not consider this review as a recommendation to buy forex killer, I wrote it to help people who have already purchased the product and want to get something out of it but the software is barely of any more use than most of the freely available indicators out there. You can get the same or better results with simple indicator based systems !

I was looking at several forex trading systems the other day – mainly expert advisors – when I realized that my whole focus has always been on automated trading systems. I thought – maybe I’m missing on some opportunities – so I decided to take a look at some of the most broadly known forex trading systems. I mean, the mass marketed, almost scam looking, forex systems. The ones with the testimonial filled selling pages where you are almost pushed to buy.

One almost instantly caught my attention due to the enormous amount of positive “reviews” available online. I say “reviews” because almost all of the web pages are absurdly biased. They have affiliate links all over the review, not meaning they are lying, but implying they have a concrete reason to do so, mainly getting a profit. For me, any review made on a product that includes an affiliate link is by definition not trustworthy, not necessarily dishonest.

So I decided to test it myself. It really wasn’t that expensive so I guessed it wouldn’t have hurt if I bought it. The forex system I bought is called Forex Killer.

The system promises heaven (sounds familiar?), telling you that you will earn thousands of dollars everyday. Quiet enough to quit your everyday job and dedicate yourself to forex trading. The website also states that the system is good for newbies (no experience required) and is easy and profitable by itself. The system basically tells you that it is the solution to all your financial problems. Well… I have a story to tell you.

At first glance, it really looked like a trading system for dummies. Big buttons, simple graphs, apparently simple interface and a simple instruction pdf. Well, I started to try and see the software through the eyes of a forex newbie trader, I was frankly lost. The instructions really don’t tell you much. They don’t tell you anything about actually trading, how to precisely interpret signals, make decisions, etc. This was a real turn off for me. You would have expected such an advertised piece of software to explain the whats, whys, whens and hows of the situation. What you get actually makes you feel like an abandoned child which ultimately would lead to you loosing your money.

After a while I started to figure the basics of the software. Save Metatrader data, import, calculate signals, execute signals. The problem actually has nothing to do with importing the data or calculating the signals. The missing part and the most crucial one, is forgetting to teach interpretation and discretion. What signals to ignore and which ones to execute. I’m fairly literate and experienced in forex trading so I decided to apply some very basic rules and try to make the software work.

And I did just that. You can see the rules in the ebook I am selling for 75 USD – just KIDDING ! – I want to tell everyone this rules so that you can consider them yourselves and not actually loose the money you spent on this piece of software (keep in mind they are just a suggestion, no guarantees what so ever). The rules I am going to tell you have worked for me for the past week, actually making me 55 pips per day, average, still no losing days (only tested for two weeks though). I have managed to get about an 80% winning rate, all this on a live account (trading about 0.01 lots for safety !). I have spent about 10 minutes everyday on this.

It is a simple set of instructions anyone could follow (I hope even the newest of rookies) :

Set a time of the day to start trades (does not matter what time, I have tested this, it still works). Do not trade on Friday’s.

Start up Metatrader (which you can download for free) and Forex Killer 2 (which I guess you bought).

Open one hour charts for all the currency pairs available on Forex Killer (the ones on the drop down menu). Now save all the data from this charts in a given directory.

Load one of them, for example EUR/USD, on Forex Killer 2

Choose the appropriate currency and timeframe (1H) on the drop down menus.

Press calculate and wait until it shows you the results

– This is the important part. You are going to see if the trading signals from short and long term periods match. If they do you, then you are going to look at the probabilities (below the charts) if they are above 70% (just has to be one of them), then you will return to metatrader and look at the daily chart for that currency pair. You will see where the daily chart trend is going (up, down, sideways), if your signal is in the direction of the daily trend, then we take the trade. For that we use the long term stop loss and take profit values. Also remember to set a 35 pip trailing stop for your order.

If any of the above criteria is not met you do not take any trades and load another currency. If you take the trade then set up the trade and return to Forex Killer 2 and continue checking currencies.

Setup as many trades as you find are completely compliant with the above rules.

Let the trades be and check them the next day at the time you designated for this. Do not close any trades until they are closed by one of your preset stops or take profit limits.

Repeat the above process and open orders again. You will hardly ever open more than 4 trades each day, with most of them closing during the first day, all of them on the second day almost all of the time. You will have 7 or 8 trades opened (that is the most I’ve had).

The above has managed to work for me. The system seems to be quit profitable but it required a previously acquired knowledge of the forex market. No new trader could have figured that without considerable training, learning, etc.

Finally, the point you all came to this review for. I do not believe Forex Killer is a scam, neither is it what it advertises. It is definitely not what I expected in terms of the documentation that was provided with it, but I believe that with the above strategy the system has the potential to be very profitable. It is actually, profitable for the people that already have some or a lot of knowledge about forex trading. If you want to try my system do it on a demo account or on a live account with really small lot sizes, remember money management is the corner stone of success in the forex market.

I say it does deliver what it promises in a very shady way. It does not guide traders as they would have expected with a truly lacking, plain, simple instruction booklet that does not tell you anything really useful about how to use this system to trade. But the system is, as I have said, capable of generating consistent profitable signals (although signals would be very difficult to follow accurately with no trading experience).

My recommendation for you is to give it a try if you feel your knowledge on forex is not zero, you have little time for trading and you have realistic financial expectations from the forex market. That said, not thousands a day initially. It also seems to be a great system for busy people, as an example, taking me only a few minutes a day to use. So I hope this review was helpful for the people who bought fxkiller it and don’t know how the heck it is used.

I wish you the best of luck in trading and thanks for reading this very long review. Please check my other reviews on automated trading systems (no affiliate links, I promise !) !

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39 Responses to “Forex Killer Review, an Unbiased Perspective and Strategy”

  1. Recoil says:

    I think the problem with poor documentation is a general one, with many Expert Advisors and trading systems. This may be because of the newness of this sub-industry. For example, I remember when computers and software were quite new (oh to be young again) and the documentation for both were always notoriously horrendous. In fact documentation for many pieces of software are still pretty bad. Documentation obviously is not a focus of the people who invent these systems. As you found, that doesn’t necessarily mean the systems are bad…it is just that the documentation is bad. I am testing PipForia, DoublePlay, and PipCollector at the moment. PipCollector is so simple to use it really doesn’t require much documentation which is fortunate because there is no documentation! DoublePlay’s documentation is very thin. As for PipForia…documentation is very difficult to access because you are referred to the company’s online forums, and you have to dig around for key information, settings, etc. The documentation you are provided with is paper-thin and lacks user-friendliness. With all that said, I think these three systems actually work, but you wouldn’t get that feeling looking at the documentation. Fortunately in the case of DP and PipCollector, their author provides outstanding personal service which makes up for the lack of documentation. Hopefully one day these companies will get the message that poor documentation leads to ineffective utilization by their customers, and will either take the time to write excellent documentation, or hire someone to do it.

    One final comment…I really appreciate your blog, and look at it regularly to see what new insights you have developed. Thank you for taking the time to share your experiences!!

  2. Daniel says:

    Thank you very much for your comment Recoil.

    I do agree with you a 100%. The documentation problem is quiet general and this makes the use of trading systems much harder. Many people regard several good systems as scams because they failed to explain their usage to them. I think documentation is vital for the user. People should realize that.

    I wish you the best of luck then with the experts you are testing and your trading !

  3. Benjamin SC says:

    thank you for sharing how to use Forex Killer. I bought it sometime ago and could not find a good way to take advantage of it. That is severly lacking. Now I have a way to try out.. Tks for sharing…

    I will alos share with you my experience after trying this out.

  4. Benjamin SC says:

    u mentioned u made 55 pips and SL at 35. Did u take the FK recomendation or did u set your own at 55TP, SL 35?

    Thks for the advice

  5. Daniel says:

    Hi Benjamin,

    I took the Stop Loss and Take Profit levels suggested by Forex Killer (for the long term period). On top of that I put in place a 35 pip trailing stop.

    Your welcome,

  6. Che Wan says:

    Thanks very much Daniel…Hope you keep on guiding us about making consistent profits with Forex Killer Software…Thanks a lots…

  7. Che Wan says:

    Daniel, I want to ask you why I can’t trade on friday ? Can trade on everyday except Friday ? Hope to hear from you…

  8. Daniel says:

    Hello Che Wan,

    The problem with trading on Friday is that you risk leaving a position open over the weekend. We always want to avoid this as there can be news over Saturday that affect the direction of currencies so it is always a higher risk to open trades on Friday. Besides, some of the most market moving news are released on Fridays, so we want to avoid them too. Don’t forget to read my other posts on Forex Killer to see how I have changed the strategy over time !

    Thanks for your comments,

  9. tahoemnts says:

    I understand not entering any trades Fri. Have you found an optimal time of the day to attend to your trades? When is the earliest on Sunday to start? Thanks for you info for us newbies. Now i have somewhere to start.

  10. tahoemnts says:

    Where can I find the proper money management to use with FK? Not sure where to start. I was one of those newbies who read the manual with the software and was….huh!?

  11. Che Wan says:

    Daniel can I start trading Forex with only USD100 with Forex Killer Software ? What is your newest way to trade with Forex Killer Software ?
    Any improving way ? Thanks you so much Daniel…

  12. Daniel says:

    Che Wan and Tahoemnts,

    I have found that the best time to enter trades for me is probably 4 hours before New York open at 5 a.m EST when the market is really calm.

    As far as money management, I recommend you trade the minimum amount you can while you get used to the system’s ups and downs. Start with 0,01 lots, then build that amount up when you feel confident, never trade more than 5% of your account margin though.

    And Sure, you could start with one hundred, just keep your lots to 0,01-0,05 while you adjust and feel comfortable.Almost all metatrader brokers allow this lot sizes.

    Again, your welcome,

  13. tahoemnts says:

    Could you explain detail how you determine the direction of daily trend? Do you look at the day before or a MA or what? Thanks.

  14. Daniel says:


    I just look at the last 20 day candlesticks, that pretty much tells me everything about the daily trend. No doubt a 20 period moving average could help new traders or the like. Your welcome.

  15. Pips Rider & Naztreo says:

    Hi Daniel,
    I am very interested to read your review on FK. I am the user of FK too and of course, what you have written is true. FK is not a scam, the only thing is the guideline is too simple. I am using FK with my own strategy to which I called it Forextreme Technique. You can see the result in my blog Don’t worry, this is not promotional blog…we are not selling anything inside. Just to tell others that FK is not a scam but a piece of software that can bring thousand pips a month!

  16. Daniel says:

    Hello Pips rider and Naztreo,

    I applaud your effort to provide and test a useful technique using forex killer. I think all the people that have been using FK that have not been able to be profitable will also thank you a lot. I always like to know other honest people’s systems and web pages.

    Thank you for your comment,

  17. ryan says:

    Hi, my name is Ryan and i just bought FK and am trying to design a profitable strategy and have a couple of questions reliable are the 1 week signals? and 2 how many signals do you find a week on average?

  18. Steve says:


    Thanks for sharing your system with the rest of us. I’m still a little unclear about how you put on the 35 pip trailing stop. Do you put it on at the beginning of the trade (effectively overriding the long term stop loss suggested by Forex Killer)? Or do you put it on later (like after the trade has a 35 pip profit)?

  19. Terry Wyld says:

    Hi Daniel.

    I have left one question already regarding the sell side of Forex-Killer. You say to take trades at 70% + but I never get a sell instruction that is that high?
    Secondly where are you able to use fractional lots. I either have to use 10 on FXCM or down to 1 on Forex Solutions, but their interest charges are crippling.



  20. Daniel says:

    Hi Terry and Steve,

    Well, regarding the trailing stop I put it at the beginning as soon as I enter the trade.

    About the selling orders, if you never get a signal higher than 70% then you don’t take it, that easy, You have to be patient as these signals are rather infrequent.

    About fractional pips, almost any metatrader broker offers them, interbankx, fxdd, to give some examples.

  21. Terry Wyld says:

    Daniel thanks for the response. Is there a scientific reason why the selling pairs are much less frequent and rarely come up as high as buying percentages?

  22. Daniel says:

    Hi Terry,

    The reason why you get low sell probabilities is because you may be looking for signals in currencies that are in strong up trends right now, when the market changes, so will the probabilities.

    I also invite you to look at automated expert advisor trading systems which could result in much better performance than forex killer. Perhaps you may consider the ebook I am offering as a good introduction to this subject.


  23. Terry Wyld says:


    Still no sell instructions over 70%, but it is a very unproductive time. Mind you had I followed my intuition I would have made well on GBP in last 48 hours; trouble was forex-killer did not agree.
    Anyway to further my studies you suggest using the daily charts to gauge the trend. However this can be different over 3 days as opposed to 10 days.
    Over the last how many days do you judge the trend?


  24. Daniel says:

    Hello Terry,

    I evaluate the daily trend over the past 20 candlesticks. You can also use a moving average to help you if they suit your trading style.Always a pleasure to help fellow traders,


  25. Mordor says:


    Thanks for the sharing. I recently bought the fk software and I liked your post. However, I have 3 questions:

    1. Must one get a probability of above 70% in both short and long term signals before trading that currency pair?

    2. Assuming I get a probability of above 70% in both short and long term signals, which one do I use to compare with the daily trend and which signals do I then take: short term or the long term signal?

    3. Can,t I just determine the trend from the metatrader graph window?

    Thank you

  26. mun keng says:

    Hi, i’m a newbie in forex and currently tried your strategy for about 2 weeks. Its working fine with me but i suffered losses too. Its because i entered the trade at the end of the trend. The 1H and daily chart reversed its trend 3 hours later. Is there any way i can avoid such mistake? Keep up the good work. I really appreciate what you are doing.

  27. Daniel says:

    Hello Mun Keng,

    I have been trying a new strategy coupled with the adx indicator to avoid such trades. However, there will always be bad trades, the only thing we want is to have more winners than losers !


  28. mun keng says:

    Sometimes i’m not sure as to enter a trade or not because the daily chart is on a sideway trend or a very weak trends starts to form. I tried to make use of all the criteria you mentioned. But do i need to wait until the daily chart show a strong trend before i enter the trade? Thanks for you opinion!

  29. Daniel says:

    Hello Mun Keng,

    Yes, you need a strong trend on the daily chart, otherwise you are entering less than ideal probability trades. As I have said you need to have about 20 days of uptrend to make it strong enough to ensure low risk. Your welcome.

  30. mun keng says:

    Do you follow any news release before you enter a trade? For me, i don’t have the time to wait for the news to release due to time constraint. Which currency is the best suited for FK software? Thanks alot!

  31. Raju says:

    Hi Daniel:

    Thank you for sharing your strategy using Forex Killer and thanks to Andreas Kirchberger for presenting a tool which one may incorporate in forex trading for profit.

    What factor/s do you consider in your strategy when determining the trend of a pair on the Daily chart? In other words what specifically determines on the Daily chart, if the current daily trend is up or down? Would it be a MA cross, or direction of a single MA to be up, down or horizontal or is it something else? Please clarify. Thanks. – Raju.

  32. Daniel says:

    Hi Raju,

    To be honest with you, I don’t use any indicators to determine the daily trend, I just use the last 20 candlesticks or so. I then look at the candlestick patterns and see if there is a trend or not. But it is not that complicated, It is just a matter of “has it been going up or down constantly”. For example, if the last 20 candlesticks add up to say, 800 pips of positive candles and 100 of negative ones, then you are in an uptrend. I hope this makes the point clearer !


  33. Raju says:

    Thanks Daniel for your prompt response. Trading on a 1H charts with FK may last a while at times. In your opinion what is the best course of action in a situation where one enters a trade earlier with very good signals as per your criteria and after a few hours if it has not stopped out, upon reanalyzing the same pair results in a poor signal. Is it a good idea to stick with the trade as originally planned or should one look to bail? Also, how often do you think is a good idea to analyze the data within given 24 hour day? Do you set times for this process say before each market opens? Thanks again. – Raju

  34. juanche says:

    gracias Daniel

    es una buena estrategia para FK

    la necesitaba

    of 6209836

  35. Anton says:

    O My Gosh

    following your first post, combined with some basic intuition, I manage to cash in 270 Dollars in Profit!

    I invested USD200, and within a day (even less) its USD470!

    thank you for your valuable post

    if you want some prove, ask, and I will post it here.

    waiting for my USD200 withdrawal now..

    I have a question though, is this broker: a scam?

    cheers all

  36. claire pop says:

    Hi Daniel
    Thank You for your unbiased comments, I was thinking about buying the forex killer but as a complete novice knowing zilcho I have thought twice.
    Have you any suggestions how a complete rookie can get up to speed learning the necessary about forex trading then once I have done that I will probably purchase the killer.Thanks again for advice

    Claire pop

  37. Eugene says:

    HI Daniel,

    Thanks for the strategy that you have provided… I am so very new to Forex Trading and was one of those that was caught up by Forex Killer’s promises… Yet your truly clear and helpful directions have made the purchase of this product if not yet profitable cash wise has been a huge learning curve for a newbie like me… Just wanted to say thanks for the refreshing honesty and willingness to help.

    Keep up the research – a lot of newbies like me need your help! Thanks again Eugene

  38. bezoris says:

    Kudos to you for having, as far as I can tell, the ONLY unbiased, unaffiliated FK review/strategy guide!

    I’ve had limited, but generally positive success using FK in a similar fashion to yourself (high probabilities, checking trend). I don’t use it much anymore, having become a more active trader, looking for more signals on an intraday basis.

    I have to say though… the way in which this is marketed is absurd! For one thing, Andreas/Marcus do not exist… they are web video actors, available for hire.

    The lack of documentation is incomprehensible, until you realize that it’s deliberate. As with most MLM companies, there’s always an upsell – in this case a hard sell for roughly $2200 of ‘expert training’ on how to use the software (verify at forexpeacearmy,, etc).

    It’s a shame, as I sense that there is value in FK, if only it were properly supported.

    Any updates on your own experiments? You may be interested in AutoFxK if you’re still using FK (I’m not affiliated in any way with AutoFxK – just came across it on YouTube; from what I can tell, it’s a macro generator for scheduling and automation between Metatrader and FK).

    Best, Chris.

  39. Eddie says:

    Hi, I am just wondering if this is strategy is stil working at current market conditions. I tried this strategy on 4 trades and 3 of them have been step out of position as stop loss was triggered and the remaining one is just barely breakeven at this point.

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