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Charting Software
In recent years all online brokers have begun to offer their
own free charting
software built into their trading platform to study the
movements of a currency
pair, some are good and some leave a lot to be desired. For
many years I have
used the same broker through Meta Trader 4 charting platform.
Meta Trader 4 (or MT4 for short) is used by hundreds of
forex brokers, it allows
you to access your broker account right from the platform
making it easy for you
to adjust and track open positions as well as plotting
currency movements on
multiple charts. Meta Trader 4 also allows you to use custom
indicators and
alerts, giving you more freedom to do things you enjoy and
leaving Meta Trader
to alert you when a trade setup occurs. Another great
feature of MT4 is if you
have a smart phone you can download the platform onto your
mobile phone
allowing you to check trades and adjust positions on the go,
sometimes vital for
a trader on the go.
I use Interbankfx.com as my
broker through the MT4 platform. They have been
very reliable for me using the trading techniques presented
in this manual.
No matter which broker you
choose you will find someone who claims “they are
not an honest broker,” this is simply due to the fact that
when people loose at
forex (especially newbie's) they naturally must find
something to blame it on.
In my experience if you are trading 4 hour charts and above,
you have far less to
worry about. Traders trying to scalp the forex market on the
1 minute charts are
the ones who tend to get the bad end of the stick very often
due to the nature of
their rapid buying and selling of currencies. |
