I am working my way through the school, which is excellent! I am finding that it is all double-dutch, until I read it again and slowly, some things are starting to make sense. My question is that I would love to try the charting methods out, but really don’t have a clue how to. Where do I get charts from? Will they all show the Moving averages and Fibonacci etc? I have a free charts app, but when I click on a low and then a high, all I get is a circle in the middle. So are there any ‘charts for idiots’? which explain where to find all these tools that I have been learning about? I apologise in advance if this has been asked before (or a hundred times before!) and I did do a search, but to no avail. So any advice would be most appreciated.
Thank you for your response eddieb. I have now opened a demo account, and have been playing! It has made me realise how far I still have to go to start making sense of it. And the demo account is only for two weeks - how can anyone completely new to this be ready for a live account after two weeks?! Looks like I may be opening several to get the hang of things. Thanks again
charts tell you about trading movement its ups and downs about any currency pair . With charts its easy to define trend for a trader to decide about open any position in market. Charts are important for analysis making.
Yes opening a demo account is best since you get hands-on experience without any risk. Learning about technical analysis in the school is useful but when you use what you learn in the live market, it begins to make a lot more sense. I opened a demo account with FXCM using the MT4 platform since I found that this is popular with other traders but I plan on opening more accounts with different platforms to see what works best for me.
As for the chart, the default chart is a regular line chart with no indicators so you must add the MAs, Fib, etc. Exactly what you want in your chart is up to you and it takes time to see what works best for you. In the MT4 platform, there is an extensive help menu for anything that you need including how to add indicators and what the indicators measure.
You may be interested to know that the login details for your MT4 demo account with FXCM will also give you access to the desktop, web and mobile versions of our Trading Station platform.
If you have any questions about your demo, please feel free to ask me in the Broker Aid Station section of this forum.
Some brokers offer fairly,a much longer time frame for demo accounts,but since demo accounts cant last for years it would make sense if you open several others after they are closed,
