I’m using trading station 2 on fxcm. It allows me watching markets at work if I find a minute and has NY close, what’s odd, the same account via MT4 uses midnight ET as close…
I don’t like MT4 as it looks like it was a really old software with some really old user interface design, and not being able to place trades from charts is a vital con for me, I just hate entering stops and TPs manually or even being unable to place TP while placing an entry order and need to add it when your limit order gets hit, I can’t afford it as I don’t have time to amend it after setting up a trade.
How do you cope with all of it??
Edit: and scrolling with mouse wheel instead of zooming! Oh I hate it! Lol
I noted the zones rather than lines, that’s why I’ve few levels… However, it must have certain criterion to say that resistance line is valid or not. It is just like how Johnathon define pin bar here: Pin Bar.
Now I’m confused… First time I hear it… Why can’t u set your T/P and S/L before u enter the trade? Just place the sell/buy stop or sell/buy limit orders and at the same time u can set your profit and loss targets. And it is possible to place the order from chart, just press the “new order” button and it’s done.
Maybe I didn’t understand u well, but MT4 for me is very simple software and easy to manage the trade if needed.
you can also place the mouse where you want to enter and right click, in the trading heading it will give you a buy or sell option at the price where the mouse is located. if you select it will open the order window with that price already entered and you can then enter s/l and t/p
also when you press the middle button of the mouse aka the scroll wheel, the cross hair tool is selected. but if you then press and hold the left mouse button and drag the mouse it will draw a line and give you the coordinates in number of bars, pips, and exact price of the distance from the point you pressed and held the mouse button to wherever you drag the mouse to. an easy way to check distances in candlesticks, pips and price
There is some traffic just below it and the candle isnt’t that convincing compairing to the previous huge bullish momentum, altho overall trend is bearish. And I don’t understand u guys, why do u always enter before the bar is closed and then broken, so it would confirm the entry?
European Central Bank President Mario Draghi signaled that officials are prepared to do whatever is needed to preserve the euro and act on surging bond yields that are tearing at the seams of the 17-nation currency bloc.
Yes, I was long on AUDJPY & NZDUSD. Both of them have hit my take profit level.
Also PB of 23-July has fully hit my take profit level of $1620. :8: :8:
You can pretty much do all of that above. You can set profits before the trade is hit etc It doesn’t matter what charting gear you use though as long as looking at correct charts.
Yep pretty much. So for these bearish examples we would need price to close below the resistance area. If price closes above we would be trading straight into a key level which is not the smartest.