Pure Price Action For Dummies

Using charts for our trading needs is very important as it gives us a market information and perspective which if we are able to use correctly would translate into additional profits for us :slight_smile:

Just to be clear, I do use charts, I just meant that I donā€™t use the charts provided by my broker.

If I may ask, where do you get your charts from then if you you donā€™t use a brokers feed?

Absolutely you may ask, yes. I get my charting from eSignal. I use my broker purely for trade execution.

OK! So I see this company sells advanced get. A forex educator was trying to convince me that to be successful and make money in forex I would have to spend the money on Advanced Getā€¦right after I forked out Ā£6k for his system.

Iā€™m sorry, I donā€™t understand your point and I donā€™t know what Advanced Get is. Iā€™m not selling anything, I donā€™t have a system for sale and I am not a ā€˜forex educatorā€™. I just answered a question.

Why are so many posts on this site either cryptic or confrontational, these days?

Neither do I.

Thatā€™s no surprise Nikita. Iā€™ve been thinking for long enough that you trade with a crystal ballā€¦:18::smiley:

the same company that makes esignals makes another piece of software called advanced get. Iā€™m not entirely sure how my post was cryptic or confrontational. I didnā€™t ask for a system nor did I label you a ā€œforex educatorā€.

Cryptic in that it made no sense, confrontational in that it implied a slightly random negative surrounding eSignal when I was simply answering someone elseā€™s question. It was you who mentioned forex educators and systems, I just didnā€™t understand it, or why you quoted my post. Itā€™s fine, we donā€™t all need to understand one another around here.

I thought you guys trade directly off the brokerā€™s chartā€™sā€¦ Whatā€™s this e signal about ? Why donā€™t we use the brokers charts ?

Iā€™m here on babypips to learn about forex, not get into arguments, so itā€™s my interest to understand everyone. There is no need to respond to my message as this conversation has clearly strayed from the thread topic.

A few posters in this thread are clearly confused so maybe you could directly address them? I think we could all learn something from the pros about broker charts and esignals

Iā€™ll attempt to reply to this since I may have found the answer. I havenā€™t had a chance to read all of this but will do later.

I know discussing esignal maybe going a bit off the thread but as charting is the ā€˜Bibleā€™ of reading PA I think the diversion is completely justified.

The real question is whether an independent feed for charts makes that much difference for reading PA. I have 4 brokers I look at for charting and apart from TFā€™s of H4 and above, they all give the same reading.

Does esignal (or any other for that matter) actually give a better insight or make PA any clearer than what you receive from a broker. All the bells, whistles and indicators can be found on any MT4 with any broker so that is no advantage. Not that it makes a difference as the way that we should be trading is without all the bells and whistles anyway.

Iā€™d be glad to hear from others who have traded PA using both a broker and an independent source to know if it is worth the investment.

Thanks,

Or maybe youā€™re just here to prove how clever you are? Youā€™re certainly wonderful at forum research and multi-quoting. Communication skillsā€¦not so much. Ftr I still donā€™t understand your original post about the $6000 fee.

To others who have asked, eSignal is a charting package, quotes currencies, stocks, commodities etc. It costs me around Ā£100 a month, it has never crashed or jammed in three years, itā€™s fast, intuitive and ultimately very easy to customise. I can get the charts looking just how I like them, save my settings, show several timeframes simultaneously, it gives me all I need. As the only business overhead (Iā€™d have a computer and Internet anyway!) the cost seems reasonable to me. Itā€™s less than my SL on an individual trade each month - obviously the cost seems more or less worthwhile depending on our own trading experience. I trade for a living so I just want a top package.

In terms of comparison with broker feeds - erinsunc, I know that you asked that - I have only ever been with one broker as I, very happy with them - slippage once in over three years! - and eSignal is streets ahead of their charting. It is better than other packages I have seen others using, but my main experience is just eSignal and one broker feed.

I donā€™t need it to trade - a chart is a chart - but it suits me so well and is so flexible that it is worth the cost to me. After all, I do this for a living and donā€™t need to fund premises, staff, consumables etc.

I hope that helps and Niki, sorry if the to-and-fro detracted. Happy for people to PM me if they wish, or ask me stuff here if Niki thinks it relevant. I donā€™t have my own thread as this place isnā€™t worth the grief, these days!

ST

And ftr itā€™s pretty stalkerish to search my old posts and then presume to post them on here en masse as some answer to a current question, either answer stuff yourself or let others speak for themselves or youā€™ll find yourself struggling to make friends around here. Particularly if you havenā€™t even read them - hardly a great contribution to the learning experience.

I trade of a brokers chart, just not my own broker. E signal? Dont know what hat is.

I donā€™t know if Iā€™m allowed to post this so apologies if not, but for anyone interested this is their website:

www.esignal.com

HI.I tried to follow things thats on this thread,but not doing to well.Is It only me or more the political scenario.Maybe things changed since the start of the thread?

stefan relax and enjoy the thread. I think there was a misunderstanding here. It happens.

As far as charting I used to used many different broker feeds and all are different in terms of price. I have found since switching to FXCM that there charts and acceptable to me and I have only been using the tradestation charts. I will say though that charting feeds do make a world of difference when reading price action. Preference plays a huge role here but the feed itself is very important. Such as when looking at the daily a 5 candle week IMO is very important. Also a couple pip difference in feeds can make a difference when reading candles on smaller time frames. How much of a difference depends but it can make a difference.

I have played around with esignal a time or 2 with there free promotions for I think 30 days or something like that. It is nice. If it is worth the price honestly I do not have enough experience with them to comment. Again preference goes a long way. Just like paying to learn forex some feel its worth the money and some feel its a waste since everything you need is right at your finger tips.

Anyhow I will quit my pointless post here I just wanted to state my opinion on charting feeds. It is a very valid topic on price action IMO.