Thanks to Babypips,I am moving forward in doing my demo trading and have set my goals and target plan. The book “Trading for a Living” is awesome and depicted a lot of “sound” trading. In any case, I’m using FXCM as my scapegoat for learning curve, however the software that I downloaded does not allow me to create a 1 hour chart and so forth… I need to go outside of the software to http://www.dailyfx.com and create my 1 hour, 2 hour etc… if I were to go to live trading in the near future, do I need to buy extra trading chart packages like eSignal, or the free charting software on dailyfx is enough…and advice would be great!
I use FXCM every day for my paper trading and their free “fx power charts” is great. They allow you all the timeframes and many indicators. You can see more than one chart at the time and these can either be set for the same pair but different time frames, or for different pairs.
I have several charts set up under the AM button for the best pairs to trade in my morning - with all their indicators, and several under the PM button for the best pairs to trade in my afternoon, also with all their indicators.
I can save all trend lines in any chart as I move around or until the next day if I wish.
I just go to FXCM every morning, click on “Access live charts” and they are all there waiting for me, complete with indicators and any saved trend lines.
If you are using FXCM trading platform anyway, I recommend you try it and I hope it helps.
That depends on which broker you choose. I chose Oanda and I am happy with their charts despite them not having a 240min (4hour) chart There are many FREE charting services that you can use while still placing your orders with whoever your broker is.
I also use FXCM demo platform. I got charts access by click on pluggin button on top of the platform, but I don’t know what kind of charts they are, seems not to be fx power chart that you talked about. I know that FXCM has several options for charting, but I don’t understand how to make use of them. I mean when I go trading, I just click on the FX Trading Station software icon on my PC and then it’ll bring me to the platform. So I’m not on the FXCM site. How to access the fx power from the platform?
Cause right now I can’t save all the charts that I’m working on, so thats really time consuming, because everytime I restart opening the station I have to creat my charts again.
Please explain to me step by step, cause to be honest, I’m a dummy in this matter.:eek:
Thanks so much
There are many FREE charting services that you can use while still placing your orders with whoever your broker is.