MT4 is quite a good charting program
I have been playing with MT4 charts for about a month now. You can download them for free from www.metaquotes.net/downloads. What I really like about MT4 charts is that their indicators and settings are very user friendly and you can find a list of hundreds of different indicators online, just google “mt4 indicators”. Now, I do not want to overload all you new forex traders out there!! But here is a little secret about MT4 and an easy trade: MT4 has a chart for the dow index, the US stock index. And, the USDJPY currency pair very often will follow the dow movements during the US New York session. So, for a short time frame intraday strategy for USDJPY, I like to use the 5 or 15minute chart for the dow next to the USDJPY chart. In fact, before the New York session opens I will check to see what the dow futures are, are they very much in positive or negative territory, or are they near 0? This information can give me a bias as to which direction the USDJPY pair might go. If you would like to try this trade, I highly recommend trading only in a demo account first to see how the USDJPY does follow the dow movements.
December 24th, 2007 at 9:47 am
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