The Importance of Real-Time Forex Trading

By: Terry Allen

You are well advised to select a broker who can provide you with first class streaming news, market commentary, real-time charting and live forex rates through a well designed trading station. This is because these features will enable you to react immediately to all market developments as they unfold. As such, there will be no need for you to wait until the markets open before taking appropriate action.

In addition, you will be able to see the value of all your positions respond to market events in real time. This key information for your account is actually re-calculated and updated every time the exchange rates change. You will have immediate access to detailed information regarding every open position, open order, and the generated profit or loss per trade. This means that you will never have to approximate account equity or be uncertain in regards to available margin. Ideally, you should attempt to obtain access to the same quality of alerts and analysis used by specialists in the top institutional trading rooms.

You will also benefit greatly if your broker can provide you with 24-hour streaming news and expert commentary from Forex specialists talking in trading rooms around the world. You will then be able to track major political, economic, and market events globally. This quality of information will provide you with instant live information that you will need to enable you to judge the direction of the market and make informed decisions about your trades.

Also, seek a broker who can allow you to trade using live charts as you will find this option to be of enormous value. Such a facility should allow you to trade directly from charts of interested currency pairs. You should be able to save your all your work from charts, multiple layouts and templates. Your charting package should allow you to analyze your trades using techniques such as Fibonacci lines, pivot point and the most popular technical indicators such as EMA, Stochastic.

By providing you with professional live charts, your broker is allowing you to trade directly from its charts enabling you the opportunity to identify future markets trends by providing you with a visual representation of all your trades and orders. In addition, you will be able to fully customize your chart analysis, alerts, workspaces and indicators to optimize your trading experience. Live charts can also allow you access to professional quality drawing tools and the ability to share workspaces with family and friends.