Forex trading platform and forex charting software in the world. As anyone metatrader 5emas forex system opinions has followed me for a while knows, I trade and recommend New York close 5-day per week charts. The reason is that closing prices are the most important in the markets, and the New York close marks the end of the current Forex trading day and then the new day starts in Asia. Your charts will probably be black and green however, with a bunch of indicators all over them.
We will discuss how to get your charts setup with a white background for clean price action forex trading in the next section. The market watch window lists all the markets available from your broker and gives you their real-time bid and ask prices. I don’t really use this but thought I’d just tell you what it’s for real quick. To see which currency pairs I prefer to trade as well as an example of how you might want to populate your market watch window, check out my article on the best forex pairs to trade. Finally, the terminal window appears at the bottom of the screen and within it you’ll find these six tabs: Trade, Account History, News, Alerts, Mailbox, and Journal. You can go through each tab to get familiar with what it does. Next, we need to get our charts setup for optimal price action trading.
I personally prefer a white background and black foreground for the cleanest and simplest approach. There are three main ways to open a chart window on the platform. Once you’ve got your desired chart open, you want to get it setup for clean price action trading. You can also change the chart to bar, candlestick or line chart in the common tab. It’s pretty self explanatory so play around with it a bit to get more familiar with the options.