My Forex Times

Free Forex Software - MetaTrader

2008-11-16T23:01:00.000-08:00

MetaTrader has been created to provide trade operations and technical analysis in real time mode, when working at Forex.

MetaTrader key features:
• Working with securities of Forex, Futures and CFD markets
• Various execution technologies: Instant Execution, Request Execution, Market Execution
• Confidentiality of all trading operations
• Unlimited charts quantity
• Support of various timeframes (from minutes up to months)
• Large number of technical indicators and line studies
• Experts, Custom Indicators and Scripts
• MultiLanguage program interface
• Signals of system and trading actions
• Getting on-line news from financial markets
• Internal e-mail system
• Printing charts and completed trading transactions statements

Multicurrency
The system is designed on a multicurrency basis. It means that any currency can serve as a general currency used in the operation of the whole complex in any country and with any national currency.

API
MetaTrader Server API makes it possible to customize the work of platform to meet your requirements. API can solve a wide range of problems:
• Creating additional analyzers for finding a trend of monthly increase of traders
• Creating applications of integration into other systems
• Extending the functionality of the server
• Implementing its own system work control mechanisms

You can download it for free here

Also read about other forex platforms

Related: forex tips

Forex Terms - What is Awesome Indicator?

2008-11-16T22:47:00.000-08:00

Awesome Indicator is one of the most powerful indicators you can use. It is very reliable and very intuitive even if you have never seen it before. There are plenty of charting packages that offer the awesome indicator.

Metatrader is another charting platform that comes with the Awesome indicator. This is a free trading platform and you can download it here.

What is a Forex Trendline?

2008-11-16T22:41:00.000-08:00

Trendlines are one of the most simple and powerful tools to analyse Forex Markets. They are constructed by connecting a series of peaks and troughs. We may have uptrends, when we have continuously higher highs and higher lows; and downtrends, when we have continuously lower highs and lower lows.

Sometimes, it is possible to draw another line – parallel to the trendline – forming an uptrend channel, or a downtrend channel.

You can draw trendlines in any timeframe you want. But like other patterns, the trendlines are more reliable when they are drawn in longer timeframes.

Related: forex overview

What are the best hours to Trade Forex?

2008-11-16T22:21:00.000-08:00

Since the Forex market is open 24 hours a day, a trader can’t track every single market movement. It’s important as a trader to know when you can expect high instability so that you can implement strategies.

Asia Period (7PM - 4AM EST) – During this period, you can successfully day trade especially if you trade the Japanese Yen. USD/JPY is a good choice if you plan to trade on this session. This period is not as unstable as the US or the European periods, but it’s possible to trade it and achieve a good performance.

European Period (2AM – 12PM EST) – This is a great period to trade Forex. Most of the large banks are located in London, so the majority of major Forex transactions are completed during this session. During this period you can implement a successful strategy on any currency pair.

U.S. Period (8AM – 5PM EST) – This is another great period to implement your Forex strategies. Instability is high and you can expect good volatility on any currency pair.

Putting it togeather...

Between 8AM and 12PM EST we have the U.S. and the European sessions at the same time. This is the best time of the day to trade Forex. Instability is good in all currency pairs. Some of the most important economic releases occur during this period, and this brings good opportunities to Forex traders on most days.

Related: Forex Trading