Listed below is a collection of Recommened & Free Resources related to Forex Trading in general. Feel free to explore and download them for your FX trading purposes.
Non US Brokers With MT4 Platform
The disadvantage of using a US based broker is that regulatory agencies in the US does not allow hedging and there are also reports that the "Leverage" ratio allowed might also be capped at a max of 1:10, meaning that retail traders like us have to fork out more capital to trade, and that's definately not a piece of good news.
And looking at the way the US economy is heading, the value of the US Dollar have a pretty high chance of diminishing in value in the long run, meaning that when the time comes in the future that we need to withdraw our funds and convert it back to our local currency, it might depreciate by a lot, thus eroding all our hard earned profits gained from trading.
Perhaps, its a good time to initially switch to a Non US Based Forex Broker where you can fund your account in other currencies.
On top of that, there are also certain advantages of using Forex Brokers with MT4 capablilites. Other than the ability to utilize customised 3rd party indicators, users are also able to run Expert Advisors(EA) or Automated Trading Robots to trade on their behalf, a function other proprietary trading plateforms does not allow.
The FX Broker that I am currently using and highly recommend is FX Primus Broker.
In my opnion, the best thing about them is that they are NOT a Market Maker and utilizes Straight Through Processing. They do not have a dealing desk that trades internally against their own clients.
You can find out more about the advantges of their services over other Forex Brokers in a step by step table comparison format here.
Do do check them out, you can download a FREE Demo Account, and even get a 50% trading bonus, while stock lasts.
Useful MT4 Indicators
- Support & Resistance
- Bar Countdown Timer
- Color Trendline On Price
- Candlestick Pattern Recognition
- Daily Fibo Levels
- Shows the previous levels of support and resistance.
- Shows the time remaining for the current price bar.
- Shows the intermediate color coded price trend.
- Shows the candlestick pattern that price is currently exhibiting.
- Shows the daily Fibonacci levels.
Trading Related E-Books
- 7 Habits Of A Successful Trader
- Candlesticks For Support And Resistance
- The Original Turtle Trading Rules
- The Six Forces Of Forex
FX Trading Time Zones
Here in Singapore, our forex trading time zone starts from 6 AM Monday morning to 6AM Saturday morning, 24 Hours a day, 5 days a week (see diagram below for better visualization).
Financial Goal Planner
Curious to find out how long it would take to reach your financial goals with your current Forex trading stratgey?
Simply key in your personalized trading preference and trading data into the attached spreadsheet to find out! ( Excel Format )
(Click here to download)
