Forex trading platform with new york close charts

Forex trading platform with new york close charts

/08/31 · It is a great platform for just analysis but to execute trades, you need your trading platform. Tradingview makes use of New York close chart and their charts are known to be universal. I hope you enjoyed this lesson and learned something beneficial to your trading knowledge. Comments and questions are very welcome in the comment box below I hope this article now has conveyed to you 1) the New York Daily Forex Close Charts being superior is a myth, and 2) there is a far superior alternative platform for trading then MT4 which also uses the NY 5pm Close should you wish /05/23 · There is actually a big difference in the price feeds that forex brokers are using, with two main charts which we will discuss below: the GMT chart, and the New York Close chart. The FOREX Market and New York Charts. Let me explain. The forex

Differentiating between New York and GMT close brokers. - WeDeyTrade

In order for you to trade Forex, you will need to use a Forex broker, forex trading platform with new york close charts. Provided forex trading platform with new york close charts there are dozens of brokers from which to choose, which one is the best for you? This is an important question as many brokers will offer different spreads, fees ,and charts.

For the purpose of this article, I will focus on the charts and why they are the important component when choosing a broker. The charts represent the daily price action and, depending on the broker you use, forex trading platform with new york close charts, the price action could look different.

Considering our trading method revolves around trading price action, working with charts that have the wrong server time is a sure way to receive misleading information, as server times will reflect on the shapes of the candles. In other words, these charts are the same charts that the agents of the Fed are watching.

We all know that the agents of the Fed are the ones primarily responsible for moving the markets. They conduct their business transaction during normal working hours and watch the screens to find value for the clients and push the market when they see weakness. When these large players hit the markets, they watch the screens to determine the psychology of the buyers and sellers based on technical analysis and price action. Being able to read the language of the markets all starts with having the right charts.

In my opinion, non-New York charts were invented by some brokers to make you lose money, as it will provide misleading price action clues, causing you to place bad trades that end up getting you stopped out. If the above is not enough proof enough, let me further explain that some brokers use six candles instead of five. However, banks and institutions are open Monday through Friday, making the sixth candle yet another misrepresentation of the market.

Depending on the broker, candles will be printed at different times which will affect the shape of the candles. Oftentimes, the market moves heavily during the last few minutes as traders jump into the markets right before it closes. If the market closes on either a high or a low note, this will affect the sentiment of the traders worldwide. The market close describes if the bulls or the bears won the fight, and this information is available to anyone with access to the proper charts.

What we really need are the five-day New York Close charts ; these represent what is really happening in the markets and only with these can we properly see the same charts that the agents of the Fed are watching.

Here is an example of two different Forex brokers with different server times. This first broker is a six-day non-New York Close, forex trading platform with new york close charts.

I have circled the sixth Sunday trading bar that shows erroneous price action signals and which is, therefore, totally unnecessary. This chart was taken at the same time as the one above. The difference is that you can see that this one printed a pin bar while the one above did not. One could have easily missed out on a good trade setup in the first one. The chart below is of the same type that the agents see and use every day. If you are seeing what they see, trade opportunities become much more apparent.

These two charts show us the same currency pair on the same time frame at the same day of the year, however they show us totally different price action. With the first, a trader can miss out on forex trading platform with new york close charts trading opportunities. Skip to content In order for you to trade Forex, you will need to use a Forex broker. Let me explain further why you need New York close charts….

Here is the evidence that you need to see If the above is not enough proof enough, let me further explain that some brokers use six candles instead of five.

I TESTED New York Breakout Strategy 100 TIMES with $100 - Forex Scalping Strategy -FROM A SUBSCRIBER

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New York Close Charts [GMT+3]

/08/08 · Since you then said who will accept US clients, FXCM and Oanda would be your best options or a few offshore bucket shops if you look around. Yes all brokers that have +3 currently offer NY close charts how could they not be if that is the time zone. Post /05/23 · There is actually a big difference in the price feeds that forex brokers are using, with two main charts which we will discuss below: the GMT chart, and the New York Close chart. The FOREX Market and New York Charts. Let me explain. The forex /10/09 · The first is a GMT close. This is the most common type of chart and is available at just about every major Forex broker in existence. The second, less common type of chart is the New York close. As you can tell by the name, these charts use the New York close (5pm EST)