Tuesday, August 11, 2009

Getting Started....

Charts are the most important thing in forex trading, many platform provide free charts and tools but i found out that Meta trader charts provide the best tools and ease of use.

You could download the charts at http://www.metaquotes.net/ for free.

For stocks you could download at www.chartnexus.com it provide 3 years of data for free.

For meta trader the 3 most common tools i use is Fibonacci Retracement, equidistant channel and trendline.

My setting for the Fibo are

0=0
0.236=23.6
0.382=38.2
0.5=50
0.618=61.8
0.764=76.4
1=100
-0.382=138.2
-0.618=161.8
-1=200
-1.618=261.8

Let me know if you need any help in setting up your meta trader.

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