In my personal view, any trader which want to be succesfull must have the right tools. Even if you are a talented trader, without the right tools you will not succeed. Trading is like any other high performance activity be it sport or job. A talented tennisman can not succeed if does not have the right tennisracket. A Formula 1 pilot can not succeed without a performant car even if he is a very talented and hard working pilot.

The first tool of a trader is the chart. You need to have the right charting. Most of the brokers and especialy the MT4 brokers does not provide you with the right charting, with proffesional grade-industry standard charting.

Bellow we have an EURUSD daily chart provided by Netdania which is an industry standard chart and the same EURUSD daily chart provided by Oanda. Even if I consider Oanda one of the best brokers overall, Oanda does not provide the right charting. You can also check your daily charts offered by your broker and compare it with the Netdania charts.

In the first pic bellow we can see that with the right charting the 100 and 200 SMA have provided suport and in Oanda chart this suport is not clear anymore.

You can find the Netdania charts here:

http://www.fxstreet.com/rates-charts/forex-charts/

Views: 367

Tags: charting, charts, euro, eursusd, fx, usd

Comment by Pip Logic on December 8, 2013 at 7:54am

I don't see an MT4 chart here

Comment by Pip Logic on December 8, 2013 at 8:10am

I will need to post a video about this issue, but for now notice the how Netdania got the plot.

 "professional grade-industry standard charting" ???????

Comment by Pip Logic on December 8, 2013 at 8:10am

Comment by Pip Logic on December 8, 2013 at 8:12am

MT4 lets you trade on the chart, Scripts............

Comment by Pip Logic on December 8, 2013 at 8:13am

There are no "secrets" in trading no that the web is here

Comment by Daologic on December 8, 2013 at 11:25am

PipLogic, the post is intended to highlight the differences between charting.

Bellow we have AUDUSD Netdania and MT4. The difference is evident:

Below is USDCAD Netdania and MT4:

Comment by Pip Logic on December 8, 2013 at 1:25pm

I love trading and charting, so let us here, ok that is an MT4 chart, and the broke is who? so I can see this for myself.

Here is FXGlory's MT4 100, 200 SMA on close:

Comment by Oasis on December 8, 2013 at 1:31pm

Pretty identical - Vantage FX

Comment by Pip Logic on December 8, 2013 at 1:33pm

I see the problem, your MT4 broker is plotting 6 days per week

Comment by Pip Logic on December 8, 2013 at 1:40pm

Great for breakout traders, and morning stars & abandoned babies, (not that anyone should abandon their baby or leave it in the car)

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