The first thing you need to do is get set up with the right equipment in order to begin your training. In order to trade you need to have a broker and a charting platform. If you already have one you are more than welcome to use it. There are so many brokers out there, and finding a quality broker can be a difficult task. Talk to your Team Leader to find out which broker they are using. The advantage of using the same broker has many benefits especially when it comes to sharing opportunities based on price action setups.
We are continuously researching brokers to find ones that will support us and stand the test of time. Tight spreads are great but it shouldn’t come with hidden costs. You can find the brokers we have done the due diligence on and use in the Recommended Brokers Course, and there you can set up a Demo Account for MT4. You can use another platform if you wish, but the templates provided in the strategy details are for the MT4 platform. MT4 is a very simple to use comprehensive charting package with a lot of functionality. If you have a broker you are interested in let us know and we can help you verify they are a quality broker and not some bucket shop after your money.
New York Close 5 Day Charts
Forex isn’t centralized like other markets and there is no official open and close time. This means that brokers’ charts can be very different depending on which data they use. Since we are technical traders, charts and price data is critical. One daily chart can look completely different from another one because of the data the broker is using, even though the price is the same!
New York Close 5 Day Charts give an accurate representation in the price action throughout the day and week as they start and end in the order that the markets open and close. This is so crucial for trading price action. The charts open at the beginning of the week with the Asian session in New Zealand which is the first market to open and then close in New York, repeating each day for daily candles.
Watch out for 6 Day Charts
Stay away from charts with strange gaps, small inside bars and out of place looking small candles. Chances are these are 6 Day Charts with the sixth day not being created with a full trading day. Brokers choose the data and times they give their charts. You cannot change the makeup of the candles or when they close on Metatrader. If they don’t close at the New York Close then they are not New York Close Charts period.
Goofy Chart Brokers: Tallinex