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Sunday, April 23, 2006

5 Trading Tools Not Available in Other Forex Trading Platforms

1) Volume Profile Charts - Advanced Charting that shows you the Open / High / Low / Close but more importantly where all the trading activity takes place. This shows you REAL support and resistance areas to buy and short and exit trades. Why do so many traders lose money trading? Human emotion! Here's what often happens. Many traders enter positions in a certain direction, they are wrong and it goes against them. They sit and wait and sweat as they are losing money, sometimes a LOT of money. Many exit with losses. Others hold on tight and hope the market reverses. When it often does and comes back to the area they placed their trades they are so relieved to get out with a small loss or breakeven they almost always exit. This causes the market to stall at this level at the least and usually reverse. These areas are often the lowest risk and highest probability trades! Without Volume Profile charts you are really trading blind.

http://www.topgunsoftware.com/forextrading.html

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