Prime-Line™ Forex Trading
July 26, 2003
In this example we'll look at trading Forex currency pairs with Prime-Line™. We'll also preview our new ViaForex interface that downloads free Forex data from the Internet.
Equity and futures traders considering Forex will discover good reasons why it is being billed as the ideal market for active traders:
Zero Commissions and No Exchange Fees
24 Hour Live, Liquid Trading Market
Firm Prices And Instantaneous Fills From Streaming Prices
Guaranteed Fills On Stop and Limit Orders
Free Dealing Trade Stations and Demo Accounts
Currency markets tend to exhibit more noise, especially at the close-in intraday time frames. Despite this, Prime-Line works exceptionally well to define the price-time structure for these markets. The bottom line for Forex traders is control in the form of better entries, less risk, and bigger profits.
The daily chart below of the British Pound Sterling GBP shows this weeks price action. Point A was a Prime-Line Buy ControlPoint™, point B is current support, and point C is the profit target.
Forex offers substantially higher leverage than futures trading with some firms offering 200:1. A move from A to C represents about $6000. High leverage incurs high risk and Forex volatility demands exceptional market timing to survive.
Three Prime-Line™ Forex market timing packages are now available; Wave59 With Prime-Line™, Market Wiz™ and Auto-Prime-Line™ for TradeStation. Click Here for more information.
ViaForex™, our new data utility downloads free accurate real-time Forex data from reliable Internet sources. Choose from automatic intraday updates at user selected intervals or manual updating to keep charts current. Click Here for more information.
From the Currency Pair pull down menu select the markets to update. These show in Update List. Click on the folder icon to select the data directory or type in the path in the Data Directory box. For manual update click the Manual Update button. For automatic timed updates, type in update interval in seconds, and click Start Update button. Data is automatically updated at selected interval.
For a limited time, ViaForex™ is bundled free with the Market Wiz™ software.
ControlPoint™ setups show up every day in all markets and in all time frames.
Good trading, and stay tuned...
Stocks, ETF's, Option trading | Forex trading | Commodity and Futures trading | Day trading | Swing Trading | Investing |
