If you have just recently encountered Forex as one of the best online investment that could provide you huge profit in return then there are a few requirements that you need to know about regarding the tools that are to be used and the capability of your computer.
Let’s start with the discussion about the software tools.
After you have found a reliable FX Broker they are going to provide you their Deal Station software. This is also known as the “Trade Station” or “Trading Terminal”.
Let’s start with the discussion about the software tools.
After you have found a reliable FX Broker they are going to provide you their Deal Station software. This is also known as the “Trade Station” or “Trading Terminal”.
The use of this software allows you to have an access with the currency pairs and place your trades.
Other details are also provided such as the Dealing Rates, Open Trades, Entry Orders, Account Balance, News and etc… The more information that they could provide means the better.
Most Deal Stations offers you the charting platform and the most popular among them is the Meta Trader 4 or more commonly known as the “MT4” for short.
Most Deal Stations offers you the charting platform and the most popular among them is the Meta Trader 4 or more commonly known as the “MT4” for short.
You can download this Trading Terminal for free and it is popularly shared on most Forex related websites.
The Charting Platform of your Trade Station should consist of various sets of technical indicator tools and provides you multiple different time frames.
The Charting Platform of your Trade Station should consist of various sets of technical indicator tools and provides you multiple different time frames.
The most common time frames used are the 1, 5, 10, 15, 30, minutes, 1 hour, 4 hour, Daily, Weekly and Monthly.
Take note that some traders will only use a certain range of time frames to base their analysis and speculations.
The Computer Requirements
You won’t be able to perform your trading activity if you do not have your own personal computer and it is a must requirement.
The Computer Requirements
You won’t be able to perform your trading activity if you do not have your own personal computer and it is a must requirement.
Anyway, your computer should be fast with a processor of Pentium 3 or higher. Lower than what is mentioned here will still allow you to install and use the Trading Terminal but you will be experiencing lags and delays on placing your trades.
The minimum required RAM should be 256 Mb but there are still some instances where your computer goes slow and these are due to some malicious files that might have infected the system.
The minimum required RAM should be 256 Mb but there are still some instances where your computer goes slow and these are due to some malicious files that might have infected the system.
Therefore, it is recommended to increase your computer’s RAM to avoid such problem.
Having huge or dual type of monitor screen is just optional where an ordinary type works just fine.
Having huge or dual type of monitor screen is just optional where an ordinary type works just fine.
However, the use of huge screen or dual monitors provides you an additional advantage on trying to keep an eye on your multiple charts.
Fast internet connection is also recommended where you have to subscribe on those Broadband or ADSL services.
Fast internet connection is also recommended where you have to subscribe on those Broadband or ADSL services.
Dial-up connections might also be good but there are some situations where the connection goes unstable.
You should only use those Windows Operating systems such as the Windows 2000, XP, 7 and etc… because most of the software offered only works on this OS.
Moreover, if you have not yet found any Forex broker that you wish to invest your capital then there are a few important things that you should need to consider.
You should only use those Windows Operating systems such as the Windows 2000, XP, 7 and etc… because most of the software offered only works on this OS.
Moreover, if you have not yet found any Forex broker that you wish to invest your capital then there are a few important things that you should need to consider.
Honesty and Reliability are the two most important factors that you need to know about. The forums and blogs are the good places to check the reputation of the Broker that you intend to join.
Try and ask those individuals who are using their services whether they are fully satisfied or disappointed.
The Security of your information must not be shared from any third parties of your Broker.
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| Meta Trader Email Settings |
The Security of your information must not be shared from any third parties of your Broker.
If they do, you will be surprised to receive an email-spam and you might even receive anonymous calls offering you their products.
Accurate Order Execution is very important because every pips count. You can check the accuracy of any broker’s Order Execution with their Demo or Virtual Account.
Accurate Order Execution is very important because every pips count. You can check the accuracy of any broker’s Order Execution with their Demo or Virtual Account.
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