1. Our Top 10 Forex Trading
Tools & Tips
Produced by
Here are the Top 10 Forex Trading Tools we could not do
without. The tips are there so you can better understand and
implement the tools you feel would also suit you...

2. A Meta Trader 4 (MT4) Trading Account
The undisputed king of charts and best of all...
• It’s FREE and
• It’s supported by almost all brokers of reputation
GKFX have highly competitive spreads and excellent customer
support. Most importantly they are also well regulated.
MT4 Demo accounts provide a learning platform,
whether you are new to trading or just want to try out a
new strategy. With a Demo account you cannot lose
any real money.
Only when you are comfortable and ready to risk real
money should you open a Live MT4 account. If you
wish to use GKFX you can open an account here.

3. When first starting off you may think an
additional monitor is just for show offs.
However, it is something most serious
traders cannot do without.
A laptop and ONE additional monitor is plenty. You do not
need 3 monitors, splitting hardware, splitting software, etc.
3 monitors (or more) ARE for show offs!
An Additional
Monitor
An Additional Monitor
Even if you just want to watch the markets and check emails, book
some flights, etc. It really is a must have.

4. The Forex Live News Calendar is as good as any with its
many filters and options, including a handy desktop
widget. It is worth spending 10 minutes at the
beginning of each week putting key events into an
electronic calendar. Set it up so you are alerted
electronically 15 minutes before the actual key events.
Economic Calendar
If you are trading intraday then you really
should be aware of upcoming economic
news in the next 24 hours.
Many of the top news events, Non-Farm Payrolls, Interest rates, for
example – Can move the markets 100 PIPs in seconds. Don’t
take your eye of the ball, it could be expensive, very expensive.

5. Correlation Indicator
You may now have your MT4 Trading
account set up and an additional
monitor.
Our MT4 Correlation indicator shows you the current
correlation of the instrument you are trading against 4
other instruments on any time frame.
However, if you intend trading more than 1 instrument, like the vast
majority of traders do then you must be aware of correlation. For
example, taking a Long USDCHF position and a Long EURUSD
position most often means you are taking a neutral position in the
market.

6. Pivot Points
Leading indicators, Pivot Points and
their associated Support and
Resistance levels are useful
reference points.
When trading the 1 hour or less time frame, Daily Pivot
points are most appropriate. On the 4 Hour time frame,
Weekly Pivot points are more appropriate and for Daily
charts reference to Monthly Pivot points would be more
prudent. Our Pivot Points Trading Strategy is based on
over 12 years analysis of Daily Pivot Point data.
Many traders rely on the Daily Pivot point as an anticipator of market
direction for intraday trades.

7. The Moving Average
The foundation of the FREE 3 Little Pigs MTF
Trading Strategy, the Moving average is
probably the most popular indicator for
traders across the globe.
200
Day MA
Long term investors favour the 200 Day MA.
It shows the average price over the last year and provides
a birds eye view of the annual trend.
Although they are lagging indicators they are still a most useful tool
for identifying trends. The Moving Average Cross Over Strategy or a
variation of it one of the most popular forms of trading.

8. Candlestick Reversal Patterns
Many people observe chart patterns
which are simply not reliable at all!
Candlestick Reversal Patterns on higher
time frames however, are!
Steve Nison is the king of Candlestick Patterns. He has
many books and indicators on offer including some costing
£100’s. The PAST MT4 Indicator included in the Forex
Useful MT4 Indicator Bundle identifies the 3 Candlestick
Patterns Nigel uses for a fraction of the cost.
Nigel’s FREE Price Action Swing Trading (PAST) Strategy is
based on identifying potential trading opportunities on the higher time
frames based on 3 Candlestick Reversal Patterns.

9. Web Based Charts
Many of us are on the go these days.
This means we don’t always have access to our
laptop or desktop. We rely more and more on
our phones and our tablets which become
more and more advanced by the day.
The Note Board App (a modern day sticky note you can
use across many devices) is handy to keep a note of
open positions. More importantly, Trading View is a
great, FREE, web based charting package.
For this reason it is always worth having a note of your open
trades and access to Web based charts.

10. Price Alerts
Price alerts are a necessity for most traders.
You may for example, be interested in a
particular breakout or trend-line break. Perhaps
not to trade it immediately, but to observe it and
then take appropriate action.
Whatever your needs, having a Price alert
facility is a must for most.
Price alerts are an integral part of the MT4 platform. So,
assuming you have an MT4 platform running you should
have no problems with Price alerts. In fact you can
even set them up for email and SMS too (usually free of
charge, see this article for more details).

11. VPS
Not a necessity for everyone as they come at a
cost. A VPS is a remote, usually, Windows
based computer, where you can run continuous
MT4 sessions.
4x Solutions are tailored to MT4 users.
They provide a reliable service with little down time,
occasional but brief weekend periods only. In addition to
this their support via online chat or email is adequate to
resolve any small problems.
This is essential if you are running a MT4 Expert Advisor (EA)
where your process must be able to trade any valid signals. It is also
most useful for your alerts because it means you can turn your own
computer off and still get your alerts via email/SMS.

12. Our Top 10 Forex Trading
Tools & Tips
Produced by
We hope you enjoyed
Our Top 10 Forex Trading Tools & Tips