One thing that i quickly realized as a new trader was how important your charting software really is. Most traders can get by using the free software most brokers will offer, but any experienced trader will usually tell you in most cases its simply not good enough. Charting software is to FOREX traders as a good set of tools is to a mechanic. Any mechanic will tell you they can get by with old tools or basic tools, but how much of a world of difference is it when you have GOOD high quality tools. When you think about it your charting software is all the tools you need to become successful in this market. So now you have to ask yourself: do you want to get by with your basic stuff, or do you want the quality tools the professionals use?
Is there one particular software company that’s better than the others with regard to charting? I would prefer to use the free software of course, but if there’s a clear advantage to buying it – it seems like it would be worth it.
I never considered buying a charting tool because I thought this is really not essential tool we can use in our trade. I like the mechanic analogy in forex trading and will try to buy a good forex chart. Any suggestions you have in mind?