Thursday, May 1, 2008

Trading from different parts of world

One of Forex's appeal to me is the 24hr market, 5 days a week. I won't mind sit up late into the early hours to watch the Euro & US markets. I have often been a nocturnal animal anyway.

With easy internet access in countries with good telecommunications infra-structure, one can practically trade anywhere & anytime! Mobile trading with PDAs & 3G phones are available too, but not my preference due to small screen size and sluggish response when switching graphic screens. But can be useful to monitor and close positions on the road though.

My favorite platform is the Meta Trader 4 offered by many forex brokers. I find its user interface pretty intuitive and easy to use.









There are 2 other features I like in particular:
1) It supports Expert Advisors & Meta4 programming language; which offers the possibility to implement and automate trading. This is one area I would explore - not easy but a challenge.

2) It allows more than one person to trade simultaneously from different parts of the world. One may argue there is security concern here as it is only password protected. However it suits me trading a shared account with my son, based in Melbourne. He would trade the Euro time zone after work. I could trade with him anywhere from Thailand or stopovers in Singapore. We watch each other's positions in real-time, communicate frequently via Skype on strategy and market conditions without call charges; how convenient! I like to share a common interest with him and this is it.

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