AbleForex answers:

If you need access to real time charts, DailyFX has 6 free charts available http://www.dailyfx.com/charts/

The Marketscope chart listed on the page is the chart available inside FXCM’s FX Trading Station II platform.

AbleForex answers:

I could give you everything I use, and it would still depend on you, your knowledge, your training, your skills, your discipline, your approach, your money mangement, and the amount of risk you take.

There is no magic formula, and there is no magical time frame.

If you must know, I use the Month/Week/Day charts to determine the trend. I use the 360/180 charts to determine intermediate trend. And I use the 90 min chart to make trading decisions from. I use the lower time frames to find an entry point. So you see, I use almost all time frames, every day.

AbleForex answers:

“Tight spreads” are certainly a consideration, but not the primary one. It’s like “stock” brokers, they’re all pretty much the same.

What you should be concentrating on are the resources that will make you money. You want the best trading platform, best executions, best help money can buy. If you can make money trading, the spreads aren’t going to matter. I would gladly pay double the spread if I can make twice as much money.

Don’t do this on the cheap. If you can’t afford the spread, don’t trade. This is typical of a novice; asking all the wrong questions.

Like any vocation, it takes hard work, lots of study, and the testing of your theories, learning what makes you tick, learning your own particular time and stress levels, and fighting the emotions of fear, greed, and loss of hope.

Most traders spend their entire time looking for the Holy Grail of indicators. Your success or failure lies within you, not some indicator, or how tight the spreads are or how cheaply it can be done.

If you have $3,000 for the trading software, PremiereTrade is a great place to start because of all of the training sessions, Message Board, Live Trader Commentary, chat rooms and the ability to actually talk to their traders. I’ve never seen these kinds of resources elsewhere.

You want to give yourself the best chance of success, not hog tie yourself to some cheap, limited, and disadvantaged setup. Do yourself a favor and put the odds in your favor.

http://www.bmfn.com.au

Http://www.premieretradeai.com/

http://www.forextv.com/FT/Video.jsp?channel=41

http://umgarticles.atspace.com/forex-trading.htm

http://www.fxstreet.com/rates-charts/usdollar-index/

http://forex.tradingcharts.com/

http://www.dailyfx.com

http://www.forexbastards.com

http://www.forex-options.com/

http://4xcampus.com/

AbleForex answers:

1 one is out due to reason you mentioned.
#2 is plausible – Maybe! Think through what you would need to do to have it be sale-able. Target your market and design and build the software for that market, test it and ensure that it performs well, then get a few millionaires to swear by it on camera, then market it and then sell it en mass.
Your outlay in time and money will be vast. If you try to do it all yourself, by the time you have a working product the market may have changed. I think that your idea is too far removed from being sales ready to make it doable without huge cash investments. Think of something simple and easy. You don’t need to do something earth shattering- just make a good, plain jane product or service that people will enjoy or find indispensable. Do yourself a favor and pick something more manageable. Starting a business is easy, making it successful is HARD. It takes vast amounts of learning and time. Don’t practice by blowing your whole wad. Practice on an easy test project. Make some little freeware plug in and if it works, build onfeaturess and cross sell them to that customer base.
Business ain’t rocket science; it’s just focusing on the same simple things and doing them well over and over again. Define success, automate your sales, ensure quality control, marketing never stops, build metrics to track employee productivity and reward the best, find good people to help you and repay them with loyalty. You can’t do it alone without wasting tons of time.
Your first focus should be sales, sales, sales, sales. If you can’t make sales you can’t ever make money. Reading: “Cashflow quadrant” by Rich Dad, Poor Dad; “Ready, Fire, Aim”;”The Effective Executive” Druker;”The Art of Transformation”, Gingrich & Desmond

AbleForex answers:

When I feel like getting back into my charts I like to use pivot points, Fibonacci studies and Stochastics to predict price movements and support and resistance levels.

The majority of my Forex activity is now based on hedging strategies as a key element of a long term investment focus.

AbleForex answers:

You may be catching a falling knife. Just buy some gold and let it set for 5 years. That or short some bonds because interest rates are going up.

Be very careful with currencies and be prepared to change your strategies day by day, trade by trade – there are so many variables.