Trading Station is ideal for those who rely heavily on charts for trading. The intuitive charts can be imbedded directly into the platform. And with dockable windows, tabs and flexible layouts, you can easily customize the platform so that all vital information is on one screen. Watch this video to learn how to set up your chart-trading layout.
Trading with FXCM provides you access to the award-winning Trading Station II platform. With its robust feature set, you can take full control of the look and feel of the trading interface, making sure you get the most from your trading experience.
In this video, you'll see how the platform can be customized to suit the needs of traders who rely heavily on charts in their trading.
Trading Station II utilizes the Marketscope 2.0 charting package. One of the great benefits to Marketscope is that you can use the charts as a standalone application, or you can embed the charts directly into the platform, keeping all of your vital information on one screen.
The default Trading Station layout displays all available windows, including things like messages and actions, which might not be vital to a chart trader. These windows can be easily closed, adding significant chart real estate to the platform.
Adding a chart is as simple as selecting the "create market shot" button and clicking OK. And if that's still not enough, you can utilize the dockable window feature, which allows you to create tabs inside of a window, further expanding your layout options.
One of the Trading Station's most exciting features is the ability to trade directly from the charts. You can create market and entry orders, adjust stops and limits, and close out trades directly from the charts.
On this chart, price action has dipped below and bounced back above the 50% Fibonacci line. Moving the stop to breakeven is a simple drag and drop operation.
Another Trading Station feature that chart traders will want to know about is alerts. Trading Station II offers two types of alerts: price alerts and indicator alerts.
Price alerts allow you to specify a currency pair and a price. If the market reaches your price, you'll be notified by audible sound or by popup message.
Indicator alerts notify you of certain indicator conditions, like MACD crossovers or moving average crossovers. There are a lot of options available and creating alerts is quick and simple.
If you have a trading strategy that works with numerous instruments, you'll want to learn about the Trading Station's link feature. To get an idea of how the link feature works, consider the following example: Assume you work off of two charts. A daily chart is used to locate the direction of the trend, while a four-hour chart is used to locate entries and exits.
With the necessary time frames and technical indicators in place, you can link the two charts together. With the charts linked together, you can begin analyzing the data. If the euro/dollar pair isn't providing you any good trading opportunities, change the instrument on one of the charts.
Notice how all of the charts that are linked together changed to the same instrument automatically. This makes it easy to analyze your trading strategy across multiple instruments, until you find the most optimal trade setup.
And as you would expect from a powerful charting package, Marketscope includes all of the essential charting tools, including the ability to draw trend lines; create Fibonacci lines; view line, bar, and candlestick data; plus a whole lot more.
You can create the layout we discussed in this video by manually editing your platform.
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