An introduction to the Forex Market and Forex Trading

Forex chart software is an integral part of any Forex trader’s tool box but what is Forex trading and what is the Forex market?

The Forex Market

Forex is an abbreviation of Foreign Exchange which is also sometimes known as FX. The Forex market is where foreign currencies are traded by Forex traders. The Forex market is different from other traditional trading markets as it operates 24 hours a day every day apart from Saturdays and Sundays. The Forex market is also different as trading does not take place in stock exchanges around the world but via brokers and banks. The Forex market is the world’s largest and it is also the most liquid market in the world. The largest trading takes place in London followed by New York and then Tokyo.

Forex Trading

Forex trading is the trading of pairs of currencies against each other. Traders use Forex chart software to give them data which they analyze to spot trends and currency shifts between these pairs of currencies and choose when to buy and sell, trade them. There are six major currencies that are traded, the British Pound (GBP), the Euro (EUR), the US Dollar (USD), the Canadian Dollar (CAD), the Swiss Franc (CHF) and the Japanese Yen (JPY). The most traded currency is the US Dollar, followed by the Euro and then the Japanese YEN. The major foreign currency trading pairs are shown in the table below. The most commonly traded Forex parings according to the Triennial Survey in 2010 were the EUR/USD with 28% of the market followed by USD/JPY with 14% and the GBP/USD with 9%.

VCI Group’s Forex By Design Forex Chart Software

For Forex traders a good Forex chart software package is essential for trading. Today we are going to take a look at the Forex chart software offering from VCI Group Limited called Forex By Design or FxBD for short. Forex By Design Forex Chart Software’s feature list (below) is certainly impressive and they also have a few tricks up their sleeve as we will see later on in the review of their Forex chart software.

• Range Bars
• Point and Figure
• Dollar Index
• Indicators
• Indicator on Indicator
• Indicator Dictionary
• Configurable Colors
• Price Series
• Bar Styles

Forex By Design Forex Chart Software – Charting

Forex By Design’s Forex charts proved to be very impressive indeed especially the Forex By Design Range Bar which uses an intriguing new approach to plotting the data. Instead of the conventional time based approach the company uses price movement to plot the data in their Forex By Design Forex chart software.

FxBD Forex Charting: Cutting Edge Range Bars

Correctly built range bars are an important source of information for successful trading when looking to analyse data presented in Forex chart software. The clear presentation of information contained in the range bars is important when disassembling periods of rapid movement in the market or to compress periods of slow movement and enable you to place key indicators closer to the price and clearly see entry signals and exit points.

Forex By Design Forex Chart Software – Forex Weighted US Dollar Index

Another import tool for the trader found in Forex By Design Forex Chart Software is a US Dollar Index (USDX) especially weighted Forex trading.

Forex By Design Forex Chart Software – Indicators

To help with traders we are provided with an exhaustive set of indicators backed up with a very useful indicator dictionary which explains each of the 43 indicators in detail. The Forex By Design Forex chart software also offers a couple of new indicators especially built for Range Bars which are unique to the VCI Group.

Forex By Design Forex Chart Software Video Tutorials

The Forex By Design Forex Chart Software is complemented by a nice set of video tutorials on their product website which give details on how to set up the charts and create templates. Instructional videos are also provided and show how to use indicators and create indicators on indicators.

Forex By Design Forex Chart Software Summary

The Forex By Design Forex chart software is a very easy to use piece of kit for the Forex trader and it offers a great range of Forex charting including the revolutionary price movement Forex chart software.

Forex By Design Forex Chart Software Conclusion

At a monthly fee of $95, the Forex By Design Forex chart software represents excellent value for money. The new price movement charts included in the Forex By Design Forex chart software are a real winner and they provide really clear charting where entry and exit points are easy to see, especially in the range bar charts.

The Forex By Design Forex chart software is perfectly complemented with the impressive and comprehensive range of indicators in the software and creating an indicator on indicator couldn’t be simpler, in fact the whole package is very user intuitive and straight forward to use.

How to get Forex By Design (FxBD) for Forex Chart Software

The Forex By Design (FxBD) software suite of Forex charting tools is available via the company’s website at www.forexbydesign.com. Access to the software is on a monthly basis and costs $95 per month with no set up costs of fees to use software.
Forex Chart Software

Forex By Design for Advanced Forex Chart Software.

Forex Trading

Forex Chart Software is a key toolset for Foreign Exchange Currency Trading (Forex). Forex trading is the trading of pairs of currencies against each other, usually from a choice of six major pairings or from sixteen minor pairings. Money is made from speculating on the rise or fall of one of the currencies against the other.

What is TradingFX?

TradingFX is an award winning complete solution for Forex traders by VCI Group Ltd and the TradingFX company. TradingFX offers both Forex chart software and Forex trading services with the provision of a 24/5 live trading service.

TradingFX’s Forex Chart Software Indicators

Indicators are an important part of Forex trading and should be part of any good Forex Chart Software. The Forex Chart Software should offer a comprehensive list of indicators to choose from in all the six major indicator groups:

• Smoothing
• Oscillators
• Bands
• Trending
• Volatility
• Momentum

TradingFX’s Forex chart software has over 40 indicators to choose from, conveniently arranged into the six major indictor categories. The Forex chart software includes two new indicators which are unique to the VCI Group products and made especially for Forex Range Bars, the Average Candle Height (ACH) which is a volatility indicator and the Average Time in Bar (ATB) which is a momentum indicator.

TradingFX’s Trading Forex Services

In addition to the Forex chart software offered as part of the TradingFX package, there are also a number of great Forex trader services that the company also provide: -

• 24/5 Online Trade Room
• Active Trade Calls during our moderated Live Trade Sessions
• Advanced Strategy Lessons
• Trader Training Classes

TradingFX Forex Chart Software Product Support

To support its Forex chart software, TradingFX provides an excellent product support service range of videos and documentation on different areas of the Forex chart software use.

Trader Training

For traders of all abilities, from the new entrant to the experienced trader the TradingFX trader training service gives invaluable access to trader training services. By purchasing the TradingFX package you get access to the Traders First Training Program and Institutional Grade Direct Access Trade System.

Training Strategies

TradingFX provides a number of training videos on Forex trading strategies and also provides strategy training sessions.

TradingFX – Forex Chart Software

With the VCI Group’s award winning range of TradingFX Forex chart software they provide a great tool set for the Forex trader. TradingFX’s Forex chart software has many traditional chart options but they also introduce a new exiting approach to Forex chart software with cutting edge movement driven charts as opposed to time driven Forex chart software reporting. Because TradingFX uses charting driven by price movement the graphical interface presented and the clarity of the charts is excellent. Using this approach they have managed to eradicate a lot of the noise on traditional charts and present crystal clear movements which result in easier data trend analysis for the Forex Trader.

TradingFX has also introduced a great new charting tool in the TradingFX Forex chart software, the Currency Strength Index (CCYX).

The Currency Strength Index (CCYX)

TradingFX Forex chart software’s Currency Strength Index (CCYX) tool divides pairs of trading currencies and analyses the performance of each of the individual currencies and then examines their potential trading trends against the other seven major Forex currencies. This data when analysed can find pointers to staying with current trade pairs or moving to a more favourable currency pairing.

TradingFX – Forex Chart Software Customisation

VCI Group has come up with another edge when it comes to Forex chart software customisation. All their charts are customisable to your personal preference, that means colours and also plotting markers can be tailored to meet your requirements. TradingFX comes with a set of predefined colours and also impressive 3D candle stick bars.

TradingFX  Summary

VCI Group Ltd. has come up with a truly end to end package for Forex traders through their TradingFX package. TradingFX offers both the Forex Chart Software and is backed up by the services to utilise it by offering 25/5 live online trading for their customers.

The innovative Forex Chart Software offers some great new movement based charting which is sure to improve any trader’s performance and they have also introduced some great new and unique tools in the shape of a new charting tool, the Currency Strength Index (CCYX) and the two new indicators, the Average Candle Height (ACH) and the Average Time in Bar (ATB). These new tools coupled with the comprehensive set of traditional Forex Chart Software tools make the TradingFX Forex Chart Software an exciting must have for any Forex trader.

TradingFX has provided a great set of services to support their cutting-edge Forex Chart Software. The services that they offer not only covers the provision of 24/5 live online trading with them but backfills this service by providing a high level of product support and trader training, a real winner of a combination.

How to get TradingFX

TradingFX is available in a standard package which includes the Forex Chart Software with built in trading and is $177 per month, or you can opt for their VIP option which includes the Forex Chart Software with built in trading and access to TradingFX’s live online trading for a total of $297 per month.

TradingFX Forex Charting Software with Built In Trading

The first option available is to choose TradingFX software alone. TradingFX software includes the range of Forex charting tools and also includes built in trading; which provides the ability to trade directly with a broker offering possibly the narrowest possible spreads available to the retail trader.

The price for the TradingFX software packages is: -

• TradingFX standalone Forex charting software with inbuilt trading is $177 per month. To sign up for the TradingFX package as a standalone product you will need to email tfx@mychartsupport.com for instructions.

TradingFX Forex Chart Software with Built In Trading and 24/5 live Online Trading Room

The second method provides the TradingFX Forex Charting Software with built in trading and also membership to the live online trading room.

The price for the TradingFX software Total Service Packages is:-

TradingFX Forex chart software with built trading and access to the live online trading room is $297 per month. To sign up for the TradingFX VIP package, follow the 2 Step Process at TradingFX.com/totalservicepackage.htm.

Summary on TradingFX’s Forex Chart Software and Forex Services

The VCI Group have done it again and provided us with some great Forex charting software backed up with some excellent Forex training, strategy and support services which should be an invaluable part of any Forex trader’s armoury.
Forex Chart Software

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