Autochartist is a service launched in 2004. It’s a tool that automatically generates reports and analysis regarding trading developments and trading pattern formations. When the company was established in 2004, the services it offered were only available on US Equities and were only updated on a daily basis.
The Average True Range (or ATR) indicator is one of the widely spread Forex tools, which has the role of a specific “pulsometer” helping a trader to instantly find out the market’s volatility. For instance, a low ATR reading shows that the market is relatively calm and flat – trading ranges are narrow. You can meet this while trading the overnight session. Then a high volatility is reflected to be a high reading of ATR.
An order cancel order trade (OCO), also known as a one cancels the other or order cancels other trade, is a unique type of forex trade. It lets you bet on both sides of the market if you are unsure if the price is going to go up or down. It also lets you trade without having to watch the market pip for pip. Understanding OCO trades can help you become the best forex broker you can be, but they are also complicated and for U.S. citizens it is an illegal trade to make.
While most traders won’t give it much though, the type of online forex broker that you deal with can have a big impact on your trading. The system they run and how they execute trades has a significant impact on their quality of service, including the speed of trades and how stop loss orders are dealt with, transaction fees, and the size of the spread. There are three main types of forex brokers that have significantly different ways of dealing with their transactions. Read and compare the types carefully to find the best forex broker for you.