Helpful tip
I'd like to add something, to what I have written recently, and hope that all FX53 users find this helpful. I'm not suggesting that anyone follows what I do but, hope that you will see the logic in my approach.
One of the difficulties we face in using VT Trader is that it is not easy to track multiple currency pairs, unless you've got 4 or more monitors, I only have 2 so, I developed a method of keeping track of the 11 pairs that I'm interested in.
The problem with VT Trader is that the more charts you set up, the slower it runs. Therefore you need to disable "Constant streaming". This speeds things up a lot. The charts will update just as normal and the crosshairs don't get constipated.
Down to the nitty gritty. Apart from using VT Trader I, also, use MT4. The reason for this is that I can look at any currency pair, in any time frame, in a couple of seconds. Try looking at a daily, 4 hr, 1 hr, 15 min, 5 min, for 11 pairs, on VT Trader and it will take ages to go through them. Therefore, I have VT on one screen and MT4 on the other.
This is what I do. I have only the 5 min charts for 10 pairs loaded in VT Trader, the exception being GBP/JPY for which I have all time frames, apart from 1 min. I fire up MT4 and if I see a potential set up, on any pair, I open up the relevant 5 min chart on VT. If FX53 indicates that this trade should be taken, I'll take it. If it doesn't, then I sit on my hands
. However, I should say that GBP/JPY is the main pair for me to trade and I watch the price action on this very closely. With MT4 I can still flick through all the other pairs without taking my eye off the main ball.
I hope that by sharing this with you, it may help you find profitable trades that might otherwise get overlooked.
