Time installing the Templates: Just a few minutes with our MetaTrader Pro setup
What does it do?
If you want to make your own customised versions of this template we recommend you “Save as…” with a new template name in order to keep the default template and not have any new settings lost when installing updates.
What is it for?
This gives you a quick way to set your charts with the default indicators, and include News information relevant to the instrument you are monitoring.
How do we use it?
We are first and foremost technical-analysis traders, trading the aftermath of news events. This does not mean that we do not follow the news, just that we do not trade the bullish or bearish bias suggested by released figures, but the actual market response to those releases.
This means we need to know when relevant news releases are occurring to look for set-ups, and to manage trades, where the market bias may change.
By default we will have this showing on at least our market risk sentiment monitoring chart, the S&P500, to stay informed as to the various events that may affect market sentiment towards the US Dollar – and therefore everything we trade that is priced against the US Dollar.
We recommend you familiarise yourself with the economic News Calendars at ForexFactory.com and ForexPeaceArmy.com to build your understanding of what news is released, how often, and follow what effect it can have on the markets.