Whether you’re new to trading or you’ve been doing it for years, GFT’s newly updated FX Mentor™ forex trading tool offers you the chance to learn where to place high probability trades, with help from a professional.

Subscribers enjoy intraday analysis, commentary and updates on approximately 55 currency pairs from forex trading professional Dave Floyd. You’ll even receive alerts when Dave spots high-probability trades, delivered right to your desktop, email inbox or even your mobile phone! Plus, get in-depth insight by participating in a weekly webcast/conference call where Dave answers your questions and walks you through trading strategies, trends and current market conditions.

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Not looking for the whole package? No problem! We are now also offering the opportunity for you to subscribe only to the FX Mentor™ Alerts. You'll get the Trade Alerts emailed or sent to your mobile phone, so you can stay on top of the markets from virtually anywhere.

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Note: FX Mentor™ subscribers automatically receive FX Mentor™ Alerts as part of their subscription.

We have reduced the spreads on many of our most popular forex pairs. Our highly competitive prices are now as low as one-pip wide for major pairs, including the EUR/USD, EUR/GBP, USD/JPY and EUR/CHF. These extremely low prices may help you to increase your profit potential as you seek opportunities in the world’s largest market! Trade for less – view our low spreads

A TRUE LEADING INDICATOR, WITH NEW, LOWER PRICING

Take advantage of combining this leading indicator — which forecasts when the daily market highs, lows and trends may happen — with your price analysis to target when may be the best time to enter and exit the market for maximum potential profits.

See how adding Foresight-A.I.™, our powerful market timing tool, to your trading strategy can give you that extra edge you need to know WHEN the market may move.

And now Foresight-A.I.™ is even more accessible. Forecasts are still available for 13 of the most widely traded currency pairs, but now you can choose to receive only the currency pairs you need. Customize your subscription by choosing groups of three currency pairs and receive the daily forecast charts directly within DealBook® 360.

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Find trends with this channel indicator that helps to identify support and resistance levels. Get your article to learn how to use Andrews’ Pitchfork to find higher probability trades

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If you’d like to go from trading rookie to expert, get some help with one of our free seminars. From the basics to more advanced topics, these educational seminars can help you achieve your trading goals by providing a live trading demonstration and hands-on training.

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The Linear Regression Slope is just one of the more than 100 technical tools available within DealBook® 360. It crunches the numbers of past market prices to provide you with insight into price trends and possible turning points, churning out the resulting data as a line that can be overlaid on a chart and updated as the current market prices update.

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Automated Trailing Stops

Most successful traders don’t just "wing it." They develop a carefully thought out trading plan, which takes risk management and profit goals into consideration. If you enter the market without a planned exit, how do you know when to take your profits or swallow your losses? If you don’t set stops and limits, how will you ever be able to tear yourself away from your computer?

Automated trailing stops can be used as an integral part of any trader’s plan. This type of order gives you the opportunity to set one order that will help you to lock in profits and limit losses.

Automated trailing stops are most commonly used to protect an open position. You set the distance from the current quote that you’d like your stop to trail, and if the market moves in your anticipated direction, the stop order will automatically follow, or ‘trail,’ the market by your specified distance. If the market starts to turn in the opposite direction and moves the distance at which your stop was set to trail, your stop order will be filled. This can help you manage your losses and capture additional profits because your stop can automatically adjust as the market moves.

While this may sound confusing in theory, it becomes much easier when you actually see how it works. Let’s look at an example to see how an automated trailing stop could be used.

Based upon the distance you set your trailing stop (in your desired number of pips away from the market), it moves whenever the market moves helping you lock in additional profits should the market move in your favor.

• Let’s say you sold USD/JPY at 107.20, thinking the euro was set to weaken against the dollar.
• Later in the day, the pair is trading at 107.00. Your floating profit thus far is 20 pips, or about $200.
• You’d like to make sure you maintain a portion of your profits while also minimizing and risk of the pair strengthening.
• While you could set a stop and a limit, say at 107.40 and 106.80, respectively, what if the pair continues to trend down? You could miss out on additional profit potential if the market continues to move lower than 106.80.
• As a solution, you could set an automated trailing stop order.
• You can set your buy-stop order to automatically trail the market by any distance. In this example, we’ll set it to trail the market by 10 pips, while the market is still quoted at 107.00 (note: if you’re setting a trailing stop to buy, it will trail the currently quoted ask/buy price, while a trailing stop to sell will trail the current bid/sell price). This means that as the market continues to trend down, your stop order moves with it, trailing at a distance of 10 pips.
• So, for example, if the market moves down to 106.70 before heading back up, your stop will be executed 10 points above the market’s low point – at 106.80. This means that you would have made a profit of 40 pips, or $372 (the difference between your original sell price of 107.20 and the ending buy price of 106.80, based on trading one lot).
• On the other hand, if the market would have immediately started climbing after you placed your automated trailing stop, your automated trailing stop should have been executed 10 pips above the price at which you set it, or at 107.10 in this example. You still could have made a profit of 10 pips, or $95.

  Please note that the above example is for illustration purposes only, and not a recommendation to use a particular trading strategy.

So how can you use automated trailing stops within DealBook® 360? Click here for step-by-step instructions. You may even want to open DealBook® 360 to follow along and try it out on your practice account.

Don’t have a practice account yet?   Get one now  |  Download DealBook® 360.

We know we have one of the most powerful and innovative web-based trading platforms available, but we’re never happy sitting back and resting on our laurels. We’ve made DealBook® WEB even better by greatly enhancing its charting and technical analysis capabilities.

Recent enhancements include:

• Improved Fibonacci retracement tool with new customization capabilities, including:
• Adjustable extension and retracement values
• The ability to color-code lines
• The option to extend lines right and left
• 13 new technical indicators to give you even more ways to analyze the markets:

DiNapoli MA 3x3 DiNapoli MA 7x5 DiNapoli MA 25x5 Commodity Channel Index Momentum Detrend Oscillator Directional Movement Index +/- Keltner Channel Awesome Oscillator Forecast Oscillator Aroon Directional Movement Index – ADX Directional Movement Index – DX Linear Regression Direction Movement Index – ADXR

• Removed weekend gaps from the charts and made it possible to adjust pricing lines for further flexibility.

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This gives you the opportunity to view a chart for a number of markets quickly and easily, by simply clicking on a symbol within the quoteboard. You can watch patterns and trends develop in multiple markets, switching to a new chart by simply clicking on a new symbol, without having to keep individual charts open for every market you are monitoring.

To open a linked chart, you will first need to open a quote board. You can do this by selecting View > Quote Board or use the keyboard shortcut of Ctrl + Q. After you have opened the quote board, right click on a market within the quote board and choose Open Linked Chart. This will open a line chart with a tick timeframe. You can configure this just like any other chart within DealBook® 360, so you can change the chart type, timeframe and display properties by right-clicking and selecting Chart Properties from the menu. You also can save your preferences as the default setting so your linked charts always have the same display properties. You can now simply click on any pair in the quote board. The linked chart will immediately switch to reflect the chart of the selected instrument.

Learn how to use other DealBook® 360 features  |  Try it

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