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What do the Red and Green Lines Represent?
Aussie Rob’s Lifestyle Trader tracks “Supply & Demand”. To keep things simple, think of the Green line representing the “Buyers” and the Red line representing the “Sellers”.
When you have more Buyers than Sellers (Green line above Red line) in a market, the price should go up.
When you have more Sellers than Buyers (Red line above Green line) in a market, the price should go down.
The Forex market trades round-the-clock. What do you base your daily “close” on?
We base our “close” on the prices of 5:00pm US EST
What do you base your “open” on?
We base the following day’s “open” on the price of the first trade that occurs after 5:00pm US EST.
Why does it take over an hour from the close to the time the charts update?
During that time, we acquire our data from our data suppliers and then our programmers run several computer routines to create our red and green lines. This information is then uploaded to our servers and is then ready for you to download to your computer.
How do you trade it as the prices would more than likely have moved?
Yes, the prices probably have moved. Sometimes you might get a better price than the “open” and sometimes you might get a worse price.
When I am paper trading, do I enter at the close or the open price?
We always enter our trades using the most current, recently traded price, which is the current close price. So use the current close as your entry price as well as the close price for everyday trading after that.
When I update my paper trading spreadsheet each day, which price do I use?
You use the “open” to open a trade and then use the “close” each day to calculate your running profit/loss.
Where can I find the Commodity and Forex paper trading spreadsheets?
Visit www.lifestyletrader.com.au > Login to the members area > Click on Downloads tab
Trading Forex in Australia, what time do Forex markets close on the weekend and when do they re-open?
Forex markets open 7:15am QLD time zone. Note: Forex trades around-the-clock so we base our “close” on the prices at 5:00pm US EST. We base the following day’s “open” on the price of the first trade that occurs after 5:00pm US EST.
How much is the Forex Software
Please contact our Sales Department on 1300 223 799
When your in a forex trade and you get a dotted line cross do you get out if the cross is the same direction as your trade
The dotted line is still a valid exit signal if already in an open trade, however if it is a dotted cross it is not a valid entry signal.
Who are your preferred brokers?
Our preferred brokers are Interactive Brokers
What is the best time of day to trade Forex?
As close to the software update as possible, which is around 8:30am EST
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