Fidelity Active Trader Pro is a powerful trading platform designed for active traders who want to access advanced trading tools, research, and analysis. It offers a range of features that make it easy to chart forex and other securities. In this article, we’ll take a closer look at how to chart forex on Fidelity Active Trader Pro.
Step 1: Open the Charting Tool
To begin, log in to your Fidelity Active Trader Pro account and open the Charting tool. You can access this tool from the main menu by clicking on the “Chart” icon.
Step 2: Choose the Forex Pair
Once you have opened the Charting tool, you will see a list of all the securities available for trading. To chart forex, you need to choose the currency pair you want to trade. You can do this by typing the name of the currency pair in the search bar or by browsing through the list of available pairs.
Step 3: Customize the Chart
After you have chosen the forex pair, you can customize the chart to suit your trading needs. You can change the time frame of the chart, add technical indicators, and draw trend lines and other graphical elements. Fidelity Active Trader Pro offers a wide range of technical indicators, including moving averages, Bollinger Bands, and Fibonacci retracements.
Step 4: Analyze the Chart
Once you have customized the chart, you can begin analyzing it to identify trading opportunities. Fidelity Active Trader Pro offers a range of tools to help you analyze the chart, including:
– Technical indicators: These are mathematical calculations that are based on the price and/or volume of a security. They are used to identify trends, momentum, and other patterns in the chart.
– Drawing tools: These allow you to draw trend lines, support and resistance levels, and other graphical elements on the chart.
– Chart patterns: These are recurring patterns that can be used to identify potential trading opportunities. Examples of chart patterns include head and shoulders, triangles, and flags.
Step 5: Place a Trade
Once you have identified a trading opportunity, you can place a trade directly from the Charting tool. To do this, click on the “Trade” button at the bottom of the chart. This will open the Trade Ticket, where you can enter the details of your trade, including the size, price, and stop-loss and take-profit levels.
Conclusion
Charting forex on Fidelity Active Trader Pro is a straightforward process that can be accomplished in just a few steps. By customizing the chart, analyzing it with technical indicators and other tools, and placing trades directly from the Charting tool, you can take advantage of the many opportunities offered by the forex market. Whether you are a beginner or an experienced trader, Fidelity Active Trader Pro offers a range of features that make it easy to chart forex and other securities.
