Eikon is a powerful financial analytics platform that provides traders and investors with real-time market data, news, and analysis tools. For forex traders, Eikon offers a wealth of information and tools to help them make informed trading decisions.
Here is a step-by-step guide on how to use Eikon for forex trading:
1. Get access to Eikon
To use Eikon, you need to subscribe to it through a financial institution or directly from the Thomson Reuters website. Eikon is a paid service, and the cost varies depending on the subscription plan and the features you need.
2. Navigate the Eikon forex workspace
Once you have access to Eikon, you need to navigate to the forex workspace. This workspace is designed specifically for forex trading and provides you with all the tools and information you need to make informed trading decisions.
3. Monitor real-time forex prices
The forex workspace in Eikon provides you with real-time prices for all major currency pairs. You can customize the display to show the prices you are interested in and get up-to-date information on bid and ask prices, spreads, and trading volume.
4. Analyze forex charts
Eikon offers a wide range of charting tools that allow you to analyze forex prices and identify trends and patterns. You can choose from a variety of chart types, including candlestick, line, and bar charts, and customize them to suit your trading style.
5. Access forex news and analysis
Eikon provides you with access to a wide range of forex news and analysis from leading financial news providers. You can customize your news feed to show only the news and analysis that is relevant to your trading strategy.
6. Use forex indicators and tools
Eikon offers a wide range of forex indicators and tools that can help you make informed trading decisions. These include technical indicators such as moving averages, oscillators, and trend lines, as well as fundamental analysis tools such as economic calendars and news feeds.
7. Connect with other forex traders
Eikon allows you to connect with other forex traders and share ideas and insights. You can join forex trading communities, participate in forums and chat rooms, and access expert advice and analysis from leading traders and analysts.
8. Execute forex trades
Eikon provides you with direct access to forex trading platforms so you can execute trades directly from the platform. You can choose from a range of trading platforms, including MetaTrader 4 and 5, and customize them to suit your trading needs.
In conclusion, Eikon is a powerful financial analytics platform that provides forex traders with real-time market data, news, and analysis tools. By using Eikon, traders can make informed trading decisions, access a wide range of forex indicators and tools, and connect with other traders to share ideas and insights. With its user-friendly interface and comprehensive forex workspace, Eikon is an essential tool for any forex trader looking to succeed in the challenging world of forex trading.