How To Remain Connected To The Market 24 Hrs A Day

The foreign exchange market is one of the most dynamic financial markets in the world and the fact that trading is open 24 hours a day keeps the market perpetually vibrant during the trading week. Therefore, it is essential for forex traders to be aware of market conditions at all times. Being in an environment where consumers have high expectations, MG Financial Group is always striving to develop innovative tools that make foreign exchange trading more convenient and functional for its clients. One of the latest additions we have made to increase the connectivity between the trader and the market is Alert!Fx™.

Alert!FX™ is a proprietary invention that keeps traders connected to the market 24 hours a day, seven days a week. Using today's top communication channels, Alert!FX™ can update an investor via any wireless method, from cellular phones to pagers, and from Palm Pilots to e-mails. It delivers a text message, fast and informative, that enhances your ability to trade foreign exchange.

The original Alert!FX™ offers four different kinds of alerts: rate alerts, indicator alerts, margin alerts and customized alerts. Rate alerts will send a message to traders when a certain level is reached or when a currency hits the trader’s target price. For example, if a trader believes that (EUR/USD) 1.1880 is a strong resistance level for the Euro, he may want to be notified immediately if this level is breached. He can then place a rate alert at 1.1880 by logging on to www.alertfx.com, placing the alert order, and waiting for our proprietary program to send a message to his registered cell phone or pager the moment that 1.1880 is reached.

Indicator alerts are used to trigger a message when warning or trading signals for technical indicators -- Moving Averages (Simple, Weighted, Exponential), Relative Strength Index (RSI), Moving Average Convergence Divergence (MACD), Stochastics, Bollinger Bands and Directional Movement Index (DMI) -- are generated by Forexnews.com's Charts & News software.

A Margin Alert (for demo accounts only) can inform traders about the status of their usable margins. This type of alert can prove extremely useful since it can help prevent an actual margin call. Remember: during a margin call, all open positions are liquidated due to insufficient margin. Traders can input a slightly higher level of margin in a Margin alert, enabling them to receive a premature margin call, thus giving them a chance to avoid any unwanted closed trades.

Finally, a customized alert can be used for almost anything you want to remember. This alert can serve as a personal assistant. If you are concerned that you might forget an important meeting or an important birthday, simply feed in the date and time and let Alert!FX™ take care of the rest. Alert!Fx™ is a free and efficient service that facilitates a constant flow of information.

These articles are designed to help traders understand the unique benefits of trading with DealStation. Articles contain hypothetical examples that have been created for illustration purposes only. As always, we welcome your feedback on this and other Educational Articles. If you’d like to submit an idea for an upcoming article, please send an email to service@mgforex.com. For a complete list of Educational Articles, please visit our archives.

MG Financial Group, and any of its affiliates, will not be held responsible for the reliability or accuracy of the information available in this article. The content provided is put forward in good faith and believed to be accurate, however, there are no explicit or implicit warranties of accuracy or timeliness made by MG Financial Group or its affiliates. The reader agrees not to hold MG Financial Group, or any of its affiliates, liable for decisions that are based on information from this article.