One of the most useful tools currently going around in trading circles is Autochartist. But it isn’t as well known as it perhaps should be, which is a shame since the tool itself has a good deal of reliability and efficiency in terms of what it offers traders.
Autochartist is a high-level charting tool that allows traders to realise trading opportunities as they arise in real time. It does this by analysing the market as it changes through traditional algorithmic, mathematical and theoretical frameworks which allow it to identify trading opportunities, sentiment, trends and changes in market directions. As a user, you take the tailored alerts and suggestions that Autochartist serves up then decide if you want to go ahead with a trade.
For people getting started on their trading journey, Autochartist is immediately helpful because it allows them to identify the kind of trends and opportunities that are otherwise normally only available to advanced traders who know their way around high-level analytical techniques. What’s even better is that AxiTrader gives its clients access to Autochartist for free, provided they qualify for the minimum funding amount for a Live trading account.
Qualifying for AxiTrader Autochartist
All you need to do to qualify for free use of Autochartist via AxiTrader is have an active, funded trading account with the broker.
The basics of Autochartist AxiTrader
A basic thing you need to understand about Autochartist is that it’s not an automatic trading tool, so it won’t be making trades or placing an order for you automatically.
Instead, it charts the current happenings in the market and applies previously known theoretical knowledge to the trends. It uses all kinds of indicators and data in order to give you a realtime understanding of market conditions. As it automatically and continuously scan the markets for optimum trade setups, it will provide you with notifications when it identifies something that might be interesting, based on the currency market patterns. It will even provide you with data on realistic exit levels by analysing the volatility of the currencies you’re intending to trade.
And yet, even the most optimistic traders will have to accept that the tool won’t always be correct in its predictions of what is a good trade and what is a bad trade. The final decision has to be made by the trader, and that means that the trader has to understand the theoretical framework behind how Autochartist does the analysis, and why it might be predicting certain changes in the market. They also have to be able to critically identify whether the tool is right at the time of providing the information, or whether it is simply mistaking certain standalone events for a trend.
Still, Autochartist is one of the most useful tools in the industry and it is offered to all of the AxiTrader users for free!
