Education and Support for Trader
It is vital to be supported when dealing with prop firms. Traders must have good relationships with their trading companies. After all, there is a lot at stake! A couple of factors support traders, such as customer support or education to aid their growth.
DT4X provides premium educational content for traders. There are over 30 videos that cover everything from technical analysis to fundamental analysis. Although I would hope you are familiar with the basics of charting if you trade with a prop company, it is still great to see how the company cares about the success of its traders.
The back end is another way that DT4X supports its traders. All of the trading statistics can be viewed by traders, including drawdown, profit, pairs, trades, and more. It works the same way as MyFxBookOpens but opens in a new tab. It does, and it's great that it's included in the account area. Funded traders need to know where their results are. This is quite advanced. You can also link your fund account to any industry-leading journaling tool that opens in a new tab. For more detailed stats, click here.
These tools are very useful for forex traders, and I recommend that all forex traders use them! First, an economic calendar allows you to capitalize on or avoid high-impact news releases. This data is usually obtained from Forex FactoryOpens in the new tab. However, it's always better to have two sources. The position size calculator is used to ensure that you trade the right lot size for your stop loss, risk size, and currency pair.
However, I use the BabypipsOpens in the new tab. Calculator, it is great to keep one in your back pocket! The Commitment to Traders tool is another great one to have. It allows you to see the whole market and what institutional traders are looking at. Transparent FxOpens will open in a new tab. CoT is used in his trading and seems to work well!