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All About the Apps

All About the Apps

James Stanley, Senior Strategist

As we drive deeper into 2013, the world’s reliance on applications continues to grow. Driven in part by the mobile revolution, application offerings have become a pivotal part of the daily lives of billions of people around the globe. And in the constant effort of helping our traders, FXCM and DailyFX have recently launched an app store specifically for Forex Traders.

All_about_the_apps_body_Picture_9.png, All About the Apps

The FXCM App Store available at www.FXCMApps.com

Many of these tools are completely free. Others are available for a cost, but there are numerous promotions available. For example, as of the time of this writing there is a promotion in which any new account funded with $5,000 or more can receive all six of the DailyFX Trading Signals strategies for free, which would otherwise cost $300. This link will have much more detail on this specific offering: Link.

In this article, we’re going to walk traders through using the app store and getting these tools installed on their platforms. In future articles, we’re going to get much more in-depth with specific tools, indicators, and strategies available from the FXCM App store.

How to Navigate the App Store

To get to the FXCM App store, you can direct your browser to www.FXCMApps.com, and you will be met with a very intuitive user interface.

All_about_the_apps_body_Picture_8.png, All About the Apps

The front page of www.FXCMApps.com, with Trading Station highlighted

Traders can place their mouse over the menu bar to be met with a series of additional options. Clicking on any of these options will take you to a page with tools available.

For example, once clicking on ‘Indicators’ underneath Trading Station Desktop, you currently have the following options available (more are being added on a regular basis):

All_about_the_apps_body_Picture_7.png, All About the Apps

Available indicators for Trading Station as of this writing

Downloading Indicators

To begin the download process for any of the available indicators, you can simply click on ‘Add to Cart’ to get the download started.

All_about_the_apps_body_Picture_6.png, All About the Apps

Once the indicator is added to the cart, you can checkout to complete the transaction. If it’s a free indicator, no payment will be necessary.

Clicking on checkout will then bring up a screen where the trader can input billing information to complete the transaction. Once again, if this is a free indicator, no payment or billing information will be necessary. Simply a name, phone number, and the Country of Residence are required fields. Clicking ‘continue’ at the bottom of the screen will bring up the order confirmation screen.

Clicking the button for ‘Send Order’ will bring up a screen in which the download can be initiated. Clicking on the ‘download’ button will get the indicator download started.

All_about_the_apps_body_Picture_5.png, All About the Apps

The download will then be started, and the indicator will arrive as part of a ‘zip’ file.

Installing Indicators

To open this file, numerous applications can be used. Winzip is a popular option (available for free as a trial), as is Winrar (available completely free of charge). (Both programs can be found by searching google for ‘Winzip’ or ‘Winrar’)

Double-clicking on the downloaded file will bring up the Winzip utility (or Winrar, as used in this example), and the trader can then ‘unzip’ the file to the desktop.

All_about_the_apps_body_Picture_4.png, All About the Apps

Once the file is extracted (or ‘unzipped’), a folder will be placed in the directed location with the same name of the indicator that was downloaded: In this example, ‘ATR Pips,’ will be placed on the desktop.

Inside of that folder is a ‘setup’ file. Double-clicking on this file will bring up the installation wizard for the indicator, and we are almost finished with installing the indicator.

All_about_the_apps_body_Picture_3.png, All About the Apps

We simply need to follow the prompts to complete the installation, and the indicator will be added to our platform.

We’re Almost There

After all of the above instructions are executed upon, we have one more step until our indicator becomes an available part of our trading platform: We have to restart our platform for the changes to register. A full restart of the computer is not necessary, simply closing and re-opening the trading platform will bring the indicator in as an available option to add to our charts.

We can add an indicator as we normally would, and the newly installed indicator will be available at the very bottom of the ‘add indicator’ dialog box, under the heading for ‘Other.’

All_about_the_apps_body_Picture_2.png, All About the Apps

ATR_Pips_Indicator is available through the ‘Add Indicator’ dialog box

After this process, the indicator is added as any other indicator in the platform would be, and can be displayed on the chart precisely as any other indicator is displayed:

All_about_the_apps_body_Picture_1.png, All About the Apps

Trading Station II with ATR in Pips displayed

--- Written by James Stanley, Trading Instructor

James is available over Twitter @JStanleyFX

To contact James, email JStanley@DailyFX.com

To be added to James distribution list, please click here.

Would you like dozens of trade ideas every day with updated charts to identify major levels of support and resistance on the currency pair you’re trading?

If so, register for a free trial of our Technical Analyzer here and you’ll be provided with a free temporary login on the last page of the walk-through.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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