Do not invest more money than you can afford to lose.
Banks and hedge funds have benefited from big-data insights for years. Leading US brokerage FXCM (NYSE:FXCM) now makes it available to retail traders for free by bringing big-data technical analysis indicator to its Trading Station Desktop platform. The broker always strives to add innovative and useful features to its platforms in order to make the trading experience of its clients a more enjoyable and successful one.
It is called Grid Sight Index and it uses big-data analysis to reveal predictive insights that help traders decide whether short-term trends will continue or reverse.
This is how the indicator works: when the it locates a sufficient number of similar price patterns (called Matching Events), it studies how the market reacted historically and summarizes the results. Please, note that the percentages in the results are not probabilities or predictions; they describe historical outcomes. It’s up to you to decide whether to rely on a technical indicator in your trading strategy, or not. History often repeats itself, but sometimes it simply doesn’t.
The Grid Sight Index is exclusively available at FXCM and the best news is that it and is free of charge. Aside from the desktop version of the broker’s in-house platform Trading Station, you can also view a limited version of Grid Sight Index on your phone.
Grid Sight Index is generally intended for use in times of high market volatility. The indicator tends to provide the most useful data during the European and US sessions and is usually less helpful during the Asian session and with pairs like EUR/GBP (due to low price volatility).
Big-data indicators are on the cutting-edge of financial market analysis. They analyze millions of data points to reveal aspects of market behavior that traditional indicators simply cannot identify.
FXCM (NYSE:FXCM) is one of the biggest providers of online forex and CFD trading, spread betting and related services worldwide, servicing institutional and retail clients alike. According to the latest CFTC report on client deposits, FXCM continues to be the most popular choice among US forex investors.
The company has units registered and regulated with the relevant authorities in the US, the UK, Australia, and France.
