As stated in the heading, the number one key bit of kit for a price action trader is New York ‘close 5-day charts’. The important thing here is that their charts only have 5 daily candles instead of 6, and the days start in Asia where the market opens, works through Europe and the UK, and then closes in the US. This way, your daily candles are getting the most accurate reflection for price action.
Hand-in-hand with the close time of the charts goes a really solid broker. As a trader, we need to be able to know that we can rely on our broker, and also know that our stops and targets will get executed. The other thing is that one of the biggest expenses a trader is going to have over their career is commissions and spreads.
There can be a huge discrepancy between a good and a dodgy broker when it comes to spreads. Whilst you may think it is only a few pips, soon you will start making bigger and bigger trades, and over time, those pips quickly add into thousands. That’s how the brokers make their profits!
You can download your free set of demo charts or a new broker for a live account here: Recommend Charts & Brokers For Price Action Traders.
I have created a personal tools and resource list that I give out for free. If you have not yet received this, I recommend this to you. You can get this here: My Trading Tools & Resources
