How I Monitor Charts

Thought I will just create a short post to describe how I monitor charts.

I'm using FxPro MT4 for my charting so I monitor almost all the pairs (60-80+ I think, can't rem) it provides.  I put them into 5 profiles, one for the majors, two for crosses, and two for exotics. I also watch the indices and commodities charts from FxPro but I seldom trade them. For the FX exotic pairs, I only trade them on the daily or weekly charts due to the large spreads which makes intraday trading on them unfeasible. As such I only need to monitor them once a day. I have my key levels and S/D zones marked out on all the pairs. I use this Alerter (http://www.forexfactory.com/showthread.php?p=233568#post233568) to alert me when price is near any of these levels.

I realized that a fast way to monitor the pairs without switching around like a mad dog is to have a snapshot of the majors. I set up another MT4 on a separate monitor to provide me with a snapshot of some of the majors. I use AvaFX for this because they provide the Dollar Index chart as well as commodity + bonds + indices charts.

Market Snapshot

So for example if I see that EURUSD is moving, I'll check out the EUR related pairs to see if there are any potential setups. Markets are usually dull during the Asian session so if I know from the snapshot that none of the pairs are moving, there is no need to painstakingly scroll through all the crosses because they won't be moving either. Exceptions would be SGD, SEK, or NOK related pairs which I still monitor if I know they're near major levels.

Hope it helps!