First of all, take note of the 30 minutes prep required.
Let's begin by installing the FXCM terminal
2. Click "next"
3. Agree to the Terms and Conditions...
4. Click "Next" at the following prompt screen
5. Click "Install"
6. Click "Finish"
7. Cool, that was easy wasn't it. Now we will get you a Demo account to login, so click that "Need a Login?" link
8. That link should take you to https://www.fxcm.com/uk/forex-trading-demo/
9. Fill in the necessary fields and then click "Trade Now"
10. What will happen now is the "Web Terminal" will open. But we don't want that, so close the Web Terminal and you will return to the URL and be able to see your new Login and Password.
11. Copy and paste the Login and Password into your Terminal window as follows:
12. Click "login" - make a note of your password, don't lose it, as you will need to enter it each time you login.
FXCM Terminal comes with two separate windows, as follows:
We can think of this as the "Main Screen", but we're actually more interested in the Charting aspect to see Live SSI data, so we need to go to the 2nd window in the FXCM Terminal as follows:
This is where you will be spending 95% of your time, and when you want to exit the terminal, return to the "Main Screen" and exit there. Don't close this window... else you will lose the changes you made.
Getting the free SSI indicators
Step 1: Go here https://www.fxcmapps.com/
We want two indicators from this website:
SSI - Speculative Sentiment Index
Step 2: Add these two indicators to your shopping cart as follows and then click "Cart" at the top right
Step 3: Click Checkout on the next screen where it will prompt you to input your FXCM Apps login credentials.
Note this is separate from the login you created for the terminal. So if you don't have a FXCM Apps login go here:
I've already registered a FXCM Apps account as you can see there, but this step is straightforward.
Step 4: Once you have the necessary Login and Password, click "Login"
Step 5: Click "View Details and Downloads" (your date will be significantly different from mine)
Step 6: Now we will download the Indicators we added to the cart Do note I did add the US Dollar SSI indicator, you don't have to. I find them useful... Be advised Windows Security thought the USDollar.exe was a virus... clearly it's not and I tweeted the Windows support team and they did take note of it...
And that CoT indicator is for Metatrader 4, so for reasons of this tutorial, ignore.
Click "Download app" when you're ready
Clicking them individually will result in seprate downloads in your Windows Explorer
Step 7: Feel free to close your browser now and begin unzipping the files. They will automatically be placed in your Downloads folder.
Once unzipped it'll look like this:
Step 8: Open the folder and double-click the files inside
Step 9: Click Next and "Accept and Allow" the prompts, repeat for each indicator you downloaded
Step 10: Do note the USDollar did throw a security warning, it is safe to "allow"
Getting the Indicators setup in the terminal
The SSI Snapshots indicator
Step 1: Go to the "Main Screen", click System and "Exit"
Step 2: Log back in and go to the MarketScope 2.0 window and Click "Insert"
Step 2: Click "Add Indicators"
Step 3: Search "SSI" at top
Step 4: Double-click "SSI Snapshots"
Step 5: Enable "all" (if you want) and use the default settings:
Step 6: Tidy up the Window a bit and you will see something like the screen below:
(see how XAUUSD is a "Sell") I use this every day for trading gold...
And what you must do, if you have time, watch these SSI numbers increase / decrease, confirming your bias over TIME... so you hold onto to your winners (so important)
SSI Indicator Installation and setup
Step 1: Go to "Insert" Indicators, Search "SSI" and double click "SSI "Speculative Sentiment Index"