How to Start Your Forex Trading Day on MT5
Starting your forex trading day on MT5 sets the tone for success. A consistent routine builds discipline. Begin with preparation. Review overnight news and economic calendar. This avoids surprises in major pairs.
At the start of the London forex trading session I explain how I use the currency trading dashboard for MT5 and the steps to follow in highlighting the opportunities ahead for the session. The currency dashboard comprises the currency strength indicator, the currency matrix, the currency array and finally the currency heatmap. All have a part to play and I start with the currency strength indicator which is our radar on the market and not hard to understand why.
1. It breaks the forex market down into the building blocks of the market – in other words the currencies themselves
2. This is always the place to start with any analysis of the FX market – the individual currencies – it reveals individual currency strength and weakness which you then rebuild into those pairs of interest for further analysis on the chart
3. It reveals when currencies are potentially over bought, or over sold, and also just as important those currencies moving strongly in a trend by the steepness of the lines.
4. It also reveals those currencies in congestion and not trending
5. Finally, not only does it reveal information to help you get in, either on a reversal or into a trend, but also when it is perhaps time to exit, once a currency has reached an extreme or perhaps has stopped to rise or fall so strongly. If your main focus is forex, then this is the one to start with (in my humble opinion) and is the one many of our customers also start with, and then add others in due course.
Step 1: Platform Setup and Market Overview
Open MT5 and load your workspace. Display key pairs on multiple charts. Add the currency strength indicator and matrix. These Quantum tools rank currencies quickly. Check for extremes—strong vs. weak pairs signal opportunities.
Step 2: Apply Volume Price Analysis
Volume price analysis (VPA) is essential from the start. Scan for overnight volume anomalies. High volume on Asian session moves shows conviction. Confirm with Quantum indicators like Trend Monitor. Align higher timeframes for trend context.
Final Checks Before Trading
Assess risk sentiment. Watch correlated assets like indices or gold. Set alerts for London open. Anna Coulling’s VPA approach with Quantum tools on MT5 prepares you for confident decisions.
This routine turns mornings into advantage. Start your forex trading day on MT5 with structure and Quantum indicators for better results.
Applying VPA on MT5
MT5 offers excellent charting for VPA. Add volume bars to candlestick charts. Look for accumulation at lows with rising volume. Distribution at highs signals selling pressure. Quantum indicators integrate seamlessly on MT5 for enhanced visuals.
Why MT5 Excels for Multi-Market Trading
MT5 is a versatile platform that makes trading all markets easy from one account. Access forex, stocks, indices, commodities, and futures without switching brokers or software. Custom indicators load instantly. One-click execution and advanced order types streamline workflow. This unified setup saves time and reduces complexity for VPA traders.
Practical Benefits
This approach works across major pairs. Confirm breakouts or reversals with volume. Avoid false moves in ranging markets. Anna Coulling’s methodology uses VPA for disciplined entries and exits. Quantum tools make it simple on MT5.
Trade forex confidently with VPA on MT5. Its multi-market ease and Quantum indicators turn volume into reliable signals for consistent results.
By Anna Coulling
Creator of Volume Price Analysis