Location: NY (westchester county)
I pretty much only use VT and OT to trade FX.. or am testing it paper trading FX for months now.. I find it to be very suitable. However, the data feeds are very expensive if you plan on using IB or MBT to trade with so you can use your OT/VT. You will most likely need eSignal as they are one of the few services out there that provide 'Contributor Prices'. That's so your feed can match the FX prices from your broker.. WHat this means is if your prices don't match and you trade thru OT/VT - you can place trades that have different prices in OT/VT to what your broker shows..
But I like VT/OT so much I'm willing to do it this way. I have also found most of the plugin strategies work ok in FX as well. However, OT/VT is not equipped to paper trade FOREX properly as commissions are not calculated correctly. You can paper trade thru your broker though. (IB or MBT).
Altho I don't think the sky is falling, this current crisis was only a patchwork, like all crisises of the past. I think its very possible further collapses are ahead in the near future and slow economic progress.. Not just b/c of economic reasons - I mean every type of socio-political issue. How much gain is actually possible? As we all study Technical Analysis, we know Financial Markets must move up and down to equal pressure for both supply and demand. the same forces apply to the overall economy. yet this patchwork didn't fix our underlying greed to borrow more money and continually use up nearly every natural resource this planet has to provide. To me, I look at the past 125 years of growth -- We've had our ups and downs, but we surely have had more ups than downs.. History tells us this consistent swing to the upside (sort to speak..) can not be sustained.
Ok, i'm getting way to philosophical and political.. But this is actually a reason why I love VT so much - is b/c you could see all this information in the market..
So, for example: Let's take the DOW - we see price moving up and down everyday and its reported in the news. That in itself is a form of Analysis to base your investment decisions.. This DOW30 being reported in the news is like the Battle of the Bulge in WWII.. Now, looking at these stocks in a chart, or in a "Focus List" such as we have is like like studying different battles simultaneous, but separate in study.. Add VT and see the entire market on a map is like having an overview of our planet during WWII and we could zoom in and out of the different conflicts/battles of the war for further study, while zooming out to see the whole picture?
I think that made sense... LOL!
Thanks for your market insight and your take on the Weekly Chart of SPX. I enjoyed reading that and am currently checking into that myself.