Posts found: 5

If you are new to the forex world, a good way to quickly be updated on the happenings in forex trading is to join a forex forum. A forex forum allows you to interact with traders, all of whom are at different levels of experience. These forums also allow you to ask questions and learn about the best techniques to be a good trader. Here are some of the forums you can consider joining:

Forex Factory Forum

This forum first appeared in 2004. It is designed around the trader to ensure that he or she gets as much information as they can to help them become a successful trader. This is currently the most viewed forex forum online. The forum is open to traders from any part of the world. They are allowed to share their views, hold debates, learn from others, teach others, and even talk about past trading experiences.

MT5 Forum

Users of the MetaTrader platform use this forum. It gives users the chance to benefits from the expertise of others in the community with the focus being the MetaTrader platform. While this forum is dedicated to MT5, it is common to find discussions around the MetaTrader4 platform and forex trading in general.

DailyFX Forum

DailyFX is a news and research site. It offers news about the forex world from all parts of the world. You will find reports from analysts about the latest changes in the forex world. These analysts also provider traders with a technical analysis of what is happening in the trading world. DailyFX also provides a breakdown of the main market movers and detailed explanations regarding technical, political, and economic factors that cause changes in the market.

The DailyFX Forum is offered in French, German, English, Japanese, Spanish, Swedish, and Italian, just to mention a few. It is a very active forum and features 24 sub-forums. These forums are placed under categories such as Trade the Market with Analysts, Traders Lounge, Analyst Research, FXCM Account, Support, and Automated Trading.

Forex TSD Forum

Instead of showing the various categories on the home page, Forex TSD Forum places to the busiest and latest discussions on the home page with a link to the sub-forum. This ensures that traders do not run the risk of posting questions in the wrong section or missing important discussions. The main draw of this forum is that it covers many different discussions. Its busiest sections are those on Harmonic Trading and MT4.

Babypips Forum

BabyPips, one of the top educational sites in the forex trading world, runs this forum. This forum is mainly focused on beginner traders. However, experienced traders might find some discussions that are of interest to them. This is especially so if they visit the Analyst Arena section. The forum is divided into various sub-forums, with each one focusing on a specific section such as day and swing trading strategies, fundamental analysis and technical analysis, and automated trading.

ForexPeaceArmy, EliteTraders and many more.

If you are new to forex trading, pick a forum that you feel is best suited to your needs and start growing your knowledge.

Go to forum: ► 3,000 + Open-Source Forex Indicators Go to post

Ever wondered why you were not making daily profit and gains in the Forex Trading market? It is probably because you were reading the charts wrong and following the wrong strategy, there is no place for free riding and gut feelings in the world of Forex trading: you need to be cutting edge and follow your strategy to the end no matter what happens on the way. You need to ride through the lows and wait for those amazing highs to sell sell sell, we always like seeing our profits grow don’t we? Here are some of the best Forex Trading strategies that work that give you the best entry signals and the most gains possible.

Scalping

Scalping is the way of the day trader, short and sweet trades where you only hold for a couple minutes maybe even just seconds to gain that little profit. You need to keep your eyes glued to the EA charts and follow the market like a hawk because a scalper seeks to beat the bid quickly and skim just a little bit of profit. It is a hard trade style to pull off in the market of Forex but if you you want to be ahead of the game and be that metatrader you always wished you could be then this is a style you may want to consider. Just stick to the charts and follow the profits.
Day Trading

As the name highlights these are trades that you will exit before the end of the day, you will never be long term holding when you apply this strategy. This gives you the best chance for the trade to be successful and the less chance for the Forex market to take a dive in the other way. Your trades may only last a couple of hours, so you will want your price bars set to just one or two minutes.

Swing Trading

This is for traders that have nerves of steel and who can read Metatrader charts so well it is as if they were born to trade in the Forex markets. You have to hold your position for several days and only look for the profit short term price patterns. You will have your charts set to look at bars every half an hour or maybe even an hour, if you miss the first swing of highs, well don’t worry it always comes back around in the end.

Positional trading
This is for the long term holders the bag grabbers and the currency whales, following the long term major trend changes. Your goal is to seek the maximum amount of profit in just one trade, therefore you will typically just look at the end of day charts.

 All that too much work?

Can’t find a strategy that sits well with you and does it all sound like too much work to study the Forex market to become the best online trader? There is a perfect strategy for you to dominate the foreign exchange market and that is with the best automated software on the market which you can find here.

Go to forum: ► 5,000 + Open-Source Forex Robots Go to topic Go to post

Amazon offer the first year of their subscription for FREE, and this means that if Algorithmic traders deploy their Forex Robots at Amazon they save some cash on VPS hosting.

A lot of traders out there do recommend AWS. But I’m going to take a different stance

DON’T MISTAKE AWS FOR WHAT IT’S NOT

Amazon Web Services is designed for businesses, and NOT for retail traders.

The only good advantage of AWS is that 1st year is free.

The bad thing about it is that:
1. NO SUPPORT

2. ONLY 1GB RAM: 
In this case Server Stability will depend on the EAs. If you ask me, 10 on each MetaTrader is a bit of a stretch for this type of server… As soon as one of the Robots decides to run a demanding calculation, you’ll get a system overload, and… well, this is the point you will need to call support. Hold on! There is none: refer above (you’re screwed).

3. AFTER 1ST YEAR: PAY-PER-HOUR

4. NOT CHEAP

I don’t have anything against Amazon VPS, I think they are doing a great job in the space of Data Analytics. 
However, don’t mistake AWS for what it’s not. AWS is designed for businesses, not for people.

I Wish You All Happy Trading

Go to forum: ► Forex VPS Go to topic Go to post

The first thing you must protect is your copyright, also serves to ensure that users have the opportunity to get feedback from you. It can also be protected with unauthorized use, by time and against Decompilation. Hold an application called MQLEnigma. Best regards.

Go to forum: Ask the Forex Expert Go to topic Go to post

vesalius_neuro@yahoo.com

Details:
My EA trades "one cycle at a time".
Each cycle lasts one Bar. For example, a one hour eur/usd Bar.
Then a new cycle will start, lasting one Bar. (Usually I keep the time frame constant, but the currency pair might vary.)
So, let's say that we are ready to start a new cycle in Bar[0] of a 1 hr eur/usd.

So, we start the cycle...
First, we make sure that there are no open orders at Open[0].
Then, at Open[0], the currently achieved "highest high price" for Bar[0] is the Open[0]; and the currently achieved "lowest low price" for Bar[0] is the Open[0].
Cycles can use a "half channel" method, or a "full channel" method.

With either variant method, only a single order will be active at a time.
For now, we'll walk through the "half channel" method.
We put a "half a channel" width "threshold trigger line" above the highest high price, achieved so far in Bar[0].
We also put a "half a channel" width "threshold trigger line" below the lowest low price, achieved so far in Bar[0].
Visually:

-------------------------------- Buy Trigger

________________________________  Ask


Sell trigger (same distance)

So:
As time passes, one of these trigger lines will be broken/pierced.
For now, assume that the upper trigger line was broken through.
Thinking that this (micro) trend might hold, we send out a Buy order with a TP and a SL.
Whichever way the Buy order exits the market, a "half channel width away" threshold trigger line will be placed above the current (new) highest high price achieved in this Bar.
And a new Buy order will go out only if this new threshold is passed.

The Forex educational web site "baby pips" recommends that for scalpers, the SL to TP ratio should be 0.7 to 1.
... Since (on the average) prices are as likely to rise as to fall, the SL to TP ratio tries to produce a small gain, on the accumulated trades.
The SL and the TP might be both a fixed number of pips, but I favor TP = (momentary_spread times a_TP_constant) and
SL= (momentary_spread times an_SL_constant).
(Meanwhile, as a technicality: ENC brokers do not allow TP and SL to be set as the OrderSend command goes out in mql4. So an OrderModify command establishes the TP and SL subsequently.)
And via (OrderModify), one can [in the abstract] get Trailing Stops to lock in gains already produced.
And (further), OrderModify-s can advance the TP also, more far away from the original SL.
Should one continually advance the TP, likely one will exit with a trailing SL.
But, the continuous "one more spread, one more spread, one more spread" will not be charged to the EA as it follows a (micro) trend;
[versus entering a trade and exiting with a fixed TP, entering a new trade and exiting with a fixed TP, entering a new trade and exiting with a fixed TP, as a (micro) trend continues].

Trades in the Sell direction essentially mirror the procedure for the Buy.
A "half channel width away" trigger threshold line below the currently achieved lowest low price will determine when
a Sell order will be produced.
Again, regardless of how the Sell order fares, a " half channel witdh away" threshold trigger below the current lowest low price will determine when the next Sell order will be produced.
(The TP, SL and Trailing Stop strategy will be as for the Buy, but in the down direction.)

**Things to note:**
The highest high achieved price ultimately becomes the High of Bar[0], while the achieved lowest low price eventually becomes the Low of Bar[0].
With the half channel method, the two threshold trigger lines will recede from each other (and the Open) during the time allotted to the Bar.

If a Day time frame Bar was used instead of a 1 hour time frame, the market might rise for some hours, and then start to fall. (And the "Sell trigger"  for the Day time frame would not be activated for quite a while [with the half channel method], waiting for prices to recede.)
So, using a one hour time frame for the eur/usd (vs a time frame of a Day), prices could rise for a few hours. But as prices begin to fall, the one hour time frame re positions the Sell threshold repeatedly; in our example, away from the (still far away) Open of the Day. Making a one hour time frame "better" than a one Day time frame [when the half channel method is used], to react to price changes.

Two more things for now:
1, The EA should not send new orders out close to the "expiration time" of Bar[0] with the half channel method.
(This, since there might not be enough time still left for the prices to move a spread toward the TP, while the Bar is still active as Bar[0] instead of having become Bar[1].
And since the next active Bar will close any open orders, the EA would "lose a spread" on the very last order, if the trade order was close to Bar[0]-s expiration time.)
2, The "top and bottom threshold triggers receding from each other" with the half channel method can try to be alleviated with the "full channel" (micro Stop and Reverse) method.

With the full channel method, the eur/usd one hour time frame proceeds as follows:
At the Open of the Bar, close any outstanding orders.
Put a "half channel width" trigger threshold line above and below the Open of the Bar.
Again, one of the trigger lines will be pierced by the changing prices.
For illustration's sake, assume that the Buy line was broken by rising prices.
So, a Buy order goes out, with a TP, SL (and maybe a Trailing Stop eventually).
But now, after the first order of this Bar's cycle exits (with a loss or a gain): a half channel trigger threshold is placed above AND below the OrderClosePrice.
Prices will again rise or fall, and one of the triggers will be activated and depending on which threshold was pierced, a Buy or Sell ticket will try to be produced.
Regardless of a gain or loss on the ticket, a half channel width threshold trigger line will be placed above and below the OrderClosePrice.
Again, one of the triggers will be activated, and a new order will go out: Buy or Sell.
And again, the half channel triggers will be placed above and below the OrderClosePrice, regardless of the ticket's gain or loss.
This process is repeated until the cycle finished in the Bar's allotted time (except for the last few seconds, when there is not enough time left for the prices to travel a spread toward the TP, so no new order can be issued as the Close[0] is imminent).

Testing the half channel and the full channel ideas for (at least) a 100 trades each is laborious, manually.
But the Meta Trader's Strategy Tester can do this for a week's worth of data, effortlessly.
(Once the EA is coded.)

With the half channel method, a "filter" was in place [higher high or lower low], that sort of established an "artificial trend".
With the full channel method, the  (unfiltered) micro trends themselves are supposed to generate more gains than losses.
{Maybe/hopefully.}

**Three more things:**
1, the "anti Martingale"/"external Stop Loss" method
2, the multi currency filter
3, "position sizing".

"Anti Martingale":
The EA keeps track of the highest account balance and equity achieved after any deposit or withdrawal.
Should the draw down (equity or balance) be lower by xx% from these values, the EA stops trading and sends/produces Alerts.
The EA-s owner can wait (a day?) or activate a "cent account" to see how the EA would react to the problematic market.
The owner of the EA might restart the (stopped) EA at some level of funding and after some time delay...

Multi currency filter:
On just about any time frame below a Day and any currency pair, the chart will show small, medium and large size Bars.
And, small Bars usually occur "many at a time".
And the half channel (and hopefully) the full channel method (potentially) profit more from larger Bars, than from small Bars (a relatively flat market).
The "diversified multi channel filter" tries to avoid entering (projected/future) small Bar[0]s.
So: Look at Bar[1] of ten different currency pairs, as the time for the Open of Bar[0] arrives.
If a full lot was (hypothetically) bought at the Low of each of these Bar[1]s and sold at the Bar[1]'s High, (likely) all of the monitored currency pairs would have made different amount of $$.
So, select the top four pairs that made the most money via this "Bar[1] maximum possible gain" test.
It is very likely that for these four pairs, ihe coming Bar[0] will not be a small bar.
So, for the next cycle that will last the duration of the new Bar[0], trade these all of these four (diversified) currencies simultaneously. (Half channel or full channel methods.)
...Have the EA give each of the four currencies 1/4 as much $$ as the single currency got per trade, when the EA only traded one pair at a time.

Position sizing:
When one says: "Have the EA give each of the four chosen currency pairs 1/4 as much $$ as when only a single currency pair was traded on a single Bar and cycle", the EA has to produce actual numbers for the various OrderSend commands per currency pairs traded.
(Incidentally: the "common wisdom" in America is that the sum of the total orders in the market should be about two percent of the AccountBalance for a new system. Later, this percentage might be increased.)
An example of how to calculate lot sizes for various currency pairs follow.
http://learningcenter.fxstreet.com/educ … tion-size/

(The half channel triggers are a bit like a "not yet overbought" and "not yet oversold" signals.)
The full channel threshold triggers surround the price and hopefully anticipate micro trends.
The multi-currency selection process should increase the EA's yield, by avoiding flat markets.

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