Entries Tagged as 'forex trading platform'

Metatrader Expert Advisor: What is the Best Choice?

Any trader who does not know about a Metatrader expert is completely unaware about the success it helps in the forex market. Now, there is the MT4, which is basically is the most popular for the winning traders. A proof to this statement is the great number of traders and companies around the world that utilize this so that they will be able to get great profits.

Metatrader 4 or MT4 is an online platform that is designed to help traders and institutions to deal with forex, CFD and others. So, if you are a serious trader who wants to gain more money then you should only choose a forex robot, which is solely derived from the MT4 platform such as the MT4 Expert Advisor. If you are completely new in the world of forex, you can make use of a demo account for a month or two so that you will be familiar with the environment. Usually, these MT4 programs come with a 60-day guarantee for your money so when you are not satisfied with the results, you can simply give the package back to the manufacturers.

Once you have acquired your software, you can now go trade live with the other traders using your real money and not just the one you have used in the demo account. This is where everything starts. You may gain lots of profits if you have a great strategy and it will really help if you have a great Metatrader expert advisor. You may wonder what the deal with this MT4 EA is since you can do the trading for yourself anyway. However, you have to sit in front of your computer monitor for several hours everyday so that you will be able to watch the important events that are taking place in the world of forex and all the other major news. Everything is in your hands. Thus, you do not have enough time to spend with your family, friends and even to yourself.

A Metatrader EA will give you enough time so that you will be able to dedicate more attention to your kids and even your hobbies. This is what most traders want since they also need some time to sleep and rest their minds so that they will feel refreshed and not stressed out the next day. The MT4 platform offers to do almost all of your tasks when you require it do so. You can visit sites such as the http://iticsoftware.com which will guide you in choosing the right software for a trader like you.

Regards,

Boris

Secrets of MT4 terminal (part 2)

Putting metatrader indicators one over another in the indicators window

You can place several metatrader indicators or copies of one metatrader indicator, but with different parameters, in one window. View -> Navigator. We open the metatrader indicators menu, click on the necessary metatrader indicator by the left mouse button and drag and drop it in the metatrader indicators window. This method is quite approaches for indicators, which have an identical scale (for example, 0-100): Stochastic, RSI, etc.

metatrader indicator's window

The transaction from history on the chart.

View -> Terminal -> Account History. Click on the order, drag and drop it on the chart of the same instrument (if you drop it on the chart of another instrument, it will be substituted by the chosen one).

The order is displayed in form of arrows of opening and closing the order; it is connected by a section of trend line. Levels of Stop Loss and Take Profit are displayed on one vertical axis with open price.

If you drag and drop the order, pressing the “Shift” key, the whole trade history of this instrument (believe, it is very demonstrable) will be displayed on the chart.

metatrader transaction window

Fast transition over the schedule.

You can use the fast metatrader navigation line for convenient positioning of the chart on necessary time (very convenient to use in full-screen mode, F11).

Disable auto scrolling of the chart. Press “Blank” or “Enter”. Write necessary value in the fast navigation line and confirm it by pressing “Enter”.

[time (hours:minutes)]
example: 12:00
[date]
example: 14.01.2007
[date] [time]
example: 14.01.2007 12:00

Symbol and period of the chart are changed in the same way.

[instrument]
example: FDAX
[period]
example: M15
[instrument],[period]
example: FDAX,M15

mt4 transaction

Arrangement of instruments in the metatrader terminal window

It is convenient to group charts in the metatrader terminal window (for example, yen pairs, metals, oil and gas, grain, etc.). If you opened many charts in your MT4, you can group them. In order to do it you should click on the instrument name by the left mouse button (below, where all open instruments in the form of a horizontal line are situated), and then drag and drop it in the necessary place on this line.

Metatrader Quotes window

By pressing F10 you open metatrader quotes window, those instruments, which you see in the “Market Review” window.

If you mark the item “Always on top” in the menu of this window, you can track quotes constantly, having moved them somewhere in a corner, so that the window doesn’t hinder work with other programs. The font and color gamma can be changed in the “Properties” contextual menu.

metatrader popup quotes

Metatrader Standard template

In order to make so that each new chart in the metatrader terminal is opened according to your options and preferences (color, indicators, type of chart, and so on) you should do the following. As a matter of fact, adjust those preferences and save the received template (Charts -> Template -> Save Template) as default.tpl.

Metatrader Lot size

By default, there are 13 variants of lot size (from 0.01 to 8) in drop-down menu at setting up an order. It does not mean you cannot choose the desirable lot. You should only edit the value according to the size you want to have, or to set defaults in options (Service -> Options -> Trade).

metatrader orders

Crosshair

Press the middle mouse button or the combination of keys “Ctrl+F” for fast activation of the “Crosshair” object. This property can be very useful in full-screen mode.

Ruler

It is a very useful tool. You can quickly see the distance in points and the number of bars between two points on the chart. Activate “Crosshair” (press the middle mouse button), click in the necessary point by the left mouse button and move the crosshair to the second point. Numbers in line indicate the following: the number of bars / the number of points / bid in the second point.

metatrader order modification

Order modification

Double-click on the order in area, where stop-loss or take-profit is specified, for fast order modification, when the “Trade” tab is opened. Double-click in other area of the order will open the “Buy by market” window.

Market review – fast addition of instruments

In order to add an instrument in the “Market Review” window quickly, you don’t have to open the whole list and to search among hundreds of forex pairs, futures and shares. You just need to double-click in empty area, type a symbol manually in the appeared window, and press “Enter”. The instrument is in the list.

Close a part of position

You don’t have to close the whole position; it is possible to close the position only partially. In order to do it you should click on the “close position” item by the right mouse button, and type the size of a lot, required for close, manually.

Compression of the chart vertically

For this purpose you should move the mouse cursor to the right, in the area where price is shown, until the arrow becomes bidirectional. Grab the price and drag it downwards. Compression functions on all timeframes of the chart. Double-click in the area of price will return the chart in initial state.

Types of passwords in MT4

There are two types of passwords in MetaTrader: the password of trader (the main password) and the password of investor (viewing of open positions, account history, and balance without the rights to trade).

Distinctive features of the investor’s password: idle F9 key; the terminal does not react on clicking on positions; there are no items for controlling positions in the menu of the right mouse button on the “Trade” tab.

Change of trader’s password

Menu -> Service -> Options, the “Server” tab. Press the “Change” button, fill the “Current Password” field in the opened window, and also type the new password twice in corresponding windows below. The window is closed after pressing “Ок” at successful change of the password. If something is done incorrectly (for example, only one kind of symbols, mistake at repeated input of the new password) the terminal will not react and the window will not be closed. The password can be changed only when there is a connection to the server; the option does not work without connection to the network.

Change of investor’s password

The procedure is the same, but radio button should be set in the “Change the investor’s password” position.

Trailing stop

It works only when there is connection to the server. Trailing stop is activated only when the profit exceeded the given value; it will move after the price on the specified distance until the price makes retracement and closes position. The order with activated trailing-stop is marked by the “Т” letter in the left corner of the line in the “Terminal” window.

How to make a copy of line

For example, to draw the channel, it is enough to draw a trend line, double-click on it and drag it, holding the left mouse button and the “Ctrl” key. The received duplicate will be parallel to the basic line (well, almost parallel, there will be curvature on seniors timeframes; it is incurable “disease” of the Metatrader).

Chart picture

In order to save the current chart in form of a picture, you should choose the “Save as picture” item in the menu by the right mouse button, and then to choose required values from the offered ones.

Cancel of object removal

If you have accidentally removed any important line, don’t be upset. You just need to press “Ctrl + Z”, and this line will be restored.

If you have accidentally closed a chart with a full set of options, you can restore it from the menu File -> Open deleted.

Best regards,

BJF Trading group

http://iticsoftware.com

How to use Metatrader 4 setting file.

Metatrader 4 setting file format *.set

Loading metatrader Setting File for Back Testing.

1 Open Metatrader 4
2 Add Metatrader Expert Advisor to the chart
3 Press F6. Tester window will open.
4 Press “Expert properties” and select “Imputs”
5 Press “Load”
6 Select Metatrader Setting file and press “Open”
metatrader setting file

Loading metatrader Setting File for Trading.

7 Open Metatrader 4
8 Add Metatrader Expert Advisor to the chart
9 Press F7. and select “Imputs”
10 Press “Load”
11 Select Metatrader Setting file and press “Open”

Choosing a Forex Online Broker

What do you need comparing:

  1. Trading platform.

Forex brokers offer many different trading platforms: Java trading platform, html forex trading platform, MetaTrader 4, Tradestation, SaxoTrader, NinjaTrader, Advanz Auto4X, e-Signal, ProSignal, NeoTicker and etc. In our opinion the best free trading platform –Metatrader 4.

  1. Net Capital and Quality Institution

Forex brokers should be registered with the Futures Commission Merchant (FCM) should be a member, National Futures Association (NFA) and regulated by the Commodity Futures Trading Commission (CFTC). This information should be appear on the forex broker website.

You can find information about your broker net capital on www.cftc.gov

For example. Net capital info:

http://www.cftc.gov/files/tm/fcm/tmfcmdata0704.pdf

Forex Firms with Net Capital > 5, 000, 000

FXLQ ($36,000,000)

Interbank ($7,000,000)

FXCM ($51,000,000)

GFT ($48,000,000)

Oanda ($44,000,000)

FX Solutions ($20,000,000)

Gain Capital ($20,000,000)

CMS ($10,000,000)

Forex Firms with Net Capital < 5, 000, 000

One World Capital ($1,105,000)

Velocity4X ($1,587,000)

Direct Forex LLC ($1,523,000)

FiniFX ($1,464,000)

Forex Club ($3,304,000)

GFS Futures & Forex ($3,074,000)

Nations Investments ($1,699,000)

Royal Forex Trading ($1,102,000)

SNC Investments ($1,565,000)

MB Futures ($3,080,000)

Money Garden ($3,399,844)

United Global Markets (Bankrupt)

  1. Spreads.

Spreads (in pips) is the difference between the price at which a currency can be purchased (Ask, Buy price ) and the price at which it can be sold (Bid, Sell price) at any time. Lower spreads save you money!

4. Account Types and Leverage Options

Brokers as a rule offer a lot of types of accounts: mini account (minimum deposit approximately 250 USD, Leverage approximately 250:1 ), standard account (minimum deposit approximately 2500 USD, Leverage approximately 100:1) and etc.

The price deviations on Forex Market (the sources of profit) are merely fractions of a cent. Leverage, showed as a ratio between total accessible capital to actual capital ( is the amount a broker will credit you for forex trading.)

Example1.

Leverage 1:250 broker would credit you $250 for every $1 of you deposit.

If you deposit = 1000 USD available for trading: 250000 USD

Example2.

Leverage 1:100 broker would credit you $100 for every $1 of you deposit.

If you deposit = 1000 USD available for trading: 100000 USD

Lower leverage means lower risk!

Regards, Boris F.











 
     
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