Posts Tagged ‘EA’
Friday, August 27th, 2010
Author: Pips Dominator
When a doji candlestick is spotted in the market, first look back to see whether there has been enough movement for you to profit from a retracement. A retracement may only be about one third of the distance since the last low. If that gives you enough room to cover your spread and allow for a little slippage, you can go on to step two.
Step two involves checking an oscillator to be certain the current price is shown as oversold or overbought. An overbought or oversold market and the doji is an indication that you can get involved. You may also glance at the trading volume. If trading is trailing off, then this is another sign a reversal could be about to occur.
When you open a trade, be prepared at first for a retracing. Either set a limit order at the point that you would expect a short term retracement to reach, or watch and do this manually . With the other half, you could move the stop to a no-lose position close to your opening price, and let it run in case a major reversal occurs.
Of course, there’s always a risk, as with any type of hopeful trading. Therefore we endorse trying out these doji candlestick trading strategies in a demo account so that you know the way to operate them successfully before going live.
Tags: currency trading, day trading, EA, expert advisor, forex software, forex strategy, forex tips, forex trading, learn forex
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Friday, August 13th, 2010
Taken from Forex Outbreak
Managed currency exchange accounts can be a way to maximize ROI for anybody who wants to invest in the lucrative currency trading market while not trying to do their own trading. Currency trading is not very easy. Added to that, you have to be a certain sort of person to enjoy the stress and chance of trading.
Managed currency exchange lets you have somebody else trade for you. For anybody who isn’t a professional in finance trading systems, this is likely to make bigger profits that you might make for yourself. Naturally, you will have to pay something for the service. Even so , the general public starting out in foreign exchange trading for themselves really lose money, so paying 10% or 15% of returns to a management company could still end up being a very smart deal.
Naturally there’s a risk even with managed foreign exchange trading accounts. The forex market is unpredictable and companies can’t guarantee returns. In reality if you see an advert promising a certain return, be particularly wary. Usually there will be something in the fine print to elucidate that returns are not really guaranteed and you can lose money.
Tags: currency trading, day trading, EA, expert advisor, forex software, forex system, forex trading, trading strategy
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Thursday, August 5th, 2010
Posted by Forex Hippo
The EUR is administered by the EU Central Bank (ECB). Due to its standing as a multinational regulatory bank, its remit is a little different than the US Fed Reserve, for instance.
This implies that the ECB has a rather more hawkish approach to IRs. This means that they tend to favor a rise in IRs. They’ll put the IRs up faster than the FR would when prices rise, and are less sure to lower them when costs fall. This means that changes in something similar to the retail price index in Germany will not affect EUR IRs and therefore the cost of the EUR in the same way that the same situation in the US might affect the price of the buck. The others have opted not to join the Eurozone for their own reasons. They have retained their own national currencies, the UK pound and the Swiss franc. Additionally, many countries in the ECU have a little GDP and aren’t great business forces. This means that the basic factors affecting the price of the EUR rely principally on the business situation in just 4 EU states. Those countries are Germany, France, Italy, and Spain in that order. Together, they produce seventy five percent of the GDP of the Eurozone. Hence the forex trader who is involved in euro trading wants to look out for major business statements in those four states while understanding that the economic situation in other EU nations will have far less of an effect on EUR trading.
Tags: currency trading, day trading, EA, expert advisor, forex tips, forex trading, learn forex, trading strategy
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Thursday, July 29th, 2010
Written by Forex Legend
First you may use backtesting. The last six months or whatever period you select. This does not take too much time because you can swiftly scroll thru historical charts looking for the signals that would have led you to make a trade if you had been operating your system live at that point.
Because of this, it’s best to backtest over the longest possible time and maybe split your tests so that instead of testing, for instance, one whole year when the market might have been particularly powerful or weak, take the 1st quarter of year 1, the second quarter of year 2, etc so that you test one 3-month period from annually of four years. This gives you a good period spread without requiring you to cover 4 entire years. This method is slower because you’ve got to wait for your signals to come up in reality. On the other hand, it simulates real live trading techniques with the chance of slippage and other things which aren’t gong to show up in back testing.
Remember that you can test several systems at the same time in a demo account, provided you keep separate records of their performance. Or you can use several demo accounts. In this way you’ve got a better chance of ending up with 1 profitable system at the end of your period of testing. Currency exchange demo accounts also have got the edge that you are developing your live trading abilities and familiarity with a software platform and charting service at the same time as you are running your tests. This gives you solid real time training to prepare you at present when you go live with real money. Most foreign exchange brokers will provide free demo accounts which you may use to test foreign exchange systems.
Tags: currency trading, day trading, EA, expert advisor, forex software, forex strategy, forex tips, forex trading
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Saturday, July 24th, 2010
Post courtesy of Oracle Trader
forex trading books are a standard item on the shelves of any new or experienced currency exchange trader. Nowadays they also come in PDF form meaning that they can be stored on a hard drive as well as on the bookshelf.
Currency trading books can contain lots of helpful info there is however also a danger of over investigating or being tempted to switch systems too often if we read too many of them. It is natural to need to try out what we are learning and it mostly appears that the latest thing we are hearing about will be the best . So while these currency trading books, ebooks, guides and courses can be particularly valuable, particularly for beginners, it is also necessary to select thoroughly and not give our time and attention to everything that we see. In many cases you can find this sort of information for free, either in a free electronic book or on web sites, but be sure to cover it all before moving on to actual training. Most foreign exchange books will then describe 1 trading technique. Here’s where they vary because some will attempt to cover each sort of system using all of the possible indicators, so you can pick one that suits you.
Tags: currency trading, day trading, EA, expert advisor, forex strategy, forex system, forex trading
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Saturday, July 3rd, 2010
Written by High Velocity Market Master
Scalpers are infrequently in and out of the currency market in seconds. Keeping to the signal to close a trade is just as critical as waiting for the signal to open one.
Some brokers don’t allow scalping secrets to be utilized in your account with them. This is as they can make losses if you are successful. Others are fine with it. So make the effort to ask around on forums for a broker who will accept this. In the first place, you’ll need to be online from the moment that you open the trade until you close it. This might seem obvious but some other types of foreign exchange trading strategies only need you to check in once per day and see what has been taking place in the charts in the past 24 hours. These are longer term systems that usually follow established trends. So a person who has very little time available might not wish to get into day trading systems.
You also need to make sure that the time you spend online is freed from diversions. This may mean closing the door of your den and not allowing the children in. It suggests you most likely shouldn’t do day trading while you are supposed to be doing another desk job. It suggests closing your email customer and any tabs of your web browser that are not related to your trade ( particularly forums ). It means not thinking you can play a quick game of solitaire while waiting for the next surge in the currency price . Some traders hate day trading and scalping, and others wouldn’t trade any alternative way. The best way to find out if it is for you is to get a hold of a good currency day trading system , study it until you understand it comprehensively, and try it out in a demo account..
Tags: currency trading, day trading, EA, expert advisor, forex robot, forex software, forex trading, trading strategy
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Tuesday, March 23rd, 2010
I see quite often different robots being created to trade on any pair. They’re never developed or even tested on all currency pairs. Typically there’s only one currency pair and it’s created and tested on it. But traders still use it on different currencies and see totally different results. However, I I suspect it only makes sense to have a robot made for one currency pair and trade with it on that one special pair all the time. That’s what Forex Brilliance developers think too and they have developed a suit of expert advisors that trade on particular major pairs. There’s no bafflement as regards what to trade it on and whether it should work better on one currency pair or another. I believe more developers should use this practice. Not only that, when you’re trading manually, you should consider that to be true for your manual system also. It’s a matter of chance, after you test and modify a system on one major pair, it’s likely to perform better on it. Of course, I do not say that there are no systems that are universal, but it is’s a lot more difficult to create and run such a robot.
Tags: automated software, currency trading, EA, eurusd, expert advisor, forex bot, forex trading, forex trading system, trading software, trading system
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Thursday, February 18th, 2010
You’ve read it correctly, the headline says one currency, not a pair. Most frequently forex traders concentrate on one currency pair, however they miss a lot of trading positions on other pairs. There is a middle ground and it’s possible to focus on one currency of several pairs.
One Forex EA developers have decided to do that and made the GBPBOT. This bot works on the GBP currency and its pairs. The benefit that it provides might not be immediatelly plain, though. Of course, traders are used to trade the pairs, not single currencies (that doesn’t even sound correct), so why concentrate on one all of a sudden?
The answer can be found in the idea of relationship between different currency pairs. You see, the pairs where the same currency is concerned are related and behave in a similar fashion. That is to say, if one pair is trending, others that inculde the same currency could be trending as well. But that won’t be that clear so we use that relationship. And you can understand where it’s useful for currency trading robot creation.It is an additional variable that plays the part in profitability.
Tags: automated software, currency trading, EA, expert advisor, forex bot, forex trading, GBP, review, trading software, trading system
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Saturday, January 30th, 2010
Here’s something new. I am not sure if it’s any good, but perhaps may be interesting nonetheless.
FRWC Royal Trader consists of top 5-7 currency trading bots from the Forex Robot World Cup competition that is about to end. Not only do these bots are the top performers, they run with a constantly updated live statements available for everyone to see for almost 2 months. In addition, it is sponsored by FXCM and Boston Technologies.
FRWC’s Royal Trader will consist of the top 5-7 winning Expert Advisors from the competition according to the final performance results of the live trading phase. You will get lifetime access to a members area which will include contact information for email, ticket-based and telephone support, a knowledge base, frequent live webinars, special guest interviews, an expert advisor Lab and more.
It will also include a special brokerage firmage bonus sponsored by FXCM, as well as installation assistance and support via phone, email, live webinars, videos and/or PDFs…
This appears to be interesting.
Tags: automated software, currency trading, EA, expert advisor, forex bot, forex trading, review, trading software
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Sunday, January 24th, 2010
A new foreign exchange Forex robot:
Pip Android is the “most intelligent Forex system” that promises remarkable accuracy and profitability. Most importantly, it will show live trading results to back up its accuracy, once it goes live.
Pip Android’s main features:
Provides live results updated every 10 minutes.
Trades in different market conditions (ranging, sideway, choppy, and trending markets).
Has a profit and drawdown protection system…
Be sure to check it out.
Tags: Artificial Intelligence, automated software, currency trading, EA, expert advisor, forex bot, forex trading, forex trading system, review, trading software, trading system
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