A huge amount of money management techniques exist for trading in the Forex. From the silliest (doubling the lot until recovering from losses) to the learned theories based on the binomial distribution.
I personally use a quite easy method about which I am going to tell you.
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Anyone, who has ever performed backtesting of EAs in MT4, noticed that the quality of the simulation doesn’t rise above 90%.
The reason is that by default, the terminal uses minute bars instead of tick data. And if an advisor performs scalping (with take-profit of 3-15 points), or use a small trailing stop, the difference of the simulation quality can greatly change the test result.
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Greetings to all!
Mechanical trading systems are as old as the markets. With the development computer technologies and the Internet in the 20th century, it has become possible to trade without leaving home, and at the beginning of the 21st century, with the advent of MetaTrader, even in automatic mode. Resources of a modern desktop personal computer allow to implement any, even the most sophisticated, algorithms and MetaEditor integrated in the MetaTrader terminal enables to write a robot even a person who knows little about programming. As a result, a paraforex market is filled with various offers to buy the miracle EAs and some of them are really worthy of attention. But how to understand whether to use one or another forex EA on real accounts? Today I’ll tell and show you how to test a trading robot on historical data using MetaTrader 4.
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Greetings to all! Many novice forex traders don’t fully understand the difference between standard (classic) accounts and cent accounts in Forex. So, I decided to write this little note to clarify it.
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Such parameter as GMT offset (or the deviation from GMT) takes place in many Forex advisors. An EA is interested in how much the terminal time is different from GMT. Many people make a mistake of thinking that this parameter depends on where they live.
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Here is information for installing, setting and using Forex Expert Advisors for Metatrader 4 and answers to frequently asked questions about working with trading robots on Forex.
First of all: What is an Expert Advisor (EA)? An Expert Advisor is a trading algorithm in the form of mql-code.
Many novice traders somehow associate EAs with something mysterious and magical. There is no magic here – an EA is nothing more than a strategy for manual trading, but automated. If a manual system is unprofitable, then any, even the best, programmer in the world will not help – the EA will trade at a loss.
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Hello! I think many of you heard not just once about the importance of keeping a trading diary. Accounting and analysis of trading activity on your account, regardless of that you are trading with the help of expert advisors or manually, is very and very useful. But if we analyze the reports from the terminal manually, it will be very long and tedious task. Fortunately, there is Myfxbook, a service statistics, which performs all analytics of your trading activity automatically. You only need to provide a service with data of reports from the terminal. We’ll talk about how to add monitoring of your account on Myfxbook and basic features of this service (it’s absolutely free of charge) in today’s article.
Many factors affect the Forex market, and among them there are economic reports, politicians’ speeches, sentiment indexes calculated by universities, etc. Let’s call them news in brief.
News varies in importance, impact on a particular currency pair, etc. Some traders enter the market at the time of the news release, and another traders on the contrary try to avoid them. In any case, it is important for you to know the time of the news release, degree of importance, value (if it’s a number) and impact.
There is an Economic Calendar section on many sites, but it’s inconvenient to use in most cases or their degree of importance of the event is not quite true reflected. I’d like to consider the most competent version of the calendar in this review.
