Currency market
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We've been running trader contests on our websites for over 4 years. During this time we have cooperated with different companies, tried many variants of rules and prizes, experimented and searched for the perfect contest for everyone. Being in fact a bridge between a broker and a trader I wondered what was the most successful contest. In order to make the topic more interesting, I asked companies and traders - our regular contest participants - questions about what it should be, how it affects trading on real accounts and whether it is worth participating in contests at all. Let's see what happened. Why brokers do or do not do...
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Sooner or later any trader comes to the idea of using Expert Advisors. By typing "trading advisor" into the search engine bar a trader receives an unimaginable number of links to resources offering trading robots. The classification of Expert Advisors is quite extensive: scalpers, martingale, grid traders, trend traders and so on. We will divide all existing Advisors on the Internet into categories of absolutely different plan: free, licensed and pirated (hacked) robots. With free Expert Advisors, everything is more or less clear: they have either worked out long ago, or their further development stopped for some reason. So let's consider the advantages and disadvantages of using the last two categories: paid licensed and cracked Expert Advisors. Why traders prefer pirate EAs? These days...
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In the last article we started talking about a coaching session with one of our Trader's Club members. We talked about his desire to travel and the real need for it. To recap the topic of the session: "What are the traders' expectations from trading in the market and what prevents him from succeeding?" Fears from the outside: Testing brokers without interruption It's worth dividing a trader's fears and concerns into two components: external and internal. We will begin with the external ones, namely the desire to shift the responsibility for the losses to others. We're going to have a dialog with the trader. - What prevents you from being successful right now? After all, you have strategies, you've tested them, they bring...
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New Year's holidays are approaching, and most traders are preparing to end the trading year, counting profits and losses. The time of thin market is coming - the time of big profits and lost deposits. What is a thin market? The classic definition of a thin market suggests that it is a market with a small number of participants, low volatility, low trading volumes and, as a rule, wide spreads. In simple words, a thin market is a time when the basic law of supply and demand is almost non-existent in the market. Liquidity is lacking because there are very few buyers and sellers, so any trade with more or less decent volume forces the price to overcome the number of points for which at normal times it was...
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It's no secret that learning is a time-consuming and labor-intensive process. However, scientific progress does not stand still, and with the advent of computers mankind in general and traders in particular have a lot of opportunities, which previously could only be dreamed of. Now traders can use all the power of computer analysis to get super-fast and incredibly accurate results. A real revolution in trading has been the emergence of special programs designed to test both manual strategies and Expert Advisors on historical data. How the strategy tester works Trader downloads the program, downloads historical data of a broker, chooses a date from which he wants to start the test (to the...
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In this and the next article we will talk about the coaching session with one of the members of the Traders Club. The topic of the session was "What are traders' expectations from trading on the market, and what prevents traders from succeeding". It consisted of four parts: What goals do you set for yourself in life? Why and what are your expectations from trading in the market? What prevents you from moving forward - what fears and concerns? What do you need to do to reach your goals? These seemingly simple questions, but the problems are already evident at the very beginning. Setting a goal for the trader - half of the success In this case, the main desire of the participant of the session (let's call...
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Having "suffered" from free -advisors and technical indicators promising a profit of hundreds and thousands of dollars by the next Monday, the beginning trader usually returns to the sinful earth and understands that technical tools are just helpers which make trading on the currency market easier and more comfortable. We have already mentioned a lot of them without mentioning only the scripts widely used by experienced traders and undeservedly neglected by the majority of novice traders. What is a script and how does it differ from an Expert Advisor? A script is a program (a utility) written in the MQL programming language whose function is the execution of a certain action once. A script can perform an informational, analytical or trading operation. For example, providing information...
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Having completed the training, a beginning trader sets out on his own "voyage" through the currency market. A beginner learns how to plot trends, add technical indicators, open and close positions. What else does a trader need to trade? One day the trader understands that the MetaTrader 4 platform contains not only the Moving Average, MACD and RSI indicators that he was told about during his studies, but also a lot of technical indicators in the terminal. After visiting the forum the beginner gets even more shocked - it turns out that there are various modifications of these indicators, as well as custom indicators. So, what to do? How to choose and customize an indicator correctly? Indicators -Grail...
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Oil is not only one of the most important components of the global energy system and economy, but also one of the most popular stock exchange instruments. The volatile reaction of "black gold" quotations to world events makes oil trading not only profitable but also very entertaining. There are several ways to trade oil on the exchange: by means of futures contracts, which are made on the commodities exchange; by means of contracts, which are made on the over-the-counter market; by means of long-term contracts, which are made by the oil producers and consumers. The largest volumes of oil are traded on two exchanges: the New York Mercantile Exchange NYMEX; the London InterContinental Exchange ICE. In smaller volumes, oil is also...
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Surely there is no one who, one way or another, has not heard about the foreign exchange market. Somebody has seen advertisements about fabulous profits, which can be received practically by doing nothing, somebody tells horror stories about how it is a scam and a swindle, and somebody is sure that trading is available only for very rich people and common people have nothing to do there. And only traders know that trading is hard work, a trader is a profession, and sometimes the money earned on the currency market is not easy. And if you are attracted by the opportunities of earnings in the financial markets, it is high time to become a trader! So, how to become a trader...
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Any novice trader eventually discovers automated trading, and the resources are overflowing with free and paid trading Expert Advisors that you want to try and test or even start trading with them. So in this article we are going to talk about how to install a robot on your MT4 trading account. After reading (or sometimes simply missing) the description of an EA, a novice trader downloads it, installs it in the terminal, attaches it to his trading account and... sees no changes. Doesn't work robot? Maybe. Or maybe the trader just installed it incorrectly, depriving himself of the opportunity to evaluate a promising and profitable Expert Advisor. That's why let's look at the step by step instruction on how to install an Expert Advisor in...
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One of the most difficult things for beginner traders to understand is a different format of earning money, an unstable profit. At , as in business, the money does not come in the form of a salary - every month, the same amount. Here profits alternate with a bad month, and one must get used to it. However, many beginners have these thoughts: "Ah, I earned only 10$ on this strategy, so I won't buy a BMW X6". Or vice versa: "Wow, I have made 130$ in one trade, if I trade a couple of times now, I can quit my job this month". You can lose your whole deposit in such a wave mentality. How ...
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They say that all analysts' forecasts come true, only analysts do not always guess at the time of their realization. Nevertheless, in the flow of stock information it is hard to avoid the influence of analysts on one's account, especially for a beginning trader. As someone who has been in the "skin" of a beginner trader, and a public analyst, let me give you some advice to protect you from the bad influence of other people's forecasts. You don't need recommendations! Of course, the easiest thing to do is to read the analytics exactly as long as they start recommending us something. That is, you have received a competent assessment of this or that event in the life of the company whose shares are interesting, but further to the entreaties to buy or sell...
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We begin a series of articles on the psychology of trading in the foreign exchange market, as this topic and area has been gaining momentum lately, especially in connection with the adoption of the "Law on e" in Russia. People come to trading to earn money but not all of them succeed. According to the statistics 95% traders lose deposits and only 5% make money. So why do people still rush here? Why do they do these strategies? Why are they pushing Buy and Sell? Why do they do what they do? Today we'll deal with the main question: what prevents a Trader from starting to make a profit from day one? The answer is simple: for the most part, everyone who comes into the trading world "bites"...
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The financial markets of the world are diverse and multifaceted. And if to trade in the stock market, to predict the rate of shares, sometimes it may be enough just to be aware of the affairs of a financial company, then the currency market can be referred to the most unpredictable markets. In order to trade successfully in this market it is necessary to be able to analyze it. Basically, all types of analysis can be divided into two main types: Fundamental analysis; Technical analysis. A person, unfamiliar with the currency market, may get an impression that in order to trade at the currency market one needs to have at least a PhD in Economics. Indeed, it is necessary to know the details of economic and financial processes, many economic indicators and...
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The purpose of trading on the currency market is, of course, to make a profit. At the same time, any trader will tell you that trading without losses does not happen. In order to limit your losses and fix the desired profit in time, the MetaTrader 4 terminal implements stop-loss and take-profit orders. Take Profit is an order that closes your position when the positive value is reached. Stop Loss, also known as Stop Loss, also known as moose, is an opposite order to Take Profit, closing the position when it reaches a negative value specified by the trader. So how do I set stop-loss and take-profit correctly when trading at ? The use of stop-loss and take-profit - the smart trader's approach There are many traders who...
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As we've said many times before, the modern trader lives on the Internet. Modern technology provides access to the web from virtually anywhere in the world and from any mobile device. However, with all the advantages of mobile trading platforms provided by brokers, their functionality, due to their features, is still inferior to the most popular among traders trading platform MetaTrader 4. Not even all standard indicators are available, there is no possibility to carry out graphical drawings in a familiar mode, and so on. How can you always have your broker's trading terminal with all its indicators, scripts, Expert Advisors, templates and settings at hand? In this case, the trader comes to the aid of a flash drive or, as it is called...
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Download for free is the most popular request of those who begin to get acquainted with the financial markets. Traders all over the world download trading terminals, indicators, advisors and other. Most Forex material can be downloaded without spending a penny. Why then, with such abundance, most beginning traders lose their deposits and, as a result, never come back to the market, and few of them succeed? Let's look at becoming a beginning trader on the Internet step by step. The first stage: downloading literature and trading terminal. The first thing a beginning trader learns about the currency market is to type "free books (textbooks)" into search engine. Now it is not difficult to find and download for free on the Internet...
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In our last article on the secrets of MetaTrader 4, we have already learned how to set up sound alerts. Today we will consider how to set up email notifications. To make the terminal send the notifications of the specified events to your email account, you should open "Tools - Settings - Mail" tab, tick the "Enable" field and set up the mail server. The format of the parameter to be entered is marked in red in each field. Let's find out more about what you should enter and where you should enter it. The "SMTP Server" field is where you should enter the address of the mail server you are using. Through the colon you must specify the port number. As a rule, it is port number 25. My mail is on the mail...
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Each trader who uses the MetaTrader 4 platform adjusts the appearance of currency pairs' charts according to his or her tastes and preferences. Some like white background, some are used to black. Some people like the black and white candlesticks, while others prefer the green bars. In general, all felt-tip pens are different by taste and color. Most traders stop there. However, knowing all the features and secrets of the MetaTrader 4 platform, you can customize the sound alerts for the system and user events, making trading in the forex market much more comfortable and pleasant. How to set up sound notifications of system events Everyone knows the system sounds of the MetaTrader 4 platform. These are setting and losing of...
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