Forex Rates in Metatrader

October 23rd, 2012 admin Posted in metatrader 4 | No Comments »

The list of currency pairs is displayed in the window “Market Watch”. The Metatrater 4 trading terminal receives rates on these currency pairs in online mode. The data are presented very conveniently in the form of a table with several columns. It simplifies the use of the Metatrader terminal.

The column “Symbol” contains the name of the currency pair, and the columns “Bid” and “Ask” show buying and selling prices of currency pairs. The column “Time” shows the time of receiving these data. High and low prices in the corresponding columns of the Metatrader “Market Watch” window are set on the basis of day price dynamics on the forex market. The window “Market Watch” is an effective tool for forex market analysis on the basis of current rates. You can use a hotkey (Ctrl+M), a button on the tool bar or “View – Market Watch” to open or close this window in the Metatrader 4 trading terminal.

Tools of the window “Market Watch”

The window “Market Watch” of Metatrader 4 allows to place pending and market orders or open different charts with ease. You should right-click on the window “Market Watch” and you will see a context menu with the following commands:

“New Order”. It allows to prepare and place a new pending or market order on the chosen currency pair or other financial tool. You can select Take Profit and Stop Loss orders at placing orders in the metatrader terminal. There are other methods of opening the window “New Order”: double click in the window “Market Watch” on the name of the financial tool or go to “Tools – New Order”, the window “Terminal – Open Order” – context menu command, or press the corresponding button on the tool bar.

“Chart Window”. It allows to look at the chart of the chosen currency pair or other financial tool in the Metatrader 4 trading terminal. The detailed information about work with chart windows is located in the corresponding section. Here are other methods of opening the “Chart Window”: “File – New chart”, “Window – New Window” or the corresponding button on the tool bar.

“Tick Chart”. It allows to look at the tick chart of the chosen currency pair or other financial instrument in the Metatrader 4 trading terminal. In contrast to general charts, the tick chart is situated directly in the window “Market Watch”. You can also see it if you open the tab with the corresponding name in the window “Market Watch”.

“Hide”. This command decreases spending of traffic and allows to remove unused elements from the rates window of Metatrader 4. You can do the same thing by pressing the button “Delete”. However, if a chart is opened for a currency pair or there are pending orders or opened positions, then you cannot delete the symbol.

“Hide all”. This command deletes all symbols from the list. However, if a chart is opened for a currency pair or there are pending orders or opened positions, then you cannot delete the symbol.

“Show all”. This command shows all available financial instruments of Metatrader 4. Execution of this command activates incoming of online quotes on all available currency pairs.

“Symbols”. This command opens a window where all available financial tools are situated. They are grouped according to their types. The button “Show” adds the necessary symbols, and the button “Hide” allows to delete a financial instrument from the rates list. The button “Properties” shows the parameters of the instrument.

“Sets”. It opens a submenu that allows to manage the set of symbols. The submenu allows to save the current set of symbols, choose or delete the existing one. It is especially handy if a trader works with different instruments.

“High/Low” – displays the column with high and low price levels per day.

“Time” – displays the column with information about time of receiving the information about price.

“Auto Arrange” – automatic arrangement of columns size at change of the window size. Hotkey – A.

“Grid” – displays or hides the grid. Hotkey – G.

“Popup Prices” – this command opens an additional window of forex rates in the Metatrader 4 trading terminal. The list of financial instruments is the same as in the window “Market Watch”. This is an information window, but is can also be used for Forex trading. You just need to double click the left button of the mouse on the chosen instrument. Commands for adjustment of data presentation parameters, activation of full screen mode and placing the window on the top are situated in the menu of the window “Popup Prices”.

Learn more about Metatrader 4 terminal

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MT4

February 25th, 2012 admin Posted in metatrader, metatrader 4 | No Comments »

MT4 is another name for Meta Trader 4. This is a dealing platform that is commonly used by dealers who operate in the retail forex markets with a view to making profits. MT4 was created by a company called MetaQuotes Software and introduced into the market in 2005. The MT4 software is offered out on a license arrangement to brokers who work in foreign exchange trading that will provide software to their respective clients.This MT4 software will comprise of a server and client component.The server aspect of the MT4 software is actually run by the licensed broker and the software the client uses is something that the broker arranges for them.

The customers will then use their MT4 software to monitor charts and prices on a live basis as well as make deals and manage their own account.MT4 found that it was popular as other users could develop their own scripts for dealing as well as trading robots that could deal automatically. MT4 was succeeded in 2010 when MT5 was released but few people decided to use it so these days most will still be using MT4.

How MT4 came about

Since 2002, the company that created MT4 had earlier launched a variety of predecessors but it took them until 2005 to produce a much better version in the form of MT4. In 2007, some broker firms started to include MT4 as an extra option to the software they currently used because it was such a popular platform amongst dealers and its flexibility to co-operate with other programs.This take up of MT4 by broker firms continued until 2010 when MT5 was released.

How MT4 is used

This system has its own editor and compiler built within the system and allows it to gain access to other software, help functions and articles that users can contribute. The software itself uses its own language for scripting called MQL4. This allows dealers to create their own Expert Advisors, scripts and customised indicators. It is felt that the MT4 is as popular as it helps promote algorithmic dealing.In fact, there are some online groups and forums that exist with the sole purpose of developing free software that can be used with MT4.MT4 was originally created so that it can be used as a single trading system where the dealer can manage their own position.But, quite a lot of external creators have devised their own software packages that can link into other financial dealing systems that effectively operate as a hedging system but done automatically.

What makes up the MT4 package?

The full MT4 bundle will consist of:

•    MT4 Client Terminal – this is the part for the client. This is offered up for free from broker firms to allow live trading online as well as practice dealing accounts. It can offer dealing functions, technical analysis and charts on a live basis. Its own language will let its users program in their own signals, trading tactics and indicators. It does also have its own 50 simple indicators supplied and these can also be adapted to the customer requirements. MT4 will run on the various Windows operating systems (98/2000/XP/Vista/7).
•    MT4 mobile – this is the version you can use to look after your dealing account on your mobile phone or PDA. The operating system this runs on is Windows Pocket PC 2002/Mobile 2003.
•    MT4 Server – this is the centre point of the system. This was created to deal with all of the requests from the user and executes all of the deals as well as execution and display of warrants. It will issue quotes on price and news bulletins while also recording and maintaining deal records
•    MT4 Administrator – this exists to manage the settings of the server from a remote base
•    MT4 Manager – this exists to manage all of the inquires into deals and looks after the customer’s accounts
•    MT4 Data Center – this is a particular proxy server which can act as the mediating function between the client terminals and the server. It also helps with the issue of the price quotes

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Trailing Stop Explanation

January 31st, 2012 admin Posted in metatrader, metatrader 4 | No Comments »

Trailing Stop

Knowing when to leave a trade is just as important as knowing when to get in. Seeing how much money you have made and thinking you can make just that little more makes the decision about selling (or buying in a short trade) an emotional one as opposed to scientific.
Clearly, using emotions to trade is far from ideal, which is why trading techniques help to make the decision to trade more of a calculated one as opposed to basing it on fear or greed.

Trailing Stop (Momentum-based)

When looking to use a technique to tell you when to leave a deal, the starting point is the ‘Trailing Stop’
This method states that a sale should be made once a specific level, usually a percentage under market value, is met. This ‘stop-loss order’ means that whatever point the sale is made at, the dealer will know the minimum amount they have made. The dealer’s attitude to risk will determine exactly what level they set the stop-loss order at.
How to decide the right point at which to set the stop at so as to achieve a good profit isn’t easy. This will be influenced more by emotion than calculation simply due to each person’s level of caution when trading.
You might decide that you would like to monitor prices until they settle and then set your stop-loss order just below the ‘consolidation’ level a little while after you have started the trade
In the case of ‘over-valued’ stocks, a trader can be in the fortunate position of having set the stop to protect against losses meaning they can gain handsomely while the price remains inflated.

The Parabolic Stop and Reverse (SAR)

Although the momentum-based stop loss approach can generate continual significant gains, the SAR technique provides a more restrained method. This tends to be more suitable for a less volatile trading environment and offers stop-loss levels on each side of the market, each day changing gradually in line with the price.
A price chart will have this indicator drawn on it at levels that every so often cross the price in the event of a reverse or decrease in momentum of the stock.
This crossover is when the stop occurs revealing a chance for the opposite market to come into play.
Let’s say that your security has sold so you no longer hold that position. You can now use a trailing stop to ‘sell short’ at the directly opposing position to the point that you had earlier ‘stopped’ at the reverse of the market. The ‘parabolic’ tactic therefore gives the opportunity to gain from each aspect of the market taking advantage of the oscillating stock value.
However, the volatility of the stock will influence the effectiveness of the Parabolic Stop and Reverse approach. Too erratic and the trailing stops kick in when you haven’t garnered the profit you could meaning the costs of the transaction are likely to outweigh the benefits if the market isn’t smooth enough.
Secondly, if a stock lacks a meaningful trend then using SAR will mean that the stop point won’t be achieved so you never secure your gains.
So, too choppy a market or too weak a trend and the SAR system will not be effective
But, you may be able to pick the right trailing stop point using the SAR if you can accurately gauge the right conditions somewhere between these two varying market environments.

So, in conclusion….

Knowing where to settle upon your exit level comes down to your ‘attitude to risk’ as a dealer. The more bullish may set their gain levels and potential loss limits by using the less specific method of determining trailing stops using an elementary criteria. Alternatively, the more risk-averse may prefer the SAR approach to allow each side of the market to come into play.
Either way, it is wise to remember that, if intending to use either of these methods, both are influenced by market environments.

http://iticsoftware.com

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Metatrader Introduction

December 24th, 2010 admin Posted in metatrader, metatrader 4 | No Comments »

MetaTrader 4 is one of the most widely used and popular platforms for home broker trading. This application is perfect for Forex stock and commodity traders and can be downloaded for free from the official website of the platform developer – MetaQuotes Software Corporation. As a rule, a lot of brokers offer traders to use MetaTrader 4 as a basic platform for trading. In this case a link for downloading MetaTrader should be provided on the broker’s website. However, not always brokers prefer MetaTrader 4; some of them have their own platforms. In this case there are several servers on MetaTrader 4, from where you can access the data. The only difference between MetaTrader and broker is a rate of currency pairs. This won’t be a big problem and won’t have a significant impact on performance of trading, though.

First of all, download MetaTrader 4 from the official website of using links provided by brokers. After that you should install the software. When installation is finished, you can launch the program. If you see the MetaTrader 4 interface for the first time, it might seem too complex for you, but after spending some time on studying the platform, you will see, that everything is clear. There are divided windows, which give you simultaneous control over orders and different number of pairs. As a rule, there is the Market Watch feature in the top left corner under the menu bar. All information about currency pairs is located on the server. If you need some pair, you can get it by clicking on it or using drag-and-drop movement and this pair will appear in any chart window at your option. Therefore, the efficiency of your actions increases: you waste less time and get necessary information faster. This is very important for Forex trading, because every second counts here.

MetaTrader 4 templates are at your disposal. They help you to achieve better results, corresponding with your individual needs. Profiles can have one or multiple charts. For example, you can use three EUR/USD charts, every of which will have its own timeframe. Or here is another example: you can use three completely customizable different pair charts, when using personally chosen indicators. MetaTrader allows you to customize many elements of the platform (colors, templates, etc.). That is why MetaTrader 4 is one of the best trading platforms with the fullest set of features absent in other alternative platforms.

Almost all Forex traders are familiar with MetaTarder 4 or, at least, heard about it. There is high probability of that you will use MetaTarder 4 as a basic platform for trading. And this is not surprising: MetaTarder 4 is superior among other trading platforms, having the fullest set of features for successful Forex trading.

MetaTrader 4 – Traders Options

If you want to use a personal computer for trading stocks, commodities or Forex, you will need a special trading platform for performance of certain operations: providing information, executing trades, interfacing with broker, etc. This platform gives you specialized tools for making correct trading decisions.

It is very important to choose the right trading platform, because many of them are created to work only with individual brokers. Luckily for us, there are several alternatives. There are trading platforms, which were developed by independent companies. Therefore, such platforms are partnered with multiple brokers. MetaTrader 4 is the best trading platform presented on the market.

Advantages of MetaTrader 4

MetaTrader 4 has several important advantages, which place this platform above the others:

•    MetaTrader 4 is absolutely free.
•    It gives you rich opportunities for customization.
•    You can use back testing for testing your strategies.
•    You can practise using virtual money.
•    MetaTrader 4 is one of the most powerful modern trading platforms.
•    There are a lot of resources, which can be accessed online.
•    More than 300 brokers support MetaTrader 4.
•    Windows Phone powered devices support MetaTrader 4.
•    You will receive necessary data for all major currency pairs in real-time mode.

MetaTrader -The Basics

First of all, open a demo or real account. Then you can download MetaTrader 4 and install the program on your computer. When installation is finished, you can create a chart and start trading.

For creating a chart you should open “File” dropdown menu and click on the “New Chart” item. You can also find the corresponding icon on the tool bar. Then you will see a list of currency pairs; select one in order to continue. Then you will see one hour (H1) chart (settings by default). If you want to see the chart in candlestick, click on the “Candlestick”.

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If you click the right mouse button in any spot in the chart, the dropdown menu will appear. Select the “Properties” item. A list of settings will appear. You can change them as you want.

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After that you can add some technical indicators and objects. When you finish, save your chart, using a a unique name. Selecting a unique name is very important, because otherwise the default name will be used to entitle the chart.

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MetaTrader 4 has three main groups of toolbars. In order to make things simpler, they will be named “Windows”, “Charts” and “Objects”.

MetaTrader Windows Toolbar

•W1 This icon is called “New Chart”. As the title says, by pressing it you create new charts. When you click on the “New Chart” icon, a list of six major currency pairs appears. Pairs and additional pairs under MiniForex. There is different number of additional pairs for demo and real account. If you click on a pair, a new window with a chart will appear.

•W2 This icon is called “Profile”. As a rule, a Profile is a chart or several charts with different indicators and objects. When you load the MetaTrader 4 platform for the first time, you will see the default chart. If you make any changes, they will be saved in this default profile. Of course, you can save changes manually to a new profile. It should be noted that it is impossible to delete the Default Profile.

•W3 This icon is called “Market Watch”. If you click on this icon, you will see information about currency pairs, which are available at the moment, and also there will be a vertical window with bid and ask prices. For opening the “Order” window you should double click on a currency pair.

•W4 This icon is called “Data Window”. If you want to open this window, just click on the corresponding icon and you will see the window on the left. If you want to see the available data, then just move the mouse cursor to a candle in the chart.

•W5 This icon is called “Navigator”. After clicking on the “Navigator” icon a window with various scripts will appear to the left. You can select any of these scripts, which include expert advisor, indicators, account, custom indicators, etc.

•W6 This icon is called “Terminal”. If you click on this icon, you will see a window in the bottom of the MetaTrader 4 interface. There is different useful information in this window, including history of trade and account, news inbox, etc.

•W7 After clicking on this icon a window in the bottom of the MetaTrader 4 interface will appear. There will be testing for Expert Advisors in this window.

•W8 This icon is called “New Order”. As the title says, by clicking on it the Order window will appear (hotkey F9). The currency pair will be the same as in the current active chart.

•W9 This icon is called “Meta Editor”. If you click on this icon, you will see a window with editing parameters for scripts, Expert Advisors and custom indicators. It should be noted that there is lot of technical parameters in this window, and it is highly recommended that inexperienced users do not make any changes here. This window is for programmers only.

•W10 This icon is called “Expert Advisor”. If you click on this icon, you can either enable or disable the Expert Advisors.

MetaTrader Charts Toolbar

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•C1 This icon is called “Bar Chart”.

•C2 This icon is called “Candlestick Chart”.

•C3 This icon is called “Line Chart”. If you click on this icon, you can change type of the active chart.

•C4 This icon is called “Zoom In”. As the title says, it is used for zooming into a chart (maximum 5x zoom).

•C5 This icon is called “Zoom Out”. As the title says, it is used for zooming out of a chart (maximum 5x zoom).

•C6 This icon is called “Auto Scroll”. After activating this icon the latest bar will be constantly displayed on the screen. After deactivating this icon older bars will be displayed.

•C7 This icon is called “Chart Shift”. As the title says, it is used for shifting the label of the chart (a small gray triangle in the upper corner of the window).

•C8 This icon is called “Indicators”. You can choose indicators right from this icon without necessity of opening the “Navigator” window.

•C9 This icon is called “Periods”. By clicking on this icon you can set the desired period of an active chart. It can be a period from 1 minute (M1) to monthly (MN) period. There is the other way for selecting periods: the Period Toolbar.

•C10 This icon is called “Templates”. By clicking on this icon you can delete, save or load templates in accordance with your needs.

MetaTrader Object Toolbar

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•O1 This icon is called “Cursor”. By clicking on this icon you can activate a standard arrow, which can be used for selecting items by default.

•O2 This icon is called “Crosshair”. Here is how you should use this element:
a)    Activate the “Crosshair” icon and move a cursor to an active chart window.
b)    Choose the initial position, press the left mouse button and hold it while moving the cursor to the final position.
c)    You will see a line between the initial and the final positions.
d)    The following data will be displayed on the screen: numbers of pipes or number of bars or price.
e)    When you no longer need the displayed information, just release the mouse button.

•O3 This icon is called “Vertical Line”. Here is how you should use this element:
a)    Select tool and position for this tool.
b)    Place the tool at this position.
c)    If you want to change anything, use double-click.
d)    Line and handles will be selected, and two small white squares will appear.
e)    For opening line properties you should right click near it.
f)    Make necessary changes.
g)    If you want to remove handles, use double-click.

•O4 This icon is called “Horizontal Line”. The “Horizontal Line” has the same functions as the “Vertical Line”. The only difference is in its horizontal placement. The “Horizontal Line” is used for drawing Support and Resistance levels.

•O5 This icon is called “Trendline”. If you want to draw or slant a trend line, you should use “Trendline”. Here is how you should use this element:
a)    Select a tool and position for this tool.
b)    Place the tool at this initial position.
c)    Press the left mouse button and hold it while moving the cursor to the final position.
d)    The Trendline will snap to the nearest point.
e)    If you want to check if you selected the right points, use double-click.
f)    3 handles will appear: two at the ends of the line and one in the middle.
g)    The handle in the middle is used for moving the line. Other two handles are joined to the candles.
h)    Then you can move the handles at the ends. These handles are automatically attached at the ends of a candle.

•O6 This icon is called “Equidistant Channels”. This element is almost the same as the previous one, but there is one difference: there is the second line, which is placed parallel to the first one. Here is how you should manage this element:
a)    If you want to see the handles, use double-click.
b)    3 handles will appear for the first line (two at the ends of the line and one in the middle) and one handle for the second line.
c)    Click on the handle, hold the left mouse button and drag it for snapping to the desired point.
d)    In this case a new channel will be created.

•O7 This icon is called “Fibonacci Retracement”. Here is how you should use this element:
a)    Click on the “Fibonacci Retracement” tool for selecting the initial position.
b)    Press the left mouse button and hold it while moving the cursor to the final position.
c)    After that you will see Fibonacci Retracement lines, which will snap into position.
d)    If you want to see the handles, select the main line.
e)    3 handles will appear. You can use them in the same way as in the case of the “Trendline” tool.

•O8 This icon is called “Text”. If you want to write some text in any place of an active chart, you can use this element.

•O9 This icon is called “Text Label”. If you want to place a label in any place of an active window, you can use this element.

•O10 This icon is called “Arrows”. If you want to inset some graphical signs (arrows, etc.) into charts, you can use this element.

MetaTrader. Open or Close a Position

In order to open the “Order” window you should do the following:

1.    Open the “Terminal” window and right click on the “Trade” or “Market Watch” tab. After that a context menu will appear, from where you should select the “New order” item.
2.    Open the “Chart” window, right click on it for opening a context menu, and select Trading -> New Order.

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•Symbol – A currency pair
•Volume – Number of lots
•Stop Loss – The level of Stop Loss order
•Take Profit – The level of Take Profit order
•Comment – Notes

When you have pressed “Buy” or “Sell” button, the deal is considered to be confirmed by the broker. Now your position is opened no matter if it is long or short.

In order to close a position you should open the “Terminal” window and select your position in the “Trade” tab. Right click on the position for opening a context menu and click on the “Close Order” item.

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There is another way for closing a position: you just need to open the “Terminal” window and double click on the position you want to close in the “Trade” tab.

MetaTrader. Stop Loss & Take Profit Orders

“Stop Loss” is an order which closes a position, if a price is less profitable than it was in the moment of placing the order.

“Take Profit” is an order which closes a position, if a price is more profitable than it was in the moment of placing the order.

Both “Take Profit” and “Stop Loss” orders are placed without any actions from the trader’s side, i.e. they are executed automatically at a definite order level. You can set these parameters in the “Order” window.

If you want to change value of “Take Profit” and “Stop Loss”, open the “Terminal” window and right click on a pending order or an open position. A context menu will appear, from where you should select the “Modify or delete order” item.

MetaTrader. Trailing Stop

If a “Trailing Stop” has been placed, the following will occur:

• The open position should bring profit (minimal amount – 15 pips), and only after that the “Stop Loss” order will be placed. In this case a command will be sent by MetaTrader 4 for placing the “Stop Loss” order 15 pips higher or lower in comparison with the current price.

• In case the interval between order level and the current price is more than 15 pips, the “Stop Loss” order” will be changed by MetaTrader 4 so that its level is 15 pips higher or lower in comparison with the current price. Therefore, the “Stop Loss” order and the current price will be closer.

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Installing Expert Advisors

Professional expert advisor

Sometimes MetaTrader 4 trading robots have integrated installation packages, so they are installed automatically without need to do anything manually. But there are some bots, which do not have installation packages, so you have to install them manually. However, the process of installation of these bots is very easy: all you need to do is to place some files in the right folders on your personal computer.

Expert Advisor Installation

1. Download “Expert Advisor”. Select a location on your hard drive and start downloading process. Please, make sure that the file you’ve downloaded is not archived. If it is a zipped file, first of all, unzip the contents and place it to the correct directory.

2. If you have OS Windows Vista or Windows 7, you don’t have to download and install some third party software for unzipping the file with “Expert Advisor”. In case you are using Windows XP, 2000, or earlier version of this operating system, please, download and install any zip program. There are a lot of free zip programs, for example, “jZip”.

3. When downloading process is finished, the next step will be integration of “Expert Advisor” with MetaTrader4 program. In order to able to continue you will have to create a real or demo account. If you have an account, you can continue the process of installation.

4. The “Export Advisor” has the extension .ex4 or .mq4. Copy this file, but do not mix up the file with the folder. Right click on the file and select the “Copy” item from the context menu. Another option is to select the file and press the “Ctrl+C” combination.

5. Open “My Computer”, next “Drive C”, then find the “Program files” folder and open it. There should be the folder named “MetaTrader” or any other folder with similar name. It also may be named FxOpen-Metatrader, etc. When you find the folder with your MetaTrader4 platform, open this folder and find there the folder named “experts”. Open this folder, too.

6. Next you should paste the “Expert Advisor” file in the folder. You can do it by pressing the “Ctrl+V” combination. Another option is to right click in the free space of the “experts” folder for calling the context menu and to select the “Paste” item.

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7. You should close MetaTrader platform in order to allow the changes to take effect. After that open the platform and make sure that “Expert Advisor” is installed properly and working fine. Open View -> Navigator and in case the process of installation ended properly, “Expert Advisor” will show up.

Activating Expert Advisors

The process of activation of “Expert Advisor” is very simple. Here are the necessary steps:

•    Open the “Tools” menu.
•    Open “Options”.
•    Go to the “Expert Advisors” tab.
•    Tick off the items “enable the expert advisor” and “allow live trading”.
•    In case of presence of DLL file tick off the item “allow dll import”.
•    In case of presence of external experts or indicators tick off the item “allow external experts import”.

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Using the Metatrader Strategy Tester

If you want to make sure that your strategy or function works fine, you can test them using the “Strategy Tester”.

In order to test a strategy you should do the following:

•    Open menu and select View -> Strategy Tester.
•    Choose the Expert Advisor to be tested.
•    Choose the parameters of the Expert Advisor (use the “Expert Properties” button).
•    Choose the currency pair for the test.
•    Select the currency pair for the test.
•    Select the timeframe.
•    Choose the “Model”. It should be noted that the quickest way is to select “Control Points”, but the “Every tick” allows you to achieve the best quality of modeling.
•    Use “Optimization” for setting the best parameters for the Expert Advisor.
•    Use “Visualization” for following positions taken by EA.
•    Use “Use Date” for presenting testing period. In case of absence of testing period all available data will be taken by the “Strategy tester”.

There are three worksheets, where you can find all results of testing: Report, Graph or Results. Each of worksheets shows you different kind of information.

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The test result will be seen in the worksheet Results, Graph or Report, each presenting the information in different ways.

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MetaTrader Hot Keys

The MetaTrader 4 platform allows you to use a lot of useful hotkeys, which ease the work with the platform. Here is the list of all MetaTrader 4 hotkeys:

The left arrow key (←) – used for scrolling the chart to the left
The right arrow key (→) – used for scrolling the chart to the right
The up arrow key (↑) – used for quick scrolling to the left; in case the scale is defined, this key is used for scrolling up
The down arrow key (↓) – used for quick scrolling to the right; in case the scale is defined, this key is used for scrolling down
The “Numpad 5” key – when you make changes in the vertical scale of automatic chart, this key allows you to restore it; in case the scale is defined, you can use the “Numpad 5” key to show the chart
The “Page Up” key – used for quick scrolling to the left
The “Page Down” key – used for quick scrolling to the right
The “Home” key – allows you to open the initial point of the chart
The “End” key – allows you to open the end point of the chart
The “-” key – used for zooming out
The “+” key – used for zooming in
The “Delete” key – used for deleting objects
The “Backspace” key – used for deleting recent objects, which were placed in the chart window
The “Enter” key – used for opening or closing the “Navigator” window
The “Esc” key – used for closing the dialog window
The “F1” key – used for opening the user guide
The “F2” key – used for opening the “History left” window
The “F3” key – used for opening the “Global Variables” window
The “F4” key – used for downloading MetaEditor
The “F5” key – used for changing profiles
The “F6” key – used for opening the “Tester” window, where you can perform test of EA of the current chart
The “F7” key – used for opening the “Properties” window of EA of the current chart; then you can make necessary changes
The “F8” key – used for opening the “Chart Setup” window
The “F9” key – used for opening the “New Order” window
The “F10” key – used for opening the “Popup prices” window
The “F11” key – allows you to activate/deactivate the full-screen mode
The “F12” key – used for moving the chart by one bar to the left
The “Shift+F12” combination – used for moving the chart by one bar to the right
The “Shift+F5” combination – used for opening the previous profile
The “Alt+1” combination – represents the bar chart
The “Alt+2” combination – represents the candlesticks chart
The “Alt+3” combination – represents the broken line chart
The “Alt+A” combination – used for copying the results of testing and optimization
The “Alt+W” combination – used for opening the chart managing window
The “Alt+F4” combination – used for closing the client terminal
The “Alt+Backspace” or “Ctrl+Z” combination – used for cancelling deletion of an object
The “Ctrl+A” combination – used for applying default height to all indicator windows
The “Ctrl+B” combination – used for opening the “Objects List” window
The “Ctrl+C” or “Ctrl+Insert” combination – used for copying
The “Ctrl+E” combination – used for activating or deactivating expert advisor
The “Ctrl+F” combination – used for enabling “Crosshair”
The “Ctrl+G” combination – used for opening/closing grid
The “Ctrl+H” combination – used for opening/closing OHLC line
The “Ctrl+I” combination – used for opening the “Indicators List” window
The “Ctrl+L” combination – used for opening/closing volumes
The “Ctrl+P” combination – used for printing the chart
The “Ctrl+S” combination – used for saving the chart; there are the following file extensions: CSV, PRN, HTM
The “Ctrl+W” or “Ctrl+F4” combination – used for closing the chart window
The “Ctrl+Y” combination – used for opening/closing period separators
The “Ctrl+Z” or “Alt+Backspace” combination – used for cancelling deletion of an object
The “Ctrl+D” combination – used for opening/closing the “Data” window
The “Ctrl+M” combination – used for opening/closing the “Market Watch” window
The “Ctrl+N” combination – used for opening/closing the “Navigator” window
The “Ctrl+O” combination – used for opening/closing the “Setup” window
The “Ctrl+R” combination – used for opening/closing the “Tester” window
The “Ctrl+T” combination – used for opening/closing the “Terminal” window
The “Ctrl+F6” combination – used for opening the following chart window
The “Ctrl+F9” combination – used for opening the “Terminal — Trade” window; when the window is opened, you can use the keyboard for controlling the trading activities

Some Tips & Pointers

1. The “End” button allows you to reach the end of the opened chart
2. In case you need to reset a price scale to Auto, it can be done by double click in any place on this price scale.
3. To find a chart scale, the length of the dotted-line period separators for the Pivots program is 20 pips Cable or equivalent to the other currency pair.
4. If you need to extend a line, but do not want to change its position, i.e. do not want to move it, do the following: highlight the line, after that press the “Shift” button and hold it, then click on an end point and drag it up to the necessary length.
5. If you need to copy a line, do the following: highlight the line, after that press the “Ctrl” button and hold it, then click on the line and drag it to the necessary place. The original line will be completely copied, i.e. its color, attributes, thickness and other parameters will be given to the replicated line.
6. If you need to delete some indicators from every single chart, you should do the following: first of all, open the “Navigator” window, and then open the custom indicators folder. Next call context menu by clicking the right mouse button on necessary indicators and select the “Delete” item. You should restart MetaTrader platform in order to allow the changes to take effect.
7. If you need to attach indicators to charts, you should do the following: first of all, open the “Navigator” window, and then open the custom indicators folder. For attaching indicators to the desired charts you should select and drag them to each chart window.
8. If you need to speed up the MetaTrader 4 platform, you should do the following: open tools -> options, after that open charts tab. There you should lower the maximum bars. In order to do it, input necessary values for History and Charts.
9. If you need to delete anomalous spike of data, you should do the following: open tools -> history (the “F2” hotkey), and then select the relevant currency pair and time period. Find necessary date and time, select them and delete. If you want the changes to last, do not refresh the chart. All changes will be canceled only after refresh.

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MetaTrader 4

October 4th, 2010 admin Posted in metatrader, metatrader 4 | No Comments »

There are quite a few people who are starting to invest their money in MetaTrader 4, a helpful piece of software for those who need assistance in monitoring the market and creating effective strategies to increase profits. With this software, you will be able to analyze quotes and control each of your accounts from a mobile device for extra convenience. This program has the power to do many things, including managing multiple investor’s accounts. The fact is that it makes trading easier and simpler for those who are always busy have a hectic work schedule.

MetaTrader can help you monitor the activities of the market second by second, so you never miss a single bit of information that is vital to your success with this type of trading. It is great for those who are involved in the foreign exchange market, and can improve earnings significantly by providing a number of useful features which thousands of traders have utilized in the past. Making your transactions automatic and creating your own personal financial advisers is possible with the help of MQL4, a language in and of itself that can go a long way towards improving your current financial situation.

When you look into MQL4, you will be able to gain access to the export advisers, which you can use to benefit from personally. You will also be able to use it to set up automatic strategies that can take you a long way in terms of decreasing risk and maximizing potential in the market. This software also provides a way for those who do forex trading to work from their mobile devices. With the help of this program, you will be able to manage your own trading account while traveling absolutely anywhere.

From your phone, you will be able to access a number of financial markets, and stay updated on all of the latest breaking financial news without having to be stuck at home or in a cramped office. MetaTrader is a revolutionary tool for those who need a way to empower themselves when it comes to trading in the forex market. You will be able to stay connected at all times to what is going on with your account and the rest of the world. In this information age, knowledge is power, and when you are able to get it from a mobile device such as your phone, you become much more powerful.

Another benefit of using Forex MetaTrader is the ability to manage multiple accounts. If you have found it difficult to manage multiple accounts in the past, then you will certainly be happy to know that this application makes it easier than ever to manage your accounts and keep them updated at all times. All you have to do is put in a request with your broker to start running MetaTrader 4 MultiTerminal, and you will have immediate access to each one of your accounts at all times. For anyone who trades in the foreign exchange market, having this program is essential to being truly successful.

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Dukascopy Broker and the Forex Trading Opportunities

August 12th, 2009 admin Posted in metatrader, metatrader 4, metatrader 4 apa | No Comments »

Forex is a challenging business and yet there are many people who want to become traders in this market. Most of them believe that they will be able to make profits here. However, it is not as easy as that. There are a lot of things to do and tons of issues that you have to consider. Although this is the case, one is welcome to venture in this business domain. What is important here is that you have your own strategy, tools and systems that will make your decision making a success.

But decision making does not only commence when you will buy or sell a currency. You will actually make a big choice the moment you decide that you want to become a forex trader. This is the time when you will have to choose the broker company that is suitable for your transactions. In selecting a broker, there are different sets of criteria that they have to match up with. It is your task to check whether the chart they provide is in real time or not. In addition, you will also have to verify that the company allows their clients to make use of autopilot systems. It is also important that you confirm the deposit – the money you will invest on. Usually this will differ from one broker to another but this can be a good basis when choosing the company for you.

One of the best brokers at present is the Dukascopy broker. There are many traders who choose this and they have their own reasons. For some, they are attracted to the offers of Dukascopy broker including live charts and more deposit money. The Dukascopy broker is a company that operates in Switzerland. This is renowned all over the world due to the fact that they offer comprehensive platforms for trading. Although the Dukascopy broker company functions at Switzerland, it can cater to the international traders of the forex market.

Nowadays, Dukascopy broker is known as the house of veterans in forex. Undoubtedly, this is the firm where professionals in the foreign exchange market assemble. Dukascopy broker has developed sophisticated superior automated systems that can facilitate the persons who are familiar with the processes in trading. Many years have passed and this has proved that it is an expert in accommodating the requirements of the dealers that transact in high volumes of trades.

Most traders regard Dukascopy broker as unique because they present low spreads starting from 0 pip to 1 pip. The spreads will be maintained all throughout the forex trading procedure. If you want to sign up for Dukascopy broker, first time registrants will have to go through a very lengthy course due to the fact that Dukascopy broker intends to uphold its integrity. The firm is a member of the Association Romande des Intermediares Financiers or the ARIF.

At present, Dukascopy broker fixed their lowest account requirements to traders, which is now at 50,000. This shows that they are interested in managing veterans with high volume trades for the most part. What is commendable about Dukascopy broker is the verity that they serve their customers in such a way that they will be pleased with the service of the firm. This is one of the grounds that set the company apart from the other brokerage organizations.

Dukascopy broker enjoys a good reputation with the forex traders. It is focused on giving excellent brokerage services to its clients especially the professional ones. Newbies may not be able to enroll here but there is a demo account that is free for aspiring traders.

DukasCopy does not have Metatrader 4 platform but we can write (overwrite) any our (not our -mq4 needed) forex expert advisor on DukasCopy API. Feel free to contact us

Expert Advisor Stomper (Java version for DukasCopy available)

forex scalping

Learn more about expert advisor stomper

Best regards,

BJF Trading Group inc.

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Advantages of Metatrader 4

July 4th, 2009 admin Posted in download metatrader, metatrader, metatrader 4 | No Comments »

Metatrader 4 is a system designed for traders in the equity markets of forex, futures and CFD. This makes it easier for a trader to perform the trades and that is not the only thing you get from this amazing system. This complex does not even need other kinds of software that you may have just so you can organize your brokerage services. Here are the main advantages of the system that will surely make every trader want to try it:

1.    Coverage on the different financial markets – As mentioned, this gives clear reports on the three equity markets especially when it comes to the trading and brokerage activities, which are particularly important to the trader.

2.    Multicurrency basis – There is no main currency and country here. All the currencies can serve as the major one which can be used in the function of the entire complex.

3.    Economically productive – You do not have to purchase a computer with high specifications. It can implement data transfer as well as process protocols using inexpensive programs. You only need Pentium 4 with a speed of 2 GHz, 80 GB hard drive capacity and 512 DDR RAM. With the new protocols that you may have generated, they will even reduce the need on operational costs and data link.

4.    Reliability – When you are using Metatrader 4, you can be sure that your data is secure. Not only that, whenever an error occurs in your historical data, you’ll be relieved to know that there is a backup system that protects your files and restores them if you want to. If you have another server, you can even restore the historical database because of the execution of synchronization.

5.    Excellent application programs – You may have heard about the superiority of the Metatrader 4 API, which makes it possible for the trader to modify the work of the complex so that it can further meet the requirements. This application can even help the trader to solve some of the most difficult problems such as creating supplemental analyzers to find the trend of the increase of the day traders monthly as well as the process of extending the ability of the server.

6.    Multilingual support – Not all traders speak in English and this is why the program supports various languages from across the globe. There is also a program known as the Multilanguage pack, which is incorporated in the distributive wrap ups.

7.    Web services integration – With this feature, you can publish real time quotations and related charts on your own website. Many agree that this is a high quality service that sets the system apart from the other software available.

8.    Flexibility – The system is famous for its ability to customize different functions. Here, you can set all the parameters starting from the time of the trade session up to the detailed properties for every user groups.

9.    Safety – All the information you have entered here can never be accessed by another trader because they are encrypted. There is absolutely no chance of a third party to use the information you have provided. You can also e sure that the operation is stable especially during transaction in the part of the server and the whole system. There is also a built in guard system for the DDoS attack. This system hides your true IP address in the form of access points so that you will not experience system down and avoid intermittent changes in your resources.

To know more about the advantages of Metatrader 4 and its useful program interfaces such as the Metatrader 4 API, you can download a Metatrader 4 demo, which will let you experience all the good things about the platform.

Practice Trading With a Free Metatrader 4 Demo From FXCM. Click Here

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What is the Metatrader 4 API?

June 15th, 2009 admin Posted in Uncategorized | No Comments »

Metatrader 4 is an online trading platform. This is a great help for traders especially because in order for a trader to become successful, he should be able to watch constantly the movements in the market. As we all know, we need sleep and rest so that we can restore the energy we have consumed from the previous day. Thus, a robot is very useful since trading in the foreign exchange market can be done twenty four hours a day and seven days a week. Many believe that a trader can flourish in the business if he can monitor the market continuously. This is the job of the robot. With Metatrader 4, you have all the help you require and there is really no need for you to get additional software.

This platform is highly functional since the developers want to extend a helping hand for the traders. Almost all the actions that are within the brokerage company business process can be performed by Metatrader. Owing to that, this system has become a landmark solution and the trade standard in the world of forex market.

One of the reasons why this product is very popular is because of its convenient interface and the rich features that are present in one program alone. Now, the developers of this system have created an open application interface known now as the Metatrader Application Program Interface or API. This makes it possible for the user or the trader to build custom applications that hey can use for the automated business processes. With Metatrader API, there are a lot of functions that can be observed. Qualified traders can get rich functionality from the system at your disposal as well as create a custom software application utilizing the programming language you prefer.

There are three components in the API aimed to work with the corresponding modules. These are the Server API, Manager API and the Data Feed API. The Server API is the interface that provides access to the features of the server with the use of a plugin. This also automates several trading processes. This is tasked to solve supplementary quotation filtering. This is also responsible for managing quotation modes that depend on the activity of the market.

The API Manager is implemented based on access allocation. This features the ability to access the server. Take note that the administration possesses the highest access level. Thus, the ability of changing the server settings can be performed here. This also processes the requests from the clients and this also permits the user to develop a distinctive risk management program so that you can easily control and manage your position. Furthermore you can generate extended reports regarding your trading activities and the trade server with the Manager API.

The last component, which is the Data Feed API, allows the trader to make the most of its user friendly interface. Using this, you can access news services and protocols of quotation providers if you wish to implement them into the system. You can also use numerous data sources at the same time and they are ranged by priority. When a certain source is disconnected, this automatically switches the one on the next priority level.

Getting a Metatrader 4 Demo is free so that you can experience the usefulness of the platform for your trading needs.

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The Top Forex Platform

June 9th, 2009 admin Posted in metatrader | No Comments »

Just like the volatility of the world of forex, the views of other people have changed about this economic market also. Gone are the days when everything has to be done manually. Now, there are forex robots that will help the trader be successful when it comes to dealing with the currencies and the other traders as well. These robots oftentimes use the Metatrader 4 platform, which is considered as the best in the pack. They guide every trader out there who wants to make money and protects the fortunes so that they will be able to earn more money in their own foreign exchange endeavors.

The Metatrader software has a very user friendly platform so that even beginners will be able to use this effectively. With your Internet connection, you will be able to watch out for any pip placement in the foreign exchange market. With less than 1% uptime, you will be able to access all the necessary information that will help you in trading currencies. This is exceptionally intuitive and allows the user to grasp the forex subject. You can choose from a PDA or desktop version for Palm OS, windows and windows mobile. You can get this also from your broker that will give you the Metatrader data that you will need. You will be able to acquire help in streaming real time data in the market.

The Metatrader 4 interface provides a charting software as well as sharp technical analysis along with expert opinions so that the trader will be guided in the trading process. This also allows you develop you own strategy and this will be a great help for you when you want to stay long in this business.

Traders enjoy automation yet it is still required that they place trade with their brokers so this means that they still need to work. However, there are some occurrences that traders are out of their respective offices and so this clever Metatrader software allows you to access information no matter where you may be. This is through PDA trading which is done over mobile. You can now download these systems and be able to utilize them whenever you want. Once you have downloaded the system you can use it right away and you would not even need the user’s manual.

There are a great number of sites that gives you details and pictures on how you will be using Metatrader 4. http://iticsoftware.com  is a site that helps you install the program on your terminal as well as other relevant details and screenshots.

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MetaTrader 4 Error Codes

January 23rd, 2009 admin Posted in metatrader | No Comments »

The GetLastError() function returns the last error code. The Error code constants are defined in the stderror.mqh file. To print text messages use the ErrorDescription() function defined in the stdlib.mqh file.
The following table lists the Error codes returned from the trade server.

ERR_NO_ERROR 0 No error returned
ERR_NO_RESULT 1 No error returned, but the result is unknown.
ERR_COMMON_ERROR 2 Common error.
ERR_INVALID_TRADE_PARAMETERS 3 Invalid trade parameters.
ERR_SERVER_BUSY 4 Trade server is busy.
ERR_OLD_VERSION 5 Old version of the client terminal.
ERR_NO_CONNECTION 6 No connection with trade server.
ERR_NOT_ENOUGH_RIGHTS 7 Not enough rights.
ERR_TOO_FREQUENT_REQUESTS 8 Too frequent requests.
ERR_MALFUNCTIONAL_TRADE 9 Malfunctional trade operation.
ERR_ACCOUNT_DISABLED 64 Account disabled.
ERR_INVALID_ACCOUNT 65 Invalid account.
ERR_TRADE_TIMEOUT 128 Trade timeout.
ERR_INVALID_PRICE 129 Invalid price.
ERR_INVALID_STOPS 130 Invalid stops.
ERR_INVALID_TRADE_VOLUME 131 Invalid trade volume.
ERR_MARKET_CLOSED 132 Market is closed.
ERR_TRADE_DISABLED 133 Trade is disabled.
ERR_NOT_ENOUGH_MONEY 134 Not enough money.
ERR_PRICE_CHANGED 135 Price changed.
ERR_OFF_QUOTES 136 Off quotes.
ERR_BROKER_BUSY 137 Broker is busy.
ERR_REQUOTE 138 Requote.
ERR_ORDER_LOCKED 139 Order is locked.
ERR_LONG_POSITIONS_ONLY_ALLOWED 140 Long positions only allowed.
ERR_TOO_MANY_REQUESTS 141 Too many requests.
ERR_TRADE_MODIFY_DENIED 145 Modification denied because order too close to market.
ERR_TRADE_CONTEXT_BUSY 146 Trade context is busy.

Best regards,
BJF Trading Group
Metatrader Expert Advisors

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