Your Questions About Forex Mt4
December 20, 2011 by Forex Guide
Filed under Forex Account
George asks…
What the total procedure to make a forex website?
i want to know where i have to registar to build my own forex site then from where i have to buy MT4 Platform and how much money is monthly cost to build a new forex site?
Forex Guide answers:
To build the site you would need a domain (basically a name of website), you can go to godaddy.com and buy a name (will cost you 10-15 USD per year)
Then a hosting company which will host your webpages ($10-$15 per month)
Paul asks…
Help me to find a forex broker in UK with 5 day chart with a New York Close MT4.?
Forex Guide answers:
I’d go with http://comefollowme.zulutrade.com/SignUp_Intermediate.aspx and then it will give you a long list of brokers you can use. For you, I’d select either FXCM.co.uk, or global.fxdd.com.
By opening your broker account through the link above, you’ll also get some additional features added to your account that those brokers don’t normally give to everyone, mainly, the ability to follow signal providers. If you are totally not interested in this feature, and you’d rather just use MT4 (or, if you’d rather BE a signal provider), you’ll need to go directly to FXCM.co.uk and set up an account with MT4 access. But then you won’t have access to the something like 8,000+ free strategies that you get access to by using the link I gave at the top. It’s up to you though. 
FXCM by the way would be my first choice, since they have no dealing desk. FXDD has a dealing desk, and their disclaimer says they make profit when you lose money, and they lose money when you make money, so watch out, because they actually want you to lose. That’s what a “dealing desk” is. Oh, and their disclaimer goes on to say, that their prices which they send to you are fabricated, and they can make the market appear to move against you anytime they want, and they can make the market move in different directions for different customers at the same time. Very scary stuff.
Both FXCM and FXDD are really big though, and both of them are compatible with signal providers, and both work with MT4 also.
EDIT: I don’t think MT4 supports 5 day charts.
Robert asks…
I am aware of FOREX EA’s… What about Futures Trading Robots?
Hello,
I have been doing a lot of research and there are dozens and dozens if not hundreds of EA’s for use on MT4, trading FOREX.
But I am unable to find anything on robots for Futures trading. While I look forward to manually trading Futures in the evenings, it would be nice to have something to catch a good trend during pit hours, while I am away at work.
Thanks for any tips or keywords that may assist in a Google search. ; )
Forex Guide answers:
I haven’t also come across any automated futures trading system or what you are calling a futures robot. There are many futures contracts that you can trade. Maybe this has to do something with the nature of the futures market. You haven’t mentioned what type of futures contract you want to trade. Infact there are many dozens of futures contracts like stock index futures, crude oil futures, interest rate futures, commodity futures, currency futures and others. Futures markets are a lot different from forex. Futures market is a highly regulated market. You can find both price and volume in the futures market unlike forex where you only have the price action.
I came accross a swing trading strategy that works for forex, stocks and futures. This swing trading strategy takes not more than 10 minutes to trade each day. Many people think that automated trading is the solution or what you call the Holy Grail. Infact there is no holy grail. Successful traders are those who learn to trade manually first. Automated trading systems without knowning how to trade manually do not give good results as market conditions keep on changing and if you have the feel of how the market is changing you can change the setting of the automated trading system. You can only develop the feel of the market by manual trading. First practice and paper trade for one to two months. Only then trade live. Good Luck!
Richard asks…
What is the forex trading software on which you can tag the buy/sell actions?
I have been using MT4 but it doesn’t seem to allow me tag the buy/sell action. I have seen people using other software that can do this sort of thing. Does anyone know?
Forex Guide answers:
If you just want to draw something on the chart with some text or whatever, you can use the CreateObject function in MT4.
I post my buy/sell signals in real time right here: http://comefollowme.zulutrade.com/Performance.aspx if you are interested in following me. Also there are a lot of other professional forex traders there who are also posting their buy/sell signals in real time. It’s a great alternative to MT4 if you are having trouble with MT4.
Jenny asks…
I would like to learn FOREX trading as a teenager?
Hi, Im 16 years old and living through the last couple of years ive realized no job is safe, and that i want to be successful and live a long, healthy, and great life without having to worry about financial problems. Ive been reading about forex and practice trading on a mt4 platform but i was just wondering if anyone had any books or programs to recommend, thank you
Forex Guide answers:
Forex is a very risky business if you don’t know what you are doing and it takes years to learn and become good at it..
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Your Questions About Forex Mt4
November 24, 2011 by Forex Guide
Filed under Forex Account
Donna asks…
What is the best Forex MT4 trading platform indicator ?
Only suggest if you have used the indicator and have had exceptionaly good success with it . thank you. I know there are literly thousands of them out there , but most are about as close to worthless as worthless can get. Thank you .
Forex Guide answers:
I have not yet come accross an indicator that was any good. I beleive its better to focus on price and price action.
The only indicator (although it could be called an overlay) that is use are moving averages, these can be used as dynamic support and resistance levels, for example, price will often respect the 8 day ema on a daily chart.
Carol asks…
How can i save an mt4 forex indicator created in notepad for it to function well in the metatrader platform.?
I have the codes already prepared in a notepad. I need to know how to know if i can save it there and there for it to work as mq4 mt4.
Forex Guide answers:
1. You have to create a new file named my-indicator.mq4 and copy the code there.
That’s it.
2. Then on your PC open a folder with MetaTrader, go to Experts, Indicators.
Copy the file with your indicator there.
3. Restart MT4.
You’ll find your indicator among Custom indicators in the platform menu.
Good luck!
Laura asks…
Do anybody have a idea of range bar indicator for MT4/5 forex trading software?
I am using MT4 forex trading software in future markets and want to use analalytical tool for comparision with range bar candlelight . so i would like to install it in my MT4 software
Forex Guide answers:
To learn more about candlesticks trading and MT4 indicators and how to use them:
http://www.forexmarketscience.com/technical_indicators.htm
http://www.forexmarketscience.com/trading_platforms.htm
William asks…
Is there an Forex MT4 platform which lets traders rewind time by at least a month and replay the chart?
Forex Guide answers:
There are two ways to do that in MT4, if I understand what you mean.
1. Turn off Auto-Scroll, rewind the chart manually, and press repeatedly F12 to advance one bar at a time.
2. Use the Strategy Tester to backtest an EA that doesn’t actually place any trades. That way, it will advance automatically, and you can control the speed.
Thomas asks…
What are the larger Forex Brokers all around the world not only in america and what are the larger with MT4?
What are the larger FOREX brokers and what are the most using the trading platform of Meta Quotes Language – MT4?
Forex Guide answers:
I always thought GFT Forex was one of the larger forex dealers in the world.
Altough I don’t use them personally.
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Your Questions About Open Forex Trading Account
November 4, 2011 by Forex Guide
Filed under Forex Account
Ruth asks…
Which are the legitimate Forex Trading companies? Which is the authority registering these companies?
I am looking for some legal Forex Trading companies to open account with. There are so many fraud companies in this field which are working without registration and loots the public money.. Also I want to know which is the authority giving regestration for these companies where the list of these regestered companies are published. Any body please help me out!
Forex Guide answers:
Great question and great timing.
Although there is no official regulatory agency that has hold of the reigns of the “spot Forex” marketplace the NFA (National Futures Association) has regulatory responsibility for the “Forex futures” market. Since the “spot Forex” market is currently resembling the wild west with some questionable players popping up every day a number of Forex brokers are establishing processes so as to be “compliant with NFA policies and regulations”.
There are current rumors that the NFA will soon require a certain level of financial stability and available funds so that brokers are able to support their operations during irregular markets. Currently a broker can simply close up shop and sail into the sunset with whatever money they can.
A Forex colleague of mine has shared with us a government report indicating the financial stability of 170 Forex brokerages. The consensous seems to be that the NFA will require $5M in available funds within the next couple of months and up to $9M by the end of the year.
Send me your email address and I would be happy to share this report with you and you can see where your broker stands.
Paul
Thomas asks…
Can I open a Forex account to exchange USD for CAD, and what about taxes?
I just came to Canada as a permanent resident. I am looking to buy a house and need to exchange some money from USD to CAD. I am looking for a place that can give me a good exchange rate.
The banks don’t give me good exchange rates (their spreads are so high), so I was thinking about opening a Forex account and trade my USD for CAD.
I called a local broker and he asked me to set up a Forex account. Once the account has been set up, he said I would be able to exchange my USD for CAD at a much better exchange rate (compared to the banks).
Now my questions are:
1) Is it true that people can open a Forex account to exchange money (e.g. from USD to CAD or the other way) ?
2) In my case, it will just be a one time exchange (from USD to CAD). So do I have to pay any kinds of tax related to this ? And at the end of the tax year, do I need to declare anything about this when I file my tax ?
3) If the Forex way doesn’t work out for me, are there other alternatives ?
Thanks a lot for your help.
Forex Guide answers:
No, forex trading won’t normally let you exchange one currency for the other, unless your broker actually let’s you upload USD into your account, and then lets you withdraw it as CAD, which is possible. But unless the broker itself will do an exchange like that, the “Forex” markets are not designed for that. When you trade the Forex, you are not trading one currency for the other. What you are doing is you are trading the exchange rate between two currencies. So, for example, 0.9737 is the exchange rate right now for USD/CAD. And “USD/CAD” is the name of the market for USD and CAD. Note, there IS NO “CAD/USD” market! That’s because the Forex is not designed to trade back and forth between two currencies. It’s designed only to trade the exchange rate, and thus, “USD/CAD” is the only market. And then when you make a trade, you don’t trade your USD for CAD. Rather, you are trading that 0.9737 value. IF that 0.9737 value goes up, and you are buying, then you make profit. IF it goes down, and you are selling, then you make profit. If you are in the wrong direction then you lose money. But if your account is in USD, when you enter the trade you are still USD, and when you exit the trade you are still USD. So like I said, unless the broker has a specual thing that they do to change your USD into CAD, then all I can say is that the Forex is not typically designed to do that.
P.S. On a side note, if you are looking to trade the forex for profit, the best site that ranks strategies is http://comefollowme.zulutrade.com/Performance.aspx , and all you have to do is go there and click “Add to Portfolio” on any strategy you like, to begin.
Steven asks…
How do I add Forex trading to a revocable trust?
My broker states “For opening forex accounts we need a copy of your Trust Agreement. Your trust agreement must explicitly permit Forex trading.” I did my trust online by myself. Is there correct verbiage to use, or just say “Forex trading permitted?” somewhere in the trust?
Forex Guide answers:
REVOKE the trust and have an ATTORNEY draw up a NEW trust that does what you actually want the trust to do. If the existing trust does not already allow whatever it is, you CAN’T just add ANY language to allow it.
Donna asks…
How can I start trading forex using autopilot method?
I have just opened my trading account and I am trying to decide on buying an autopilot forex trading software.
Forex Guide answers:
There’s a new autopilot forex trading software going to be launched and promises to be really sensational. If you want to try autopilot forex trading, go for the latest. It is likely to be sold out very fast.
Http://ForexLoophole.info
Charles asks…
does anyone have good expeirence with forex trading and would like to share it with me.?
As i would like to open a live Forex trading account soon and need some advice, and does anyone use Forex signal companies and which one would you recamoned.
REgards
Forex Guide answers:
Hi, you can try easy forex. The pioneer in forex market.
Http://www.bernanke.cn/easy-forex/
Wish you make a fortune!
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Your Questions About Free Forex Account
October 23, 2011 by Forex Guide
Filed under Forex Account
Jenny asks…
What is the best platform for Forex Trading?
I want to invest in forex market.It seems more hopeful in future.which plat form gives the best analysis and free practice account with some bonus.I need real answers!!!!!!!!
Forex Guide answers:
There is no good FX platform or company.
There are only ones less bad. Be very careful…. It’s very easy to make money in a practice account. Paper money trading should never be used as a guide to the future. You only want a US regulated company (anything else can lead to great financial pain).
Some good choices;
GFT
InterbankFX
A great example of what to avoid;
eToro
finexo (very, very, very expensive)
Two good web sites for you;
http://www.fx360.com/
http://www.babypips.com
George asks…
Forex traders and people : how is marketiva?
I just open a free account in marketiva.com.. I can do with virtual money, and they also give 5 dollars for free for doing in real.
IS it good…?
Which are other who give free money to play at first?
(i will ask another question related to forex)
Forex Guide answers:
Most brokers provide demo account and some of them will give you bonus when you open a real account.
Etoro gives up to $10000 on your first deposit but of course that means the deposit needs to be quite high.
You can also get 10% cash back for free, worth up to $1000 if you deposit $1000 or more from Forexyyard.
Instaforex offers welcome bonus.
Hope this will help.
Maria asks…
What is the best forex broker in UK ?!?
Hi
I used to trade Us stock market .. but recently I’m trying to try the Forex .. I started with a Demo account but really confuse about the broker that I should use for the real trading ..
I contacted FCMX , ETORO , forex.com
I don’t want to go for ETORO because I tried there platform and it really suck! Lot of error and very slow support I didn’t like it ..
the good thing with forex.com that they provide free esignal account ! but I dont know how good they r ! the same for FXCM
please suggest for me the best broker in ur opinion and WHY ?! and also the best forum for FX traders ! so I can get read more there !
Thanks
Forex Guide answers:
Every person has diffrent methods to jugde and reviews the best broker as scalper use the broker that has constant spreads on news and on spikes.
Some day traders dont care about spread changing during news.
So first to know which type trader you are and after that search for a good broker.
As my own experince i am using 3 diffrent UK brokers..
Alpari.uk , thinkforex and forex.com
they all are best for me..may be not for yuu so try to search your self about broker that you like
Sandy asks…
Looking for a quality forex robot. Any suggestions?
I recently started reading about forex robots that do forex trading for you and make profits as a result. I decided that this was interesting enough to investigate further.
Basically, I have seen a number of these robots on the internet, all of which have been highly recommended by various sources. Can anyone recommend a forex robot that would work well for me?
If I do decide to do automated forex trading, I can only give an initial investment of about $200, so it has to be a robot that can work with small deposits. Also, I would prefer this robot to be fully automated, though I’m open to accepting robots which require some management. If the robot is free, I would also prefer that, though I don’t mind paying for it (why do these people need to charge money for a system that is used to make an income?). While I’m at it, can anyone suggest a forex trader that will accept a deposit that small, allows trial runs on a free account, is registered with the NFA (http://www.nfa.futures.org/ ) and the CFTC (http://www.cftc.gov/ ) and is compatible with the selected robot?
So that is my question. I am aware that there are people that will try to use their answer to promote the product of their choice (even if it means lying) and will earn some commission when I purchase the robot. So I have to set some rules for the answers provided here:
No Affiliate links or links to sites with affiliate links,
No redirect pages
No testimonies from people who haven’t used the forex robot mentioned in their answer.
I already know where some of the more well known forex robots are found and a search engine can probably find me the rest. As a result of these rules, there is no reason for anyone to give a glowing testimony they would usually use to sell the robot, since said people aren’t allowed to use affiliate links and hence can’t earn commission from a sale. If you need to put a link to the forex robot’s main web page, use the actual page’s address instead of one with your affiliate link in it. And don’t put the link to the page in a redirect link (such as Tiny URL.com) because that can be used to hide an affiliate link.
The third rule also applies to people who haven’t used forex robots because they think they are scams. I would prefer answers from people that have genuinely used a robot and can share their real experiences with it.
So that is my question. I say thank you to everyone who decides to answer my question.
http://bizsolbiz.com
i hope that resolve your problem.
It didn’t! It’s a search engine.
http://bizsolbiz.com
i hope that resolve your problem.
- Unfortunately it didn’t help me! It appears to be a search engine and the only info on Forex I found was one paragraph with no link to products or more info.
@Gobbler
- Like I said in my question, I would prefer a negative answer from someone who has actually had a bad experience with forex robots. The reason for this is that you, for example, might say that forex robots are scams when in reality, they are actually real money makers. And because someone like you scared me off with a negative opinion, I never get to utilise this income opportunity. I agree that there are scams that are labelled as legitimate income opportunuites, but on the other hand, the same logic holds that there are legitimate income opportunuites that might get labelled as scams.
no robots trading .honestly they dont work.
my advise is use any auto trading strategy.now a days forex yard started auto trading strategy by proffessionals. u can find here more use full info about it
http://forexplatformslist.com
- Thank you for that. Have you personally used a forex robot? As for forex yard, your link was a bit unclear as to what it actually involves. I know that forex robots interact with your forex account to buy and sell forex for you at a profit. How does forex yard do automatic trading though? Could you please provide me with more info in this regard?
@Advisor
Thank you for your answer. Unfortunately, the website you linked to has an affiliate link (most likely yours) to the product’s page. I clearly said, “No Affiliate links or links to sites with affiliate links”, which you have done in your answer.
You are correct, I am a careful person. That is why I now have serious concerns about the quality of your answer. Not eligible for Best Answer award!
@Livermore
The best recommendation I can give you is this one: Forget Forex Robots. They are useless.
- Do you say that forex robots are useless because you have used some and they didn’t work or because you have made an assumption? Please provide evidence that they are useless. That goes for Jack as well.
Just some more comments for Julie:
Paragraph 1:
- You do have a point there.
2: That’s why I made the “No affiliate links” rule. That way, their lies won’t earn them a commission. In fact, I just dismissed one answer here because they put an affiliate link in their answer. There is no way I am going to trust their answer, even if the affiliate link is removed.
3: That might be correct as well. In their defense though, it is common knowledge that you should test the forex robot on a demo account before you invest real money into it. Hence, the people who use the robot should have more than enough warning that it doesn’t work before they start bragging about their sucesses.
4: Could just be a marketing technique. They go to any measure to convince people that their product is the best, even if it means lying about their competitors.
5: That’s why this question exists, to get that proof. Furthermore, can you please share the details for the forex robots you HAVE tried in the past?
Forex Guide answers:
The best recommendation I can give you is this one: Forget Forex Robots. They are useless. If you want to make money in Forex, work on it and develop your own trading system.
Laura asks…
Does anyone know how Forex Android can be tried out for free?
I’ve recently came across this Forex trading solution. There are good and bad reviews about it across internet as with anything.
I would like to tap into the forex market long time ago, and this solution seems to be something worth to try, and I’ve heard that it is freely available.
I am still not sure what it does exactly…
Is it like an Expert Advisor which can be installed on a Metatrader platform or under any other forex trading software?
Does it actually do the trades or it is “just” a signal service?
There are so much scam EAs and similar out there that I am very cautious about this. So basically I would like to try it on a demo account then on a live micro account etc. Is this possible?
Please if You use this software (Android) and have experience with it, then post your thoughts and impressions here.
Thanks in advance for your answer and time which you’ve spent with it!
Best Wishes,
Mate
Forex Guide answers:
I just read nice guide on forex, It’s called Insider’s Guide to Forex Trading and I would reccomend it to anyone trading on forex. If you want to make money on forex this could be most important book you’ll ever read!
It covers everything there is to know about Forex trading.You can find more details here:
http://choprz.com/pz02x/
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Forex Trading: Which One Trading Strategy To Select To Earn A Great Deal?
September 27, 2010 by Forex Guide
Filed under Forex Book
It is absolutely true that looking for the most beneficial Forex trading system in the currency trading market may not be quite easy task. Indeed, there will be a lot of them available for you to utilize. But it is true that you also require to have a bit of caution as you started your selection process. Unfortunately there will be some types of software that would claim to provide you with the best benefits and provide you with great earning. But in a reality they might leave your trading account totally empty in the end.
Actually there are some reasons why you need to find the best Forex system to start your trading activity. Why? Because:
If trading software is designed well, it will save you plenty of time. So it is imperative to make sure that you have carefully tested your trading system. If you don’t intend to end up at the loosing your savings you are just to find out that the trading system tested is not working in the manner you want it to work.
If you select the best Forex trading software, it will help you simplify the complex characteristics of the modern currency trading market. If it is designed well enough, it will surely provide you with really helpful information which can potentially increase you profit. In addition you will be provided provide with quite useful trends that will most likely assist you with making right while trading Forex.
But still it is necessary to keep in your mind that there really is not such a thing as totally perfect trading system. So if you already have been in a Forex trading for a particular period of time and have gained good grasp of currency trading, you might also consider developing some system of your own. In this event, you will never face the challenge of different curves your trading system does and the make it the way you intend it to work. Actually I consider that it will be most beneficial Forex trading system for you.
It is also quite necessary to make sure that you are quite knowledgeable about the trading system you use. It is a wise step to identify if it gives you everything you want at the same time; don’t forget to test the features to get a full feel of what the trading system involved can do for you. It is highly recommended that the provider offer you some free trial period.
It is true that which ever currency trading system you select, just make sure that it is really the best Forex trading system which will truly work towards your benefits and great advantages in this complicated market.
Today more and more people try to trade with forex software. If you are searching for productive forex software – please read the review of this forex software, before purchasing any.
It is obligatory to read unbiased reviews of this sort of software before purchasing any forex currency software because you will be aware of to what to pay attention to.
