Your Questions About Forex Mt4
December 8, 2011 by Forex Guide
Filed under Forex Account
Mandy asks…
Anyone could please tell me the best indicators can I use on MT4 for forex market?
Even if I will pay for the indicators to add it on MT4 to give a signal when to buy or sell!,please help me to find a good one!!!!
Forex Guide answers:
To master forex trading. Its is NOT about using Indicators. All indicators are lagging indicators.
To master forex trading – You need to know Price Action.
This is what separates the 5% profitable traders from the 95% wannabes.
Money management, trading psychology are the next important elements that comes into place.
This is what i do for the past 14 years.
To an Awesome trading,
Ezekiel
http://www.asiaforexmentor.com/
Mary asks…
what is the best EA (max profits, min drawdown) to run automated forex trading with metatrader 4 (mt4)?
EA is a file that can compute and perform trades in the MT4 application – the forex market, for brokers that support mt4.
Forex Guide answers:
I think Forex Tracer is the best out there at the moment which works with mt4. The Forex Tracer is USD/EUR pairs.
Http://www.forextracer.forexrobotreviews.com
Or if you want USD/JPY pairs then you should be considering Forex Funnel.
Http://www.forexfunnel.forexrobotreviews.com
Good luck
Lisa asks…
What is the best known Forex Expert Advisor for the Mt4 trading platform. Experianced Forex traders only.?
Suggest only if you have personal experiance with said advisor. Thank you.
Forex Guide answers:
Hi bob,
I have tried numerous Forex Expert Advisors but to no success except for this two EAs that has so far produced consistent monthly profits for me. They are Fap Turbo and Forex MegaDroid.
However, do not expect to double your capital every month like what they said. This is because, i am currently using them and my capital don’t double every month. But getting return on investment (ROI) of around 20% to 80% per month is possible. Don’t expect to win everytime as there are times of losses (you just have to stick it through). However in the long run, you should be able to see your account size grow.
I run both of them with different brokers and it’s been great so far. Hope this is useful to you.
To Your Trading Success,
Thomas
Laura asks…
Where can i get a free forex mq4 / mt4 buy/sell signal indicators for download?
Forex Guide answers:
Lexy,
It really depends on what indicator you are looking for. There are literally thousands. However, the best place to look is on any of the free Forex forums online. The best (most trafficked) are www.forexfactory.com and www.tsd-forex.com.
Start there and good luck!
Jenny asks…
What are the best Forex leading indicators. Also looking for recent MT4 indicators?
Forex Guide answers:
Here is a good article that explains the Most Market Moving Economic Indicators for the US Dollar.
Http://www.dailyfx.com/story/special_report/special_reports/2006___What_Are_the_1155132699816.html
This same website also has an excellent economic calendar for the currencies.
Http://www.dailyfx.com/calendar/
Here’s another economic callendar
http://forexfactory.com/
Briefing.com give a good explanation and weights the economic evensts on the calendar if you click on them.
Http://briefing.com/Investor/Public/Calendars/EconomicCalendar.htm
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Your Questions About Forex Demo Trading Account
October 15, 2011 by Forex Guide
Filed under Forex Account
Joseph asks…
When selling a currency pair, what order do I use to take profits?
I am reading and learning forex trading using a demo account. I am selling the USD/CHF. I have my buy-stop in place above the market in case it moves against me. I learned this is a good money management practice. I have my take profit target set but do not know the order to implement that will allow me to leave the computer and not have to monitor the position. Any advice from the pros will greatly enhance my learning experience. Thanks so much!
Forex Guide answers:
As a general rule of thumb, traders should set stop/loss orders closer to the opening price than limit orders. If this rule is followed, a trader needs to be right less than 50% of the time to be profitable. For example, a trader that uses a 30 pip stop/loss and 100-pip limit orders, needs only to be right 1/3 of the time to make a profit. Where the trader places the stop and limit will depend on how risk-adverse he is. Stop/loss orders should not be so tight that normal market volatility triggers the order. Similarly, limit orders should reflect a realistic expectation of gains based on the market’s trading activity and the length of time one wants to hold the position. In initially setting up and establishing the trade, the trader should look to change the stop loss and set it at a rate in the ‘middle ground’ where they are not overexposed to the trade, and at the same time, not too close to the market. Limit orders, also known as profit take orders, allow Forex traders to exit the Forex market at pre-determined profit targets. If you are short (sold) a currency pair, the system will only allow you to place a limit order below the current market price because this is the profit zone. Similarly, if you are long (bought) the currency pair, the system will only allow you to place a limit order above the current market price. Limit orders help create a disciplined trading methodology and make it possible for traders to walk away from the computer without continuously monitoring the market.
Visit this site for more information. Their system allows traders to change their trade orders as many times as they wish Free of charge, either as a stop loss or as a take profit. The trader can also close the trade manually without a stop loss or profit take order being hit. Many successful traders set their stop loss price beyond the rate at which they made the trade so that the worst that can happen is that they get stopped out and make a profit.
Should you wish to trade with them, for a minimum deposit of $100 they will provide you a personal Account Service Manager with whom you can discuss live any of your technical questions and will even trade along with you to make sure you get familiar with their system.
Jenny asks…
How to step up my Forex game?
Hola,
I’ve been trading Forex in a demo account for over 2 months now. I’ve lost everything once in the process, made over $1,000 some days, etc. But I would like to research forex trading more to get more expert opinions. I’ve read the whole beginner’s guide on www.babypips.com (good resource for people brand new to Forex!)
Anyway I was just wondering…… are there any people out there famous for trading Forex full-time and being successful at it? Are there any widely-acclaimed books or articles or schools of thought? Keep in mind I’m not referring to “systems” you have to pay for, ie. scam artists.
My forex blog:
www.yarcofin.wordpress.com
Forex Guide answers:
I don’t trade forex full time, but I have alot of experience trading other markets. I guess if you’re trading technicals then you can use those no matter what the market.
One thing I’ve noticed about forex is that if I pick a direction and enter when volatility is shrinking usually end up with a winning trade.
As for resources, I think the best teacher is going to be experience. Just trade as small as you can while you learn.
Chris asks…
I Need Someone Who Can Loan me $1,000 To Start A Business?
I am here to see if someone can loan me $1,000 to start a business. I have been trading forex on demo account and I make average of 100 pips per day. I needed some money to open a live account. I will pay back the person after one month.
Forex Guide answers:
Trading forex is not a business. You’ll have to open a margin account with your forex brokerage, or get a bank loan.
David asks…
If I Open a trade in forex, Does it mean I’m creating a “market order”?
I’m a newbie in forex trading, just downloaded a broker platform and doing demo/practice account.
There I see option called “open trade” and also called “create order”. I’m confused that whether in order to open a position shall I click “open trade” or “create order” because what I learned from forex tutorials is that in order to buy or sell instantly, you should create a “market order”, but in my demo practice account trade is opened by just mere clicking on “open trade”, so I wonder what role plays the “create order”
Forex Guide answers:
Hi,
firstly generally,
Market order means to buy / sell at current price
buy limit order means to buy at the limit price or lower.
Sell limit order means to sell at the limit price or higher.
Are you using MT4?
Anyway since you are doing DEMO, why don’t you experiment?
If it is a market order, you will see your order appear in the chart at the current price.
Pending orders will requrie you to specify a entry price and if you place it, it will appear at the price you specified.
If you are new to forex, you can visit my blog where i write articles for newbies.
Hope i helped!
Daniel asks…
does this Forex trade strategy work on the live account?
I been using the demo account and thought of this little strategy which help me profit 200 dollars in one day for a couple of hours, but I don’t know if it works on a live account. First of all I buy as many trade as I could, and put them with a volume of .05, so that means you wouldn’t profit and lose that much. Majority of the trade will be losing money, so all i have to do is wait for one to gain some amount, and i will close the trade. Thus, profiting about fifty cent. I will buy the same trade again for a low volume. If the same trade profits again, then I will buy it for a higher volume like 1. I do the same with all the other trade. This is slow profit, but really works for me on the demo version. I’m not sure if it will be like that for the live version.
Forex Guide answers:
It will not work.
Demo account is because of you large capital in it and your low volume .
In the live account, with the trading style you play. When the trade goes the other way. You would have gotten a margin call.
Forex trading does not work like this.
If you want to be a full time forex trader. You have to take it like a business.
- Proper money management
- trading psychology
- mastering price action
- exit plans
- stop loss placement
etc.
This is what we teach in Asia Forex Mentor.
To an Awesome Trading,
Ezekiel
http://www.asiaforexmentor.com
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Triple Theat FX Q&A Webinar By Todd Brown-You Have What It Takes To Be A Successful Trader!
March 2, 2010 by Forex Guide
Filed under Forex Strategies
Read this shocking 40 page PDF FREE FRWC Brutal Truth Insider Report on forex robots. Learn this powerful secret Fibonacci Retracement method FREE that pulls 500+ pips per trade something no EA can do. Register for the Triple Threat FX Q&A Webinar just now! Your Imminent FX Trading Transformation! I just received this personal note from Todd Brown and I wanted to share it with you: Todd here from Triple Threat FX. I created a different kind of video today because I wanted to share something personal with you. Several years ago when working with Anthony Robbins, I noticed one common theme among most people wanting some kind of change in their lives..
They were waiting for someone or something to come along and make the change in their lives that they were looking for. If there is one thing I have learned more than anything else it is this: I have to be the change I am looking to experience. In this day and age, probably more than ever, people from all walks of life are feeling limited in their options or outright powerless. And at one time I was there too.
But I found my way out and so can you. I am often asked why I put so much time and energy into transforming struggling traders into consistently profitable market masters. I mean, why don’t I just focus on trading my proven systems for myself exclusively and leave everyone else to their own devices?
Here’s why. To me, there’s no greater feeling in all the world than seeing my students succeed. I truly feel that it is my calling to help you realize and maximize your true trading potential and save you from years of frustration, the time and money lost in the attempt to put together all the pieces of fx trading that bring you the security and freedom you desire.
No matter where your experience has brought you to at this point – I am here to tell you through personal experience and the experience of hundreds of clients…
YOU HAVE WHAT IT TAKES TO BE A SUCCESSFUL TRADER.
You have what it takes to make a living trading. And, yes, you even have what it takes to become a wealthy trader as you trust yourself and muster the courage to make the decisions that will change your life for the better. There are two things I’d like to request. The first is to click on the link below and watch this very personal video which reveals the transformation that is in store for you by working with me. Please leave any unanswered questions you may have in the comment area or email your questions to trader@triplethreatfx.com. Secondly, register for my live Q&A Webinar that will start on Wednesday at 5pm Pacific time and 8pm eastern. I’ll make sure to answer any and all questions you may have – live and in person.
Trading Psychology FREE Video Series By Todd Brown And Candlestick Charting Webinar
February 15, 2010 by Forex Guide
Filed under Forex Trading
Get these Forex Scalping and Correlation Trading Cheatsheets FREE just now. Watch these Triple Threat FX- Trading Psychology FREE video series that reveal the secrets of making millions. It’s Time…. Time to Allow Yourself to Succeed with your Trading and Future! Let me be Frank Here! To be truly successful you need to accept some loss and forgive yourself for past trading mistakes. In the finance world it’s called an “opportunity cost” meaning let it go! No further actions will change the past, and efforts and energy spent on whatever ensued is a useless waste of your time. These actions of attempting to recoup losses will undoubtedly foster failure by causing you to focus on doubt and fear.
Replace “Loss is Painful” with…
“Not Following My Plan is Painful”.
No trade is 100% profitable.
No model performs without drawdowns and losses. None. Period.
Take emotion out of the equation.
It’s illogical to expect perfection.
Be smart, prepared and calculated…
Todd shows you how in his next video:
Norman Hallett from The Disciplined Trader Intensive Program: Todd Brown’s ‘exacting’ video series on trading discipline is something you should see. His research on how the mind works is inspiring! Don’t be fooled by the fact that Todd’s site logo is title “Triple Threat FX”, this video series applies to ALL TRADERS (we all need discipline!).
New traders who come to us here at The Disciplined Trader Intensive often ask WHY they keep making the same mental/emotional mistakes over and over again. The answer lies in HOW the subconscious mind works and in Todd’s latest video (#4 of 6 in the series) zooms in on how to be smart, prepared and calculating in your trading.
There are always conflicting opinions about where the Dow is going… especially now, after the pain of the last few years, followed by money pouring back into equities. If you haven’t yet requested this free 6-video series, do so here, as it applies to ALL TRADERS…
Brett Fogle, President, Options University: Have you ever wondered why many of the world’s top traders use candlestick charts every day? Simple…Because candlesticks show you DOUBLE the information of old-fashioned bar charts. But when traders use candle charts incorrectly, the consequences are costly. That’s why I want to invite you to a valuable webinar next week… as my special guest.
“Candle Charting Basics & Beyond: Catching The Next Move”
========================================
MEET STEVE NISON… FATHER OF CANDLES
========================================
Attend this webinar and you’ll learn these vital principles from Steve Nison himself. He’s the guy who brought candlesticks to Western traders. And he’s an expert at showing how to combine candles with technical indicators for spotting reversals BEFORE your competitors. In other words, Steve is THE EXPERT when it comes to candle charts. From my viewpoint, there’s no one else you should even listen to on the subject. (Because everyone else just copies his strategies!)
When you discover these valuable trading insights, your confidence will grow and you’ll know how to maximize your profits with candles. As my guest, there is no cost to attend this webinar. Seats are limited, so claim yours now:
DATE: February 18, 2010
TIME: 8:30pm EST (New York time)
LENGTH: Approximately 45 minutes
Full information about this no-cost webinar is available here…Don’t delay — get your spot now. I look forward to having you join us! Trade Smart. Not Often.
FX Mental Training System
February 13, 2010 by Forex Guide
Filed under Forex Strategies
Get these Forex Scalping Cheatsheets FREE. Learn Fibonacci Retracement and donwload this Fibonacci Strike Method FREE that pulls 500+ pips per trade. Watch these 6 great Triple Threat FX Trading Psychology Videos FREE that will change the way you trade FOREVER! David Gonzalez: Training your mind for Forex profits takes work, and my system is designed to make it easier for you to have a calm and relaxed demeanor while trading the forex markets, so that you make more money. You can also watch a short interview video Jonathan and I shot earlier today, so you can see the man behind the system. Give the Forex Mental Training system a try today. If you don’t like it, I am offering a 30-day, 100%money-back, no-questions-asked guarantee, so you can’t lose!?
Important Notice: We forgot to mention that The FX Mental Training System is only available for the next 48 hours. So, if you’re ready for an easy and enjoyable way to sit back and automatically “upgrade” your trading mindset, now is the time to “install” it and enjoy the profits that follow.
Jonathan Herbert: Some traders have asked what specifically is in David Gonzalez’s Forex Mental Training System? David’s system includes 11 instantly-available digital audio downloads that effortlessly train your brain using his “Million Dollar Mental Training Technology.” Each of these 11 mental training sessions will guide you through a process of relaxation, visualization and mental rehearsal that will get your mind and emotions in the right place to consistently profit from the markets.
This is leading edge “mental programming” technology that David has used for close to a decade at his last personal development center in Austin, TX to help people lose weight, quit smoking, enhance their sports and now their trading performance. You can also watch a short interview vid I had with David earlier today, so you can see the man behind the system. Give the Forex Mental Training system a try today. If you don’t like it, David is offering a 30 day, 100% money-back, no-questions-asked guarantee, so you can’t lose!
My friend David Gonzalez has just released a new video on how to train and develop your mind for consistent forex trading profits: I’ve spent the last 10 years of my life helping traders to become more consistent and more profitable in the markets. I’ve worked HARD on my own trading, and I’ve seen thousands of traders come and go in that time. And here’s what I know to be true…to win in the markets, you MUST have an edge. You MUST adopt extremely mature “mental patterns” and total emotional control.
Why?
Because the markets are made up of other traders. When you make money in the markets it’s because someone else loses money. This is not charity. There are winners in this game, and there are losers in this game. When you’re betting a pair is going down, another trader is betting it’s going up–that’s how markets work.
And you have to master your mind and your emotions.
Because if you don’t, then you’re trading against someone else, who has mastered theirs. When that happens, then it’s only a matter of time until your emotions get the best of you, and someone else ends up “taking” your money.
This is good news for you, because now you can gain “the edge”…
David’s video explains everything: I urge you to watch David’s video and to use his system to master your mindset. It’s the one thing, that above all else, is mandatory to your success as a trader. Absolutely nothing is more important than understanding your own psychology when it comes to forex trading–NOTHING.
David has put together a surprisingly insightful and interesting video that gives you a tour of the inner workings of your mind and how it affects your trading profits. You need to watch David’s video now if you want to profit long-term in the markets…
