4xmeter
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Posts posted by 4xmeter
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If this indicator works, great post! Most broker do not guaranteed any script or expert advisor performance; therefore, one cannot reclaim funds base on them.
What will be the excuse with a third party indicator? Hypothetically asking.
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Mench! I though for a second that was the famous SEFC indicator. Hey!
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My Main point of view on this indicator; by the way, the best of all meter out there (specially in accuracy beat the tsd gang meter and others not to mention its features.). I do not use it as elaborated as the creator does, he has even an EA for sell.
Which currency is the stronger? The answer define the trend against a weaker currency according to its correlation. At the beginning of the day is unreliable.
If fluctuates about two hours of opening day, then there is no trend. Fluctuates meaning, the weaker becomes the stronger and again and again. For me, this indicator only indicates where you should be trading. In one direction volatility. Entry and exit; use your system indicators. By the way, a range greater than 2 in the strength numbers is ok for me below that watch it. I believe 3 is to high as a level of strength measurement..
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I am going there now, If so, I would follow your instructions.
Thanks
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I would like to trade the 1M TF. Call me crazy! I know. Well, that is the talk in town. If you do that.
I hear that all the time; What? Trader talking about that "I used to trade the lower TF, now I am trading 1 hour, 4 hour TF.
My problem is that I do not trust commercial forex system talk or their systems. So I want to do the opposite, I going to trade the 1M TF. Am I kkrazy? Since I do not used robots. I going to try and I need a Public domain indicator for the 1M that you consider to be good for it.
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Some interesting indicators in their blog. I am not going to check them out; I am complete.
- darkwalker, taipan and newbie111
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http://www.4shared.com/file/bBIwCnYp/25M.html
This indicator is a 25 % increment atr; being the Danger Area line at 100%.. If you like to play with it change the bool false to true on the mq4 file. For me to many lines. I like to Keep it simple.
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i put your indi on and found that. this indi takes up alot of cpu resources and slows the platform down considerably!! don't know if it's just me??
It must be you! No problem here.
Tweak the input according to your TF. It is up to you to figure out the right settings. It seems a fair good indicator to me. So Far!
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The following are the exactly hours at which such movement occurred.
GBP/USD Time:
#4
08:45/02:45
10:00/04:00
10:15/04:15
15:15/09:15
17:15/11:15
20:30/14:30
#3
09:00/03:00
09:30/03:30
15:45/09:45
16:15/10:15
16:30/10:30
17:45/11:45
#2
07:45/01:45
08:30/02:30
09:15/03:15
10:30/04:30
20:45/14:45
22:45/16:45
#1
08:00/02:00
If there is any discrepancy between post #1 and this one. I would say that this one is more accurrate since I have the tally in front of me. This is not entry or exit hours. The inference is up to you.
Again for clarity, the 35 pips criteria is only for the signal indicator that I used; meaning that if the signal indicator indicate an entry and exit less than 35 pips it didn't count for the tally.
Thanks for asking.
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I did not considered movements less than 35 pips. Sometimes this movement last it from 08:00 to 02:00 (EST) of the next day, when the exit was trigger.
Let's say, if between that time period, a 20 pips movement occurred, with a similar entry and exit; it didn't override the 08:00 beginning entry because it wasn't greater than 35 pips. No movement occured between that period greater than 35 pips, up or down. Therefore, the above time is a trend time.
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This is the result of looking at the cable charts at when the movement begin to occured. They are by section and order of importance. 1 has the more occurrence of beginning movement. Based on a 5TF.
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Beginning of Pip's movement hourly
FROM 2010 YEARLY (SCREEN) DATA
Time: EST
Asia Section #2
GBP/USD TIME
00/18
01/19
02/20
03/21
04/22
Asia section #1
07/01
08/02
09/03
10/04
European section #4
GBP/USD TIME
20/14
European section #3
10/04
11/05
European section #2
22/16
23/17
European Section #1
14/08
15/09
16/10
17/11
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You only been a year or so in this business if I not mistaken. You are also a very irresponsible dude.
Anyway, my honest opinion is that it is very difficult at the beginning stages to make a living of Forex. Not only is required to have a good system but you have to develop certain character as a trader. Both are difficult to acquired if you do not have it from the beginning. I am saying hard to get not impossible to acquired. However, it required lots of time on hand if that is the situation. I have to admit that I am HUMBLE by the Forex experience. Another variable to add to the equation of system and trader character but less important if you possess the last two is the broker dealing desk. I just caught them cheating on my Expert Advisor. In the retail Forex no broker guarantee the performance of an EA. Good traders as Hector are saying that without question and beyond doubt EAs do not work.
So what we got: System, Trader Character, Good Broker (only through a future broker, not retail then money for that one) and time. (EAs do not work).
Now, which one do you need?
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My recommendation is to put EA in manual mode if a signal is given the best is to refresh the chart. Sign off and sign in. In that way you would get the real rendering of the actual data. The drawback is the lost of momentum. None of the less, is better to be sure than sorry. Happy trading!
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This maybe true or not but irrelevant in the false rendering of the data. What I mean by rendering?
When a Candle or bar trigger the EA.s to execute an order under false information. Meaning, data is down, the rendering is up by the broker's computer server. Who can beat that! Yeah! Metatrader script. I told you so!
FXCM give me this information:-----------------------------------------------
There are some adjustments that need to be made to MetaQuotes Language MSQL4 scripts (MQL4 ,
Expert Advisors) due to differences between Instant MetaTrader 4 and STP MetaTrader 4. These
include, but are not limited to:
1. Scripts that use Instant Executions to place market orders with take profit and/or stop losses
attached will not work. Instead, a market execution must be placed and then a take profit and/or
stop loss added to the position.
2. Hard coding of +/- calculation of pips for profits may need to be adjusted to reflect the fifth
decimal place of our STP.
It is advised to change the following line :
OrderSend(Symbol(),OP_BUY,1,Ask,3,Ask-25*Point,Ask+25*Point,"My order
#2",16384,0,Green);
With :
ticket=OrderSend(Symbol(),OP_BUY,1,Ask,0,0,0,"My order #2",16384,0,Green);
if(ticket>0)
{
OrderSelect(ticket,SELECT_BY_TICKET);
OrderModify(OrderTicket(),OrderOpenPrice(),STOPLOSS,TAKEPROFIT,0,Green);
}
else
{
Print("OrderSend failed with error #",GetLastError());
}
Instant MetaTrader 4 platforms typically quote forex pairs in pips, which means 4 decimal places on
most pairs and 2 on JPY-based pairs. STP MetaTrader 4 quotes pairs to the tenth of a pip, which adds a
decimal place. Trailing Stops in MetaTrader 4 are measured in “points,” not pips. Thus a 15 point
trailing stop on Instant MetaTrader 4 must be entered as a 150 point trailing stop on a STP MetaTrader 4 to get the same 15 pip trailing stop results.
---------------------------------------------------
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On this matter, I am preparing a complaint with proof to the regulatory agencies.
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By the same logic an EA using RENKO Charts is unreliable. In the present condition EAs are a trap.
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Ea's cheating
You are right. Anyone, who uses EA with windows XP or lower OS is going to loose money. Very few trader has noticed it. The problem is not in the script of mt4 but in the rendering of the data by the broker's server. Therefore, they used it (retail brokers) for EA's manipulation in all micro accounts. In another words, cheating.
The problem persist with win7 but in a small scale. If you ask any broker about EA they all say the same thing; mt4 script. Then, if you use an EA and caught them cheating; no return of your money. How wonderful!!!
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Race to the Bottom
by Peter Schiff
Long ago, before economic models developed their current levels of sophistication, it used to be that the goal of a government's economic policy was to bring prosperity to its citizens; in other words, to raise the general level of material comfort, while at the same time reducing the amount of toil required to attain that end.
However, due to the blather spouted by modern economists, success is no longer measured in those terms. Instead, governments simply look to pump up nominal levels of gross domestic product (GDP), while simultaneously catering to the needs of entrenched political classes. As exports feed directly into GDP, currency devaluation has been widely used as a means to boost exports and therefore achieve "prosperity." In this model, selling is an end unto itself. There is no focus whatsoever paid to the obviously negative consequences of currency debasement: diminished purchasing power and lowered living standards.
Way back in the 20th century, a nation's currency was viewed much as a company's stock price. The reliability, competitiveness, and growth of a national economy usually translated into a strong currency. This system made sense.
Countries that offered the most fertile soil for investment capital or that made products other countries wanted would attract funds from abroad. Demand for the currency of these "blue chip" countries (which was needed to invest or buy locally) would inevitably push up the value of the currency. And so, much as shareholders of successful companies are rewarded by higher stock prices, citizens of successful countries were rewarded with stronger currencies – with which they could buy more goods and services both domestically and internationally, raising their living standards.
But all that has changed in recent years. With a strategy that seems to be taken from the playbook of Sam Walton, governments now look to take market share from competitors by lowering the cost of their exports. To do this, they have adopted a beggar-thyself policy of habitual currency debasement. Although such a move may benefit those who buy the products, it is a burden to the country's own workers who, like Wal-Mart employees, have to get by on subsistence wages. While the markets like a low-cost provider, this is not a niche that everyone can, or should, fill. While some will compete only on price, more successful ventures will compete on quality and innovation. For every Kia, there is a Mercedes Benz.
Given the US dollar's status as the world's reserve currency, America's oversized status as the world's biggest consumer, and the influence of overseas export-oriented businesses on their home governments, the falling dollar is a difficult issue for many countries to ignore. And with the imminent arrival of a second round of "quantitative easing" from the Fed, the big guns of dollar destruction are being locked and loaded. The move looks poised to set off a frantic race to the bottom among global currencies, which will have important ramifications for every investor. Unfortunately, this is one race the United States is poised to win.
The goal of those trying to win the race to the bottom is to promote exports and create jobs. However, people don't work simply for their love of labor. They work so that they can earn enough to consume the things they need and want. Under normal conditions, a nation only exports its production, rather than consuming it domestically, to leverage its comparative advantages. If a country can produce one type of good especially efficiently, it can trade that good for other goods it doesn't make as efficiently at home. As a result of this process, its citizens will be able to consume more goods than if consumption had been limited to domestically produced goods.
However, when a government debases its currency in order to gain sales overseas, the nation earns less foreign exchange for the goods that it exports. As a result, its comparative advantage is blunted, and its citizens consume less as a result. In other words, as a nation's currency declines, its citizens are forced to work harder for less.
If a department store decided to have a sale in which all of its merchandise were marked down 50%, it will surely sell a lot more stuff. However, it would earn a lot less than if it had been able to sell its goods without marking them down. This is how currency debasement works. Similarly, one way for the unemployed to get work is to accept lower wages. Workers will sell a lot more of their labor if they accept 50% pay cuts. However, are they better off as a result? Relative to being unemployed, the answer is yes – but they would be much better off being employed at full pay.
Last week, Brazilian Finance Minister Guido Mantega made headlines when he mentioned that a worldwide currency war was brewing, with the winner being the nation with the weakest currency. Ignoring the irony of why countries would want to destroy their own currencies, Mantega reasonably warned that the conflict could get out of hand and destabilize the global economy. His comments came in the wake of overt efforts by both the Japanese and Swiss governments to intervene in the foreign exchange market to push down their respective currencies.
The politics of currency intervention are actually quite simple. Japan's economy is dominated by large manufacturers that export lots of goods to Americans. The problem is that Americans can't really afford to buy in the quantities that they did just a few years ago. So, instead of looking for new customers with more money to spend, Japanese manufacturers use their political clout to force a bailout of their traditional US customers.
Essentially, in order to protect the status quo of their elite, governments are surreptitiously forcing workers to take pay cuts through inflation. Everyone works harder, but the extra effort does not raise living standards. In fact, despite the added jobs, overall consumption will fall.
The irony for the United States is that its currency debasement plan has little to do with saving export jobs. We don't have many of those left to save. The government is debasing our currency merely to "pay" its own bills, preserve bank profits and Wall Street bonuses, allow us to continue buying homes we can't afford, and prevent many service-sector workers from having to find more productive jobs. In return, they will perpetuate an unworkable economic model. So while the US will probably "win" the currency war, we will definitely lose the far more important battle to improve our quality of life.
October 2, 2010
Peter Schiff is president of Euro Pacific Capital and author of The Little Book of Bull Moves in Bear Markets and Crash Proof: How to Profit from the Coming Economic Collapse. His latest book is How an Economy Grows and Why It Crashes.
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Posted · Edited by 4xmeter