karanmehta

Re: Automated System or Manual System?

I have found to manually trade the basket of EA's the best strategy so far....the whole idea is you can't be successful if you are expecting some magic EA to make millions for you. You either trade manually or through an EA...you'll still need to thoroughly monitor it.

Re: How to close all orders in MT4 ?!?! Imprtant!!

Find attached the script which will close all open MT4 positions. If you want to be chosy, It has setting options for which orders to close and is helpful for closing a large number of open or pending positions quickly. It also has the option to just close trades with a specific magic number.

INSTRUCTIONS FOR USE

1. Download the files from "hxxp://www-dot-mediafire-dot-com/?sharekey=615a9bc3a712ebace7c82ed4b8f0c380e04e75f6e8ebb871"

2. Copy "CloseOrders.ex4" file inside folder of your broker (Something like "C:\Program Files\(Your Broker Name)\experts\scripts") and when you want to use it, simply drag it on the chart.

DO DEMO TESTING BEFORE TRYING IT ON LIVE ACCOUNTS. GOODLUCK!

Re: Offline backtests

Hi ShaKerZ

Not sure what you are trying to ask as this is the default behaviour....all backtesting in MT4 is done offline and the spread is constant as there will be no slippage in backtesting.

Do you mean to say that you want to set your own desired spread for a specific currency?

Re: Institutional vs Retail trading tools

They use companies like "hxxp://www.bostontechnologies.c0m/" to write software to see & manupilate retail traders...

Re: Help me understand forex.

Well your issue is over-leveraging. This is the single most dangerous thing why people fail in trading. Follow these steps

1. Have a strategy (don't buy/sell randomly unless you can justify yourself the reasoning behind taking any trades)

2. Set a target profit and stop loss. As per your stop loss, calculate 1-2% of your account equity and your position sizing should be done accordingly to enter the trade. (Refer to JNANG post for calculating your position size)

3. If you are confused about leveraging/counting $ & pip value/position sizing in FOREX then DON"T TRADE UNLESS YOU UNDERSTAND IT THOROUGHLY

Re: Decompile Dll Files

Hi manganate

I did try dll2lib but it didn't work for me. Were you able to make it work?

Re: MetaTrader 4 Server Config Files Decompile

http://[email protected]/e68b4c05

Use this link to download the *.srv files for multiple brokers. There's also a word document describing how to do it.

Re: now 10K USD account at Dukascopy

Finimej, there's a free converter available with Dukascopy's JForex which will convert MT4 indicators into JForex compatible code. May be you can try that out (I do expect some issues with it).

Your point regarding minimum lot size is well noted. Thanks

Re: News Trading...

I don't think soo news trading is really going to work out for retail investors like us for the following reasons:-

- We don't have direct access to ECN liquidity providers so your spreads will increase drastically making it harder to trade the news

- Most of the time it would happen that the sentiment & forecase of a particular news will develop for 2-3 days and even after a positive news...the currency dips

- Recently the effect of negative data on the US side has been positive for the $US b/c of the interest in buying US Bonds/Treasuries (Safe heaven investment in troubled times). This kind of behavious is right opposite to typical news trading concepts in which bad news = bad currency. Market changing dynamics make it hard to trade the news

I guess Technical Analysis with some idea of the overall market fundamentals is the way to go.

Re: FX Market is Slowing! Forex Trading Volume Shrinks

Well I think as soon as we are done with the recession...the volume will pick up again. In any case even with this slow market..FOREX is still much more liquid than any other financial market.