How to Start with Metatrader 5 - page 59

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Forum on trading, automated trading systems and testing trading strategies

Press review

Sergey Golubev, 2016.03.10 06:24

How to build a forex trading strategy that works (the article)


  • "Are you new in forex? Or have you been trading for a while?
  • No matter how long you have been trading, these resources on how to build a consistent and profitable trading strategy will be worthy.
  • The most important advice is that the key is comfort. No matter what strategy you use, you have to be comfortable with the system you chose. It has to fit your personality or style in order to last and be efficient. Also, having a personalized strategy will prevent a collapse that could bring more losses than profits."



 

Forum on trading, automated trading systems and testing trading strategies

How to Start with Metatrader 5

Sergey Golubev, 2015.06.17 15:42

Just good new article: Identifying Trade Setups by Support, Resistance and Price Action

Table of Contents


Introduction

This article covers a trading methodology that can be used in any Forex, stock, or commodity market, as well as MQL4 code examples that can be used in an Expert Advisor based on this methodology.

Price action and the determination of support and resistance levels are the key components of the system. Market entry is entirely based on those two components. Reference price levels will be explained along with effective ways of choosing them. The MQL4 examples include parameters for minimizing risk. This is done by keeping market exit references and stops relatively close to the entry prices.

There is an additional benefit of allowing higher volume trades, regardless of account size. Lastly, options for determining profit targets are discussed, accompanied by MQL4 code that enables profitable market exit during a variety of conditions.


 

Forum on trading, automated trading systems and testing trading strategies

Something Interesting

Sergey Golubev, 2016.03.21 06:58

Some more:

Reading RSS News Feeds by Means of MQL4


This article deals with an example of reading RSS markup by means of MQL4 using the functions from the article HTML Walkthrough Using MQL4. It is assumed that the reader has read the article or at least has the general understanding of the ideas described there.


 

This is very good news:

MetaTrader 5 features hedging position accounting system


"The MetaTrader 5 platform was originally designed for trading within the netting position accounting system. The netting system allows having only one position per financial instrument meaning that all further operations at that instrument lead only to closing, reversal or changing the volume of the already existing position. In order to expand possibilities of retail Forex traders, we have added the second accounting system — hedging. Now, it is possible to have multiple positions per symbol, including oppositely directed ones. This paves the way to implementing trading strategies based on the so-called "locking" — if the price moves against a trader, they can open a position in the opposite direction.

Since the new system is similar to the one used in MetaTrader 4, it will be familiar to traders. At the same time, traders will be able to enjoy all the advantages of the fifth platform version — filling orders using multiple deals (including partial fills), multicurrency and multithreaded tester with support for MQL5 Cloud Network, and much more.

Now, you can use one account to trade the markets that adhere to the netting system and allow having only one position per instrument, and use another account in the same platform to trade Forex and apply hedging.

This article describes the netting and hedging systems in details, as well as sheds light on the changes related to the implementation of the second accounting system."
 

How to Subscribe to Trading Signals


"The Signals service allows users to connect to any signal and automatically copy trades of professional traders. Thousands of signals for MetaTrader 4 and MetaTrader 5 are available in the service. Read the article to learn how easy it is to subscribe, and how to choose the best option among the variety of available signals."

 

Using Skype to Send Messages from an Expert Advisor


"Skype is a telecommunications program that, along with normal chats, allows people to phone via Internet. One of the most important advantages of Skype as compared to other programs of the kind is a gateway to real mobile network operators. Respectively, one can call a real mobile phone, send SMSes, and so on. There is also a Skype version for mobile phones. One can save money on SMSes since sending regular messages within the program is absolutely free. Basically, a mobile phone must work under an operating system. Well, it is possible now to be fully mobile if necessary. And it is this opportunity that many people use nowadays."

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