Forum on trading, automated trading systems and testing trading strategies
Sergey Golubev, 2014.02.20 20:12
How Social Media Affects The Forex Market (based on dailyforex article)
The Forex market, as you probably know by now, is the biggest
market in the world. Yet, somehow, the average citizen, who is quite
familiar with the Stock Market, has never heard of the Forex market.
When you tell them Forex means the same as foreign exchange, you
generally get a response similar to “Ohhh” followed by a “And what is
With the size of the Forex market, and its potential for profit, you
would expect it to be a much more popular and familiar market to the
masses. A possible explanation of this phenomenon can be the fact that
it was originally inaccessible to the average person, and only in the
last decade has the Forex retail market taken off.
Having said that, the Forex market has managed to gain more exposure
over the last year or two, especially on the global Web. This can be
attributed mainly to social media and the presence of Forex brokers and
traders on the various social networks.
It is true that the amount of Forex content on the Web continues to
grow, but the way in which the primary Forex players make use of social
media leaves much room for improvement. The three main social networks
used in the Web community are of course Facebook, Twitter, and LinkedIn.
While LinkedIn and Twitter have an infrastructure in place enabling
people to connect with others in their field, Facebook is intended more
for people to connect with friends and relatives.
Before we discuss how Forex and Facebook merge, let’s take a quick look
at the statistics of the largest social network on the Web. Facebook now
has over 250 million users worldwide. As for content, over 1 billion
new content pieces are uploaded weekly. Wouldn’t you say such numbers
would yell to Forex traders all over the world to use this platform and
connect with other traders?
On the other hand, Facebook was always intended not as a corporate
platform but rather a place to connect on a more personal basis, so it
is not as ideal as some of the other sites out there. Some of the Forex
tools you might come across on Facebook include Forex groups, Forex
pages, Forex traders, and Forex signals. I for one have not been exposed
to any Facebook spam on the Forex topic, something I wish I could say
about the Forex presence on Twitter.
As of today, Facebook is mainly used by Forex players to spread content,
accumulate fans of pages, and share signals. With the advanced API and
the ability to develop Facebook applications, the Facebook potential for
the Forex world is much greater than what is being utilized today.
If you have been paying attention, or even if you have not, you have
most probably heard the word Twitter in one context or another. It is
the buzz word of the tech industry and the global Web. Everyone is
talking about how Twitter is the ultimate tool when it comes to
exposure, networking, and communication, yet somehow, the Forex players
cannot get it right.
It is true that there are endless Twitter accounts that offer Forex
content. However, generally speaking, Forex has become a word with very
negative associations on Twitter, due to the tremendous number of Forex
spammers on Twitter.
The content being shared by most Twitter accounts is promotional. They
are trying to sell Forex software or robots, and from the short research
I have done, are not seeing results. Twitter is about communicating,
two way dialog, not selling something and not spamming other users.
The potential in Twitter and its use in the Forex world is literally
endless. Brokers can use it to offer special bonuses to their followers,
while listening and communicating with their customers as part of their
customer service efforts. Online Forex portals can share their insights
in the form of news, analysis, articles, or reviews of Forex products
with their followers, and pay attention to their users and how they
suggest improving the service.
Traders can use Twitter to communicate with other traders, and make use
of others’ experience and expertise in one aspect of Forex trading or
another. The platform to connect to others like you is available; people
just need to learn how to use it.
If Facebook is for personal use, LinkedIn targets the corporate world.
LinkedIn, with its 17 million visits per day, is the perfect place to
expand your Forex reach, and so far, out of the three social networks,
it is the only one that comes close, and is on the right path.
All the major experts in the Forex world run and maintain active
profiles on LinkedIn, in which they share their insights and tips for
other traders to see. Many big names in the Forex brokers’ arena have a
serious presence on LinkedIn. Most of them have a group, in which they
share all the details of their offering, content, as well as the latest
developments in the market in general, and their company specifically.
However, the most important contribution of LinkedIn to the Forex world
are the tens of Forex groups, which offer a perfect and spam-free
(almost) environment for traders, brokers, and Forex companies to
connect and communicate with one another.
In conclusion, social media has become one of, if not the biggest trend
on the Web since its invention, and with the potential for profit in the
Forex market, there is no reason these two superpowers should not join
forces. The Forex world as a whole seems to have taken notice to the
world of social media; you can find a Forex presence on any one of the
social networks. However, as of now, the potential presented by social
media, the one everyone is talking about, is not being utilized by the
Forex world, not even close!
Good thread was started in Russian part of the forum about a year ago: How to sell your products, services and signals
(in Russian language). This thread is about to share the experiance
concerning how to sell/promote your signals/market products/freelance
services in internet and everywhere (I mean: this is HowTo thread).
Just use forum translation tool which exist above every post:
We need same thread in our english part of the forum ... just hope someone will start (and I will post there as well in this case).
Sergey you are my Favourite :)
Is it an intern tool or done by google?
Announce of the launch : MQL5 Cloud Network launched.
Some useful topic about usage of the Cloud :
Error message : endless loop detected in OnInit function
As Providers (agents)
How to subscribe to the Signals - step-by-step instruction (thanks to Eleni Anna Branou ):
I cannot succesfully subscribe to [name of the signal was deleted] copytrade
Eleni Anna Branou, 2017.01.10 15:10
Try to follow the instructions below, its easier to subscribe to a signal through your MT4 plaftorm:
1. Register a MQL5 account: https://www.mql5.com/en/auth_register
2. Open your MT4 platform and go to Menu >> Tools >> Optios and click on the Community tab. There you put your Login and Password of your MQL5 account and click OK.
3. Go to the search area of your MT4 platform, on the upper right corner (where the magnifying glass is), type in the name of the signal you want to subscribe and click Enter.
4. You will see lower, in the Terminal Window of your MT4 platform, the results of your search. Click on the name of the signal you want to subscribe.
5. Click on the green Subscribe for $$ USD button on the right side of your MT4's Terminal Window.
6. Select the paymet method and complete payment for your subscription.
7. In the Optons >> Signals window that opens, tick the following options:
8. In the Use no more than: ...... of your deposit (95% maximum) field below, put the percentage of your capital, you want to participate in signal's copying.
9. In the Stop if equity is less than: ...... field, put the amount of your capital, you want to preserve, or leave it empty.
10. In the Deviation/Slippage field, select an option and click OK in the Options window to close it.
11. Now you have completed the subscription process and the only thing you need is a VPS (Virtual Hosting) in order to copy the signal 24/7 without having your MT4 platform open all day long.
12. Go to your account details in the Navigator window of your MT4 platform, right click in your account number or name and select the option Register a Virtual Server.
13. In the Virtual Hosting window that opens, click Next, then Next again, select the VPS with the lower Ping, ms value (right side of window) and click Next.
14. Select your payment plan for 1, 3, 6 or 12 months, tick the: I agree to the virtual hosting service rules and the auto renewal option below (if you want) and click Next.
15. Complete your payment for the VPS Service and you are done.
LIFEHACK FOR TRADER: FOUR BACKTESTS ARE BETTER THAN ONE
Before the first single test, every trader faces the same question — "Which of the four modes to use?" Each of the provided modes has its advantages and features, so we will do it the easy way — run all four modes at once with a single button! The article shows how to use the Win API and a little magic to see all four testing chart at the same time.
MQL5 vs QLUA - Why trading operations in MQL5 are up to 28 times faster?
Have you ever wondered how quickly your order is delivered to the
exchange, how fast it is executed, and how much time your terminal needs
in order to receive the operation result?
How to migrate a signal subscription from one VPS to a new VPS? - step-by-step instruction (thanks to Eleni Anna Branou ):
How to migrate a signal subscription from one VPS to a new VPS?
Eleni Anna Branou, 2017.01.13 18:36
You have to cancel the old VPS service and then register a new VPS and migrate your signal subscription to that.
1. Go to your account details in the Navigator window of your MT4 platform, right click in your account number or name and select the option Register a Virtual Server.
2. In the Virtual Hosting window that opens, click Next, then Next again, select the VPS with the lower Ping, ms value (right side of window) and click Next.
3. Select your payment plan for 1, 3, 6 or 12 months, tick the: I agree to the virtual hosting service rules and the auto renewal option below (if you want) and click Next.
4. Complete your payment for the VPS Service and you are done.