Forex Trading Tax Implications (Australia): Free MT4 Script

Do you need to pay taxes on your forex trading earnings? If you reside in Australia you do. With the free MetaTrader 4 script included in this post you will have your forex income calculated in no time.

Create Your Own Chart Watermark - Free MetaTrader 4 Code

If you’re using screenshots to take photos of your trading system’s trades as they happen and would like to insert a watermark on your charts, then this free code can help.

Cannot Open File Ex4 in MetaTrader 4 (Illustrated Example)

If you come across the cannot open file .ex4 error in MetaTrader 4 the fix is as simple as compiling your code. However, if you’re still stuck you might want to check if your code contains any errors.

Save MetaTrader Screenshots Directly to S3 from Your Windows VPS

If you use Dropbox to sync your forex screenshots for later viewing you might want to use a more lightweight outfit for the task. Dropbox can bloat your Windows VPS and can also cause unintended consequences if you create more folders. Why not try a better, cheaper alternative with S3.

How to Set a Trade's Expiration Less Than 10 Minutes

If you’ve created a robot forex trading system, and you set an expiration date on your order then you might be surprised to note that if your expiration is less than 10 minutes it gets set to 10 minutes - or you get error code 3 (or ERR_INVALID_TRADE_PARAMETERS), which means the parameters you’re sending through the OrderSend or OrderModify methods are not correct. Why would you set an expiry date on an order?

How to Calculate Number of Lots per Trade (Position Sizing)

How many lots do you need to enter if you only wanted to lose a fixed amount? There are several numbers you wanted to calculate a dynamic lot amount for each trade, these are: Entry Price Stop Loss Price Amount to Risk Value per pip (or point, tick) in account currency Profit/Loss Formula To calculate how much profit (or loss) we have made in our trade we would apply the following formula:

How to Monitor Your Trades Using Screenshots & Dropbox On Your VPN

When you start a new robot forex trading system you want to keep an eye on how it performs with all the metrics like drawdown, profit, Sharpe ratios etc etc. But the best way I find to monitor a new forex system is to simply keep an eye on it, without being glued to the screen. The way I accomplish this is by starting with the following question: What do I want to see?

Why Do Forex Traders Lose Money?

Why do forex traders lose money? Many will blame the high leverage available to trades, but this is only a symptom to the main root underlying cause being unable to…

Can You Trade Forex With $100?

Simple answer is: Of course! BUT, there are five numbers you’d want to crunch to determine whether $100 will be enough to keep trading in your forex account. What are these five numbers? Your forex broker’s minimum account opening requirement (I’m assuming you don’t yet have a forex broker account) Your account’s leverage. The maximum number of open positions you will likely hold at any one time. Your average trade size.

Do Candlestick Patterns Actually Work in Forex?

We explore one popular pattern in forex trading called the pin bar and look at a few examples with charts.