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.

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.

How to Determine Strong & Weak Currencies (Code Examples)

How can you work out what is the strongest or weakest currency? Determining this can help you when seeking to go long or short. Here’s some MetaTrader 4 code to help get you started.

How to Limit Currency Risk in Forex Trading (MQL4 Functions)

One way you can easily wipe-out an account is by not managing your currency risk effectively. Take the following example, where we have the following open positions: Long GBPUSD Short EURGBP Long GBPAUD Long GBPNZD Would you be comfortable if all these open positions were currently losing money and your robot trading system wanted to open a long GBPJPY position? The Problem The problem with our example portfolio is that we are all long the Pound currency.

5 Ways to Make Your MT4 Faster

How can you make your MetaTrader 4 software run faster? If you want to reduce the resources MetaTrader consumes on your computer then here are 5 easy things you can do without touching your Expert Advisor.