When starting out with automation in the forex market it’s important to know how to interface with your forex broker and what software you will need on your computer to interface with it. Start by exploring the options around to see what best suits your needs.
If you’re starting out in forex trading you may want to try, and acquire another skill. Forex trading is extremely difficult and hardly anybody starting makes any money. By acquiring another skill the time and money will not all be lost.
What do you do when you’ve lost in forex trading? Do you give up and walk away? Or do you try to refine your system and try again? Here’s a story I had with another fellow trader who went through the same experience.
What are forex options? Are they real options, like stock and futures options? Will we see these new volumes registered on the CBOE?
What is the core philosophy behind your forex trading development? Are you creating a system that tries to capture every up and down move regardless of market volatility?
How can you effectively trade multiple pairs in opposing directions and still profit? If two currency pairs have a high correlation can you enter long in one pair and short in the other and still come out profitable?
Do candlestick patterns work in forex trading? If you’ve come from other trading markets such as stocks and futures you’d be hard-pressed to find any gap features most prevalent in candlestick patterns.
Here are five important questions you need to ponder on before you embark on your forex trading journey: 1. What data type are you using (or going to use)? I know this sounds strange, especially if you have experience from another market such as stocks as their generally is only one type of data source… Continue reading 5 Important Questions When Back Testing Forex Systems
What do the metric values of your system’s results mean? Especially the values of MAE, MFE and Drawdown. In this article we explore what they mean and what values should have you concerned.