• MetaTrader 4, GSTrader, GTS, eGlobalFX, IKON Platinum and IKON Core trading platforms
• Variable spread with 2.3 pips average on EUR/USD
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The two presented charts depict the same USD/JPY market situation, processed with the same trading system but on two different platforms — MetaTrader 4 (first picture) and MetaTrader 5 (second picture).

On about August 10 we enter a Short Position by sending a Sell Order @ 97.67 to our MT4 terminal. On about October 9 we realize that it’s a good opportunity to enter a counter-trend Long Position and get some profit from it, without exiting our long-term Short Position. We send a Buy Order @ 88.59 to MT4 and now we have two open Positions of the same size — one Short and one Long. On about October 27 we realize that the counter-trend is over and it’s time to exit our short-term Long Position. We close it (actually, by sending a Sell Order @ 92.23) and get 364 pips of profit from it; at this moment we also have paid 1 full spread to our broker for opening and closing 1 Position. We continue with our Short Position until November 6 and with the current price at 89.86 we have about 781 pips of floating profit on this position. If we close it now, we get a total of 1,145 pips profit for all two closed positions and we’ll have 2 full spreads paid to our Forex broker. As you can see, we were in the market during 3 months, with about 16 days with two positions on the same currency pair but in the opposite direction:

On about August 10 we enter a Short Position by sending a Sell Order @ 97.67 to our MT5 terminal. On about October 9 we realize that it’s a good opportunity to enter a counter-trend Long Position and get some profit from it without exiting our long-term Short Position, but, unfortunately (or fortunately), we can’t hedge in MT5. So, we send a Buy Order @ 88.59 to MT5 platform and it simply closes our Short Position, giving us 908 pips of profit and taking 1 full spread from us. Contrary to the popular belief, we don’t have to open another Position at this point to gain from the bullish counter-trend, because we gain just by exiting the Short Position and avoiding the loss on it. Now we have no market Positions. On about October 27 we realize that the counter-trend is over and it’s time to exit our short-term Long Position, but fortunately enough, we didn’t even open it. So, we reopen our long-term Short Position (by sending a Sell Order @ 92.23). We continue with our Short Position until November 6 and, with the current price at 89.86, we have about 237 pips of floating profit on this position. If we close it now, we get a total of 1,145 pips of profit for all two closed positions and we’ll have 2 full spreads paid to our broker. As you can see, we were in the market during 2 months and then during about 14 days, and we were out of the market for about 16 days:

In both cases we earned the same profit — 1,145 pips and paid the same amount of pips in spread (equal to 2 closed positions). We used the same system and orders to operate the market and we’ve got the same results. In fact, there is one thing different in term of profit/loss with MT5 and MT4 — it’s the amount of the rollover interest, since you reduce the number of days, during which the positions are accountable for such interest, you reduce your losses from the overnight swap charged on your trading account. The given example can be scaled out to any amount of the interconnected positions. Even a grid trading strategy can be compressed into no-hedge FIFO 1-position system of MetaTrader 5. If you are still not convinced, just ask for more examples and I will gladly provide them.
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Read the rest of Forex Technical Analysis for 11/09—11/13 Week (14 words)

Nonfarm payrolls decreased by 190k in October — that’s better than 219k drop in September, but worse than the optimistic median forecast of 175k drop. The unemployment rate jumped up from 9.8% to 10.2%, while only 9.9% rate was priced into the currency market.

Wholesale inventories decreased by 0.9% in September, following a 1.3% drop in August. This indicator was expected to go down by 1%.

Total consumer credit decreased by $14.8 billion in September in the United States. This decline follows $9.9 billion drop in August (revised from $12 billion drop) and is above the average forecast by the market analysts — $10 billion.
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You can get the code of MT5 version or read more info about the indicator.
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• Chart Patterns and Technical Indicators

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Nonfarm business sector productivity of labor rose by 9.5% (annual rate) during the third quarter of 2009, following 6.6% increase during the second quarter. A growth of productivity by 6.5% was anticipated by the economic analysts. The improved productivity is a direct result of a higher unemployment, caused by laying off the least effective works.

Initial jobless claims were reported at 512k for the last week — down from 532k claims during the previous week. A drop to 522k was expected by the currency traders today.
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ADP unemployment rate showed a decrease by 203k job places in October in U.S. This number was much better than the previous month’s decline by 227k (revised positively from 254k drop) and only slightly above the expected -198k change.

ISM services index decreased from 50.9% to 50.6% in October, while the growth to 51.5% was expected by the traders and investors.

Crude oil inventories decreased by 4 million barrels last week and now are near the upper limit of the average range for this time of year. Total motor oil gasoline inventories dropped by 0.3 million barrels during that week.

FOMC released its monetary policy statement today, which was filled with the high level of optimism. They left the interest rate unchanged between 0% and 0.25% (which was expected by the Forex traders), but decreased the purchase of agency dept from $200 billion to $175 billion, which caused a rather sharp spike on EUR/USD:

…the Federal Reserve will purchase a total of $1.25 trillion of agency mortgage-backed securities and about $175 billion of agency debt. The amount of agency debt purchases, while somewhat less than the previously announced maximum of $200 billion, is consistent with the recent path of purchases and reflects the limited availability of agency debt.

Yesterday, a report on September factory orders showed a growth by 0.9%, which compares to 0.8% decline in August and is slightly above the median forecast by the market analysts, which stood at 0.8% gain.
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• Gold and silver trading
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