Keep it Simple Forex

Not being idle

2010-05-25T15:08:00.006+01:00

Whilst I await response to my emails.

Decided to help myself by watching the "Alpari MetaTrader 4 Tutorials".

MT 4 Tips

MetaTrader 4 is an extremely robust and efficient way to manage your investing. This video will demonstrate some of the platform features and will help you understand how you can start to customize the platform for your own trading. I will cover the following topics in the video.

1. Exchange rates are quoted to the 5th decimal for most forex pairs and to the third decimal place on JPY quoted pairs. This allows Alpari to offer tight spreads and to increase pricing transparency. The market watch window, account reports, order entry screens and charts will all display quote information this way.

2. The charts in MetaTrader 4 will auto scroll by default to show the most recent price action. However, when you are doing specialized analysis, you may want to turn this feature on and off. In the video I will show you how to adjust this feature.

3. The bid price is shown on the charts but depending on the pair and your trading style you may want to be able to see the ask price as well. In the video I will show you how to add the ask price to any forex pair's chart.

4. Alpari offers a wide selection of pairs to trade. Depending on your trading style and interests you may want to expand or restrict the list of symbols displayed in the MetaTrader 4 application. In this video I will demonstrate how to expand or shrink the list of forex pairs listed in the platform.

Trade Window

Entering a trade is the most critical function a forex investor can perform on the MetaTrader 4 platform. This video presentation will provide all the background you need to make sure you understand how the trade tab works and some tips for making the most efficient use of the platform. I will cover the following topcis.

1. How to adjust your trade size from micro to full 100K lots.
2. Monitoring your pending orders and advanced order entry functionality including trailing stops, stop losses and take profit levels.
3. What the "maximum deviation" function is and how to use it during extreme market volatility.

Platform Management

Monitoring your account over the long term is a critical way to understand what you are doing well as a trader and what you may need to work on. The account reporting tools in MetaTrader 4 are easy to access and to use. This presentation will answer some of the most important questions users have about the account management and reporting tools including the following topics.

1. Using the trade reports and account history tabs and customizing the information to suit your own personal style.
2. Changing system passwords for your security and convenience.
3. How to make your work more efficent by creating and using chart templates and platform profiles.

Indicators and EAs

Two of the most exciting features on the MetaTrader 4 application, especially for advanced users, is the ability to create and install custom indicators and expert advisors. This presentation will cover some of the basics for installing an indicator or expert advisor and how to make sure they are applied correctly. I will cover the following topics in the video.

1. Downloading and installing a custom indicator.
2. Downloading and installing an expert advisor.
3. How to tell if your expert advisor or custom indicator is attached to the chart correctly and activated.

First Job Today

2010-05-19T16:42:00.009+01:00

MetaTrader Shortcut List on a "Post It"

F1 Help
F2 History Center (centre)
F3 Global Variables
F4 Meta Quotes Language Editor
F5 DUNNO YET
F6 Strategy Tester
F7 EA Properties
F8 Properties
F9 New Order
F10 DUNNO YET
F11 Full Screen
F12 Step by Step

CTRL + D Data Window
CTRL + G Remove Grid
CTRL = I Indicator
CTRL + M Market Watch
CTRL + N Navigator
CTRL + R Strategy Tester
CTRL + T Terminal

Don't like writing in American English – Makes me forget my native tongue – English - Needs must !

Most strange – my Optimization Graph differs from the picture – I wonder why ?

You Plonker Rodney – you've only gone and changed Range_Hours instead of Range_Start

Not covered in the manual What do you do with it - Do you save it - If so so where ?

tester file came up as default - I decided rightly or wrongly to play safe and create a My Tests Folder with my own file name. IT WOULDN'T SAVE - eeny meeny miny moe - IT WON'T SAVE ANYWHERE - cancel - SHoneT !!!

Do I click the Run button ? More SHoneTE . . . . . . . . . . it's not exactly user friendly - this manual.

Close my eyes - press OK - wait for the bang ! - optimize (optimise) again - whilst I write here.

I just don't believe it ! That's it I'm going for a cup of tea.

For some unknown reason . . . The Breakout_EA won't stay put . . . whilst I am trying to change the second - the first changes ! - HIT THE RESET BUTTON - Still No Good !

Looks like an email to support.

Sent; Chapter 1V.1 - set the parameters - where do I save ? - do I load ? Thu, May 20, 2010 12:09:43 AM

Received; the process of modifying the parameters is explained in detail in; Chapter II: How to customize your DailyEA Thu, May 20, 2010 8:20:31 PM

Reply; With respect there is No Mention of the SAVE & LOAD BUTTONS anywhere. Thu, May 20, 2010 11:51:46 PM

Received; thank you, we will save the set of parameters and make it easy to download with the next update. Fri, May 21, 2010 4:10:40 PM

Reply; English is not your native tongue - is it ? Fri, May 21, 2010 5:25:22 PM

Backtesting

2010-05-18T01:29:00.000+01:00

Just a matter of checking everything is as should be. HOWEVER . . . The model DID need changing to . . . Open Prices Only.

THE REPORT

    * Initial Deposit - 10,000.00 -   1,000.00 -    500.00 -    100,000.00
    * Gross Profit - 118,542.20 - 11,854.22 - 5,927.11 - 1,185,422.00
    * Gross Loss      - 77,559.00 - 7,755.90 - 3,877.95 -    775,590.00
    * Nett Profit       - 40,983.20 - 4,098.32 - 2,049.16 -    409,832.00

At first glance looks pretty good - Looking closer at the period - 1st January 2009 > 1st May 2010 = 17 months . . Ughh

Decided to run it for a year - 1st May 2009 > 1st May 2010 = 12 months

    * Initial Deposit - 10,000.00 - 1,000.00 -    500.00 -   100,000.00
    * Gross Profit -    80,319.90 - 8,031.99 - 4,016.00 -   803,199.00
    * Gross Loss -     51,736.50 - 5,173.65 - 2,586.83 - 517,365. 00
    * Nett Profit -      28,583.40 - 2,858.34 - 1,429.17 -   285,834.00

Move the decimal point the other way WOW !

As I already knew - The more Money you have - The easier it is to make Money !

OK . . . Not a very good wage for a years work, if you only started with 500.00 Not even that good if you started with 10K !

HOWEVER . . . Do the sums . . . 38583.4 / 10000 x 100 = 385.8 % R.O.I . . . Which is the same regardless of your investment !

THAT'S MORE LIKE IT.

AND . . Only spent 260 minutes working (52 x 5 x 1) out of 525,600 (365 x 24 x 60) That's a lot of FREE time to enjoy. Next year will be starting with 1400 - 28,500 and the year after . . . . . ?

You would NEVER want to spend any - knowing what you are loosing. Easy to see why the rich are so tight with their money.

THE SOLUTION - The Holy Grail System That Can Take You From 0 to 1 Million Very Quickly

To start at the beginning - Chapter One - The Good News and the Good News - Recommended

MY CONCLUSION . . . What ever amount of money (equity) you have got . . . It should be working for you AND not tied up in a property or fancy car. I wish they had taught me this at school. They won't - cos!

Customise Daily EA

2010-05-17T01:22:00.000+01:00

Hmmm . . . This is where I jumped the gun and tried to run before I could walk ! Basically this chapter is introducing the mechanics behind the system. Walking (not running) through and checking the various settings. Leave well alone . . . my motto . . . until I am wiser. However (11.5) I did follow the suggestion and set the trailing stop to TRUE. Time will tell ?