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March 30, 2013

Coding MetaTrader Systems – Episode 2

Filed under: Forex General — Tags: , , , — admin @ 5:37 pm

In the second part (first episode here) of this mini-series on coding your own MetaTrader system we detail the following aspects:

  • The importance of writing comments when designing your MetaTrader system – it’s certainly something that isn’t obvious when you are programming away and the benefits are only seen in the future!
  • Similar to the first point, but still just as important: the need to create a TODO list in your code – a plan of attack on how you are going to code your system.
  • Coding entry orders.
  • Coding a simple position lot size function.

All of that is revealed in this 20 minute coding MetaTrader 4 episode:

March 29, 2013

Daily Forex Fundamentals – March 28, 2013

Filed under: Currency Charts — Tags: , , , , — admin @ 1:27 am

What’s on the Economic Horizon

Cypriot Banks Re-Open Today
Canadian GDP Figures on tap

U.S. Dollar (USD)

Aaah, there’s nothing like a dash of risk aversion to get the dollar dashing through the charts! As concerns about a potential bank run in Europe mount, demand for safe haven assets such as the dollar also picked up. Save for the yen, the currency finished with wins against all its other major counterparts. Read more…

Euro (EUR)

Look out below! The euro dropped like a rock in yesterday’s trading as bad news from the euro zone hit headlines. EUR/USD tapped its 4-month low at 1.2754 before finishing the day with an 85-pip loss. Meanwhile, EUR/JPY closed 96 pips lower at 120.59. Read more…

British Pound (GBP)

Uh oh! It looks like the pound’s good luck is quickly running out! GBP/USD extended its losses to a third day in a row. GBP/USD dropped to an intraday low of 1.5094 before finishing the day 31 pips lower at 1.5129. Read more…

Japanese Yen (JPY)

When risk aversion is in play, you can almost always be sure that the yen would get a lot of lovin’! As concerns about Cyprus heightened, demand for the Asian currency also picked up. Consequently, the yen finished higher against all of its major counterparts. Read more…

Canadian Dollar (CAD)

Doji alert! The Loonie just couldn’t get its game on against the dollar despite positive Canadian data. USD/CAD got rejected at support around 1.0165 all throughout the day. By the end of the New York session, the pair settled at 1.0164, unchanged from its opening price. Read more…

Australian Dollar (AUD)

Alas! The winning streak ends at five. Yesterday, the Aussie scored its first loss to the dollar since last week. AUD/USD finished the day lower at 1.0447 after opening at 1.0486. Read more…

New Zealand Dollar (NZD)

It was just not the Kiwi’s day. With risk aversion haunting markets, the comdoll was unable to take another shot at testing the .8400 handle. NZD/USD only got as high as .8397 before hitting a bottom at .8343 then closing with a 13-pip loss at .8374. Read more…

Swiss Franc (CHF)

Without any economic data from Switzerland, the franc was easily bullied by the dollar yesterday. USD/CHF broke out of its range and even traded past resistance at .9500. By the end of the New York session, the pair was up at .9541 with the franc sustaining a 57-pip loss. Read more…

Bonnie and Clyde, peanut butter and jelly, Justin Bieber and his hair. Some things just go well together.

In forex trading, you get better odds at securing pips when your fundamental analysis is complemented by technical analysis.

Head on to Big Pippin’s Daily Chart Art for some pip-locking technical setups!

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March 28, 2013

Daily Forex Fundamentals – March 27, 2013

Filed under: Currency Charts — Tags: , , , , — admin @ 1:27 am

What’s on the Economic Horizon

Euro zone Italian Bond Auction to Dictate Today’s Price Action?
Canadian Inflation Figures on Deck

U.S. Dollar (USD)

Yesterday, the U.S. dollar replicated its performance from the day before as it traded in a mixed manner in the foreign exchange market. The Greenback managed to range versus the euro, but gained slightly against the pound and the yen. Read more…

Euro (EUR)

Phew! With no economic data out from the euro region yesterday, the euro bears took the chance to catch a breather. EUR/USD inched by 6 pips while EUR/JPY climbed by 54 pips. Will the euro bears go back to business today? Read more…

British Pound (GBP)

Yikes! Make that two losses in a row! The pound extended its losses to the dollar yesterday no thanks to worse than expected U.K. data. By the end of the New York session, GBP/USD was down 21 pips from its opening price at 1.5160. Read more…

Japanese Yen (JPY)

The Japanese yen suffered a bitter defeat in yesterday’s trading session as it mostly lost against the other majors. USD/JPY, for instance, climbed to 94.51 after it had opened the Asian trading session at 94.13. Meanwhile, EUR/JPY rose to 121.53 from 120.99. Read more…

Canadian Dollar (CAD)

Score another one for the comdolls! For the fifth day in a row, the Loonie clobbered the Greenback like it was The Hulk. USD/CAD fell by 64 pips this time as it closed at the 1.0165 area. What the heck boosted the Loonie anyway? Read more…

Australian Dollar (AUD)

The Australian dollar managed to clock in another victorious session yesterday. It gained for the fifth consecutive day versus the safe haven U.S. dollar, rising to 1.0486 from 1.0464. Read more…

New Zealand Dollar (NZD)

The Kiwi still looked so darn fine to the bulls in yesterday’s trading. NZD/USD tapped its one-month high at .8394 following New Zealand’s better-than-expected trade numbers. The pair then finished the day at .8387, 31 pips above its opening price. Read more…

Swiss Franc (CHF)

What a snoozer! Without any economic data on tap from Switzerland and major updates from the euro zone, the Swiss franc traded within a pretty tight range of just over 30 pips against the dollar. USD/CHF spent most of the day hovering below .9500 before closing the day at .9484. Read more…

Bonnie and Clyde, peanut butter and jelly, Justin Bieber and his hair. Some things just go well together.

In forex trading, you get better odds at securing pips when your fundamental analysis is complemented by technical analysis.

Head on to Big Pippin’s Daily Chart Art for some pip-locking technical setups!

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March 27, 2013

Eurogroup English Dictionary (EED)

Filed under: Forex Strategies — Tags: , , — admin @ 4:47 pm

Trying to decode what the Eurogroup is saying into English is getting harder as policy becomes less distinct. However we have uncovered a small segment of the equivilent of the Rosetta stone. Plain English on the left and Eurogroup English on the right. We hope this helps.

    Irish    (adj) – Not Greek

    Portuguese    (adj) – Not Irish

    Spanish    (adj) – Not Portuguese

    Italian    (adj) – Not Cypriot

    Cypriot    (adj) – Unique

    Ubiquitous    (adj) – Unique

    Systemic    (adj) – Unique

    Endemic    (adj) – Unique

    Theft    (n) – 1) Tax 2) contribution 3) Fair share.

    Deposit    (n) – Bank share holding.

    Depositor    (n) – Money Launderer

    Uninsured Deposit Loss    (n) – Insured Deposit Protection

    Capital Control    (n) – Cautionary measures.

    Economic Collapse    (n) – Difficult times.

    Discord    (n) – Unity

    Compromise    (n) – Strong Agreement

    Retard    (n) – Dutch Finance Minister

    Own Goal    (n) – Mr Dijesselbloem’s statement

    Vague Idea    (n) – A Commitment.

    Hope    (n) – Commitment to the commitment

    Inappropriate    (adj) – Template

    Unsuitable    (adj) – Template

    Master Plan    (n) – Template

    Template    (n) – Not a template

    Dead Cat Bounce    (n) – Encouraging signs

    Dysfunctional Family    (n) – Europe

    German Foreign Policy     (n) – European rescue program.

    Economic Repression    (n) – Prudent policy.

    Vengeance    (n) – Necessary adjustments.

    Free Market    (n) – Moral hazard

    Haphazard Moral Hazard    (n) – Flexible policy.

    U-turn    (v) – Clarification of earlier statements.

    Implicit Guarantee     (n) – Will do what is necessary

    Panic    (v) – Urgently striving to do what is necessary

    Failed to do what was necessary    (n) – Rapidly changing environment.

    Pommel Horse    (n) – Cyprus Parliament

    Whipping Boys    (n) – Cypriot Government

    Outrageous Assumption    (n) – Realistic target

    Last Hope    (n) – Mr Draghi

    Fourth Reich    (n) – The Eurogroup

Daily Forex Fundamentals – March 26, 2013

Filed under: Currency Charts — Tags: , , , , — admin @ 1:27 am

What’s on the Economic Horizon

U.S. Durable Goods on Tap
Cyprus Deal Not Enough to Boost Sentiment
Repatriation Flows Spur Yen

U.S. Dollar (USD)

Mixed day for the scrilla, as it sliced and diced its way against the euro but failed to gain any momentum against the comdolls. With some hot reports headed our way during the New York session, what could be in store for the dollar today? Read more…

Euro (EUR)

Talk about crash and burn! The euro got heavily sold off during the latter part of yesterday’s trading. EUR/USD dropped like a rock from its intraday high of 1.3050 to 1.2830 before closing with a 96-pip loss at 1.2853. Meanwhile, EUR/JPY suffered a 133-pip loss for the day. Read more…

British Pound (GBP)

Cable’s rally lost a lot of steam yesterday, as optimism regarding latest deal in Cyprus was considered as a dangerous precedent for the euro zone by market participants. From its day open price at 1.5227, Cable had plunged as low as 1.5143, before it closed the U.S. trading session at 1.5181. Read more…

Japanese Yen (JPY)

What a start for the yen! The yen blew out the competition, as it posted gains across the board. What caused the yen’s rally yesterday?! Read more…

Canadian Dollar (CAD)

Risk aversion? Baby, please! It got nothing on the Loonie. Well, at least not in yesterday’s trading. The comdoll finished the day with another win as USD/CAD closed 22 pips below its opening price at 1.0213. Read more…

Australian Dollar (AUD)

It was a good start to the week for the Aussie, as it slowly crawled up the chats. AUD/USD opened at 1.0439 and ended the day at 1.0463, marking a 24-pip gain on the day. Read more…

New Zealand Dollar (NZD)

Due to the absence of market-moving events in New Zealand, the Kiwi mainly moved sideways veruss the Greenback yesterday. The pair traded within a horizontal channel the entire day versus the Greenback, finding support at .8337 and resistance at .8372. Read more…

Swiss Franc (CHF)

After a spectacular performance last Friday, the Swiss franc turned sour yesterday and gave up all of its gains. USD/CHF closed the day at .9486, 56 pips higher from its Asian session opening price. Read more…

Bonnie and Clyde, peanut butter and jelly, Justin Bieber and his hair. Some things just go well together.

In forex trading, you get better odds at securing pips when your fundamental analysis is complemented by technical analysis.

Head on to Big Pippin’s Daily Chart Art for some pip-locking technical setups!

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March 26, 2013

Daily Forex Fundamentals – March 25, 2013

Filed under: Currency Charts — Tags: , , , , — admin @ 1:28 am

What’s on the Economic Horizon?

Positive News from Cyprus Boost the Euro
U.K. BBA Mortgage Approvals on Deck

U.S. Dollar (USD)

The financial turmoil in Cyprus might have been the focus last Friday, but that did not stop the European currencies from pummeling the safe haven Greenback to the ground. The U.S. dollar, in a surprising turn of events, lost against almost all the European currencies, including the euro, the pound, and franc. Read more…

Euro (EUR)

Talk about resilience! Despite all the hoopla surrounding the Cyprus deal, EUR/USD stayed afloat last Friday, as it managed to edge its way back up to the 1.3000 mark. What’s happening over in Cyprus now anyway? Read more…

British Pound (GBP)

The pound was higher than a kite in Friday’s trading. For the first time in a month, GBP/USD closed above 1.5200. The pair was up 67 pips by the New York session close. Swoosh! Read more…

Japanese Yen (JPY)

While other major currencies exhibited extreme highs and lows, the Japanese yen simply moved sideways last Friday. USD/JPY, for example, started the day at 1.0436 and ended the U.S. trading session barely changed at 1.0446. Read more…

Canadian Dollar (CAD)

With no hard data coming out, USD/CAD traders seemed to just doze off to finish the week. USD/CAD stuck within a range of just over 40 pips, eventually ending the day at 1.0232. Read more…

Australian Dollar (AUD)

The Australian dollar managed to emerge victorious last Friday, thanks to the positive news that came out of the euro zone. Apparently, the Cyprus government has finally approved three new measures to secure a bailout, which helped support risk appetite. AUD/USD ended the U.S. trading session at 1.0445, slightly higher than its lowest level that day at 1.0421. Read more…

New Zealand Dollar (NZD)

Whoever said the Kiwi couldn’t fly was dead wrong! Well, at least in Friday’s trading. The comdoll extended its rally above .8300, closing with a 45-pip gain at .8357. Read more…

Swiss Franc (CHF)

The Swiss franc dominated in Friday’s trading like the Terminator. Resistance around .9475 held on USD/CHF and during the London session, the pair dropped like a rock to .9400. It then closed at .9407 with the franc scoring a 63-pip gain. Read more…

Bonnie and Clyde, peanut butter and jelly, Justin Bieber and his hair. Some things just go well together.

In forex trading, you get better odds at securing pips when your fundamental analysis is complemented by technical analysis.

Head on to Big Pippin’s Daily Chart Art for some pip-locking technical setups!

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March 25, 2013

The Eurogroup Statement on Cyprus Translated.

Filed under: Forex Strategies — Tags: , , , — admin @ 4:43 pm

Team Macro Man offer their translation of the Eurogroup Statement on Cyprus. The original is in itallics.

The Eurogroup has reached an agreement with the Cypriot authorities on the key elements necessary for a future macroeconomic adjustment programme. This agreement is supported by all euro area Member States as well as the three institutions. The Eurogroup fully supports the Cypriot people in these difficult circumstances.

We the 4th Reich Eurogroup  have finally pulled a moth eaten 3 legged rabbit out of the hat. The Eurogroup agrees with itself even if Cyprus is not at all happy with it. We fully support the Cypriot people through the dificult circumstances we have foisted on them (but not that much because it was their fault).

The programme will address the exceptional challenges that Cyprus is facing and restore the viability of the financial sector, with the view of restoring sustainable growth and sound public finances over the coming years.

We will restore the financial sector from being a multibillion Euro earner for Cyprus into a neutered annex of the Bundeathstar (sorry Bundesbank) over the coming years (coming years = 0 to infinity).

The Eurogroup welcomes the plans for restructuring the financial sector as specified in the annex. These measures will form the basis for restoring the viability of the financial sector. In particular, they safeguard all deposits below EUR 100.000 in accordance with EU principles.

We welcome our own plans. Please note and even praise us, for standing by the deposit guarantee of E100k. As it is part of EU wide law,  in no way would we have ever suggested otherwise.  

The programme will contain a decisive approach to addressing financial sector imbalances. There will be an appropriate downsizing of the financial sector, with the domestic banking sector reaching the EU average by 2018. In addition, the Cypriot authorities have reaffirmed their commitment to step up efforts in the areas of fiscal consolidation, structural reforms and privatisation.

We will downsize any EU economic sectors we don’t like to EU averages (excepting the German Industrial sector or anything else German). As, by definition, half the sample must be over the average, if we insist on all those over the average downsizing to the average we should be able drive the average to our ultimate target of zero.

The Eurogroup welcomes the Terms of Reference for an independent evaluation of the implementation of the anti-money laundering framework in Cypriot financial institutions, involving Moneyval alongside a private international audit firm, and is reassured that the launch of the audit is imminent. In the event of problems in the implementation of the framework, problems will be corrected as part of the programme conditionality.

We will plug the competitive advantage that Cyprus had in the banking sector  by introducing online Anti Money Laudering training for all bank staff . Problems will be corrected by insisting on an 80% pass mark over three attempts.

The Eurogroup further welcomes the Cypriot authorities’ commitment to take further measures. These measures include the increase of the withholding tax on capital income and of the statutory corporate income tax rate. The Eurogroup looks forward to an agreement between Cyprus and the Russian Federation on a financial contribution.

We are glad that Cyprus is at last doing what we tell them and look forward to them doing what Russia tells them too. as long as it involves Russia bunging in some money too.

The Eurogroup urges the immediate implementation of the agreement between Cyprus and Greece on the Greek branches of the Cypriot banks, which protects the stability of both the Greek and Cypriot banking systems.

Can you please make sure this doesn’t screw up Greece again? If it does it will be Cyprus’s fault. Or Greece’s. But not ours.

The Eurogroup requests the Cypriot authorities and the Commission, in liaison with the ECB, and the IMF to finalise the MoU at staff level in early April.

And can Cyprus actually sign the agreement this time, preferably by April, rather than wriggling out of it at a later date as they usually do.

The Eurogroup notes the intention of the Cypriot authorities to compensate potential individual victims of fraudulent practices, in line with established legal and judicial procedures, outside the programme.

If you are mugged at the ATM trying to get your E100 out call the police, not us.

The Eurogroup takes note of the authorities’ decision to introduce administrative measures, appropriate in view of the present unique and exceptional situation of Cyprus’ financial sector and to allow for a swift reopening of the banks. The Eurogroup stresses that these administrative measures will be temporary, proportionate and non-discriminatory, and subject to strict monitoring in terms of scope and duration in line with the Treaty.

Once again this is a unique situation. Like Greece, Ireland, Portugal, Italy and Spain were all unique. Financial problems in the EU are like fingerprints – They are all unique but everyone has at least one but, more likely, ten. Administrative measures are temporary and in no way should be considered “temporary” as in the administration of Vichy France.

Against this background, the Eurogroup reconfirms, as stated already on 16 March, that – in principle – financial assistance to Cyprus is warranted to safeguard financial stability in Cyprus and the euro area as a whole by providing financial assistance for an amount of up to EUR 10bn. The Eurogroup would welcome a contribution by the IMF to the financing of the programme. Together with the decisions taken by Cyprus, this results in a fully financed programme which will allow Cyprus’ public debt to remain on a sustainable path.

We would rather not have had to donate anything but have been forced to hand over  E10bil. Having done all the leg work its only fair that the IMF bung in their lump too. And russia but thats a long shot so we won’t mention it again.

The Eurogroup expects that the ESM Board of Governors will be in a position to formally approve the proposal for a financial assistance facility agreement by the third week of April 2013 subject to the completion of national procedures.

We want this tied down asap before someone changes their mind.

Annex

Following the presentation by the Cyprus authorities of their policy plans, which were broadly welcomed by the Eurogroup, the following was agreed:

1. Laiki will be resolved immediately – with full contribution of equity shareholders, bond holders and uninsured depositors – based on a decision by the Central Bank of Cyprus, using the newly adopted Bank Resolution Framework.

Laiki to the Abattoir

2. Laiki will be split into a good bank and a bad bank. The bad bank will be run down over time.

The 3 tons of entrails will be left to rot in the corner and the 1 gram of edible meat will be put in the freezer.

3. The good bank will be folded into Bank of Cyprus (BoC), using the Bank Resolution Framework, after having heard the Boards of Directors of BoC and Laiki. It will take 9 bn Euros of ELA with it. Only uninsured deposits in BoC will remain frozen until recapitalisation has been effected, and may subsequently be subject to appropriate conditions.

A small part of the good meat will be seasoned with E9bil and served at the table of BoC, the rest will be left in the freezer.

4. The Governing Council of the ECB will provide liquidity to the BoC in line with applicable rules.

The ECB will provide liquidity under the usual conditions (like those applied by most payday loan companies) and of course default will mean the bailiffs popping round again. 

5. BoC will be recapitalised through a deposit/equity conversion of uninsured deposits with full contribution of equity shareholders and bond holders.

We will make the BoC look stronger by switching real money for monopoly money.

6. The conversion will be such that a capital ratio of 9 % is secured by the end of the programme.

We will back engineer everything to fit our own rules.

7. All insured depositors in all banks will be fully protected in accordance with the relevant EU legislation.

All insured depositors in all banks will be fully protected in accordance with the relevant EU legislation unless we change our minds.

8. The programme money (up to 10bn Euros) will not be used to recapitalise Laiki and Bank of Cyprus.

Because there won’t be much left over after we have paid all our admin and implementation teams we will sending over to run this scheme.

The Eurogroup is convinced that this solution is the best way forward for ensuring the overall viability and stability of the
Cyprus financial system and its capability to finance the Cyprus economy.

We think this is a really good idea of ours as we can hardly say this is a really stupid idea, even though it is.

March 24, 2013

“Draghi Where’s your Euros”

Filed under: Forex Strategies — Tags: , , — admin @ 4:42 pm

Whilst we wait for the outcome of the current round of Cypriot negotiations, let’s have a jolly song, or shanty, to cheer things up. With no apologies whatsoever to Andy Stewart, TMM give you their version of the Scottish classic “Donald Where’s your Troosers”

“Draghi Where’s Your Euros”

I’m back for a while from the Cyprus Isle
Where if you want your cash you’ll need some guile
And all the locals shout with bile,
“Draghi, Where’s your Euros?”


Let the debt blow high and the growth blow low
We’ll levy a tax on your depo
Russia won’t pay so the the Cyp’s all go,
“Draghi, Where’s your Euros?”

I sat in on a conference call
There was slippery talk between them all
And I was afeared that Europe would fall
‘Cause they wouldn’t give them Euros

Let the debt blow high and the growth blow low
We’ll levy a tax on your depo
Russia won’t pay so the the Cyp’s all go,
“Draghi, Where’s your Euros?”

I went for a loan to a German town
But all I got was a Schaeuble frown
And a scream from the Lady who won’t turn around,
“Draghi, there not your Euros!”

Let the debt blow high and the growth blow low
We’ll levy a tax on your depo
Russia won’t pay so the the Cyp’s all go,
“Draghi, Where’s your Euros?”

The Germans have bound this Superman,
And the Troika want another billion
I’ve done everything that I possibly can
So don’t ask me for Euros.

Let the debt blow high and the growth blow low
We’ll levy a tax on your depo
Russia won’t pay so the the Cyp’s all go,
“Draghi, Where’s your Euros?”

Let Cyprus leave or let them stay
It doesn’t matter either way
We can’t arrange a piss-up in breweray
We’ve buggered up the Euro!

March 23, 2013

Daily Forex Fundamentals – March 22, 2013

Filed under: Currency Charts — Tags: , , , , — admin @ 1:28 am

What’s on the Economic Horizon?

EUR Falls Across the Board
BOJ’s Kuroda Wasn’t Dovish in his First Speech
Comdolls Rise on Strong Chinese Data

U.S. Dollar (USD)

The Greenback’s price action was as assorted as Cyclopip’s trail mix as it gained on the euro and the franc but lost to the yen and the pound. The U.S. printed strong reports yesterday so what else could have influenced the dollar’s performance? Read more…

Euro (EUR)

Well, that was quick! The euro’s rally was short-lived as traders resumed dumping the shared currency after some ugly PMI numbers were revealed. EUR/USD practically erased all of Wednesday’s gains, dropping 46 pips to 1.2896. Meanwhile, EUR/JPY fell to 122.38 to record a jaw-dropping 192 loss on the day. Read more…

British Pound (GBP)

Finally, signs of a breakout from GBP/USD! Thanks to some positive economic data, Cable rallied hard yesterday, as it rose 63 pips to finish at 1.5172. Will we see a break above 1.5200 today? Read more…

Japanese Yen (JPY)

The yen was king of the forex hood yesterday as a not-so-dovish speech by the new BOJ head honcho inspired profit-taking on the yen pairs. USD/JPY crashed by around 150 pips to the 94.50 area while EUR/JPY wiped out most of its intraweek gains and closed at 122.07. Read more…

Canadian Dollar (CAD)

It looked as though the Loonie was gonna lock in a big win against the Greenback, but it ended up slacking off towards the New York session. USD/CAD fell to as low as 1.0201 before it settled at 1.0244 with a 10-pip gain on the day. Read more…

Australian Dollar (AUD)

Breakout alert! AUD/USD finally broke above 1.0400 and made new intraweek highs yesterday after the positive Chinese data boosted appetite for the comdolls. Read more…

New Zealand Dollar (NZD)

Looks like the good vibes from yesterday’s Tokyo session did carry over for the rest of the day! By the end of the day, NZD/USD was trading at .8312, 85 pips above its opening price! Read more…

Swiss Franc (CHF)

Another day in the slammer for USD/CHF, as it stuck within its daily trading range. USD/CHF failed to make any new highs or lows, eventually finishing at .9470, up 28 pips from its starting price. Read more…

Bonnie and Clyde, peanut butter and jelly, Justin Bieber and his hair. Some things just go well together.

In forex trading, you get better odds at securing pips when your fundamental analysis is complemented by technical analysis.

Head on to Big Pippin’s Daily Chart Art for some pip-locking technical setups!

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March 22, 2013

Learning to Code a Trading System in a Better MQL4 Editor

Filed under: Forex General — Tags: , , , , , , — admin @ 5:33 pm

I will be starting a series of videos where you can learn how to code in the best MQL4 editor. The series will be for beginners and we will be programming a simple channel breakout system.

Throughout the series I will be using the advanced Sublime Text text editor for coding in the MQL4 langugage to show you the benefits and speed of being able to code with this amazing tool. The aim of the series will be two-fold: I hope to teach you how to code in MQL4 if you’ve never done so before and I hope to show you a better way to edit and create code using the best editor for MQL4 today.

In this first video of the series I will show you:

  • How to get started with a blank template
  • The benefits of structuring your code to be more modular
  • Splitting your code to run on the change of every bar and on every tick
  • Using template code from MQL4 docs to help check that the trading context is free

These are only some of the benefits you will see in this video, it is just Part 1 so there will be more coming in the future. If you have any personal requests on what you would like to see in the future please let me know by writing a comment underneath.

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