Posts Tagged ‘forex advisors’

08.12.2010 Post in Trading

Using the programming language by a trader brings him to a completely new trading level – autotrading. Today a trader has an opportunity to realize his ideas by means of application program – write an user-specific indicator, script for implementing one-time operations or create an advisor – automatic trading system. The advisor can work 24 hours without any outside interference – monitor all changes of financial instruments price, send e-mail messages, sms-messages to a mobile phone and make many other useful things.
This Forex instrument certainly attracts experienced traders and stimulates their success on Forex market. For the newcomers MQL programming language is some kind of a guide into Forex market, where certain streams are manageable.
The main advantage of applicable programs is an opportunity to carry out trading operations according to the algorithm set by a trader at his own discretion. Any ideas which can be expressed in the algorithm language can be inserted into the program and used in a practical trading afterwards.
Application programs composition for MetaTrader 4 trading terminal requires knowledge of MQL4 language allowing to create advisors, scripts and indicators by yourself bringing your ideas to life – profitable trading algorithms.
Using MQL programming language you can create:
• Scripts – sequences of commands, programs which are implemented only once on your demand. They can replace actions made by you daily during the trading.
• User indicators – technical indicators written as an addition to the indicators inserted in the terminal. They display graphs or any other visual information. In distinct from scripts they perform at each price changing.
• Advisors – mechanical trading systems attached to any financial instrument. Advisors as well as user indicators perform at each price changing.
• Libraries – set of functions for executing specific tasks.
If you want to become familiar with the programming language you have to spend quite much time for this purpose. The better you get wise to the whole received material the easier it will be for you to start trading with an automatic trading system.

Added by InstaForex Staff

01.12.2010 Post in Trading

The international foreign exchange market is increasingly popular mainly due to the fact that it is easily accessible:  to enter the market all you need to have is a computer connected to the Internet. Trading on this market does not require substantial funds and the very trading process can be run automatically with the help of advisors and almost no actions are necessary from the trader.

Beginners tend to lack essential skills and experience in Forex trading, so it takes time for them to start trading on their own. This is the reason for about 70% traders employing automated trading, forex advisors in other words. It helps them to prevent emotions such as panic or anxiety from affecting a trading process. All advisors are developed on the basis of many years’ experience of successful traders and professional analysts. But even though automated trading programmes fail to ensure 100% profit,  they enable you to start trading with no particular knowledge in this field.

Any forex advisor is  a mechanical trading system (MTS). Such systems function in compliance with a certain algorithm. All forex advisors are aimed at successful dealing. You can find Forex advisors and download them at any forex website. Yet, please, keep in mind, that not all of them are equally helpful.

Forex advisors have been employed by many traders for rather a long time. Each year there are increasingly more programmes of such kind, many of them are updated which boosts their practicality. Trading with modern advisors not only helps to derive profit, but also brings Forex closer to you and provides you with deeper knowledge of its basic principles, improves your skills and experience indispensable for successful trading.

Most advisors offered by forex companies do not require any special skills to start working with them.  Basically, all you need to do is downloading, installing and adjusting them. Once you did it you can begin to trade and be sure it will not take long to have visible results.

As a rule, such an automated trading system is offered free of any charge with a detailed description of its functions attached, which sometimes does not coincide with their actual capacities. So, it is not recommended to make these the basis of your trading. Experienced traders with profound knowledge of all strategies prefer trading on their own, guessing currency trends within some little time periods.

Added by Dmitry Antipov,
InstaForex Clients’ relationship manager

21.10.2010 Post in Trading

The long-expected new trading platform MetaTrader 5 by software developer MetaQuotes Software Corporation was officially released on 1st June 2010. It has a set of impressive advantages both over the previous MetaTrader4 and other trading terminals.

Now there is a single position for total result of each currency pair, which makes trading more convenient. Moreover, abolition of position locking minimizes trader’s expenses for entering and exiting the market. Also the terminal now supports 4 types of order execution: Market, Instant, Request and Exchange. Aside from the market orders Buy and Sell, 6 types of pending orders are supported: Buy Limit, Buy Stop, Sell Limit, Sell Stop, Buy Stop Limit and Sell Stop Limit.

Another useful novelty is that quotation history in MetaTrader 5 terminal is stored in the minute timeframe (M1) only, and all charts are constructed on its basis. Such a concept allowed increasing the number of timeframes up to 21, so any period is available for quotation analysis: from minute to month timeframe. The way of historical data storage in MetaTrader 5 terminal is also highly economical.

Another important advantage of the new platform is the implementation of new development environment – object oriented programming language MQL5. It includes MetaEditor 5, MetaTrader 5 Strategy Tester, MetaQuotes Language 5 (MQL5) and client terminal MetaTrader 5 where expert advisors are executed. MQL5 has a very high speed of execution and is very close to C++ language in that parameter. For comparison, new language is 4-20 times faster than MQL4. High speed makes the development of even the most complex expert advisors easier and faster. MetaTrader 5 Strategy Tester is the most powerful instrument for any expert advisors developer. With it you can acquire expert advisor work results based on history before using it in real trading. Detailed reports on trading system allow traders to test expert advisors, detect their weaknesses, and compare them with other similar products.

Added by Tatyana Makhina,
InstaForex Clients’ relationship manager