Forex-Butler.com

Archive for November, 2010

Panda synchs to MetaTrader 4
Panda TS, a global leader in FX technology, today announced the launch of Panda Sync Server, a product which enables FX brokers to integrate and …
Read more on Finextra

MT4 FOREX trading platform
If you are interested in trading on the foreign exchange market, then you should start by finding out more information on the MT4 FOREX trading platform. While there are many companies out there that promise the best trading platform on the market, the truth is that not even half of them can deliver their promise. You need the best and Metatrader FOREX is indeed exactly what you need. As soon as …
Read more on PitchEngine

FOREX: US Dollar Weakness Hinted as Irish Bailout Boosts Risk Appetite
FOREX: US Dollar Weakness Hinted as Irish Bailout Boosts Risk Appetite
Read more on MENAFN

Forex Weekly Trading Forecast – 11.22.10
DailyFX provides forex news on the economic reports and political events that influence the currency market. Learn currency trading with a free practice account and charts from FXCM.
Read more on Daily FX

Forex reserves shrink to 8 billion
The country’s forex reserves fell $ 1.5 billion, partly on account of foreign investors pulling out of Indian markets and partly due to revaluation of non-dollar assets in reserves.
Read more on The Economic Times

How to Make a Living Trading Foreign Exchange: A Guaranteed Income for Life (Wiley Trading)

Solid Forex strategies for capturing profits in today’s volatile markets How to Make a Living Trading Foreign Exchange puts the world of Forex at your fingertips. Author Courtney Smith begins with an introduction to the Forex market-what it is and how it works. He then delves into six moneymaking techniques for trading Forex, including his unique Rejection Rule that doubles the profit of basic channel breakout systems. In addition to two specific methods for exiting positions at critical leve

List Price: $ 70.00

Price:

Make Money While You Sleep – Advanced Forex Auto Trading Robot – Metatrader MT4 EA – Expert Advisor

• 100% Completely Automated, MT4 platform based EA
• Takes less than 5 Mins to install and to get ready for trading
• No need to watch the forex markets all day long
• No trading decisions to make
• Live results published at http://forexunlimited.mt4stats.com/

These days it is hard to get something reliable, accurate, and affordable at the same time. Well… This system is !!!

I’m a retired Banking Professional, with over 12 years of Foreign Exchange Experience. I want you to know that Banks have a completely different approach towards making money in Forex market, with simple but powerful strategies. I’ve built this EA using one such Hidden strategy !!!

It is fully automated. You can just start the Expert Advisor and simply forget it. It will run

List Price: $ 99.99

Price:

Forex Broker Rating – FX Broker Reviews and Ratings

Forex Broker Rating

Are you simply fed up with browsing the internet for finding out the right forex broker? Then what you need is some authentic forex broker rating. Your Forex trading depends on the brokers, as they help you to succeed in the market. Forex brokers are individuals or agencies who help you to gain from the market and to cover the risk of your investment. The brokers help you in managing your accounts, in executing your orders, or to inform you of market trends. So the forex broker rating is what you need before zeroing on the right broker you are looking for. Forex Broker Rating

You will find a number of websites suggesting forex broker rating. There are some criteria, which you must consider to find out a good, dependable broker. Few basic parameters will be to know what is the minimum amount the broker is asking for to open up an account, will there any commission charged, or the facility to operate a mini account etc.

The first thing you need is to identify your personal selection criteria for your forex broker rating. Your forex broker rating criteria must make it sure to confirm that they are registered under the regulatory agencies like Commodity Futures Trading Commission (CFTC) and they have membership in NFA. These agencies are instituted to save investors from the impostors and to stop abusive trade practices, manipulation etc. Forex Broker Rating

Another important factor for rating the forex brokers will be to judge their reputations. If the broker is from an agency you can be more assured, as the broker will be regulated by the agency itself. Your forex broker rating should be formed by evaluating the type of account you want to open, the demo-accounts they offer or the kind of trade platform they have.

Some forex brokers may offer you to open an account with various currencies like yen, dollar, pound, etc. If you have decided to trade in a particular currency, you must be aware of the exchange rates. Forex broker rating should consider the brokerage or the commission asked for. Very few brokers in forex ask for direct commission, and therefore, you should find out what special they are offering in exchange of this commission. Try to find out if the broker is having any signal services, which may influence your forex broker rating greatly.

Leverage is another factor that helps you to succeed in forex trading. So, while rating the forex brokers you have to consider on the fact the amount of leverage they are offering. But one thing you must remember that as you increase your leverage, your risk also increases. In forex broker rating you can look for whether the broker may offer you some customized service either free of cost or with some small subscriptions. Judge the brokers very carefully based on the forex broker rating as the selection can make or break your trading. Forex Broker Rating

Question by Ralph: What is the difference between a forex broker & a forex trading platform?
Are there websites that do both? Is there a need to use a broker when the online trading platform does it for you?

Thanks.

Best answer:

Answer by agent4927
Yes you need a platform with a link to a broker to trade. Metatrader MT4 is the most common platform that brokers use. You can use by it’s itself just for charts, or you can trade off it if you have a live account attached to it.

You cannot trade without a broker.

Add your own answer in the comments!

Forex Trading Made Easy: Metatrader Expert Advisor

MetaTrader, the famous forex trading platform

MetaTrader 4 is a free-of-charge program specially designed for online trading in the Forex market. The built-in technical indicators allow you to analyze securities’ quotes, whilst the MQL4 network enables the development and usage of automated trading strategies. In order to trade in the financial market, traders need a program that allows them to analyze quotes, make trades and develop strategies.

MetaTrader 4 is a complete online trading package designed for providing brokerage services to Forex markets. The system has all that is needed for brokerage companies and at present, is considered the best online Forex trading platform. Until now, there are over 200 brokerage companies and banks worldwide that are using the MetaTrader 4.

MetaTrader 4 allows you the possibility of developing and using automated trading programs, known as the Expert Advisors (EA), to do the trading for you.

The Expert Advisor is a small program that you can embed/install into MetaTrader software. It is written in a specific programming language called MetaQuotes Programming Language Version 4 (abbreviated to MQL4). It can be switched on and off to automate your trades. It can analyze the chart as any indicator do plus it can, at specific conditions, open, modify and close trading orders for you.

Why Do Average Forex Traders Lose Money?

The reason behind the need for Expert Advisors
According to DailyFX.com, A Premier Site For Forex Trading News, Charts, Signals, & Strategies, most forex traders lost money due to poor money management. A lot of traders just do not seem to follow a simple good money management strategy: Take your profit quickly and cut your losses short. Unfortunately, this strategy is actually harder than it sounds because of a few natural, built-in traits that all humans have. Humans are made greedy, fearful and thus, inconsistent. That is why, according to DailyFX again, most traders would probably lose all their money in one single trade right after winning a few.

Making money by trading forex is all about consistently taking profit, no matter how small it is and consistently cut your losses at losing trades. The BEST forex trading strategy is to do all that, plus consistently look for currency pairs that would give you indication of a winning trade. Has anybody done this? sure. Can just ANYBODY do this? I think not. This is why Expert Advisor is needed.

It runs 24/7.
It consistently look for winning trade.
It consistently cut loses to minimal.
It has no greed, no fear and very consistent.
It does all of the above for all currency pairs simultaneously.
Most importantly, it has ingrained strategies in its mind and will stick to it no matter what.

Again, can a human do this? yes. you would need at least 4 PC monitors and probably a few computers to cover the need of the processing power and you, sitting in front of them for hours and hours. Or, you could save yourself from a lot of trouble by using a money-making expert advisor instead.

How To Select The Best And Most Profitable Expert Advisor

There are 4 things that you would have to look for a money-making expert advisor:

High percentage of winning trades – means the EA would detect a lot more winning trades than losing ones. In other word, the EA that has the least drawdown percentage (losing trades).
The least loss in each trade – means the EA has strict stop-loss policy to ensure minimal losses on losing trades.
Software maker/seller that can show proven, Live forex account results that meets both requirements above on their website.
Have huge customer base – indicating satisfaction of the product usage.

Any MetaTrader Expert Advisor that meet these criteria above should definitely be considered. Read reviews from other users could also help in the decision-making.

Toyota lifts forecasts only slightly as yen bites
Toyota Motor Corp cautiously nudged up its profit forecast underscoring how vulnerable Japan’s biggest company is to the firm yen and a tepid sales recovery that are weighing on its shares.
Read more on Reuters via Yahoo! UK & Ireland News

Toyota lifts forecasts only slightly as yen bites
* Q2 op profit 111.46 bln yen vs consensus 142 bln yen
Read more on Reuters via Yahoo! Singapore News

Toyota lifts outlook but yen, weak sales a worry
Forecast still below consensus. 5 Nov 2010 8:47 PM
Read more on Business Spectator