Technical analysis changed in time together with trading. Even though traders mostly follow robots today, some things remained the same. The Elliott Wave Principle key to market behavior is one of them. Elliott waves look at markets from a human nature point of view. As such, the Elliott Wave Principle allows traders to catch perfect […]
The price of a financial product moves continuously. However, from time to time, a “gap” occurs. Trading gaps is not a one-way street, though. Depending on the financial product, different ways of trading gaps for daily profit exist. Moreover, like this article will show, day trading gaps differs from culture to culture. Charting as a […]
Few trading concepts gained in popularity like harmonic patterns. In fact, retail traders use various harmonic patterns Forex strategies to find the perfect trade. There’s a reason why traders love them. They come with a clear setup, giving an entry and exit place. Moreover, the risk-reward ratio is one of the best. The Forex market […]
Why do people get excited about Forex Trading but fail in the end?
When it comes to Forex trading, you see it’s not just about putting enthusiasm and setting trades based on a strategy or a gut feeling. Setting up a statistical approach is very important to get profitable results on the long term. You have to think and be smart by monitoring statistical parameters which can help you track and detect strategy deterioration. Regardless of whether you are using Forex Robots or you are trading manually, parameters such as profit factor, expected pay-off or recovery factor are just three of the things that you should never overlook.
Interpreting the strategy tester report Have you ever been confused by the strategy tester report after running a backtest in MT4? Would you like to better utilise ratios like Profit Factor and Expected Payoff in your analysis? If so, then this video-tutorial is just right for you! I will show you how to read the MetaTrader 4 […]
In this video I will provide a very detailed explanation of what the three backtesting models in the MT4 Strategy Tester. You will learn about the Open Prices, Control Points and Every Tick models; and as you will see they all have their benefits which you can use to your advantage during backtests, forward tests […]
Today we will be looking at Expert Advisor properties. Forex Robots have external variables which are displayed in the form of EA properties in MetaTrader 4. Simply put, these are your levers by means of which you can control the robot’s behaviour. This is the best and most efficient way to adjust your trading strategy […]
What is Backtesting? Investopedia defines backtesting as “The process of testing a trading strategy on prior time periods. Instead of applying a strategy for the time period forward, which could take years, a trader can do a simulation of his or her trading strategy on relevant past data in order to gauge the its effectiveness” In […]
MT4 Strategy Tester Window In this tutorial we will look at the Strategy Tester window. I will explain what each of the options is responsible for and how you would go about adjusting them. The MT4 Strategy Tester has a lot of buttons and at first it can be quite overwhelming. However, I will guide […]
Hello there! In this video I will show you how to download and install MetaTrader 4 and open a FREE Forex demo account. What is MetaTrader 4? MetaTrader 4 (MT4) is the world’s most popular platform for trading Forex. In our series of tutorials we will be using this MT4 to test the scripts and expert […]