MT4 FOREX brokers | MT4 trading strategies

What Are The Warning Signs Of A Poor MT4 EA?

Oleg Zaika — Fri, 10 Feb 2012 18:42:58 GMT

If the vendor unable to provide data to calculate average drawdown then you should not consider this vendor and all the MT4 EA related to it. The inability to provide historical data is one of the many warning signs that you should be aware of.

Another warning signs is the guarantee of huge profits. Some claim that they have created the perfect system that can generate huge profit over time. Most of the time this turns out to be scam or the ponzi scheme. A Ponzi scheme usually fools the trader by giving out huge profit initially and promises more profit to come. Actually, they are using other traders or investor money to pay up the top traders to show good profit and in turn bring in more investor. When you increase your capital or invest more money, the schemes suddenly disappear along with your money.

So before choosing an best MT4 EA, take not on the vendor reputation. Do not get too excited on the promise of profits. In trading, there are bound to be losses. The best MT4 EA will help you to reduce those losses and not completely overcomes it. Then look on a few things concerning the MT4 EA vendors.

Does it have an audited result?
How about actual customer referrals or other traders reviews?
Are you able to contact the vendor personally to get more information?
Does it has actual historical data and had been running live for quite some time?

In the end, if you feel that the vendor is suspicious, just stay away from it. There is many other decent and reliable best MT4 EA vendors that you could choose from.

In conclusion, what do you need to learn in choosing the right MT4 EA?

Learn how to read trading statistic.
Learn how to discern profitability factor. This includes reading and understanding drawdown, performance expectancy in which case you need to study MT4 EA accuracy and Win/Lose ratio.
Learn the intangible factor of your MT4 EA. This includes understanding your trading style and managing your trading risk and invested money. At the same time, you learn how to run your MT4 EA effectively by using both quantitative and qualitative analysis such as leverage, trend size and trading capital.
Learn to know the warning signs of a poor MT4 EA and not to use any MT4 EA from the same vendor.

These four main factors are important and you need to have good grasp of each. Do not overlook any of the discussed factors. Our intention is for you to research and analyze the best forex EA. In the end, you should have the most suitable forex best EA to maximize your trading efficiency. If you do have any additional question or would like to add more on the information, you are free to contact me. I hope that these few articles will give you better understanding on automated MT4 EA.

For my opinion Best forex robot 2010-2011

Expert Advisor TFOT

Oleg Zaika — Thu, 11 Aug 2011 05:17:21 GMT

Expert Advisor TFOT based a very complex algorithm that I was not able to fully understand. EA included several Indicators and a lot of filters. What I was able to understand:

EA contains two strategies. First Strategy - scalping strategy. Second - trend following strategy with profit trailing. I've tester this EA within 6 months on two real accounts.

1st - NFA Hedging do not permitted and 2d -Non NFA Hedging permitted. I chose the accounts so specifically in order to check whether the NFA restriction affects the EA work. The result in both accounts is almost identical. Profit for 6 months about 90% . All months EA was profitable except June. it is strange but in June all my EA showed losses. For my opinion it is very powerful & promising EA. My personal recommendations.....

TFOT Monitoring From BJF Trading Group website (Real account too). Their profit 160% with standard risk and fixed LOT

Non-farm payroll trading

Oleg Zaika — Wed, 27 Jul 2011 04:07:38 GMT

The release of the NFP generally occurs on the first Friday of every month at 8:30am EST. This news release creates a favorable environment for active traders in that it provides a near guarantee of a tradable move following the announcement. The NFP report generally affects all major currency pairs, but one of the favorites among traders is the GBP/USD. Because the forex market is open 24 hours a day, all traders have the capability to trade the news event.
The strategy can be traded off of five- or 15-minute charts. For the rules and examples, a 15-minute chart will be used, although the same rules apply to a five-minute chart. Signals may appear on different time frames, so stick with one or the other.Nothing is done during the first bar after the NFP report (8:30-8:45am in the case of the 15-minute chart).
The bar created at 8:30-8:45 will be wide ranging. We wait for an inside bar to occur after this initial bar (it does not need to be the very next bar). In other words, we are waiting for the most recent bar's range to be completely inside the previous bar's range. This inside bar's high and low rate sets up our potential trade triggers. When a subsequent bar closes above or below the inside bar, we take a trade in the direction of the breakout. We can also enter a trade as soon as the bar moves past the high or low without waiting for the bar to close.

Speed is very important for orders opening for this strategy. I use FastOrder Software
This tool was designed for traders for whom speed is very important for orders opening. For example, to trade on economic news or for forex scalping. FastOrder Tool allows you to open order in one click on several trading MetatTrader 4 accounts.

MetaTrader MultiTerminal

Oleg Zaika — Fri, 09 Apr 2010 17:45:00 GMT

Metatrader multiterminal - forex software allowing copying trades from master metatrader terminal to slave metatrader terminals. Any money manager know how important software copying orders from general terminal to client's terminals.

Metatrader multiterminal software should possess the following properties:

-Low delay. This parameter is very important for forex scalping strategies.
-Ability to work with expert advisors
-Flexible system for copying parameters (lot coefficient, money management, filters, etc.)
-Ability to work with different brokers, servers (ecn or standard, micro or standard), quotes (5/4 digits)
-Ability to copy all kinds of orders: pending, market, partial closure etc.
- Ability to move SL or(and) TP
-easy users management.

I've tested about nine metatrader multiterminals and found two programs fully meet these requirements.

First one: Metatrader CopyTool Software
Disadvantages: all slave terminals should be running

Second: Metatrader MultiTerminal "PowerTradeCopier"
Disadvantages: undiscovered

Incidentally Metatrader MultiTerminal "PowerTradeCopier" can work through the Internet (with ability to manage clients on master side. it is very important for this business) that will be useful to forex signals sellers.

How to examine a broker?

Oleg Zaika — Thu, 24 Sep 2009 13:44:00 GMT

    Successful use of scalping is directly depending on your broker. Experienced traders choose brokers very carefully with consideration of many factors.

     The first factor, is the spread on the traded currency pair . Most of the brokers give the information about spreads on traded currencies on their websites, but I would recommend to check the spread before you start the trade. I would check the spread on a real account ( you have to open real account, but you can quickly close it and therefore check how quickly you can withdraw money). For a spread checking I would recommend the advisor developed by BJF Trading Group Inc. You can download it here for free.

     Also, if your broker is ECN, check all the commissions in order to make sure that a broker won’t “eat” all your profit.

    Than I recommend to check the execution speed. In order to do this you have to place your advisor to trade with minimum lot and estimate the time interval between the starting time of sending order and it’s ending time. Go to the folder of log files C:\Program Files \metaTrader\logs\    and look on the log file.

Example :
00:56:26 '1003718': order sell market 0.20 USDJPY sl: 0.000 tp: 0.000
00:56:27 '1003718': request was accepted by server
00:56:27 '1003718': request in process
00:56:27 '1003718': order was opened : #1635944 sell 0.20 USDJPY at 91.180 sl: 0.000 tp: 0.000

We can see that advisor made it’s request for opening 00:56:26 and order was opened at 00:56:27 – good work.

    You have to also analyze all the teaks around particular order. It will help you to discover manual intervention. Broker can “throw” quotation in the stream of quotations in order to beat your “stoploss” or to give you maximum worst price. That’s why exploring of teaks will make everything clear. Analyze 10-20 orders.

    In the future, when you will pick a broker and start the state, I would recommend you to analyze every order. On the website BJF Trading Group Inc. (section Tools) , you can find an instrument AuditTool, that will help you a lot in analyzing orders. And an instrument was created from the will of brokers’ company and was tested by chief dealer.

    So analyzing of spreads ,speed and teaks around a order, will give you the full understanding of your broker. I recommend www.MT4.ca – this is Canadian partner FXOPEN picked by me for the scalping. The only disadvantage of it is that the broker is not registered in NFA, even though most of USA brokers transfer their clients to other jurisdictions to escape NFA regulation.

Best Regards,
Oleg Z.

FOREX Scalping strategies

Oleg Zaika — Tue, 16 Jun 2009 16:06:00 GMT

Scalping is a trading on the short time intervals with the purpose to get an income in 10-15 points during few minutes. This style of trading counts as the most favorable for newbie who wants to get richer in one moment. That’s true from one side, but it is also true that not every newbie have ability to success in this style of trading. The scalper’s most favorite time intervals are 1-15minute price graphs.
Now, I am going to provide you with some advices that will help to make the professional scalper from you.

1. First of all, for the successful market scalping, you have to choose the moment when the market has already entered some channel and is awaiting for something. Usually it is waiting for news. That means we have to pick the time when it is not awaiting for any important economic indicators of that country of that particular currency we operating with.

2. After you’ve chosen the time, try to define a channel and build levels of support and resistance. In order to do this, you might need the graphs of bigger time intervals. I would not suggest you entering over half an hour graphs during scalping.

3. Indicators. I have tried a lot. Now I am using Stochastic + FXPredictor mt4 indicator.

4. Forget about orders because during scalping you will have no time for its installing. Entering and exiting a market occurs only in the hand regime or, what is more convenient, by the script.

5. Determine your own level of loss. Do not high it up too much because scalping involves often entering a market and in your bad times you are at risk to loose your whole deposit.

6. Study the theory of round numbers – for example, if the market reaches to the price of 0.9500, it will probably stay on this level for a bit and the price for some time will be situated in the channel around that number. This is happening because of traders love round numbers and place their special orders on them. Now because there are orders for both buying and selling, the market temporarily falls in stupor. During this time it determines which way it wants to go. This theory itself creates n independent trading system.

So this is pretty much it. Determine the moment when market is in the channel, determine levels of support and resistance, and during the price reaches these levels, use the signals of stochastic and FXPredictor mt4 indicators for entering and exiting. I would recommend testing any strategy on the history.

regards,
Oleg

MT4 FOREX Scalping Strategies

Oleg Zaika — Thu, 02 Apr 2009 14:13:00 GMT

FOREX Scalping Risks managing

The entering techniques in scalping are very simple, yet the aspect of risks managing is very important. Following these rules is necessary, especially when your plan is going off track. Because the stops for this system are very strict, a trader has to be whether very fast entering or to have his spot on the market of the order. It is very important to learn how to enter with a small loss before it got much bigger.

Three forex scalping categories

1.   Playing on the time.
This category is divided into two types:
-   Play on the disruptions; fast removal of a scalp in a few minutes in any driving direction of the market, when the disruption of a moving price diapason occurs.
-   Play in those moments, when the market realizes its fast movements (for example, at 10.00 and 15.00 in New York).

2.   Trading against the trend.
All the dealerships are launched in specific periods during a session, when the market trend is undetermined.

3.   Dealerships following the trend.
Trading on the rollbacks.

In my opinion, the best market for scalping is the market of futures SP 500. This is one of the most marketable, active and accessible markets. Using the scalping on the market of the SP 500, gives you a good income.

Playing on the time.

Strategy 1:

Disruption of the15- minute opening diapason.
This is my favorite method, all you need is a telephone or an internet connection with you broker. It differs from the usual opening diapason disruption play tactics, because an income fixates very fast and a dealership doesn’t last longer than 1 minute.

Model: Wait for the formation of the first 15- minute diapason.
Entering: Enter through the buy stop 2 ticks lower than maximum of the first 15- minute diapason.
Exit: Close the position while getting an income into the first location.
Stop –loss: Exit with the loss in the first location or in one minute after opening the position.
Re-enter: Wait for the disruption in opposite direction. In this case, I double the stop size. Exit rules remain the same.

Look carefully on the disruptions of the first 15-minute diapasons every day. All 9 dealerships were successful. To be continued…

New MT4 ExpertAdvisor SteroID

Technical characteristics:
- Metatrader 4 operating terminal
- EURGBP M15, AUDNZD M15 currency pair
- the amount of the initial deposit is not important, it can be 100$
- completely automatic trade, the control of own orders
- stable average monthly profit from 50% at minimal risks, and up to 1000% at maximal risks
- sending of daily reports on e-mail or a mobile phone (SMS) by the advisor

This is an off-the-shelf program: the trading advisor, compiled in a file, for completely automatic trade in Forex market, using MetaTrader 4 trading terminal. The advisor is designed to work on the trading account with USD and EUR deposit currency, with leverage not less than 1:100, on the chart of EURGBP М15 and AUDNZD M15 currency pair.
The delivery set includes a set of following files:
SteroiD_vXXXX.ex4 – the compiled file of the trading advisor.
MarketInfo_vX.ex4 – the compiled file of the advisor, which displays parameters of the symbol (such as StopLevel, FreezeLevel, MinLot, MaxLot, LotStep, etc.), detects the difference between the terminal time and the GMT time (on summer time) and date of switching a clock on summer/winter time (see below for details), and also saves these data in the <name of the currency pair>.csv file in the “…\MetaTrader\experts\files\” directory.
gmtstdXX.csv – an auxiliary file, where TimeZone and SWChangeMode parameters
Opt_stepX.set – presets files for optimization and testing of the advisor separately for EURGBP and AUDNZD currency pairs.

Currency: AUDNZD, EURGBP
Timeframe: M15

All the data, needed for trade on REAL accounts of protection and correction, are included in the advisor, namely:
- correction of slippage
- correction of spread change
- Closing of orders on TakeProfit (excludes slippage or a server error at closing of orders)
- shadow levels of StopLoss
- 3 methods of money management, which exclude drawdown
- automatic detection of difference between the terminal time and the GMT time, and also detection of date of switching a clock on summer/winter time
- the report, which is convenient for the analysis and is made by the advisor

Download Back Tests

Demo account monitoring:

Price: 495.95USD

My personal opinion of MT4 - MBTrading Navigator Bridge.

Oleg Zaika — Thu, 26 Feb 2009 14:59:00 GMT

First of all, I want to concentrate on MBTrading Broker. This is an ECN broker with real quotations and great spreads. MBTrading has MT4 demo, but this terminal is pretty “raw” yet and there is no information when real accounts on MT4 are planed. I think it’s going to happen in a year. Every experienced trader knows that the trading through API is always the most successful. Thus I decide to buy and test MT4 - MBTrading Navigator Bridge developed by iticsoftware.com.

And those are my conclusions:

The installation took 5 minutes. The installation of MT4 Demo took more time. After that I added all mt4 expert advisors, which I use with mt4 demo. After working a week I found no problems. All orders were copied without errors. I was also surprised that there was no need to have a lot of open pages on the screen. In order to work with MT4 - MBTrading Navigator Bridge you have to have only one MT4 terminal open. The thing that surprised me the most was that the script supplies with an open code, and DDL is the only thing that is protected. This gives an opportunity, for example for script, to organize all straight calls right from mt4 expert advisors. That’s what I am doing now.

Download MT4 -MBTrading Navigator bridge Manual

You can buy bridge from iticsoftware.com web site (menu MT4 TOOLS) or from my blog

Time Limited version 450 USD / 1 year

Good Luck!

Oleg Z.

MT4 EA "NeuralScalpingEA" testing

Oleg Zaika — Tue, 10 Feb 2009 03:45:00 GMT

I am lucky, because I became the first tester of the new mt4 expert advisor from BJF Trading Group, which called The "NeuralScalpingEA". In addition, I was given the algorithm of learning (old friend’s help ). So what can I say about this mt4 advisor? It consists of “dll” in which all minimum and maximum calculations for the particular period of time are hidden. The idea of minimum and maximum calculations is not new, BUT the idea that was brought into the expert was the idea of calculations on a few time terms which gives an opportunity to understand the decreasing and increasing of volatility of the market more exactly. In addition, “dll” has the neuro network calculations. This piece of the code is unique, because it contains unlimited calculation opportunities of the neuro network of any structure and with any type of layers. I’ve met a lot of information about theory but I’ve not met anything about the practical realization on this level according to Forex. I could just “dig up” the one layer “perception”, but all this was a tailoring under histories.

    In the MT4 EA being researched, the network teaches well and gives a perfect result on the testing area. For people like me, who see Forex not just as earning but also as a “study” –there so much other work, because the production of configurations of different networks and testing are involved too.
    Back Testing gave a perfect result even with switched off network. EURUSD is the chose pair, because this is the most popular pair and, I think, brokers will not even dare to spread on it. After that, I chose the worst part of the graph, learned about the network and tested that bad area. Network fixed situation. The mt4 expert includes all important work functions for different brokers, for example, you can expose the “stoploss” from the beginning without the order and just get it later or you can expose the order’s time life, for broker to estimate your strategy as not a forex scalping strategy. By the way, BJF Trading Group announces MT4 as a “scalper”. I would say this is not a scalping system any more. I think there is nothing to nag about for broker.

I would outline some disadvantages.
    First of all, if you add MT4 terminal to the graph and star testing at the same time, MT4 terminal disappears. But this is not developer’s fault, it is just MT4 doesn’t support few processes going at the same.
    Secondly, the mt4 expert has a protector. Here I also can understand the developer, because the retrading of other’s mt4 advisors became a good business for bad guys . More than that, I think the product of this level gets into the trade for the firs time and its price is definitely undervalued. As for me, I really like this mt4 advisor. I my personal recommendation is to buy it with no doubt. I would give it the mark 10 out of 10. If there will be an opportunity to adapt other currencies or to adjust the network better than the developer, I will put it on my blog.

Good Luck!
Oleg

Currency: EURUSD
Time Frame: M5
Risk: Medium

Price: 950 USD

MT4 EA "NeuralScalpingEA" Description and Parameters

The expert advisor consists of the unique scalping mt4 expert advisor, which is based on in-depth analysis of the sample by means of overlap of multilayered flat channels that not only gives a chance to identify the price maximum and minimum on a certain time interval, but also allows to estimate the market tendency, i.e. if the market dies away or vice versa. Neural part also analyzes sample in the same time interval and takes a decision to open order or not to open it on the basis of the accumulated knowledge. Options also allow to open order at negative signal of the neural networks, but with changed StopLoss and TakeProfit and smaller lot. It allows to protect the deposit in a better way.

The expert advisor was created for work with currency pairs having low spread EUR/USD. In order to prevent the pernicious influence of the expert advisor on the market, the number of copies in sale is limited. MT4 EA NeuralScalper Manual

MT EA "NeuralScalpingEA Back Test

This advertising block added by BJF Trading Group

Welcome to my MT4 FOREX Blog!

Oleg Zaika — Sat, 31 Jan 2009 17:50:00 GMT

About my MT4 Forex Blog

    I am glad to greet you on my personal blog MT 4. This blog is about brokers MT 4 and trade strategies and everything that is connected with word Forex. I am not going to write about things that are already told and written .I want to state my own thoughts and knowledge about stuff that is not written well. MT 4 – Metatrader 4 is a trade platform for completion operation on the market Forex.

   I am a trader with substantial experience. I live in Canada, although began to trade in Ukraine. I was concerned with successful business, but once I saw the book about Forex market. After reading I understood, that in order to live anywhere I want, to be wealthy and successful, all I need is internet connection. I did not hesitate and opened “Demo” account in one of the big American broker companies. In couple hours, I was talking to a girl from this company. She taught me very fast how I can trade on the Forex market. She showed me a page with market analyzes platform, and indicators. I bought several books and, at the very beginning, I found technical analyzes figure of “Head and Shoulders” on the graph, and made my first rate immediately. I won! Afterwards, I opened real account on 10,000 USD and it rose to 21,000 USD. I could not even understand how I did it. Now, the dream about life on the beautiful islands seemed very real and close to me. But, unfortunately, good things pass quickly; somehow my account got reduced to $5000.


    Books I read, say that housewives and farmers become the most successful traders. So is the problem my master degree? So I stopped and began a detailed search about Forex and everything that is connected with it. From the very begging, I found some people who work in the broker companies, and learned about their job, that is our main enemy. Step by step, I learned about trade strategies and methods. Now I am trying to systemize all the information into this blog. I know how brokers trade and block the trade and I’ll try to give this information out for you intangibly. After 3 years I opened my own account in two broker companies, doubled deposit, and withdrew money. I consider this moment as the beginning of my trader career. Now I want to talk about everything in order.

MT4 Brokers and how to work with them properly.

    I’ll be talking about MT4 Brokers because I like metarader platform and it is very convenient for auto trading.    If you think, that Forex is united and interconnected system, you are deeply mistaken. Your MT4 client terminal is connected with MT4 service broker terminal. And the only deals of the traders with high and successful coefficient may spread out outside the broker company boarder. On the real Forex? Not necessarily; more likely, it relocates to the other MT4 broker or to the bigger MT4 broker or to the less experienced one. And only large MT4 broker will transfer deal to the bank. So what is going to be with your deal? You will keep playing with thousands of traders inside your company.


    How can you bring it to the life technically? Very simple: a broker has a Bridge that allows copying your order or only part of it, to the other MT4 broker. I know 2 this kind of programs: Boston Technologies Bridges and BJF Trading Group Copy Tool Software. BJF Trading Group Copy Tool Software is cheaper, it copies from MT4 to MT4, but you might be given a Bridge to any other broker that represents API.

    How can you benefit from it as a trader? You are able to trade with your Metatrader Expert Adviser on the broker that isn’t supporting MT4 terminal, but has better trader conditions (spread, etc). You may also ask somebody for the investor’s password, take a look how that system trade and copy business into your terminal.

Why brokers transfer dealerships of successful traders to another broker or bank? Because the majority of these brokers earn their money when you loose your money. If you are gaining, they are loosing their money, thus, they will do everything for you not to win or to win somewhere else.

The right way of choosing MT4 Broker.

So, you have a trade strategy and you want to trade. In order to pick MT4 broker(s) for trade properly, you have to understand how broker classifies your strategy and which trade conditions you need for it.

Regards,
Oleg

MT4 Forex Scalping Strategies.

Oleg Zaika — Fri, 30 Jan 2009 18:05:00 GMT

   Let’s start from the “scalping” strategies, which are very popular today.
I would call scalping strategies as strategies with an income of 2-3 pips. But my opinion doesn’t mean anything for you. You have to ask broker whether he allows forex scalping strategies or not, and which strategies refer to scalping strategies. Broker will give you a clear definition. If you will recognize a scalping strategy as your strategy, than you have to change it or look for another broker. The second thing is that you have to analyze the “spread” on the traded pair in current several days, since announcements on the brokers site might be misleading. For the “spread” analysis, I can share indicators with you.

They are important for the scalping strategies:

- authorization of a broker
- “spread” on the traded pair.

    For example, let’s take a pair of successful MT4 forex robots, scalpers Stomper and IntellectualPro. In order to work stable, they need a “spread” on the eurgbp pair not more than 4 pips in the Asian session.

MT4 expert advisor "Stomper" real account monitoring (Click bar below to VIEW monitoring page)

MT4 expert advisor "Intellectual" monitoring page (Click bar below to VIEW monitoring page)

I found a few brokers, who accept scalping strategies, and 2 brokers who don’t. I wrote the letter for these two brokers, where I asked: “What do you mean under scalping? What is the minimum profit?”. I got a respond: “Your strategy has to take a profit in more than 5 points or orders time life has to be longer than 5 minutes. I connected with Developer Company of these scalpers and, in 1 hour, they adopted adviser under the broker. If a broker hides from a question, do not cooperate with this broker company.

What problems may appear in the future?

If a broker saw you are winning him, he would protect your trade and would make your trade conditions very uncomfortable. Than you will see errors in the MT4 journal:

Error # 129 - ERR_INVALID_PRICE - Invalid price.

Error # 136 ERR_OFF_QUOTES - Off quotes.

Error # 138 ERR_REQUOTE -Requote.

      If you trade in big volumes, you have to talk to your broker and he might copy you to the bank or you can order a Bridge to the other big broker. If your trade doesn’t have big volumes, look for another broker and break your deposit into few parts and few brokers.

To be continued…

Oleg.