Category: Forex Basics

How to trade forex like Richard Dennis

Richard Dennis is a famous commodities trader from the 1970’s. He is famous for setting up a pioneering team of ‘Turtle Traders’ who went on to make huge profits in the financial markets using a simple mechanical trading method. In doing so, he managed to win a bet with fellow trader William Eckhardt, that ‘anyone’ could be taught to trade successfully.

Dennis is known as a commodities trader but the truth is that his fund would trade a whole gamut of financial futures including stock market indices like the dow, commodities like sugar, and currencies like the Japanese yen.

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Taking Advise When Trading Forex

Taking Advise When Trading Forex

‘Forex Trading is easy’, so the many websites would have us believe, but if it was, wouldn’t we all be millionaires? As with everything new in life, we need to learn how to do it and do it properly. Today’s budding Forex traders are lucky enough to have a wealth of training available on the

Why a good forex trading system fails – Part 2

Why a good forex trading system fails – Part 2

Many trading systems look good on paper and cunning system developers and fraudsters often use this fact to promote a forex EA or trading system product that actually has no chance in the real world. Some of these products will come with slick marketing materials that offer the potential to substantially increase your income from

Why a good forex trading system fails – Part 1

Why a good forex trading system fails – Part 1

Whatever anyone may say, coming up with an effective forex trading system is no easy task. There are lots of things that need to be taken into account when designing a forex system in order to make sure it is robust. Skipping any of these processes means that a trading system will ultimately fail when

How to destroy your trading system

How to destroy your trading system

Human emotions can cause all sorts of problems when trading forex and all successful traders know this. It’s for this reason that many traders create trading systems, in an attempt to eliminate their negative emotions and keep a level head while playing the markets. There is a lot of sense in this and trading systems

6 facts about bitcoins

6 facts about bitcoins

The price of one bitcoin has plunged so far this year and is around 50% lower than it was in December 2013, when it traded at around $1150 per coin. This has led to traders to question the future of the currency. Others claim problems of security and stability are inevitable when setting up any

3 forex combinations

3 forex combinations

Forex traders like to use different methods and tools to help them trade profitably. There are hundreds of technical indicators available to choose from; some of them work well and some of them only seem to work some of the time. Often traders like to combine indicators as doing so helps to provide more robust

Coding your first expert advisor – Principles

Coding your first expert advisor – Principles

If you are looking to automate your trading endeavours or if the emotional side of trading is causing you too much stress it’s a good idea to set up an automated trading system. There are lots of trading platforms out there that allow backtesting so there is no excuse why you can’t test out your

Getting started with MetaTrader 4

Getting started with MetaTrader 4

MetaTrader 4 (MT4), developed by MetaQuotes, is an electronic trading platform favored by retail forex traders around the world. The impact of MetaTrader 4 has been huge and it’s popularity has grown tremendously. In fact, even though a newer version, MetaTrader 5, is now out, MT4 is still preferred by most traders. MT4 is popular

Coding your first expert advisor – Writing the code

Coding your first expert advisor – Writing the code

Once you have your trading strategy down on paper and you are aware of the principles that go into coding your first expert advisor, it’s time to start writing the code. Once MetaTrader4 is installed and open, bring up the MetaEditor (F4) and create a new EA from scratch. MQL4, which is the language used