MQL4METATRADERAUTOMATIONTUTORIAL – Trading Tutorial Automation

Mit MQL5 und Metatrader 5 wird der Standard Deviation Indikator geliefert, der dazu genutzt werden kann, mögliche Kursänderungen im Forex Trading auf dem Chart vorauszusagen, denn er berechnet die durchschnittliche Kursbewegung der letzten X Kerzen und schlägt aus, sobald sich der Kurs überdurchschnittlich stark bewegt… [download id=”501″]Automated Trading Tutorial Related Posts:MQL4 Course for your Inbox? Click here... How to start your first automated trade in Metatrader in…ImpressumDownload your Trading Automation Environment for freeMQL4 VIDEO BOOTCAMP – Video235 steps to print relevant trading information directly on…MQL4 VIDEO BOOTCAMP – Video9MQL4 VIDEO BOOTCAMP – Video12Get your holy grail system todayBLOGTrading with the devil

If you trade for some time, you might experience some unpleasant things! I was totally happy and started to grow my first real money account. Soon I discovered, that my trading costs were way too high. I needed another broker, so I switched. Then the markets changed and I became afraid and took out the rest of the money at the exact wrong time. That was frustrating! My MQL5 system went out of business on January 16th 2015, the same day when my new british broker (sounds similar to the word Alpaca) declared bankruptcy.Automated Trading Tutorial Related Posts:MQL4 Course for your Inbox? Click here... MQL4 Video Bootcamp 2016 – Intro

MQL4 is good for a lot of things, but there is one thing that it is the best solution for! Have you ever asked yourself, if a small change in your own trading system could improve your trading results? Would you like to know, how your trading system would behave wen you change one simple thing? Here is how to find out about it…Automated Trading Tutorial Related Posts:MQL4 Course for your Inbox? Click here... MQL4 Video Bootcamp 2016 – Intro

MQL4 comes with a few handy things. One of these things is the screenshot function that makes it possible to see exactly how your chart looked when your automated Metatrader4 system opened a trade. And it can be done with a single line of code… https://s3-eu-west-1.amazonaws.com/goldengoosedownloads/CreateScreenShot.ex4 https://s3-eu-west-1.amazonaws.com/goldengoosedownloads/CreateScreenShot.mq4Automated Trading Tutorial Related Posts:MQL4 Course for your Inbox? Click here... MQL4 Video Bootcamp 2016 – Intro

Trading is risky and most Traders lose their money within the first few month It is very easy to start with trading, but most people do not make it through their first year. Why do you think your broker is trying to make you trade bigger amounts all the time? There are several reasons why you should stop doing what you do today…Automated Trading Tutorial Related Posts:MQL4 Course for your Inbox? Click here... MQL4 Video Bootcamp 2016 – Intro

It was in our German MQL4 course when an interesting question about trading entries came up. Would a random entry produce other results? Is a trend following signal dependable better? We wanted to know, so we created an MQL4 System and called it SALT (because of the white netbook). Today SALT has produced amazing results.Automated Trading Tutorial Related Posts:MQL4 Course for your Inbox? Click here... MQL4 Video Bootcamp 2016 – Intro

Good trading should be boring. That is something I had to learn. When I started to deal with that trading thing, I was very excited. My first trade made 16 Cents within 2 minutes and I was in heaven. I had big plans for the next few weeks and I wanted to become the fastest trading millionaire in the world. I mean how easy was that? You only had to do the right thing often enough and cash in the profits – at least I thought so.   So I started to look outkp for a good advisor. But everybody did something else. One guy was all about trend following, the next one said that channel trading was the real thing and another one would swear that gap trading was the thing to do.   And everybody claimed to be very successful and – just for you for a limited time he would make that special offer to buy that All-In-One-Trading-Robot. But you needed to buy today, quick before the last two spots were gone and you would be doomed to cry forever.   Today a member of my German MQL4 course sent me a link to a sales letter where someone was announced to be the “Binary Professor” with over 35 years of trading experience and – of course – the secret weapon to beat the market  worth $3600 – a bargain and just for you!   You can find that same guy on fiverr.com selling faked testimonials. If you pay him $5 he will say whatever you want him to say. He is the leading expert for everything you want to pay for. If you think this is weird, here comes the next example how to rip customers off. If you want to sell your wonder weapon for trading and be right all the time you only have to know the future.   How can that be done? You only have to think big enough. There is an Expert Advisor for sale that is making big profits because the future is always a few seconds late. That might have something to do with the fact that the vendor is his own broker and if you can delay real time courses you can get any system to trade profitable.   Its like winning the lottery by turning back the calendar for a week. You know the future because it already happened.   Another way to predict the future is to split a list of customers each month. These folks buy a customer list and tell one half that the gold price will go up and the other half that the gold price will go down next month.   30 days later they apologize for their wrong prediction and cut of 50 percent from their list. Afterwards theiy repeat the process with the 50 percent that got the right prediction. They only have to repeat this process three or four times and they will be left with a tiny fraction of the former list. But these list members will buy nearly everything after they have gotten three or four correct predictions.   And there is still simple luck. It can last for a while and it might seem to be a very intelligent system, but here is a quote that Jack Bogle made in an interview with Tony Robbins:   “Tony, if you pack 1024 gorillas into a gymnasium, and teach them each to flip a coin, one of them will flip heads ten times in a row.  Most would call that luck, but when that happens in fund buisiness we call him a genius!”   ( from the book “Money Master the Game” by Anthony Robbins, page 97)   I think in the same book they said that it is no problem to create 5 star rated  product on Morning Star if you are simply willing to toss the other 10 that failed. And if you are willing to create 10 new products to have something when the current one tanks…   I believe that you should know these things to protect yourself. If you still want to pay for a solution that promises to make you rich, there are a few questions you could ask yourself.   Is the vendor using the product?   If not, why not? Would you sell something that makes other people rich and not use it yourself?   Is the vendor giving you guarantees?   Do you have a money back guarantee? Most serious companies offer one these days. I d

How predictable is random? Everybody is looking for the perfect trade entry and the most predictable signal.   Some people trade trends and I like trend signals, because a trend is required to make profits anyhow.   Other folks like to trend waves, channels, outbreaks, pivot points or candle patterns.   And they are all convinced that their method can beat random entries. But none of them could tell me how much better “better” is. If I can make 100 Dollars with one of that systems, would that mean I could also make 100 Dollars with a random entry?   Or would a random entry result in a 50 Dollar Profit? Or worse, would random always produce a loss?   I didn’t know and so I did a search on Google. Dr. Van Tharp and Tom Basso came up with a random system that is described as “being profitable” for several years.   And they said in that book (I will include a link in the shownotes: https://www.vantharp.com/products/develop-winning-trading-systems.asp) that it is all about money management.   I thought about that for a while and it still didn’t answer my question. If it was all about money management there should be still a way to find out if a special trade entry system can outperform random entries when I use the exact same money management for both entries.   I have that trend-based Golden Goose System up and running for over a year now and I took a big hit when the EURUSD went downhill from summer 2014 until spring in 2015.   And I was wondering how that system would perform with a random entry, so I simply build a new version of Golden Goose called Salt and another one that was called Pepper.   Today, three month and about 450 trades later SALT is profitable and that means that equity and account balance are higher than the amount of money I put in.   You can check out the system for yourself if you lookup my nickname called “justmyname” on MyFXbook.com.   Three month is almost nothing when it comes to predictable profits and I think when we have a full year of trading results it might be more meaningful, but for now it works – better than expected and even better than my trend-based approach.   Oh, did I mention that the also random-based Trading System Pepper did lose for three month on a consistent basis?   If both systems have the same random entry, how can one system win all the time while the other one loses?   Well, that is easy to explain. Do you know that advice “Let your profits run and keep your losses short?”. One of the systems did that. It closed every trade when it made a 2 Dollar loss.   The other one closed trades when there was a 2 Dollar profit. If you want to find out, which is which, you can go to Myfxbook and analyze all the statistics for the Salt system right away.   I promise you will not regret it…   So after I did that experiment random is predictable for me and I like that random entry system very much.   It is way cooler to tell people that you trade random entries and have good results than to follow any other system.   But I would strongly encourage you to make up your own mind and do your own experiments, because you will get smarter every time.   If you don’t know how to do it, you can join the Golden Goose Course and start to find out with precoded MQL4 modules today… Trading Tutorial Automation was found for:tradingtutorialautomation comAutomated Trading Tutorial Related Posts:MQL4 Course for your Inbox? Click here... MQL4 Video Bootcamp 2016 – Intro

A few weeks ago I did a survey among the Golden Goose course members and I got lots of useful feedback. Some things have been mentioned very often, for example the term “Burned money”. Every trader has burned money in the past I guess. And there are a few things, one can not influence. For example the Euro crash or what central banks decide.   However there are also some awful trading traps that one can avoid easily, once you know them. These traps are the topic we are talking about now, because I think nobody needs to lose money because of them.   Trap 1: trading cost   Often underestimated trading costs are the one thing that can even mean creeping death for a working trading system in the long term.   I fell into this trap myself and have paid unessecary swap fees for a long time, because I thought that cost would be unavoidable.   But far from it, there are definitely good brokers that can exist without swap fees and do only charge for commissions instead. My current main broker does take 7 percent for profits only and that is far, far cheaper than what I had to pay for Swap before.   If you don’t know about the term Swap, it is a fee that most brokers charge for keeping overnight positions. And most brokers claim that these costs are not negotiable.   Indeed most established brokers do offer trading accouns for people that do not want, or are not allowed to pay or gain interest, maybe because of their religion.   Once I knew that, I looked for websites that list and review several brokers. One of these sites is ForexPeaceArmy, another one is Brokerbewertungen.de   Of course there are lots of opinions and reviews on these sites that might be not the absolute truth, maybe because people have lost money and are convinced it was the brokers fault.   But you will find a huge variety of offers listed that you can use for further examination. Here is, what I did.   I was looking for brokers that support automated trading with MQL4, do not have restrictions for my trading style, allow lot sizes of 1 Microlot, do not require big deposits or huge trade volume and are regulated.   The keyword here is MIFID regulation for me, see the definition in the show notes for this episode.   https://en.wikipedia.org/wiki/Markets_in_Financial_Instruments_Directive   That sorts out a lot of that list and I took a closer look at the remaining offers. Doing that, I found some more differences that I had not thought of before. For example if a broker offers demo accounts without restrictions in time or quantity.   I found two further aspects that are useful for automated trading. There is one broker supporting MQL4 and MQL5 and two brokers that offer cent accounts. I do trade real money with both brokers.   I will include these both weblinks in the show notes for this episode on TradingTutorialAutomation.com   https://my.roboforex.com/en/?a=lamu https://www.forextime.com/eu/[email protected]   (Attention: both weblinks are Affiliate links and I will get a commission when a contract is signed. If you want to avoid that, you can also google the websites and get your own picture from that.)   Besides Swap, Spread is another expense factor. Spread is paid when you open a position, because you will always get it a few points behind the current market price. If you are behind more than a few points, your broker might charge you a to hefty Spread.   Another hidden cost trap is transaction cost. Some brokers strike hard as soon as you want to transfer money away from your account. Often the exact bonus offer a broker used to gain new customers does not allow to transfer that money later on in your favour.   Take your time and try several brokers. Check out how the support responds when you ask uncomfortable questions.  In my opinion the time it takes to find your own perfect broker is one of the best investmens you can make.  

PCs are unlike humans. Your PC is totally fine with Bits and Bytes and you can feed it for hours with that kind of data. And it will not quit. But for us humans it needs to be more meaningful than that. That is where descriptions are useful. Such descriptions help us to avoid confusion and to see the whole picture.   For example, in real life one would give somebody hints like “turn right at the red church after the second traffic light”.   If other people would give me only the degree of longitude and latitude instead, I would be pretty helpless.   A description is regulary some text and it might also contain data. Let’s have a look at the example we discussed in the episode about the Comment function. If you have missed that part, you can go straight to TradingTutorialAutomation.com and repeat it.   We have used the following function:   Comment (AccountBalance());   The result was a number that showed up in the upper left corner right on your chart. We will enhance that number with a text in quotation marks that we want to show up in front of it. We seperate both with a comma.   Comment (“Die aktuelle AccountBalance() ist “,AccountBalance());   That kind of text is called a string. If we want to add some additional information, like the equity for example it would be nice if we could see that in a seperate line. That would be better to read.   To get that new line we can also use a string. The backslash on your keyboard followed by the letter N means “New line”.   With it we can now make the lines for Account Balance() and AccountEquity() show up one below the other.   Comment (“My AccountBalance is ”,AccountBalance(), “\n”, “My Equity is“,AccountEquity());   You will find the exact syntax in the show notes for this episode on TradingTutorialAutomation.com.   Oh, one more thing, there are situations when you might want to analyze that data afterwards, for example to check what happened over night. The Metatrader 4 terminal has a tab called journal for that.   If you exchange the Comment() function with the Print() function your trading data will be stored in that trading journal and you can analyze everything later.   Okay, if you have consumed the last three episodes, you can now print out your important trading data like AccountProfit(), AccountBalance(), AccountStopoutLevel() and other useful information directly on your chart. Or you can store that trading data in your automated trading journal and analyze it later.   It doesn’t matter if you trade manually or automated, this kind of information is extemly valuable for every trader, dont you think so?Automated Trading Tutorial Related Posts:MQL4 Course for your Inbox? Click here... MQL4 Video Bootcamp 2016 – Intro