Meta Trader 4 – Forex Trading Platform

Metatrader 4 is the most popular forex trading platform currently available. The platform connects thousands of traders around the world to the forex market and the forth edition has quickly gained recognition as the premier forex platform. MetaTrader 4 is developed by the company MetaQuotes, which also delivers the real time data feed and market prices. The choice of both professionals and amateurs alike, Metatrader offers a secure, stable and advanced connection to the forex interbank market.

MetaTrader is a very efficient and stable platform and has a track record of less than 1% downtime due to loss of connection or technical problems. This allows the forex trader to feel comfortable that technical issues will not interfere with trading.

The Metatrader platform has all the functions that a forex trader could wish for, yet the platform never feels confusing or clustered and the interface is intuitive and easy to get hang of, even for beginners.

Metatrader has in it’s new edition added usability for handheld devices such as PDA’s and Palm pilots.

The real time market price data in MetaTrader comes from the live data stream from MetaQuotes and is updated immediately, which means no lag and perfect conditions even when heavy trading is taking place. This is a clear advantage over those platforms which rely on data from brokers, as you can be sure that you are looking at the same price data that the rest of the world is looking at.

MetaTrader is most commonly used as a forex trading platform, but is not exclusive used for this purpose. It’s also used to trade derivatives such as CFD’s, futures, options and even stocks. More than 100 brokers currently use MetaTrader as their platform.

What really sets MetaTrader apart from other platforms is the advanced charting software, which has nice detailed graphs and graphics and is second to none.

Another advantage is that most forex software, such as signals and robots are designed and written exclusively for this platform, as MetaTrader has it’s own macro programming code, which has an active community that has developed many interesting applications.

Traders that prefer forex expert advisors or other automated forex trading systems, will be pleased that there is an abundance of choice of forex EA’s and robots developed for the MetaTrader platform. As the code is readily available, there are constantly new robots being made and an open source EA project, where members strive to improve upon the original EA’s.

In conclusion, MetaTrader is the best choice for any serious forex trader. The interface, the community, the customization options all enable forex traders to trade as profitable as possible.

FAP Turbo Review & Discount

FAP Turbo is a forex robot developed by Steve Carletti as a joint venture with Forex Guru Marcus B. Leary. The two of them teamed up with a group of expert MetaTrader programmers to develop the most successful forex robot ever. That’s what they claim at least. FAP Turbo certainly is the best selling forex robot on the market. FAP Turbo is a forex expert advisor that trades on the MetaTrader platform. MetaTrader 4 is the standard forex trading platform and has a wide support base. FAP Turbo incidentally also has a very active forum and support group.

I have used the FAP Turbo robot for over 4 months now, so I feel that I know enough about it to make a fair review. Actually, in this time period I have tried several other forex systems and robots, so being the healthy skeptic, I have been able to do some serious comparison. There’s always a lot of hype around these forex robots, because it’s a very competitive market. They all market themselves as ‘the best ever’ and so on. Most of the also claim to be ready to go with the press of a button, when they actually require quite a lot of tweaking to perform optimally.

Let’s have a look at how FAP Turbo lives up to the hype and what set’s it apart from the the other robots out there.

Most forex robots that I have seen perform very well based on historical prices. This means that they are developed and tested using stock data from the past. While it’s necessary to perform this type of backtesting, it doesn’t really prove anything in terms of how it actually trades in the current market. It only proves that it could have been successful.

Well, FAP Turbo has been under intense scrutiny because of the many sales and it’s therefore a little easier to dig up actual performance data. With FAP Turbo there is literally an army of FAP Turbo fans, that has made profits with the robot. I made money too.

I’ve heard some complaints about how the FAP Turbo is supposed to be to difficult for beginners to use, but I don’t agree. I do think that you will get better results if you go trough the material on the website and participate in the forex.

I also recommend the scalping strategy setting over the position trader setting, as the scalper setting seems to be the best of the two.

I only deposited $1500 in the beginning to use for this test. I did not have any experience with FAP Turbo, so I didn’t want to risk too much upfront. One month later I was up to $2987. Needless to say, this was a very good result, so I continued to run it. The later months have not been quite as good in terms of return on investment percentage wise, but it’s still ahead of the other robots I tried. I suggest you visit their website for more information.

Automated Forex Trading Software

Automated forex trading software and forex trading robots has been the talk of the town among forex traders in recent years. While automated forex trading software has been available to the large banks and hedgefunds for many years, it’s only with the fast growth in processing power in home computers, that they have become available to the general public. Forex robots have been used by institutional traders for years to crunch numbers and provide signals to traders. These robots used to require stand alone servers and very fast computers, but now, it’s possible to get the same results with automated forex software running on your pc or laptop. The price has gone down considerably as well from several thousand dollars to only a few hundred tops and some are even cheaper.

The influx of forex robots and other automated forex trading software has led to much debate among traders on how effective they are. Older more traditional traders that have grown up in the old school of forex trading have been less than enthusiastic about them. They claim, with some truth, that there’s no replacement for human knowledge and experience and that they can outperform them consistently. I believe there’s some truth to that, but I also realize that these professional traders didn’t get those results overnight. In truth they probably spent many years before they were profitable and that most banks and institutions employ tens or even hundreds of junior employees to crunch the numbers and do the analysis for the trader. For people that don’t have access to these resources, automated forex trading software is as good as it gets. Today, there is a whole new generation of forex traders that make money. They are young and not generally educated in a bank. They trade forex from their laptops and take full advantage of what technology has to offer.

This is why forex robots are worth looking into for private traders. With these types of software you get the same analysis that the pro’s do, but at a fraction of the cost of hiring 10 business school students. Forex robots have the benefit of being able to calculate numbers much faster than any human. This means that you will get the signals on time every time. Forex software has recently evolved to a level where it can now actually carry out the trades as well. Most robots use the MetaTrader 4 platform for this. This makes them almost turnkey, you download the robot, install it and then simply press a key and forget about it. Then check back next day to see how much money you made.

Forex robots have one big advantage over any human trader: They don’t have emotions! They do not get greedy or scared. They do not make irrational decisions or try to win back what’s lost on bad trade right away.

You should do research though before handing over your money for any forex robots as they vary a great deal in strategy and profitability. Some are very good and others are just lackluster. Check out the reviews on this page for inspiration.

Forex Robot Trading

Forex robot trading is a trading method that uses advanced automated forex trading systems to trade without any involvement from the trader. Many new forex traders are curious about forex robot trading, not least because of the hype surrounding new releases. Every time a new robot is launched, the internet runs wild with hype and everyone is anxious to get their hands on the newest sure thing. Some robots live up to the hype and others does not. But how can you actually make money with forex robot trading?

First of all, let’s talk about how you make money form forex trading. Forex trading covers the exchange of currency pairs such as USD/EUR, forex options and forex futures. Every time someone changes one currency into another they participate in the forex market. In essence, forex trading is no different than trading stocks or bonds and in some ways is actually easier to learn. All forex is traded on the Interbank market which is the internal bank market. To trade on the Interbank market, a trader must gain access to it by using a forex broker. Forex brokers are intermediaries between the trader and the market and offer a platform to trade on. The vast majority of forex brokers use a platform called Meta Trader 4 and this is where forex robot trading comes in.

The Meta Trader 4 platform is a small work of genius in the world of trading. The platform has it’s own development language that traders can use to develop applications and macros. Forex robots are pieces of software developed by expert traders and software programmers to trade automatically on the forex market. The way it works is that the forex robot receive the forex rate data from a feed from Meta Trader. The robot then analyses this data and uses different types of technical analysis to determine if a trade should be made. The process is exactly the same as when a human trades, but the forex robot has some notable advantages. Forex robots can analyze date much faster than any human trader, which means the robot can look for profitable trades and run trough thousands of scenarios before you could even think about executing a trade. Think of a forex robot like you would of a very advanced chess robot. Today, there is no doubt that the Deep Blue chess robot for example, is a better chess player than even the very best. The same is true with a robot. There may be forex traders with years of experience that can consistently outperform a robot, but for most traders, they are up against too much processing power.

This is of course true only for good forex robots. There is a lot of junk out there, so be careful to do your research before you buy. I have included some reviews of forex robots on this site. They are all robots that have been tested over at least one month and all have made money.

Metatrader 4 Scripts – Free Expert Advisors

Automated Currency Trading. Automated FX trading may seem highly appealing. The thought of just having an automated strategy consistently making you excellent returns on your money does sound fantastic. However, This is usually not the case in practice.

Automated Forex Trading Software. The most commonly used automatic trading program is metatrader 4. This software is offered by many currency trading brokerages as their main platform. It is a very user friendly and easy to use trading platform. The platform provides indepth charts, comprehensive technical analysis tools (including, trend lines, fibonacci retracement lines, techincal indicators, candlestick patterns etc) MetaTrader 4 can be downloaded free at //www.metaquotes.net/

Forex Expert Advisors. Forex Expert advisors are automated scripts designed to run on the Metatrader 4 platform. The script contains a pre-defined FX strategy. The entries and exits for these strategies can be be based on a number of factors such as moving average crossovers, indicator readings, defined support/resistance points being broken etc. If you wish to make a custom metatrader 4 expert advisor, you will need to have some programming knowledge. However, if you don’t, it’s not a problem, but you will have to find a programmer to code it for you.

Automated Forex Trading Systems:

  • Fozzy EA This is great free expert advisor for the fozzy script. It is an RSI crossover strategy best used on the daily chart. There is a comprehensive ebook on the fozzy strategy avaliable for download here.
  • Hans 123 This is an automated day trading system. The full instructions are included in the zip file.

More strategies will be added in the future.

Online Automated Trading has many possibilities, but the truth is there are a very large number of these Expert Advisor scripts available for free download. The reality most of them will be negative at the end of the year. It is a essential to try an automated trading system on a demo account for a considerable amount of time before trying it live. It is also essential to have a reliable internet connection and PC. How annoying would it be if you missed out on a trade because your internet connection died? Most forms of automated forex trading have the scripts on your PC rather than on the server side.

A final tip is to never buy an automated forex trading system. There are many clever marketers out there making unrealistic claims about how good their automated system is. If it was so good, they would be using it to make money, instead of spending their time and efforts on clever marketing!

Forex Currency Trading Software

The last lesson discussed what to look for in forex trading software. This lesson goes into a bit more detail on types of software, and then gives some examples of available packages.

There are two basic types of software trading programs. The first type allows you to download market price data to perform technical analysis. You evaluate the charts and make your own buying and selling decisions. This is the most commonly used type of trading software.

Automated Forex Trading Software

The second type of software is automated trading software that makes trading decisions for you. All you do is execute the trades that the software tells you to execute. Some packages even automatically execute the trades.

Within this category of automated trading software there are two sub categories:

  • Toolbox or White Box programs explain to you the reasons behind the trades and many will let you adjust the decision-making parameters the software uses to make those trading decisions. When those features are available you can custom-design your own trading system.
  • Black Box programs make trading decisions without exposing the reason or logic behind those decisions. This puts you at the mercy of the software developer and the trading expert who created the trading rules. While many people have reported overall good results with black box programs, you have to be willing to make a leap of faith every time a trade signal is generated.

TradeRobot, a software company based in Anguilla, British West Indies, offers a selection of both black and white box programs. Depending upon the product chosen, you can either program in your own trading rules and then let the software take over from there, or use their pre-programmed version that makes all of the trading decisions automatically using its own internal logic.

The advantage of these so-called “robot” trading systems is that they remove all fear and greed from trading. These advantages do not come cheaply, however. TradeRobot packages start at $500 and top put at $997. These are registration fees only. There are also monthly subscription charges as well as round-trip commissions per trade.

Fabrefactum, a Philadelphia, USA-based company offers a product called PowerBot, a white box trade execution program that offers you the ability to program in your own trading logic. PowerBot sells for $699 with no ongoing or commission fees.

When it comes to conventional forex day trading software, TradeStation is the hands-down leader. It includes a robust backtesting system that enables you create trading scenarios and systems against up to 20 years of real intra-day market data. It then shows you how your trades would have gone so you can fine-tune your strategy.

Once you have established your strategy, TradeStation’s sophisticated trading algorithms automatically identify trading opportunities that match your trading strategy by monitoring the market in real-time, tick-by-tick. Then it automatically generates both your entry and exit orders. As powerful and automated as TradeStation is, it is willing to step aside and let you use its manual trading features without losing access to its rich suite of charting and technical analysis tools.

While there are low commission charges if you are trading equities, futures or options, forex trades are free. The system is web-based and comes with a free 30-day trial. They have a continuing free membership level for light traders, and standard subscriptions are $99 per month.

Although TradeStation is the industry leader, some traders prefer to use WealthLab or Metastock.

WealthLab comes with the standard trading software features that you would expect, but it has an additional backtesting feature that others lack. Two features, actually. First, WealthLab users are able to access a database of over 1,000 trading systems to see which ones performed the best. They can import a system directly into their WealthLab profile and the software will execute trades using that system.

The other feature that WealthLab is particularly proud of, and which it claims sets it apart from all competitors, is the fact that when you do scan those systems, or when you create your own backtesting scenarios, you can test against actual portfolios. This means that your trading system can be built and tested against actual currencies in your portfolio.

WealthLab runs on your PC. It’s available ONLY to customers outside of the U.S. and Canada only from the WealthLab web site where it sells for $650. U.S. and Canadian residents can get a copy of WealthLab through Fidelity Investments.

Metastock is also PC-based. Its leading feature is that it is specially suited for performing technical analysis. It comes pre-loaded with 120 built-in technical indicators that make it easy to analyze how the market is moving. You can easily drag and drop any of these indicators into a chart and create your own trading system that’s 100% customized to your needs. The current version sells for $449 plus subscription fees for any data feeds that you want.

Before you choose any software trading platforms, do your due diligence. Take advantage of any free trial offers, ask your friends and associates what they’re using, read independent reviews (not sales documents) and visit each product’s web site.

Selecting a Currency Trading Platform

With so many forex brokers offering their own fx trading platform, why should you even consider using your own trading software?

Good question.

The Forex can be a volatile market where prices swing wildly on a moment’s notice or with no notice at all. Reaction times need to be swift in order to make profits or avoid losses. Just as frequently, price moves are gradual and they can often be accurately forecast if you have the right tools available to you. Trading software provides those tools.

There is a seemingly endless supply of free forex trading software. Every one of them claims to be the best and, of course, that can’t be true. But how do you decide which one is best for you and whether or not you should choose a desktop platform or connect to the web?

A lot of new traders will simply use the online trading platform that comes with their brokerage account. The upside of that decision is that those packages are usually free, or at least the basic packages are. You may have to upgrade to a paid version if you want to unlock some of the more advanced features that the free versions keep away from you.

Broker fx software software may be a good choice when you are starting out; but once you get more involved in FX trading, you’re going to want the heavy-duty power and features that only the best independent trading packages can offer.

Regardless of whether you opt to download a trading platform, or you go for a web-based one, the speed of your Internet connection is a big factor. Desktop systems are going to have to pull down pricing data and push up your trade executions very quickly. The speed of your Internet connection will be the major factor here. Forget dial-up and go for the fastest broadband connection that you can afford.

Mini Forex Trading Platform

A mini forex trading platform is where you are able to trade mini lots as apposed to standard sized lots. A mini position is 10,000 of the currency you are purchasing. This is one tenth of the size of a standard lot.

Low Spread Forex Trading Platform

A low spread trading platform can have a significant effect on your overall profits at the end of the months. The lower the spread the more profit for you. However, the execution is equally important.

The biggest advantage that all good fx trading software offers is the ability to manage and execute your trades while providing access to pricing data and charting capabilities. These two items alone will give you a marked advantage over any trader who is trying to go it manually.

Before you go off looking for the best forex trading platform you should have a realistic expectation of what that software is going to do for you and what the most valuable features of a good trading program are.