Hi, Rimantas Petrauskas here. Forex trader and a programmer with 16 years of experience.
There is this saying among Forex traders “The trend is your friend until it bends”. I assume this means that when you are in a trade and the trend reverses you get into drawdown and that’s where things get messy.
But what if you enter the market only in the direction of the trend and only if it shows you signs that it will continue to go that way? In other words you would not enter the market if the price reversed and did not go in the same direction.
In this video I am going to show you how you can re-enter the market in the direction of the trend after a pullback and also how you can program your MT4 platform to do this for you.
*** Video Transcript ***
Hey, it’s Rimantas Petrauskas here and in this video I wanted to explain to you how to use range bouncing strategies to trade forex. You can do this manually or with the help of a special tool called the Stealth EA.
I will demonstrate you how I use this tool to trade range bound markets, what price levels I use, the benefits of hidden pending orders and why using semi-automated trading tools can give you more sleep or free time.
Have you spent hours trawling signal forums for advice on the “must have” trading tools to support your Forex trading?
Have you signed up to trial after trial of software that promised the earth but was only ever as clear as mud?
Like you, I’ve been in this situation many a time before so I thought it was time to get to the bottom of it. And instead of writing up countless reviews on the plethora of trading tools available to professionals and amateurs alike, I thought it best to go straight to the front lines.
I emailed 100 top Forex traders I could find on Google and Twitter and posed them this simple question:
“If you could only use 3 tools for Forex trading, which 3 would you choose?”
Having a software that can copy orders and trades among multiple MT4 accounts is great, but if it cannot tweak those orders it may not be that useful after all. In a lot of cases a professional or even the average Forex trader will need to adjust the stop loss or take profit level. Have you ever needed this?
The Local Trade Copier v2.1 is the first account copier for Metatrader 4 that allows the filtering of trading signals by using external indicators or Global Variables (GV). If you ever wonder if you can make your trade copier software skip the long positions (buy trades) when a market price is below a Moving Average indicator then the new features in the LTC are exactly what you need. Any MT4 indicator can be turned into a LTC “trade filter indicator” and you can even use this option in your own software in order to control the trade copier.
The Local Trade Copier v2.1 is the first account mirroring software that allows for the filtering of trades by time using on-screen rectangle objects. I call them “time range filters”. The time range is specified by drawing a rectangle object on the chart, this can be applied to both the master and the slave side. If you ever wanted to configure your trade copier program to not send or not receive any trades during a specified time period like during economic news releases, this is the feature you need. Any number of time ranges can be created on the master and slave accounts allowing you to avoid the copying of trades during any time of the trading day.