Not showing your Stop Loss and Take Profit value to broker is fairly easy no matter what trading platform you are using. Simply you just do not set SL/TP values and no one will see it. Broker will not know about it and you can manually close the trade whenever you want. Broker will not know where your stop loss level is and they will not be able to “hunt” it. However, you won’t be able to watch after your trades 24 hours a day and this is where you need help from a special MetaTrader 4 app.
Over the last few years I have received and answered literally thousands of emails to my customers and one of the most interesting questions I get was this.
My BUY trade was triggered without price reaching the buy line or pending order. What would cause a trade to trigger early and how I can avoid it?
This is actually just a simple misunderstanding, but I found that a lot of people do not know about this, so I feel obliged to explain this.
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.
Procrastination? Ohhh, I know this feeling so well it even hurts to write these words. Procrastination is one of the biggest problems in the world when we speak about achieving goals and checking items from our to-do lists in any area of our lives. No difference in Forex. There are so many things to learn, yet not all of them are effective and useful. Some might even hurt your knowledge.
*** 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.
Forex traders always debate which trading method is better: is it trading the financial markets manually or is it better to use trading robots?
Many people might be very stubborn about this regardless on which side they choose, so before I give you the pros and cons of a human trader and a trading robot let me give you few words about the robots as a big picture.
Candlestick trading is not something that I am actively involved with. My personal style of trading is more based upon price breakouts or using various combinations of indicators in trading robots. But there are tons of traders out there who trade and swear by these price patterns. Let’s take a look at many of the most common patterns and see how we can use them in our day-to-day trading to find better entry points.
In this article you will learn how to read candlestick charts in Forex trading.
As traders, we are forced to rely upon Forex brokers to be able to trade. Without them we would have no way of placing orders and no way of earning money. The trouble is that there are some bad brokers out there in the world, and likely there are more bad brokers than there are good forex brokers. You need to carefully evaluate and sort through several different brokers to find the right one sometimes.
If you have been in Forex for any amount of time then you know how very difficult trading can be. Some people have an easier time at it than others, but it is reported and rumored that 95% of traders fail to make money. This means that 95% of traders are losing money on a consistent basis. Some traders even get to the point of breaking even, but usually are not able to go ahead. They’ll have winning trades and losing trades, and oftentimes the losing trades will outnumber the winning trades leaving them with a net loss in the end.
The Forex market is a commercial world of interesting possibilities. Currencies worth trillions of dollars are traded every day. It is also turning out to be a sector which attracts a lot of entrepreneurs with Forex business dreams. The currency trading market promises fast bucks in a short time. It is not necessary to be a trader to begin a Forex based business. In fact, the only skill you need to possess is an enterprising spirit and a calculated business plan. Having trading experience will indeed help you if you are going to form one of the related forex trading businesses, but even so this is not entirely necessary.