MT4 is a standalone installation trading platform for individual
Forex trader. Anyone can open a trading account with the Forex broker,
download the trading program and install onto the PC. Setup and
configure the broker server and login to your trading account to begin
trading. One of the key features of this trading platform is programming
capabilities, beside able to do charting, store historical price data
and execute trades.Expert Advisor
The core programming language is MQL4 or Metaquotes language 4 is a C program look a like programming language. Its comes with program function structure, variable declaration, operands, conditional checks, calling of technical indicator, time date function, math operations and other features. All files end with MQL format and are editable using the editor that comes with the trading platform. These are commonly call expert advisor and are used to run on MT4 trading account.
Create EABefore you start, you have to code your trading strategy into programming codes MQL and compile with no error. Or you can purchase third party codes and use it to run on your trading account. You need to decide the time frame and open the currency chart of your choice after you login to your Forex trading account.
How to load EA
First you have to copy the MQL file (Expert Advisor) into your MT4 program folder "experts". Then run MT4 and it will automatically compiled the expert advisor and it will appear in your "navigator windows" under the "expert advisor" directory. Simply select the desire expert advisor and move over to your currency chart. (Click and drag). You will see the name of the expert advisor at the top right hand corner of your currency chart. And look out for a smiling face on the right. If you see a cross then you did not enable EA trading.
Enable Expert Advisor
MT4 comes with an option to disable or enable the expert advisor trading on the top middle panel. Click to disable or enable it. You may have to set some parameters at the "tool" tab into "option" menu and go to "Expert Advisor" tab. You will see a list of tick box to select. In more cases, tick "Enable Expect Advisor", tick "Allow live trading", tick "Allow DLL imports" and tick "Allow external experts imports". And leave the box empty for "Disable experts when account changed", empty for "Disable experts when profile change", empty for "Ask manual confirmation" and empty for "Confirm DLL function calls". With the above set up, you should see a smiling face at the top right corner of your currency chart. You call load as many EA you want. My recommendation is limited 8.
Changes to program
If you need to change the expert advisor due to bug or program update, simply click on the name of the expert advisor, choose modify and it will automatically open the metaeditor for you to make changes. Once all changes done, simply compiled the program and it will automatically update the copies that is attached to run on your currency chart.
Source: http://www.bestforexranking.com
source http://www.articlesbase.com/currency-trading-articles/how-to-install-expert-advisor-onto-mt4-forex-trading-5896690.html
This outstanding reference has already taught thousands of traders the
concepts of technical analysis and their application in the futures and
stock markets. Covering the latest developments in computer technology,
technical tools, and indicators, the second edition features new
material on candlestick charting, intermarket relationships, stocks and
stock rotation, plus state-of-the-art examples and figures. From how to
read charts to understanding indicators and the crucial role technical
analysis plays in investing, readers gain a thorough and accessible
overview of the field of technical analysis, with a special emphasis on
futures markets. Revised and expanded for the demands of today's
financial world, this book is essential reading for anyone interested in
tracking and analyzing market behavior.About the Author
John J. Murphy is President of MURPHYMORRIS, Inc., a producer of
interactive educational products for technical analysis. A former
technical analyst for CNBC and director of Merrill Lynch's Technical
Analysis Futures Division, he is the author of The Visual Investor and
Intermarket Technical Analysis.
Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications (New York Institute of Finance) Click here for more amazon customer reviews and rating...
From Publishers Weekly
Douglas, president of the seminar firm Trading Behavior Dynamics,
focuses on the psychology of successful traders. Instead of offering
specific strategies, he advises readers, "The first step on the
road...is to understand and completely accept the psychological
realities of trading." It may be too abstract for some, but given
trading's risks, this book could assist experienced investors willing to
engage in self-reflection. (Jan.)
Copyright 2000 Reed Business Information, Inc.
Copyright 2000 Reed Business Information, Inc.
Review
Douglas explains to the trader just what type of mental mindset is
needed to be a winner in the markets ~ and guides the reader along a
path of self-discovery leading them to higher and sustained trading
results. Global Network Publishers inc.
Trading in the Zone introduces a whole new mental dimension to getting an edge on the market. Use it to leverage the power of the "zone" for unprecedented profit. --New York Institute of Finance/Penguin Publishers
Please note that the audio version of Trading in The Zone is not read by Douglas. This version is read by a professional reader, most importantly, someone who is not a trader or in the investment industry. This is a distinction that may make a difference in your listening experience.
(This review applies to the AUDIO version only.) Please note that the audio version of Trading in The Zone is NOT read by Douglas.
This version is read by a professional reader, most importantly, someone who is NOT a trader or in the investment industry. This is a distinction that may make a difference in your listening experience.
Trading in the Zone introduces a whole new mental dimension to getting an edge on the market. Use it to leverage the power of the "zone" for unprecedented profit. --New York Institute of Finance/Penguin Publishers
Please note that the audio version of Trading in The Zone is not read by Douglas. This version is read by a professional reader, most importantly, someone who is not a trader or in the investment industry. This is a distinction that may make a difference in your listening experience.
(This review applies to the AUDIO version only.) Please note that the audio version of Trading in The Zone is NOT read by Douglas.
This version is read by a professional reader, most importantly, someone who is NOT a trader or in the investment industry. This is a distinction that may make a difference in your listening experience.
From the Inside Flap
Even the most astute, highly motivated,
well-grounded traders can be crippled by counter-productive thinking
that leads to poor decisions and trading errors. They suffer from an
inability to stay objectively focused or lack the necessary confidence
to execute their trades properly. Or they let mental contradictions and
misconceptions about trading or the nature of the market rule their
trades.
In this book the reader will learn that maximizing the trader's state of mind is the key to successful results. Douglas teaches traders to think in terms of probabilities and to adopt the core beliefs necessary to assuming the "winner's mindset." Traders in the "zone" don't need to know ~ and don't care ~ what the market is going to do next. They know what they are going to do next. And that makes all the difference.
In this book the reader will learn that maximizing the trader's state of mind is the key to successful results. Douglas teaches traders to think in terms of probabilities and to adopt the core beliefs necessary to assuming the "winner's mindset." Traders in the "zone" don't need to know ~ and don't care ~ what the market is going to do next. They know what they are going to do next. And that makes all the difference.
From the Back Cover
"Although I consider Mark
a close friend, I still feel privileged to write a review for a book
that has made such a substantial contribution to the development and
success of traders all over the world. Trading in the Zone
is not to be read and placed on the shelf with the rest of the
"trading" books. You'll find like many traders that its place is on
your desk as a companion. And it's not just about trading. Trading in the Zone will also help you approach your daily life in a more positive and insightful manner. I continually recommend to the traders that I mentor to read at least three pages of Trading in the Zone
a day. I've found it has the effect of transforming a person's
thinking in ways that allow them to trade without the kind of fears
that can cause them to make trading errors or generally get in the way
of their own success."
Larry Pesavento
President, TradingTutor.com
Author, Coach, System Developer
"Trading in the Zone is a must read for any serious trader. It offers extensive insights into the development of the professional trader's mindset by giving the reader practical examples of what it takes to think and perform like a consistently successful trader."
Paula T. Webb
President, Path To Fulfillment™ Institute
Author ~ An Independent Prosperity
And more......
Larry Pesavento
President, TradingTutor.com
Author, Coach, System Developer
"Trading in the Zone is a must read for any serious trader. It offers extensive insights into the development of the professional trader's mindset by giving the reader practical examples of what it takes to think and perform like a consistently successful trader."
Paula T. Webb
President, Path To Fulfillment™ Institute
Author ~ An Independent Prosperity
And more......
About the Author
Mark Douglas is also author of "The Disciplined Trader™-Developing Winning Attitudes" published in 1990 and considered an industry classic ~ and one of the first books to introduce the investment industry to the concept of trading psychology. Mark began coaching traders in 1982, and has continued to develop seminar and training programs on trading psychology for the investment industry, as well as individual traders. He has been a frequent speaker at seminars across the world, as well as in the U.S., teaching traders how to become consistently successful. He is currently working on his third book, and can be reached through his website markdouglas.comDouglas uncovers the underlying reasons for lack of consistency and helps traders overcome the ingrained mental habits that cost them money. He takes on the myths of the market and exposes them one by one teaching traders to look beyond random outcomes, to understand the true realities of risk, and to be comfortable with the "probabilities" of market movement that governs all market speculation.
Trading in the Zone: Master the Market with Confidence, Discipline and a Winning Attitude Click here for more amazon customer reviews and rating...
A common denominator among most new traders is that, within six
months of launching their new pursuit, they are out of money and out of
trading. High-Probability Trading softens the impact of this
"trader's tuition," detailing a comprehensive program for weathering
those perilous first months and becoming a profitable trader.
This
no-nonsense book takes a uniquely blunt look at the realities of
trading. Filled with real-life examples and intended for use by both
short- and long-term traders, it explores each aspect of successful
trading.
From the Back Cover
"The Goal Is to Teach All Traders to Think with the Mindset of a Successful Trader..."
While successful trading requires tremendous skill and knowledge, it begins and ends with mindset. What do exceptional traders think when they purchase a quality stock and the price immediately plummets? How do they keep one bad trade from destroying their confidence--and bankroll? What do they know that the rest of us don't?
"Some trades are not worth the risk and should never be done."
High Probability Trading shows you how to trade only when the odds are in your favor. From descriptions of the software and equipment an exceptional trader needs to high probability signals that either a top or bottom has been reached, it is today's most complete guidebook to thinking like an exceptional trader--every day, on every trade.
"It's not how good you are at one individual thing, but it's the culmination of every aspect of trading that makes one successful."
Before he became a successful trader, Marcel Link spent years wading from one system to the next, using trial and error to figure out what worked, what didn't, and why. In High Probability Trading, Link reveals the steps he took to become a consistent, patient, and winning trader--by learning what to watch for, what to watch out for, and what to do to make each trade a high probability trade.
"Why do a select few traders repeatedly make money while the masses lose? What do bad traders do that good traders avoid, and what do winning traders do that is different? Throughout this book I will detail how successful traders behave differently and consistently make money by making high probability trades and avoiding common pitfalls..."--From the preface
Within 6 months of beginning their careers full of promise and hope, most traders are literally out of money and out of trading. High Probability Trading reduces the likelihood that you will have to pay this "traders' tuition," by detailing a market-proven program for weathering those first few months and becoming a profitable trader from the beginning.
Combining a uniquely blunt look at the realities of trading with examples, charts, and case studies detailing actual hits and misses of both short- and long-term traders, this straightforward guidebook discusses:
While it is a cliché, it is also true that there are no bad traders, only bad trades. Let High Probability Trading show you how to weed the bad trades from your trading day by helping you see them before they occur. Packed with charts, trading tips, and questions traders should be asking themselves, plus real examples of traders in every market situation, this powerful book will first give you the knowledge and tools you need to tame the markets and then show you how to meld them seamlessly into a customized trading program--one that will help you join the ranks of elite traders and increase your probability of success on every trade.
While successful trading requires tremendous skill and knowledge, it begins and ends with mindset. What do exceptional traders think when they purchase a quality stock and the price immediately plummets? How do they keep one bad trade from destroying their confidence--and bankroll? What do they know that the rest of us don't?
"Some trades are not worth the risk and should never be done."
High Probability Trading shows you how to trade only when the odds are in your favor. From descriptions of the software and equipment an exceptional trader needs to high probability signals that either a top or bottom has been reached, it is today's most complete guidebook to thinking like an exceptional trader--every day, on every trade.
"It's not how good you are at one individual thing, but it's the culmination of every aspect of trading that makes one successful."
Before he became a successful trader, Marcel Link spent years wading from one system to the next, using trial and error to figure out what worked, what didn't, and why. In High Probability Trading, Link reveals the steps he took to become a consistent, patient, and winning trader--by learning what to watch for, what to watch out for, and what to do to make each trade a high probability trade.
"Why do a select few traders repeatedly make money while the masses lose? What do bad traders do that good traders avoid, and what do winning traders do that is different? Throughout this book I will detail how successful traders behave differently and consistently make money by making high probability trades and avoiding common pitfalls..."--From the preface
Within 6 months of beginning their careers full of promise and hope, most traders are literally out of money and out of trading. High Probability Trading reduces the likelihood that you will have to pay this "traders' tuition," by detailing a market-proven program for weathering those first few months and becoming a profitable trader from the beginning.
Combining a uniquely blunt look at the realities of trading with examples, charts, and case studies detailing actual hits and misses of both short- and long-term traders, this straightforward guidebook discusses:
- The 10 consistent attributes of a successful trader, and how to make them work for you
- Strategies for controlling emotions in the heat of trading battle
- Technical analysis methods for identifying trends, breakouts, reversals, and more
- Market-tested signals for consistently improving the timing of entry and exit points
- How to "trade the news"--and understand when the market has already discounted it
- Learning how to get out of a bad trade before it can hurt you
While it is a cliché, it is also true that there are no bad traders, only bad trades. Let High Probability Trading show you how to weed the bad trades from your trading day by helping you see them before they occur. Packed with charts, trading tips, and questions traders should be asking themselves, plus real examples of traders in every market situation, this powerful book will first give you the knowledge and tools you need to tame the markets and then show you how to meld them seamlessly into a customized trading program--one that will help you join the ranks of elite traders and increase your probability of success on every trade.
About the Author
Marcel Link has been trading professionally since 1991. He
is the founder of linkfutures.com and is a TradeStation consultant.
Linkfutures.com serves the trading community with daily commentary on
the markets, along with insights into technical analysis, training,
marketing, and other information that can be vital to traders. Link can
be reached for questions or comments at marcel@linkfutures.com
High Probability trading Click here for more amazon customer reviews and rating...
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