By James Woolley
New people enter the forex trading industry every single day, often as individual traders who attempt to generate profits all by themselves. The trouble is that even highly experienced traders often find it difficult to turn a profit, so the novice trader has very little chance of making money in the long run.
There are always some exceptions. I know several traders in the UK who earn either a full-time or a part-time income from trading the currency markets. However as forex firms can themselves testify, the majority of traders end up losing money in the end.
It is for this very reason that more and more people are giving control of their money to other more experienced traders, in the hope that they will make a better fist of it than they can. This sounds like a risky strategy but right now in 2012 it can be a viable way to generate consistent returns if you know what you are doing.
Unless you have the privilege of knowing a profitable trader yourself, you can go down this path by making use of third party signal providers. These come in a few different forms.
There are the old fashioned providers who operate on a subscription basis. In other words you pay a monthly fee, and in return they will send you signals to open and close positions (hopefully for a profit) in real time. The drawback is that you still have to actually place the trades yourself, which can be quite an inconvenience if you are in full-time employment.
The other option is to hand over complete control to another trader (or group of traders) and let them enter and exit positions on your behalf based on their own signals. Many people are choosing this option right now because there are now some very good websites that have made all this possible.
They work by bringing together signal providers and signal subscribers, and both groups of people (along with the host website) have the potential to make some excellent returns.
It all depends on the ability of the signal providers of course, but if you manage to choose the right ones after doing lots of research, there is no reason why you cannot make long term profits from third party forex traders.
It is certainly a lot easier to do your research based on past results and pick out the genuinely profitable traders who generate solid returns without taking adverse risks, than it is to try and make money using your own strategies. Many people try doing this but ultimately fail, which is why third party signal providers are only going to become more and more popular in the coming years.
James Woolley is the owner of theforexarticles.com. Here you will find Marketclub reviews, as well as a full review of the Zulutrade signals website at http://theforexarticles.com/zulutrade-review/.
Article Source: http://EzineArticles.com/?expert=James_Woolley
http://EzineArticles.com/?Why-Forex-Traders-Often-Switch-To-Third-Party-Signal-Providers&id=7253657
Tuesday, 13 November 2012
Monday, 12 November 2012
Linked Forex Trading Broker Accounts to Good Forex Traders: Financial and Risk Factors
By Alex Du Plooy
These days many busy Forex traders are linking their Forex broker accounts to Forex accounts traded by good Forex traders. They are often too busy to trade themselves and therefore would rather have the experts trade their account. These linked Forex accounts can be done in many ways such as using a formal account linking organisation such as Zulutrade or by using a VPS account linking service. Before linking your Forex trading broker account you need to do some financial feasibility and risk investigations before committing to such a service.
Firstly evaluate the costs compared to the balance of your account. If you are paying eighty dollars a month for signals and twenty dollars a month for the linking fee your total monthly cost is one hundred dollars. If however you are only using an account of one thousand dollar it means that you will have to make a return of ten percent per month to breakeven. This is clearly this has low financial feasibility. If your account balance is ten thousand dollars you would only have to make a return of one percent to breakeven. This is much more acceptable.
Many linked Forex trading broker accounts opportunities allow you to set the amount or percentage risked per trade. From a financial risk perspective you should risk very small amounts or percentages initially until you are happy about the performance generated. Once you are happy about the Forex trading of your successful traders you can gradually increase the percentage risked over time.
The percentage drawdown calculation is one very often overlooked by investors. This is the maximum loss incurred during the biggest losing streak as a percentage of the capital prior to the losing streak. This will give you an idea of the risks involved and guide you as to what a safe percentage to risk per trade should be. The success rate achieved by good Forex traders is often a statistic used and abused in the marketing process and misunderstood by investors. A high success rate is not a guarantee of financial success if a trader has a ninety percent success rate and financially losses more the ten percent of the time when loses are made. Therefore be very aware of the size of losses incurred or potential size of losses that can be incurred.
You should take your time and be thorough when evaluating potential Forex account linking opportunities.
Alex du Plooy is a partner and trader at at the online Forex trading company Expert4x.com. He provides articles, videos, free and paid forex course and tools, live trading and training webinars. details of these can be found at his Blog at Expert-4x or at on the website at Forex Trading Alerts
Article Source: http://EzineArticles.com/?expert=Alex_Du_Plooy
http://EzineArticles.com/?Linked-Forex-Trading-Broker-Accounts-to-Good-Forex-Traders:-Financial-and-Risk-Factors&id=6625336
These days many busy Forex traders are linking their Forex broker accounts to Forex accounts traded by good Forex traders. They are often too busy to trade themselves and therefore would rather have the experts trade their account. These linked Forex accounts can be done in many ways such as using a formal account linking organisation such as Zulutrade or by using a VPS account linking service. Before linking your Forex trading broker account you need to do some financial feasibility and risk investigations before committing to such a service.
Firstly evaluate the costs compared to the balance of your account. If you are paying eighty dollars a month for signals and twenty dollars a month for the linking fee your total monthly cost is one hundred dollars. If however you are only using an account of one thousand dollar it means that you will have to make a return of ten percent per month to breakeven. This is clearly this has low financial feasibility. If your account balance is ten thousand dollars you would only have to make a return of one percent to breakeven. This is much more acceptable.
Many linked Forex trading broker accounts opportunities allow you to set the amount or percentage risked per trade. From a financial risk perspective you should risk very small amounts or percentages initially until you are happy about the performance generated. Once you are happy about the Forex trading of your successful traders you can gradually increase the percentage risked over time.
The percentage drawdown calculation is one very often overlooked by investors. This is the maximum loss incurred during the biggest losing streak as a percentage of the capital prior to the losing streak. This will give you an idea of the risks involved and guide you as to what a safe percentage to risk per trade should be. The success rate achieved by good Forex traders is often a statistic used and abused in the marketing process and misunderstood by investors. A high success rate is not a guarantee of financial success if a trader has a ninety percent success rate and financially losses more the ten percent of the time when loses are made. Therefore be very aware of the size of losses incurred or potential size of losses that can be incurred.
You should take your time and be thorough when evaluating potential Forex account linking opportunities.
Alex du Plooy is a partner and trader at at the online Forex trading company Expert4x.com. He provides articles, videos, free and paid forex course and tools, live trading and training webinars. details of these can be found at his Blog at Expert-4x or at on the website at Forex Trading Alerts
Article Source: http://EzineArticles.com/?expert=Alex_Du_Plooy
http://EzineArticles.com/?Linked-Forex-Trading-Broker-Accounts-to-Good-Forex-Traders:-Financial-and-Risk-Factors&id=6625336
Sunday, 11 November 2012
Auto-Trading Using Zulu Trade - The Merits and Demerits You Must Know
By Matthew John
ZuluTrade is developed to allow automatic execution of Forex trades signals. Its trade robot handles the execution of various trade signals that are offered by different Forex signal providers in the market. ZuluTrade was founded in 2007 and has significantly grown with operations in different parts of the world. It is currently headquartered in Athens, Greece and has other branch offices in Hong Kong, New York, and Shanghai. Currently it has more than 15,000 trading clients registered with its online trading network and is executing trades in approximately 183. Using ZuluTrade auto-trade is simple and free.
Merits Of Using ZuluTrade Auto-Trade
1. Automated Forex Trading
ZuluTrade is developed to effectively combine online Forex trading with other social aspects that allows the trader to easily trade trades and success rates. The auto-trade also allows the online currency trader to automatically mimic preferred trades so that they easily take advantage of other experts' strategies from 60 Forex brokers worldwide. The auto-trader has a chance to choose by himself which signal providers or experts to follow. ZuluTrade auto-executes transactions for free once the trader has selected the provider signal.
2. User Interface
ZuluTrade provide the best trading interface. They provide a page where their registered auto-traders can formulate and compile their portfolio. The auto-trader can add multiple signal providers to auto-trade their Forex account. You can also configure many aspects on the user interface including portfolio and various other parameters from the signal providers selected. These including setting risk limits, different multipliers, stop loss targets etc.
3. Risk Management
Another benefit of ZuluTrade free auto-trade is that they offer useful functions for money management and risk control. ZuluTrade has developed a tool known as "Margin-Call-o-Meter" to protect their registered clients from margin call effects. This is a very important tool that you should not neglect. Clients who avoid this tool taking up much leverage ends up making losses. Such auto-traders end up making huge sums of money.
4. AAAFX - ZuluTrade Integrated Broker
ZuluTrade integrates with AAAFX that offers many advantages to Forex their auto-traders. First, AAAFX offers the lowest possible slippage amongst other signal providers. Always they are among the top 3 brokers offering lowest slippage. This allows you to closely mirror the performance of your trades. Less slippage also allows you to have more pips in your pocket which you can take advantage of any time.
5. Free Accounts Management
ZuluTrade offers free account management. The auto-trader is only required to select a signal provider. The ZuluTrade will actually execute all the transactions on behalf of the trader free of charge. They offer this service to trader who matches the signal provider's activity irrespective of the brokerage which holds the trader's account. In addition, ZuluTrade require no third-party wire transfers and no minimum capital investments. All funds are held by the trader's brokerage account.
Demerits Of Using ZuluTrade Auto-Trade
1. Riding On Someone Else's Trading Skills
Of course this is the greatest ZuluTrade strength which also turns out to be its greatest weakness. ZuluTrade is developed to help the trader ride on experts' skills. This is a big risk when you consider that anyone can become a signal provider. This can lead to poor quality trading system on the website making traders abandon many trading systems.
2. No System In Place To Filter Signal Providers
ZuluTrade relies on several signal providers some of which are inactive. Unfortunately, there is no method in place to filter out inactive and abandoned signal providers. They remain littering the site for nothing. Even some profitable signal providers do crash and burn due to high-risk strategy thus need to be removed from the website.
3. Inconsistent Opening And Closing Operations
Many ZuluTrade auto-trade clients complain of inconstant operations in opening and closing orders especially in America. This is due to the new regulation being enforced by NFA FIFO. The new regulation prevents the trader from closing the second open operation when the first one is still open.
Conclusion
Despite these few demerits, ZuluTrade still remains the best that you can use to execute your trades even when asleep. I would say no broker is perfect and everyone has their own weaknesses. There are plenty of outstanding trading opportunities that ZuluTrade provides. By being careful with signal provider selection and practicing due diligence, you can make loads of cash while asleep using ZuluTrade free auto-trade account.
Utilizing ZuluTrade could be beneficial if used correctly with the right broker. See the details of one of the best brokers that registered in ZuluTrade at AAAFx review. If you rather having EA as your auto-trading means, I'd suggest you check out the recommended ones at best forex robot.
Article Source: http://EzineArticles.com/?expert=Matthew_John
http://EzineArticles.com/?Auto-Trading-Using-Zulu-Trade---The-Merits-and-Demerits-You-Must-Know&id=6611355
ZuluTrade is developed to allow automatic execution of Forex trades signals. Its trade robot handles the execution of various trade signals that are offered by different Forex signal providers in the market. ZuluTrade was founded in 2007 and has significantly grown with operations in different parts of the world. It is currently headquartered in Athens, Greece and has other branch offices in Hong Kong, New York, and Shanghai. Currently it has more than 15,000 trading clients registered with its online trading network and is executing trades in approximately 183. Using ZuluTrade auto-trade is simple and free.
Merits Of Using ZuluTrade Auto-Trade
1. Automated Forex Trading
ZuluTrade is developed to effectively combine online Forex trading with other social aspects that allows the trader to easily trade trades and success rates. The auto-trade also allows the online currency trader to automatically mimic preferred trades so that they easily take advantage of other experts' strategies from 60 Forex brokers worldwide. The auto-trader has a chance to choose by himself which signal providers or experts to follow. ZuluTrade auto-executes transactions for free once the trader has selected the provider signal.
2. User Interface
ZuluTrade provide the best trading interface. They provide a page where their registered auto-traders can formulate and compile their portfolio. The auto-trader can add multiple signal providers to auto-trade their Forex account. You can also configure many aspects on the user interface including portfolio and various other parameters from the signal providers selected. These including setting risk limits, different multipliers, stop loss targets etc.
3. Risk Management
Another benefit of ZuluTrade free auto-trade is that they offer useful functions for money management and risk control. ZuluTrade has developed a tool known as "Margin-Call-o-Meter" to protect their registered clients from margin call effects. This is a very important tool that you should not neglect. Clients who avoid this tool taking up much leverage ends up making losses. Such auto-traders end up making huge sums of money.
4. AAAFX - ZuluTrade Integrated Broker
ZuluTrade integrates with AAAFX that offers many advantages to Forex their auto-traders. First, AAAFX offers the lowest possible slippage amongst other signal providers. Always they are among the top 3 brokers offering lowest slippage. This allows you to closely mirror the performance of your trades. Less slippage also allows you to have more pips in your pocket which you can take advantage of any time.
5. Free Accounts Management
ZuluTrade offers free account management. The auto-trader is only required to select a signal provider. The ZuluTrade will actually execute all the transactions on behalf of the trader free of charge. They offer this service to trader who matches the signal provider's activity irrespective of the brokerage which holds the trader's account. In addition, ZuluTrade require no third-party wire transfers and no minimum capital investments. All funds are held by the trader's brokerage account.
Demerits Of Using ZuluTrade Auto-Trade
1. Riding On Someone Else's Trading Skills
Of course this is the greatest ZuluTrade strength which also turns out to be its greatest weakness. ZuluTrade is developed to help the trader ride on experts' skills. This is a big risk when you consider that anyone can become a signal provider. This can lead to poor quality trading system on the website making traders abandon many trading systems.
2. No System In Place To Filter Signal Providers
ZuluTrade relies on several signal providers some of which are inactive. Unfortunately, there is no method in place to filter out inactive and abandoned signal providers. They remain littering the site for nothing. Even some profitable signal providers do crash and burn due to high-risk strategy thus need to be removed from the website.
3. Inconsistent Opening And Closing Operations
Many ZuluTrade auto-trade clients complain of inconstant operations in opening and closing orders especially in America. This is due to the new regulation being enforced by NFA FIFO. The new regulation prevents the trader from closing the second open operation when the first one is still open.
Conclusion
Despite these few demerits, ZuluTrade still remains the best that you can use to execute your trades even when asleep. I would say no broker is perfect and everyone has their own weaknesses. There are plenty of outstanding trading opportunities that ZuluTrade provides. By being careful with signal provider selection and practicing due diligence, you can make loads of cash while asleep using ZuluTrade free auto-trade account.
Utilizing ZuluTrade could be beneficial if used correctly with the right broker. See the details of one of the best brokers that registered in ZuluTrade at AAAFx review. If you rather having EA as your auto-trading means, I'd suggest you check out the recommended ones at best forex robot.
Article Source: http://EzineArticles.com/?expert=Matthew_John
http://EzineArticles.com/?Auto-Trading-Using-Zulu-Trade---The-Merits-and-Demerits-You-Must-Know&id=6611355
Friday, 9 November 2012
Teach Me Forex - Peer To Peer Trading - What Is ZuluTrade?
By Dean Watt
ZuluTrade is an online system to connect people who trade Forex with others who want to learn to make money in Forex. It works by using a signal provider and signal follower system. This means Forex traders can sign up to the service and offer their skills to others. Signal followers are free to choose any signals.
It is free to use any system on ZuluTrade and the provider of this system earns money from broker commissions. For every trade the provider makes a broker will pay them a commission for the signal followers business. In this way the good trader is able to attract a good following and make substantial money. To follow a signal follower you need a Forex broker and It is easy to join a broker from ZuluTrade itself.
How it works?
ZuluTrade ranks all of the signal providers from 1 to over a 1000+. The lower the number the better the system provider has performed. If the provider reach the top rankings they can earn a very decent living.
As a signal follower you need to open your ZuluTrade account. If you are new to Forex trading choose a demo account to start with. You will then be able to select who you want to follow. Have a look at the system providers pages and see who you like.
At the beginning just chose one signal provider. When you get more familiar with the system you can add more. Once you have selected your provider you are faced with a choice of how you wish to trade. You have 2 choices automatic and custom.
Automatic means you set your risk and the ZuluTrade terminal sets your lot sizes for you. It is better to select a low risk settings. It is tempting to set the risk high as you can see the potential to make a killing. However with high risk setting you are more likely to lose your money rather than make it.
Custom setting means you can manually select the lot sizes, number of trades taken, stop losses and take profits. This requires more skills than the automatic system but if you can learn how to use it, it provides great control over ZuluTrade.
For people who are new to Forex trading you should select automatic. You can then start to learn how to use the functionality of ZuluTrade. This means you can start to understand how trades happen and how this can effect you emotionally.
For those who are more adventurous and/or experienced use the custom setting. One of the best things about the custom setting is the backtest facility. This allows you to add in the lot size, take profits etc. Looking at these results show you how your account would have performed if you had used the signal provider with those settings.
By using the back testing feature you can learn about lot sizing and stop losses. This will help you chose the correct settings for your accounts.
ZuluTrade offers a hands free way of trading and ZuluTrade offers a gateway for many people who wish to make money in forex.
Now that we know that a platform like zulutrade can make us money. Whats the catch?
A little knowledge is a dangerous thing. When we follow a signal provider blindly we are at their mercy. Set the wrong lot size and risk profile and you can say goodbye to your account. It's not a matter of IF... but WHEN!!!!!!
However there is a way of keeping ourselves safe. This is through using a risk management system that controls how we trade our signal providers. This simple system will keep us safe and ensures that we can make money from Zulutrade.
Come and visit me to learn how you can avoid losing all your money.
Article Source: http://EzineArticles.com/?expert=Dean_Watt
http://EzineArticles.com/?Teach-Me-Forex---Peer-To-Peer-Trading---What-Is-ZuluTrade?&id=7148625
ZuluTrade is an online system to connect people who trade Forex with others who want to learn to make money in Forex. It works by using a signal provider and signal follower system. This means Forex traders can sign up to the service and offer their skills to others. Signal followers are free to choose any signals.
It is free to use any system on ZuluTrade and the provider of this system earns money from broker commissions. For every trade the provider makes a broker will pay them a commission for the signal followers business. In this way the good trader is able to attract a good following and make substantial money. To follow a signal follower you need a Forex broker and It is easy to join a broker from ZuluTrade itself.
How it works?
ZuluTrade ranks all of the signal providers from 1 to over a 1000+. The lower the number the better the system provider has performed. If the provider reach the top rankings they can earn a very decent living.
As a signal follower you need to open your ZuluTrade account. If you are new to Forex trading choose a demo account to start with. You will then be able to select who you want to follow. Have a look at the system providers pages and see who you like.
At the beginning just chose one signal provider. When you get more familiar with the system you can add more. Once you have selected your provider you are faced with a choice of how you wish to trade. You have 2 choices automatic and custom.
Automatic means you set your risk and the ZuluTrade terminal sets your lot sizes for you. It is better to select a low risk settings. It is tempting to set the risk high as you can see the potential to make a killing. However with high risk setting you are more likely to lose your money rather than make it.
Custom setting means you can manually select the lot sizes, number of trades taken, stop losses and take profits. This requires more skills than the automatic system but if you can learn how to use it, it provides great control over ZuluTrade.
For people who are new to Forex trading you should select automatic. You can then start to learn how to use the functionality of ZuluTrade. This means you can start to understand how trades happen and how this can effect you emotionally.
For those who are more adventurous and/or experienced use the custom setting. One of the best things about the custom setting is the backtest facility. This allows you to add in the lot size, take profits etc. Looking at these results show you how your account would have performed if you had used the signal provider with those settings.
By using the back testing feature you can learn about lot sizing and stop losses. This will help you chose the correct settings for your accounts.
ZuluTrade offers a hands free way of trading and ZuluTrade offers a gateway for many people who wish to make money in forex.
Now that we know that a platform like zulutrade can make us money. Whats the catch?
A little knowledge is a dangerous thing. When we follow a signal provider blindly we are at their mercy. Set the wrong lot size and risk profile and you can say goodbye to your account. It's not a matter of IF... but WHEN!!!!!!
However there is a way of keeping ourselves safe. This is through using a risk management system that controls how we trade our signal providers. This simple system will keep us safe and ensures that we can make money from Zulutrade.
Come and visit me to learn how you can avoid losing all your money.
Article Source: http://EzineArticles.com/?expert=Dean_Watt
http://EzineArticles.com/?Teach-Me-Forex---Peer-To-Peer-Trading---What-Is-ZuluTrade?&id=7148625
Wednesday, 7 November 2012
Why Automatic Forex Trading Software Is The Best Tool For Forex Traders
By Shawn Sofo James
Technological advancements have led to great strides in every sector of human life. That applies to Forex trading too, which has become almost fully automated. There now exists software programs, trading systems and platforms that automatically and successfully trade Forex without any direct intervention of the trader. This has opened up an avenue where traders can profitably engage in Forex without having to spend so much time on research, trend-following, and studying. The Forex trading software offers the following advantages:
Take Emotion Out Of the Trading Equation
The most prevalent mistake in Forex trading is emotional trading. This is especially true among novices and new traders. When emotions and gut feelings come into play, many traders find that they are quitting wins too early when there are much more gains to be made, or exiting losses too late and holding on to non-performing trades. Automated Forex trading ensures that the trader sticks to the strategy and keeps emotions out of the trading equation.
Trading On Multiple Positions
It is difficult and very risky to manually trade from multiple positions at the same time. Automated trading makes it possible to safely and profitably enter into multiple, simultaneous trades. Additionally, the software enables and enhances mirror trading regardless of the timeframes or the diversity of the multiple markets involved.
Consistency
One factor that leads to failure by Forex traders is the lack of consistency. The ability to stick to a chosen strategy greatly affects the gains one may make. Automated trading provides consistency and, therefore, maximizes gains made while greatly eliminating risks and minimizing losses.
Trade Speeds
It goes without saying that trading software greatly improves and enhances speed of entry and exit into and from a trade. The software reacts instantly to even the smallest changes to the trading environment and makes changes that best improve the profit margin of the trader. And the best thing about this is that the changes can be implemented across multiple positions in an instant.
Backtesting
It is important for the trader to review the history of trades to gauge performances and chart the future. Backtesting refers to the review of historical data to determine the viability of the strategy used. The use of automated Forex trading software has made it so much easier for even novices to determine whether their expectations are being met and to make changes and adjustments for better future performance.
Shawn Sofo James has 7 years experience in the Financial Markets, for PRO Investment Bank as an Investment Analyst, before becoming a Forex trading expert in zForex, UK broker.
Tip: Be updated with the Latest Forex News if you want become a successful trader.
Article Source: http://EzineArticles.com/?expert=Shawn_Sofo_James
http://EzineArticles.com/?Why-Automatic-Forex-Trading-Software-Is-The-Best-Tool-For-Forex-Traders&id=7359055
Technological advancements have led to great strides in every sector of human life. That applies to Forex trading too, which has become almost fully automated. There now exists software programs, trading systems and platforms that automatically and successfully trade Forex without any direct intervention of the trader. This has opened up an avenue where traders can profitably engage in Forex without having to spend so much time on research, trend-following, and studying. The Forex trading software offers the following advantages:
Take Emotion Out Of the Trading Equation
The most prevalent mistake in Forex trading is emotional trading. This is especially true among novices and new traders. When emotions and gut feelings come into play, many traders find that they are quitting wins too early when there are much more gains to be made, or exiting losses too late and holding on to non-performing trades. Automated Forex trading ensures that the trader sticks to the strategy and keeps emotions out of the trading equation.
Trading On Multiple Positions
It is difficult and very risky to manually trade from multiple positions at the same time. Automated trading makes it possible to safely and profitably enter into multiple, simultaneous trades. Additionally, the software enables and enhances mirror trading regardless of the timeframes or the diversity of the multiple markets involved.
Consistency
One factor that leads to failure by Forex traders is the lack of consistency. The ability to stick to a chosen strategy greatly affects the gains one may make. Automated trading provides consistency and, therefore, maximizes gains made while greatly eliminating risks and minimizing losses.
Trade Speeds
It goes without saying that trading software greatly improves and enhances speed of entry and exit into and from a trade. The software reacts instantly to even the smallest changes to the trading environment and makes changes that best improve the profit margin of the trader. And the best thing about this is that the changes can be implemented across multiple positions in an instant.
Backtesting
It is important for the trader to review the history of trades to gauge performances and chart the future. Backtesting refers to the review of historical data to determine the viability of the strategy used. The use of automated Forex trading software has made it so much easier for even novices to determine whether their expectations are being met and to make changes and adjustments for better future performance.
Shawn Sofo James has 7 years experience in the Financial Markets, for PRO Investment Bank as an Investment Analyst, before becoming a Forex trading expert in zForex, UK broker.
Tip: Be updated with the Latest Forex News if you want become a successful trader.
Article Source: http://EzineArticles.com/?expert=Shawn_Sofo_James
http://EzineArticles.com/?Why-Automatic-Forex-Trading-Software-Is-The-Best-Tool-For-Forex-Traders&id=7359055
Tuesday, 6 November 2012
What Is EasyLanguage?
By Tim Spears
EasyLanguage, created more than 20 years ago by TradeStation Securities, is a programming language used for trading stocks, EFTs and similar such products. The language is used to create custom indicators for financial charts and to create algorithmic trading strategies for various markets.
EasyLanguage has several advantages over other similar programming languages. Unlike other languages used in the financial market trading sectors, such as FORTRAN, this language is easy to learn having been designed for use by traders without specialized computer and programming knowledge. Commands in the language are simple enough that someone not trained in computer programming would be able to figure out the purpose and function of a line of code with minimal training and perhaps only a reference book to use as a guide. The use of simple English instead of code means that companies using the language have to spend less time and resources on training their traders, which translates in the long run into greater profit.
Although the language was designed by TradeStation, other trading platforms quickly picked up on the language and began to support scripts written in it and to increase compatibility with scripts written by TradeStation. Other proprietary high-end automated trading platforms have even, to varying degrees, incorporated language elements similar to TradeStation's.
While it is possible for one to define one's own, unique functions within the language, it is not expected that most people will do this. In this way, the language functions as a logical programming language as opposed to a functional programming language.
Because it is so simple to learn, the language enjoys a fair amount of popularity among traders. As a result, a quick search on the internet will show that a multitude of tutorials and script depositories are available to those interested in learning how to use the language. In addition there are many communities and forums dedicated to the language, so help is never far away if one gets stuck trying to get the language to perform a needed function. There are also several books available to help those developers who often go into great detail with the language.
Another advantage that the language has is its longevity and compatibility. Because it has been around for over 20 years, the language is trusted within the financial community and has shown that it isn't going anywhere anytime soon. As a result, it has become widespread and many competitor languages, such as MultiCharts' own proprietary language PowerLanguage, have taken steps to make sure that it has some compatibility and the ability to interact with the venerable language.
Although the language is powerful, it has its flaws. Because the language was designed to be used by end-users that are not necessarily programmers, it can sometimes be difficult to get the language to perform tasks outside of its normal operating parameters. This can be overcome in some ways by various scripting techniques, but it is not a general programming language. In this way, the language's strength is also its own weakness.
As an avid article writer and also TradeStation trading enthusiast, Tim Spears has got an incomparable appreciation for the subtleties inside of changing financial market segments. Should you wish to discover how to recognize the very best TradeStation indicator options.
Article Source: http://EzineArticles.com/?expert=Tim_Spears
http://EzineArticles.com/?What-Is-EasyLanguage?&id=7246171
EasyLanguage, created more than 20 years ago by TradeStation Securities, is a programming language used for trading stocks, EFTs and similar such products. The language is used to create custom indicators for financial charts and to create algorithmic trading strategies for various markets.
EasyLanguage has several advantages over other similar programming languages. Unlike other languages used in the financial market trading sectors, such as FORTRAN, this language is easy to learn having been designed for use by traders without specialized computer and programming knowledge. Commands in the language are simple enough that someone not trained in computer programming would be able to figure out the purpose and function of a line of code with minimal training and perhaps only a reference book to use as a guide. The use of simple English instead of code means that companies using the language have to spend less time and resources on training their traders, which translates in the long run into greater profit.
Although the language was designed by TradeStation, other trading platforms quickly picked up on the language and began to support scripts written in it and to increase compatibility with scripts written by TradeStation. Other proprietary high-end automated trading platforms have even, to varying degrees, incorporated language elements similar to TradeStation's.
While it is possible for one to define one's own, unique functions within the language, it is not expected that most people will do this. In this way, the language functions as a logical programming language as opposed to a functional programming language.
Because it is so simple to learn, the language enjoys a fair amount of popularity among traders. As a result, a quick search on the internet will show that a multitude of tutorials and script depositories are available to those interested in learning how to use the language. In addition there are many communities and forums dedicated to the language, so help is never far away if one gets stuck trying to get the language to perform a needed function. There are also several books available to help those developers who often go into great detail with the language.
Another advantage that the language has is its longevity and compatibility. Because it has been around for over 20 years, the language is trusted within the financial community and has shown that it isn't going anywhere anytime soon. As a result, it has become widespread and many competitor languages, such as MultiCharts' own proprietary language PowerLanguage, have taken steps to make sure that it has some compatibility and the ability to interact with the venerable language.
Although the language is powerful, it has its flaws. Because the language was designed to be used by end-users that are not necessarily programmers, it can sometimes be difficult to get the language to perform tasks outside of its normal operating parameters. This can be overcome in some ways by various scripting techniques, but it is not a general programming language. In this way, the language's strength is also its own weakness.
As an avid article writer and also TradeStation trading enthusiast, Tim Spears has got an incomparable appreciation for the subtleties inside of changing financial market segments. Should you wish to discover how to recognize the very best TradeStation indicator options.
Article Source: http://EzineArticles.com/?expert=Tim_Spears
http://EzineArticles.com/?What-Is-EasyLanguage?&id=7246171
Sunday, 4 November 2012
Essential Forex Trading Lessons You Must Know
By Rimantas Petrauskas
There is no doubt that experience can be the best source of learning, where your own mistakes make you learn your craft and you eventually succeed. Forex trading is not as simple and easy as it seems, except for those who spend the necessary time doing the extensive research necessary and then abide by their trading discipline every time they trade. If reading books were the key to success in Forex, 90% of traders would be in profit rather than suffering the loss of much of the money they started off with.
Based on trading experience in the Forex market, there are some lessons that every trader must be aware of in order to curb his losses and let the flow of profits be more consistent.
1 - Always keep calm and never get overwhelmed by your emotions while trading, especially greed and fear, because they will most likely cause you to end up facing losses. The market always favors those who are patient, so do not close out your trades just after the market starts moving in the opposite direction or sit idly by waiting for the right price to enter your position.
2 - Avoid overtrading. You might overtrade just to recover the loss you recently incurred. Greed might entice you to trade to earn more if you enjoyed some profitable trades earlier. The consequences could be harsh if you keep on a losing streak and lose the money you already earned, thus leaving you frustrated and less-confident.
3 - Trading style varies from trader to trader, but trading in the U.S session can make you a decent profit in that the market moves in the same direction 80% of the time. Huge trading volume is the reason behind this as the European session and the U.S session merge, hence resulting in high volume and less choppiness.
4 - Try closing your open trades before data release of high importance since the market exhibits high volatility during that time and often moves in the opposite direction from where you think it would. It simply deceives traders, so totally relying on data releases might not benefit you.
5 - Don't trade against the trend. Going long in a bullish market will certainly earn you profits but if the price starts moving down, selling is not recommended. In fact you should buy more on dips until and unless the market totally changes its trend. The same holds true when the market is bearish; sell more on bounces and don't trade against the trend.
6 - If you follow candlestick patterns for trading, it's better not to trust them before the release of important data such as speeches and press conferences that can have a substantial impact on the market. Many traders close their positions at this time and it results in making deceiving candlesticks.
7 - If you think you should enter long on a certain currency pair, do not buy a huge lot at the initial point of entering. Making small, stair step buy lot entries with certain gaps in between can be much better as it mitigates the risk when you know that the market is really moving upwards. You could make your buy entries after every 10 points for example.
8 - Always go flat on Friday. Closing all your trades before the market closure on Friday can certainly avoid risks because the market might open with a gap in an unfavorable direction on Monday due to some news or events that comes out on the weekend.
These are some things you might not have known if you are a newbie or have been trading for some time, so try implementing these whenever you trade and you will certainly notice improved results.
You can make your Forex Trading easier with the help of trading software. To learn more please visit us at www.ea-coder.com
Article Source: http://EzineArticles.com/?expert=Rimantas_Petrauskas
http://EzineArticles.com/?Essential-Forex-Trading-Lessons-You-Must-Know&id=7329861
There is no doubt that experience can be the best source of learning, where your own mistakes make you learn your craft and you eventually succeed. Forex trading is not as simple and easy as it seems, except for those who spend the necessary time doing the extensive research necessary and then abide by their trading discipline every time they trade. If reading books were the key to success in Forex, 90% of traders would be in profit rather than suffering the loss of much of the money they started off with.
Based on trading experience in the Forex market, there are some lessons that every trader must be aware of in order to curb his losses and let the flow of profits be more consistent.
1 - Always keep calm and never get overwhelmed by your emotions while trading, especially greed and fear, because they will most likely cause you to end up facing losses. The market always favors those who are patient, so do not close out your trades just after the market starts moving in the opposite direction or sit idly by waiting for the right price to enter your position.
2 - Avoid overtrading. You might overtrade just to recover the loss you recently incurred. Greed might entice you to trade to earn more if you enjoyed some profitable trades earlier. The consequences could be harsh if you keep on a losing streak and lose the money you already earned, thus leaving you frustrated and less-confident.
3 - Trading style varies from trader to trader, but trading in the U.S session can make you a decent profit in that the market moves in the same direction 80% of the time. Huge trading volume is the reason behind this as the European session and the U.S session merge, hence resulting in high volume and less choppiness.
4 - Try closing your open trades before data release of high importance since the market exhibits high volatility during that time and often moves in the opposite direction from where you think it would. It simply deceives traders, so totally relying on data releases might not benefit you.
5 - Don't trade against the trend. Going long in a bullish market will certainly earn you profits but if the price starts moving down, selling is not recommended. In fact you should buy more on dips until and unless the market totally changes its trend. The same holds true when the market is bearish; sell more on bounces and don't trade against the trend.
6 - If you follow candlestick patterns for trading, it's better not to trust them before the release of important data such as speeches and press conferences that can have a substantial impact on the market. Many traders close their positions at this time and it results in making deceiving candlesticks.
7 - If you think you should enter long on a certain currency pair, do not buy a huge lot at the initial point of entering. Making small, stair step buy lot entries with certain gaps in between can be much better as it mitigates the risk when you know that the market is really moving upwards. You could make your buy entries after every 10 points for example.
8 - Always go flat on Friday. Closing all your trades before the market closure on Friday can certainly avoid risks because the market might open with a gap in an unfavorable direction on Monday due to some news or events that comes out on the weekend.
These are some things you might not have known if you are a newbie or have been trading for some time, so try implementing these whenever you trade and you will certainly notice improved results.
You can make your Forex Trading easier with the help of trading software. To learn more please visit us at www.ea-coder.com
Article Source: http://EzineArticles.com/?expert=Rimantas_Petrauskas
http://EzineArticles.com/?Essential-Forex-Trading-Lessons-You-Must-Know&id=7329861
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