Synergy FX, a leading Australian forex broker, releases their new trading account with ECN pricing for professional forex traders using the Meta Trader 4 platform

In a move to expand their overall product offering, Synergy FX now offers their Standard Account and an ECN Account.

Importantly, forex traders have the opportunity to practice their trading in either account in the Synergy FX forex demo account.

Suitable for all style of traders, the demo environment is ideal for both currency trading for beginners as well as professional traders to test their forex trading strategies in a practice environment before switching over to the live account.

Manual traders can access Meta Trader 4′s wide range of technical indicators and powerful charting tools to test and confirm their trading decisions.

For automated forex trading strategies such as Expert Advisors and forex robots, traders can import the forex trading system onto the Synergy FX Meta Trader 4 platform to test the programme in the demo environment.

Source: www.sfgate.com

Without any official announcement or promotions eToro has recently soft launched the MT4 platform. While to some it may sound trivial as it’s another broker adding the popular MT4 to the list of its platforms – however in case of eToro it’s not trivial at all.

Unlike prevailing majority of forex brokers eToro was established as a venture capital funded start-up with its proprietary platform in the center. Instead of taking a readily available solution eToro went ahead and developed its own platform upon which it continues development of core features such as the successful OpenBook. For a start-up solely focused on its platform to start offering another platform is far from being obvious and it’s a sign for a major shift in eToro’s way of thinking and positioning.

eToro is here completing a transition from a start-up forex firm into a full blow forex brokerage with the purpose of making its shareholders happy regardless of the technology being used.

eToro in my opinion is doing this for two reasons: first one is the transition from a forex broker which is predominantly marketing to entry level traders using a very simplified platform to a broker catering to all kinds of forex traders – simple or sophisticated. Those long enough in the market will remember the first eToro platform with the simplified gaming interface – for instance graphic animated representation of countries pulling a rope symbolizing a currency pair going in one direction or the other. eToro started transitioning from that gaming interface long time ago realizing that while it is attractive to forex newbies it’s a turn-off for the sophisticated part of the trading public.

The other reason is that eToro has grown quite a lot and now has the market positioning to attract traders who specifically demand MT4. Adding MT4 now will not threaten the very basis on which eToro was founded – its platform. Adding MT4 will add more prestige, larger traders (eToro’s traders are typically not very large in size, albeit OpenBook is changing that) and ultimately volume.

MT4 will eventually help eToro better position itself as a forex broker capable of catering to all types of clients and potentially increase its growth at the expense of smaller MT4 shops which don’t have value adding features Etoro has such as OpenBook and others.

For now eToro’s MT4 is not directly available from its website but needs to be requested from your account’s manager. eToro’s MT4 is rumored to be supplied by Boston Technologies.

Source: www.forexmagnates.com

MetaQuotes continues to impress us with new features in MetaTrader 5.  As with any major software upgrade, however, there will be a period of time where both MT4 and MT5 will exist and perhaps be supported concurrently by brokers.  One excellent way MetaQuotes has helped manage that overlap is a feature that permits MetaTrader 5 to act as a signal provider for MetaTrader 4 with a little coding in the MQL languages.  This article outlines the process, and it was found on the MQL5 Community website, MQL5.com.  All MT4 users and administrators should be sure to keep up with MT5 news as the platform is adopted by the world’s brokerages.

Source: www.cmaplic.com

I have been helping a lot of customer install, setup and use MetaTrader 4 recently and although its not our preferred platform it defiantly has a place in the trade world for beginners or someone who wishes to have a minimal cost setup. I would even go as far as to say that its a good platform for automated order execution.

I have written this list of my top 10 shortcut keys int MetaTrader 4 that I think are very handy and can defiantly speed up using the platform and make it less of a drag! Like anything if you learn to use your tools properly the rest will come easy…. In theory

Left Arrow — chart scrolling to the left.
Right Arrow — chart scrolling to the right.
Page Up — fast chart scrolling to the left.
Page Down — fast chart scrolling to the right.
F12 — move the chart by one bar to the left.
Shift+F12 — move the chart by one bar to the right.
Ctrl+P — print the chart.
F11 — enable/disable the full screen mode. – This one is great for MetaTrade 4 as it can look a bit clunky sometimes
Ctrl+I — call the “Indicators List” window. – Dealing with indicators all day long this has become my favourite!
Ctrl+N — open/close the “Navigator” window. – Navigator is a handy little tool in MetaTrader 4 but can take up alot of room so this shortcut can save time.

Above are my top 10 but I have included all the others i know exist in MetaTrader 4 below.

Numpad 5 — restoring of automatic chart vertical scale after its being changed. If the scale was defined, this hot key will return the chart into the visible range.
Home — move the chart to the start point.
End — move the chart to the end point.
“-” — chart zoom out.
“+” — chart zoom in.
Delete — delete all selected graphical objects.
Backspace — delete the latest objects imposed into the chart window.
Enter — open/close fast navigation window.
Esc — close the dialog window.
F1 — open this “Userguide”.
F2 — open the “History Center” window.
F3 — open the “Global Variables” window.
F4 — download MetaEditor.
F5 — switch to the next profile.
F6 — call the “Tester” window for testing the expert attached to the chart window.
F7 — call the properties window of the expert attached to their chart window in order to change settings.
F8 — call the chart setup window.
F9 — call the “New Order” window.
F10 — open the “Popup prices” window.
Shift+F5 — switch to the previous profile.
Alt+1 — display the chart as a sequence of bars (transform into bar chart).
Alt+2 — display the chart as a sequence of candlesticks (transform into candlesticks).
Alt+3 — display the chart as a broken line (transform into line chart).
Alt+A — copy all test/optimization results into the clipboard.
Alt+W — call the chart managing window.
Alt+F4 — close the client terminal.
Ctrl+Z — undo object deletion.
Ctrl+A — arrange all indicator windows heights by default.
Ctrl+B — call the “Objects List” window.
Ctrl+C — copy to the clipboard.
Ctrl+E — enable/disable expert advisor.
Ctrl+F — enable “Crosshair”.
Ctrl+G — show/hide grid.
Ctrl+H — show/hide OHLC line.
Ctrl+L — show/hide volumes.
Ctrl+S — save the chart in a file having extensions: “CSV”, “PRN”, “HTM”.
Ctrl+W — close the chart window.
Ctrl+Y— show/hide period separators.
Ctrl+D — open/close the “Data Window”.
Ctrl+M — open/close the “Market Watch” window.
Ctrl+O — open the “Setup” window.
Ctrl+R — open/close the “Tester” window.
Ctrl+T — open/close the “Terminal” window.
Ctrl+F6 — activate the next chart window.
Ctrl+F9 — open the “Terminal — Trade” window and switch the focus into it. After this, the trading activities can be managed with keyboard.

Source: www.theindicatorguys.com

MetaTrader 4 is one in the leading Net forex trading online platforms presently readily available for your man or women trader. This write-up is made as being a tutorial in by using the MetaTrader 4 software package to spine-test an specialist advisor or even a private industry strategy.

Your initial factor will be to obtain the professional advisor application or your personal industry approach loaded in the MetaTrader 4 process. You are able to consult your skilled advisor’s directions and tutorial on the way to do this. When you may have loaded the specialist advisor, you then go to your “View” pull down menu on the high from the MetaTrader four console. Then click on “Approach Tester” or hit “Ctrl R” to the keyboard.

Soon after clicking Technique Tester, a window will seem on the bottom of your MetaTrader 4 console. This can be wherever you’ll arrange your specialist advisor. Be aware that you just will must input your investing parameters to the MetaTrader 4 system ahead of you can spine-take a look at your own personalized trade prepare or strategy. Only expert advisors and buying and selling programs that have been compiled and placed within the /EXPERTS subfolder within your MT4 listing can be examined.

If you may have properly installed your professional advisor, and/or correctly input your personal parameters on your individual industry approach, you need to then decide on the professional inside the “Tester-Professional Advisor” discipline. At this stage, carry on by taking the following actions inside the “Settings” tab of your “Tester” window where you can: 1. Pick the specialist advisor and arrange its inputs. 2. Decide on a image and time period. 3. Choose from among the 3 modeling strategies. 4. Set the time variety you are going to need to test, if diverse from the default.

After you might have input your selections, it is possible to then decide to arranged further testing parameters and inputs by pressing the “Skilled properties” button. Once you do that, a brand new window appears with three tabs as follows: o Testing – this really is wherever you can set common testing parameters for example the quantity and foreign money to generally be at first deposited for the professional advisor to operate with during the testing. Deciding on “Only Quick” will only open small positions, whilst “Extended and Small” will open the two very long and brief positions. o Inputs – it is possible to edit a table of variables that may influence the operation of your expert advisor which can be modified directly from the consumer terminal devoid of interfering while using skilled advisor’s code. The amount of variables that can be modified depends within the expert advisor.  Optimization – this tab allows you to restrict testing passes when optimizing. Modifying these parameters will not influence single passes while testing the specialist.

Right after inputting the initial parameters, you will probably be ready to opt for a currency exchange symbol and also a timeframe for testing. It is possible to either choose 1 with the available symbols in the MT4 terminal or import an external data record to make use of alternatively. Pick the symbol in the “Symbol” area and also the timeframe inside “Time period” field. If the info document would not exist for that image, it is going to be made and can automatically download the final 512 bars for that symbol. Bars are how MetaTrader four merchants records within a so-known as TOHLCV format that incorporates Time, Open, Higher, Lower, Near and Volume data.

When the information is ready for that image you selected, you might have 3 types of modeling in the historical records. The very first is “Open price ranges only” which could be the fastest modeling approach and was designed for experts which industry on accomplished bars. The 2nd is “Regulate points” which will consider a crude estimate with the skilled advisor’s efficiency. Lastly, you’ve “Just about every tick” modeling that, like the previous procedure, generates manage tips on an OHLC basis and is essentially the most precise technique of modeling.

Modeling quality is often examined within the “Report” window. Colored bands are used to show the “Modeling Top quality” and therefore are displayed in 3 distinct colors. Grey indicates the readily available information that didn’t participate in the take a look at. Red indicates which the modeling omitted lacking records. Grn indicates wherever the modeling was performed.

Modeling dates along with other parameters can be altered, but the data document then has for being re-designed by hitting the “Recalculate” button.

As soon as you’ve got completed all of the over, you may press the “Start” button to begin testing. This system will advise you as to how extended it will bring with the outcomes.

You can flag “Visualization” whereupon a chart will seem automatically as well as the modeled tick sequence is displayed as it’s calculated. Visualization might be skipped with a particular day by hitting the “Skip to” button. Also, the software package will graph most of your results, plus, you can adjust variables to see the final results of any buying and selling technique by manually inputting the buying and selling parameters.

Vantage FX UK offers an exclusive test environment for Forex traders to run the rule over Expert Advisors before using them to trade for real.

In financial trading, Expert Advisors are software robots designed to automate part or all of the trading process, including Forex strategy and money management.

Unique to Vantage FX account holders, the Expert Advisor Test Lab allows traders to assess two EA Forex Robots every month through demo account testing, detailed monthly performance stats and trade-by-trade descriptions. The online lab also provides users with discounts on EA programming software.

Vantage FX UK provides traders with a comprehensive education service, including a 30-day MetaTrader 4 demo account and daily currency market insights.

Find out more about Vantage FX’s Expert Advisor Lab here.

Trading derivatives and Forex carries a high level of risk to your capital and you should only trade with money you can afford to lose. Forex trading may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.

Source: www.prnewswire.com

Traders,

As many of you have heard, IBFX has partnered with VPS Land to offer you our latest technology solution. A virtual private server, or VPS, will ensure that your trades are made accurately without tying up your personal computer.

We’re received a variety of questions regarding our VPS service, and have done our best to answer them below.

Q: How do I sign up?

A: InterbankFX customers can purchase their vps from www.vpsland.com/ibfx. IBFX Australia customers can purchase their vps from www.vpsland.com/ibfx-australia.

Q: What is the monthly cost and are there any contract requirements?

A: The customized IBFX plan is sold specifically to IBFX customers at a prediscounted rate of $26 per month. VPSLAND does offer higher priced plans with additional resources should you decide to upgrade at any time. There are no long-term contracts and all billing is done on a monthly basis. You are free to cancel at any time.

Q: How does IBFX reimburse me?

A: By the 15th day of each month, IBFX will credit the previous month’s VPS fee up to $35.00 USD directly into the associated IBFX live trading account. All qualifying trading accounts must have a minimum balance of $5,000.

Q: What resources come with my VPS?

A:  The default IBFX customized vps comes with 1GB of dedicated RAM, 20GB of dedicated cloud RAID10 disk space and equal-share of an 8-Core Xeon server configuration.

Q: How do I know my trading platform is secure and protected?

A:  We deploy enterprise firewalls in a multi-layer configuration to ensure you are safe from floods, attack and any other security threat. We also deploy all of our VPS hosting plans on a fully-meshed cloud virtualization platform. Unlike traditional vps hosting providers, our vps plans are fully redundant, selfhealing, elastic and feature automated failover. You can truly set-it and forget-it with a VPSLAND vps hosting plan.

Q: What are my payment options?

A: We accept Visa, Mastercard and American Express

Q: Is the trading platform pre-installed?

A: Yes, the custom IBFX vps hosting plan is pre-installed with the IBFX-specific version of MetaTrader, ready to launch and trade immediately upon purchase.

Q: Can I install other software?

A: Yes, you will have full local Administrator access to your VPS and are free to install any additional software that you may need.

Q: Is this a Window VPS?

A: Yes, you will receive a fully licensed Window 7 Professional VPS.

Q: How are Windows updates handled?

A: As all of our vps plans are just like dedicated servers/desktops, Windows updates are downloaded directly into your vps. They are not installed automatically and you have the choice of when to install them. When any updates are available you will see a small notification icon on the bottom-right of your VPS desktop screen. Click this and you will then be prompted to install the available updates. You will also be able to choose the most convenient time for any required reboots, so as to not interrupt your online trading.

Q. Where are your servers located?

A: All servers are located in a secure datacenter in Atlanta, GA. All servers are connected via multiple 10GBPS uplinks and feature low-latency connections to IBFX trading systems.

Q: How do I login to my VPSLAND control panel?

A: You can access our customer portal at https://portal.vpsland.com.

Q: Do you offer customer support?

A: Yes, all VPS plans come with complimentary 24×7 customer support. Just login to your account in the customer portal to submit a support ticket. All tickets are responded to quickly by our in-house support staff. All staff are fully trained and experienced with MetaTrader and general Forex inquiries. Rest assured that you will be well taken care of by our technicians.

Further to the recent introduction of mobile trading applications by Tadawul FX, mobile forex trading has seen a growth in volume of 175% over the past month alone. The MT4 Mobile Forex trading applications for BlackBerry, Android, iPhone and iPad provided by the Forex broker have been downloaded by many of its traders, allowing trading on the go with easy access. The continued volatility in the markets has also prompted clients to trade more frequently and further capitalize on opportunities to increase profit potential.

With a strong reputation for its focus on offering premier customer support, European licensed online Forex and CFDs broker Tadawul FX, continues to prove that adapting to customers’ needs is of utmost importance to the company.

A few short months after the launch of its upgraded mobile trading platforms, including apps for Blackberry, Android, iPad and iPhone, Windows Mobile and Smartphone, Tadawul FX has experienced an impressive 175% increase in mobile forex trading volume. A web-based Forex trading platform which was simultaneously launched, and which allows access via mobile phone and PC, was also very well received and has been used extensively by Tadawul FX traders.

In line with the overall increase in trading volumes seen across the industry in 2011, Tadawul FX has also experienced a large uplift, both due to the growth of the company and its client base, and also due to the volatility of the markets, which translates directly into large market movements and therefore further opportunities for trades. Global factors such as the unrest in the Middle East, the UK riots, incidents of natural disasters and so on, cause great shifts in the markets, allowing traders to take advantage and capitalize on these upward and downward market movements.

Stavros Yiannakou, Chief Executive Officer of Tadawul FX, explains that the increase in trading volume has been significant this year. “The benefit of Forex trading, which makes it superior to other investment asset classes, is that it requires market movement to make a profit, which can be on either site of the market’s directional movements. So even in a downturn there is potential to make money. And the larger the movement, the more potential there is for profit. With clients from 142 countries, Tadawul FX has seen a marked increase in trading volume, especially from European and Middle East regions directly linked to these large movements.”

Thomas Papantoniou, Chief Operations Officer of Tadawul FX, explains the impact of mobile trading applications on this increase. “With mobile trading, Tadawul FX clients have more opportunity to take advantage of these sudden and large market movements and to better tap into the volatility to their benefit, wherever they are. So far, the most popular mobile apps for our traders have been the iPhone and iPad, followed by Android, Blackberry and Windows. The wide variety of platforms covered, coupled with the option of a web-based interface, and a large choice of language options, is giving our customers direct access to the MetaTrader 4 platform and eliminating the need to download the platform altogether.”

Papantoniou adds, “Platform non-dependency and the simultaneous launch in 10 languages were specifically intended to take advantage of this market volatility. Our mobile applications have all been designed with practicality, speed and user-friendliness in mind. Traders can monitor prices on Forex and CFDs in real time, create ‘favourites’ and ‘watchlists’ for specific interests key to their portfolio. Traders also have the ability to open and close instant market orders, amend and place existing orders including SellStop, StopLoss, BuyStop and TakeProfit. There are user guides available if needed, in conjunction of course with our 24 hour support. The intention of these applications is ultimately to better inform our clients, which will inevitably lead to better trading. Backed by the trading results of 2011 and the popularity of these mobile trading apps so far, it seems our clients are after precisely the same thing, which is simply another way to effectively stay on top of a fast moving market, and another way to make greater profits.”

Source: www.sfgate.com

Nowadays the popularity of the Android platform developed by Google is growing rapidly. FIBO Group is always trying to follow changing market demands and is happy to introduce you our new free version of the MetaTrader 4 (MT4) terminal designed specially for trading on your smartphone with Android operating system. Fibo Android Trader enables you to make different trading transactions such as to place, close, cancel and modify market and pending orders including Stop Loss and Take Profit. FIBO Android Trader is supplemented with the “News” sNowadays the popularity of the Android platform developed by Google is growing rapidly. FIBO Group is always trying to follow changing market demands and is happy to introduce you our new free version of the MetaTrader 4 (MT4) terminal designed specially for trading on your smartphone with Android operating system. Fibo Android Trader enables you to make different trading transactions such as to place, close, cancel and modify market and pending orders including Stop Loss and Take Profit. FIBO Android Trader is supplemented with the “News” section which gives you opportunity to monitor world’s most important news flows in real-time mode through the terminal. User-friendly interface of the terminal makes it possible to scale charts and to look through various market indicators in a table or graph overview. We are sure that you will be satisfied with simplicity and convenience of the new terminal. We wish you successful trading with FIBO Group!ection which gives you opportunity to monitor world’s most important news flows in real-time mode through the terminal. User-friendly interface of the terminal makes it possible to scale charts and to look through various market indicators in a table or graph overview. We are sure that you will be satisfied with simplicity and convenience of the new terminal. We wish you successful trading with FIBO Group!

Source: www.android-apps.com

Among the popular forex Meta Trader trading software Meta Trader 5 is the latest one. Recently this Meta Trader 5 is released in beta version. As a whole it resembles the previous version in interface and design. Meta trader 4 was popular because of its main features such as easy use and flexibility.

If a person has multiple accounts it is easy for him to manage the accounts in Meta Trader 5. In the navigator the new accounts window quick and easy movement

between accounts is permitted. Hence there is no delay or trouble in permitting the employment which has different strategies and in different accounts. If a person want to have two accounts one for trading and one for scalp, it is not easy for him to change between the accounts for responding to the events of the market. Those who are active in trading admire this feature.

The time saved because of the new addition pleased the long term committed investors.
The interface focus is on the main window. In this main window one can display the multiple forex price action graphs or they can have a single large panel focused for trading of their pair easily. Some of the icons and buttons that are present in the MT4 are purposely not allowed in Meta Trader 5. But it will be implemented once again. Meta Trader 4 has already important technically analyzed collections of indicators. In Met Trader 5 a huge number of indictors that are new additions are great. The forex indicators are divided in to four groups in Meta Trader 5. They are named as Oscillators, Trend, Bill Williams and Volumes. Traders can store the developed or imported items in a fifth category of custom indicator. The access is fast and easy in the new indicator group. Among moverages the new trend indicators are the Adaptive MA, the Fractal Adaptive MA, the Variable Index Dynamic Average and the Double and Triple Exponential Moving Averages. Of all these the double exponential moving average has lesser lag and more accurate than the simple EMA. This advanced tool. Triple Exponential Moving Average has even less lag when compared to the Double exponential moving average. All these common exponential and simple moving averages are used for trend analysis.

The Triple exponential Average is the latest addition among the Oscillators. TRIX has a triple Exponential Moving Average which oscillates around the centerline at 0. This indicator’s best advantage is its efficient filtering capacity. The Bill Williams are the new category of indicators in which the new Market Facilitation Index is added. According to the interaction between price, volume and the indicator itself signals are emitted from this tool. Totally there are seven new indicators are there in this Meta Trader 5.

Meta Trader 5 also has advanced features also for those who want to do auto trading. It has a powerful expert advisor and advanced trading script. Though the Meta Trader 5 is in beta stage the final product is going to be a better version.

Source: www.fxbotreview.com

Source: www.dailyforextradingedge.com

MB Trading FX, a technology-driven Forex brokerage offering STP and ECN execution via MetaTrader 4 as well as multiple trading platforms, announced today the launch of its Free ECN pricing structure. MB Trading FX is the first Forex broker to offer free ECN trading.

“The ECN model has matured, and MB Trading FX has led those changes. We believe now is the time to again raise the bar with a commission-free ECN model. This bundles the best of all things FOREX to date—an ECN model with orders reflecting on our Limit book, customers able to cross orders with one another, and a non-fixed spread where all participants may reduce the spread with their bids and offers,” said Ross Ditlove, CEO of MB Trading. “Some traders clearly prefer to not have a commission added to their trade after the fact. With this plan, we take our bank fee and apply a small mark-up to cover our costs. The price that is reflected in the montage is the total trade cost. For clients who prefer to only post their limit orders, MB Trading FX will continue to offer its hugely successful Pay for Limits plan, which to date has paid clients over half a million dollars in rebates.”

The company is the first brokerage to offer such a pricing structure via its MetaTrader 4 platform. MB Trading FX is now accepting live accounts for the new pricing model and has updated its website to display comparisons of its spreads to other non-commission brokers on its website, www.mbtrading.com.

”Thanks to MB Trading FX’s neutrality, our bank quotes are very  competitive, thus we can add a small mark-up into the quote and compete with any spread-based Forex broker while still showcasing our ECN technology to allow retail customers to enjoy these benefits,” according to their Executive Vice-President.

Source: www.ibtimes.com

By definition, a trading manager is one who is in charge of the people who are buying and selling investments at financial institutions. Traders are struggling with managing the trade. They are always in the lookout for more features and as well as better ways for them to manage their trades.

A Metatrader is trading software that is developed by Meta Quotes Software. This software is used for trading financial instruments online like forex, futures and options. This software was developed in the year 2002. It has evolved as among the most successful tools for trading at all times. This software includes MQL4. This is a scripting language that involves a powerful capability of real-time processing.  It is also able to provide even the smallest details in indicators. The 4.0 version is the most widely used. This includes more than fifty indicators built to it that will monitor the markets in precise ways.

A complete package of this software includes a server, mobile, client terminal, administrators, data center and manager. The client terminal is the one providing the options for trading and as well a real time information regarding the market and the indicators. However, for you to be able to start trading using this client terminal, you need to have a live account first. The most important part is the server. This is what holds the requests of the trading. It is managed by the administrator. The inquiries information and customer accounts are all managed by the manager console. The data center console is the one used to reduce the load of trading in the main server. This will help achieve an efficient level of application.

Source: www.jcjnjd.com

One of the best forex trader techniques for establishing positions in an online trading account involves analyzing exchange rate charts for a currency pair.  Technical forex traders might use a variety of chart types for this purpose, which can include tic or tick charts, line charts, bar charts and point and figure charts.

The following sections will discuss each of the aforementioned chart types in greater detail. Although Japanese candlestick charts are also very popular among forex traders, a discussion of that especially detailed charting method lies outside the scope of this article.

The Tic Chart

The tic or tick chart is one of the best forex trader tools for very short term trading strategies such as scalping, or for timing an entry into the market being analyzed. This popular chart type lacks a time frame and simply involves graphing a new tick each time that the exchange rate changes. Most forex traders operating in an online trading account via an online forex broker that supports a reasonably sophisticated forex trading platform like MetaTrader will also be able to plot both the bid and offer exchange rates on their tic charts, as Figure 1 below illustrates.

Figure 1: A tic chart for GBP/USD showing the offered exchange rate in blue and the bid rate in red.

The Line Chart

The line chart is another useful tool that helps traders smooth out the price action and identify trends. This chart type includes a time component and typically involves graphing the closing exchange rates for each time period depicted and connecting the resulting dots with straight lines.

Most forex traders operating in an online trading account via an online forex broker that supports a reasonably sophisticated forex trading platform like MetaTrader will be able to plot line charts similar to Figure 2 below.

Figure 2: A daily line chart for GBP/USD showing the closing exchange rate in black.

The Bar Chart

The bar chart is one of the best forex trader tools and provides much more information than the line chart. Like the line chart, the bar chart includes a time component, but it typically involves graphing a vertical line or bar between the high and the low exchange rates for each time period time depicted, as well as a left tick at the opening level and a right tick at the closing level.

Forex traders operating in an online trading account via an online forex broker that supports a reasonably sophisticated forex trading platform like MetaTrader will usually be able to plot bar charts similar to Figure 3 below.

Figure 3: A daily bar chart for the GBP/USD currency pair showing its high, low, opening and closing exchange rates in black.

The Point and Figure Chart

The Point and Figure chart is considered the best forex trader tool by many professional traders and it focuses only on price action. A Point and Figure chart lacks a time component, and it usually involves graphing a series of X’s or green boxes to show an upward move and a series of O’s or red boxes to show a downward move.

These unusual charts are typically parameterized by a box size expressed in pips and the number of boxes required to show a reversal from X’s to O’s or vice versa.

Although primarily used by professionals who often create them by hand on graph paper, retail forex traders operating in an online trading account via an online forex broker might need to obtain a special indicator for their trading platform in order to be able to plot Point and Figure charts similar to Figure 4 below.

Figure 4: A Point and Figure chart for the GBP/USD currency pair with X’s plotted in green and O’s plotted in red, and using a box size of 5 pips and a three box reversal. Resistance trend lines are plotted as green lines, while support trend lines are shown in red

Source: www.forexnewsnow.com

If you want to use Metatrader 4 on your iPhone, you can use tools that create a remote connection to your desktop, where Metatrader 4 is running. For example, you can use the TeamViewer app for iPhone, it connects to any PC around the world and you can remotely control the PC as if you were sitting right in front of it.

TeamViewer App for iPhone, iPod touch & iPad Future:

• Support your clients and colleagues spontaneously.
• Access your office desktop with all of its documents and installed applications.
• Remotely administer unattended computers (e.g. servers).
• Free for non-commercial use: support family and friends or have remote access to your own computer.

TeamViewer App for iPhone Functions: Remote Access, Multi-Touch, Keyboard, Remote Reboot, Screen Resolution, Partner List, Works Behind Firewalls, Security, etc.

Download iPhone app monitor your Metatrader 4 accounts using my FX Stats for iPhone and iPod touch on the iTunes App.

Source: www.tips-forex.com

If you want to change the traditional arrows drawn by your indicators, here is the symbols that you can use in MetaTrader with their respective code :

Pending orders are the client’s commitment to the brokerage company to buy or sell a security at a pre-defined price in the future. This type of orders is used for the opening of a trade position provided the future price quotes reach the pre-defined level.

There are usually four types of pending orders available in the MetaTrader platform:

1. Buy Limit — buy provided the future “ASK” price is equal to the pre-defined value. The current price level is higher than the value of the placed order. Orders of this type are usually placed in anticipation of that the security price, having fallen to a certain level, will increase.
2. Buy Stop—buy provided the future “ASK” price is equal to the pre-defined value. The current price level is lower than the value of the placed order. Orders of this type are usually placed in anticipation of that the security price, having reached a certain level, will keep on increasing.
3. Sell Limit — sell provided the future “BID” price is equal to the pre-defined value. The current price level is lower than the value of the placed order. Orders of this type are usually placed in anticipation of that the security price, having increased to a certain level, will fall.
4. Sell Stop — sell provided the future “BID” price is equal to the pre-defined value. The current price level is higher than the value of the placed order. Orders of this type are usually placed in anticipation of that the security price, having reached a certain level, will keep on falling.

*Remember, in volatile market or fast-moving market conditions, stop-loss orders can become market orders and may be filled at the prevailing price, which may differ greatly from the desired price.