MetaTrader expert advisor. Phoenix.

As you remember, before few days I started to describe MetaTrader expert advisors collection. I will show you only highly profitable forex expert advisors for the metatrader. Last time we saw main advantages of Framework expert advisor, which based on main Forex indicators and has test profit more than 200%. Today I will acquaint you with different MetaTrader expert advisor which called Phoenix.

MetaTrader expert advisor. Phoenix.

Remember, all Forex advisors yo will find here, you can download absolutely free. For more information about quickly installation of the expert advisors read in our Forex help section.

Now you can Download Phoenix expert advisor free.

Scalping Forex System. Forex trading signals. M5 chart.

As you remember, last time we spoke about Forex scalping strategy. I demonstrated you few interesting examples of some forex scalping theories. You saw how you can get more than 50$ dollars profit in 1 minute only. Today we will continue to discuss Forex scalping pattern and I’ll show you another example of Forex trading signals on M5 chart.

Scalping Forex System.

This example of scalping forex is most profitable during the New York and London trade sessions. Many Forex traders are using this scalping strategy. You can easy test it by yourself on your demo Forex account. As for me, it works fine in 70%. But you should remember – Forex is very risky business and if it works for me, it may not work for you.

I have used this system for a long time and it continues to provide great consistency. As you know, any Forex strategy has its own entry point, especially if it scalping forex strategy. It is very important to remember that you must not overtrade with this scalping system. First of all, you have to wait for the right setup at the right time.

Step 1. Setting up your Forex indicators & charts.

Open your Metatrader platform(or another Forex platform you are working with). Now open a 5 minute chart for the EUR/USD currency pair and add a 10ema indicator, a 21ema and a 50ema forex indicators. That’s it! I told you it was simple!

Now change the colors of these ema indicators. In my case I will use:

• 10ema = Red.
• 21ema = Green.
• 50ema = Blue.

As you know(or not) two indicators: the 10ema and 21ema act ask strong support and resistance, when the Forex market is trending throughout a session. In a strong trend we can turn this to our advantage and scalp forex market while insuring we are trading in the direction of the short term(!) trend, giving us a good trading edge to take some quick pips.

Now you can see small example(diagram) of scalping with the trend:

Small example(diagram) of scalping with the trend.

Step 2. Main scalping system rules:

As I told before, the rules of this trading system are very simple.

• First of all wait for a trend to show on the 5 minute Forex chart, higher highs in an up trend and lower lows in a down trend. Just look at the 50ema indicator for trend strength and direction.
• Make sure you are during the New York and London trade sessions(not Asian session).
• Check there is no major upcoming Forex news about to come out, before you start trading. For this purpose use Forex Daily Events Calendar.
• Once price enters half way into the zone open a trade, sell for downtrend and buy for up trend. It’s very important rule!
• Set up your stop loss at 5-7 pips + spread.
• Move stop to break even at +5 pips.
  
• Set up your take profit at 7-10 pips.
• Good Luck!!!

Remember, scalping Forex system is very and very aggressive system. Make you Forex life more stable with more frequent strategies changes. From scalping to long-term trading and back.

Forex trading signals.

Forex scalping strategy.

Do you know what is a forex scalping strategy? Why so many Forex traders around the world are using this forex strategy? Is it true that forex scalping trading is one of few ways of quick enrichment? Let’s try to answer on these important questions. Also I will demonstrate you few interesting forex scalping strategy examples and really results of my own scalping system.

Forex scalping strategy.

Probably you know that scalping forex is one of several strategies that have evolved in Forex trading.
In other words, scalping forex – is a large number of transactions during a short time interval. It’s really aggressive trading with enormous trading opportunities Moreover. As I said before, for many traders around the world forex scalping is the most acceptable, profitable and available existence on the market. Some traders calling Forex Scalping – as quick trading.

There are different types of forex scalping strategies. For example, aggressive trade, less aggressive trade, secure trade, etc. Do you know what really purpose of scalping forex strategy? The main purpose of scalping is making some profits while exposing a trading account to a limited risk, which is due to a quick open/close trading mode.

Forex scalping can be looked upon as being a high risk endevour, or as a sophisticated and actually lower risk style of trading. It is essential to be using the correct strong Forex tools, best forex broker and techniques while scalping the forex market.

Why do you have to choice only fast forex trading platform for forex scalping strategy? Because of time! Time – is a main factor of success in scalping forex trading. The trading platform must be robust and fast, showing up to the second prices from your broker and trades must be able to be placed rapidly.

What else important factor scalping forex trader must have? Off cause, iron discipline!
To successfully use a scalping forex strategy a forex trader must have iron clad discipline and enter and exit the market according to strict rules. Forex trader must also trade at a very high winning percentage, then the trader must be ruthless in cutting off losses.

Forex scalping examples.

Remember, forex scalping traders MUST buy and sell quickly. Doy you need some example of forex scalping strategies? Take it:

Forex scalping example num. 1

For example, if they buy a lot of EUR/USD currency pair and after few seconds, see a growth of just 2-5 pips(you know how it easy), these traders, immediately, sell it for a profit of $20-$50. In other words, you may buy EUR/USD at 1.2700 and only 10 later the Euro is at 1.2720. This degree of fluctuation is normal and may occur so many times in a 24 hour period.

If your forex trading plan is to use a day trading forex strategy, you could immediately sell your position and book a 20 pip profit. Even trading a mini contract of $10,000 this would work out to a profit of $20 for maybe only ten minutes work. Sound good? Of course! Unfortunately, in practice it is not as easy as it may sound.

Forex scalping example num. 2

Here another example of my own scalping forex experience:

Forex scalping strategy. Examples.

Scalping forex may sound like very and very attractive trading strategy, but for Forex beginners I cannot recommend it other than as an occasional strategy. To make money over time at scalping forex you would have to trade almost perfectly on a very consistent basis. If you are good forex trader you will make a lot more money by taking a somewhat longer term trading approach with your Forex Trading positions.

And remember, Forex is a very agrresive and risky business, but I think some scalping forex strategy is an absolute must have for someone who really is serious about building their scalping forex profit pulling business. Good Luck!!!

MetaTrader expert advisor. Framework.

Framework Expert Advisor detects the most improbable moments of breakout and enters from channel borders. Thanks to unique algorithm the Framework Metatrader expert advisor works all day and night and is not run the danger of night spread extension. Framework Forex expert advisor uses three Commodity Channel Index, most known as MetaTrader 4 Indicator CCI. Indicators crosses to determine position opening and closing. It is very simple, yet effective expert advisor. It also performs checks for available free margin to stop trading if it is bankrupt. This MT4 advisor doesn’t trade if bars didn’t change or there were no 100 bars yet.

MetaTrader expert advisor. Framework.

Now you can Download Framework expert advisor free.

Metatrader expert advisor. Quickly installation guide.

Before few days, I told you about automatic forex system trading. Today we will continue to discuss mechanical trading systems and I’ll tell you what does it mean Metatrader expert advisor, how it can help to trading process on Forex market (by using main Forex trading strategies) and how can you easy and quickly to install Metatrader expert advisor.

MetaTrader Expert Advisor

Few words about MetaTrader Expert Advisor and why so many Forex traders around the world are using this perfect Forex technique. Let’s see the advantages of MetaTrader Expert Advisor:

• First of all it is a completely automated trading system.
• Expert Advisor is using only unique Forex trading strategies.
• It’s based only on really tested Forex strategies!
• Only best Forex patterns and strategies embedded into expert advisors.
• MetaTrader Expert Advisors excludes(!!!) the human factor. It’s very and very important factor.
• It’s flexible system for free testing of your own Forex strategy on historical data.
• It’s open source code system. You can easy program your own expert advisor for free.
• You can easy embed other Metatrader expert advisor(see below).

As you know, Metatrader - is the famous Forex trading platform around a Forex world. It has a variety of advantages and useful functions compared to other Forex trading platforms. Another big advantage of MetaTrader 4 trading platform – absolutely free of charge and convenient for trading on the Forex market.

After you saw all powerfull and importance of Metatrader expert advisors, let’s see how quickly and easy install any Metatrader expert advisor on Metatrader forex platform.

MetaTrader Expert Advisor Installation Guide.

1) First of all you have to know what metaTrader expert advisor should have .ex4 or .mq4 file extension(ex4 extension – compiled code and mq4 extension – source code)!

2) After downloading or creation of your own expert advisor it’s necessary to copy file to the MetaTrader Expert Advisor folder – root directory, in which you installed your MetaTrader 4 Forex terminal.

MetaTrader Expert Advisors folder - root directory.

3) After it you must restart MetaTrader program(close MetaTrader platform window and start terminal again).

4) Now, after restarting the MetaTrader 4, you can open installed Expert Advisor (in the Navigator window section) and start to use it. It’s really easy!!! Now you can enjoy your installed Metatrader expert advisor.

Metatrader expert advisor.

But sometimes you can run into errors. Don’t worry. Let’s see how can we decide these problems:

1) Your Metatrader 4 platform has MQL file editor. To open it, just press F4 button.

2) If you have an ex4 file only, then an icon in the window Navigator will be grey.

3) If you have any errors in a source code, then an icon in the window Navigator will be grey too.

4) After it, just open error source file in MQL file editor(F4) and try to compile if by pressing on F5 button or “Compile” button(at the center top of the editor window). In most cases it must help you to fix those errors.

5) After success compilation, all you need to do is activate your installed Metatrader expert advisor.

MQL file editor.

Next time I will start to describe the main types of Metatrader expert advisors. I will show a really examples of these Metatrader expert advisors. Also, I will add some types of MEA for free download. I hope that this article was useful.

In the end let’s see small and useful video tutorial: “How To Install, Load and Run Metatrader Expert Advisors”.

MetaTrader Expert Advisor

Automatic forex system trading.

What does it mean automatic forex system trading and why should we use it? As you know Forex market is alive 24/7 continuously. And all time you sleep, eat or even work you lose your money. It needs to be monitored every second. But today you can easy decide this problem by using automatic forex system trading. Now you can simply download any automated forex platforms onto your computer and easy configure the programms settings.

Automatic forex system trading.

At the beginning of using automatic forex system you can begin with a Forex demo account that does not use real money. Forex demo account (practice account) will help build your confidence, learn many different forex strategies to test out your trading ideas. Forex demo account lets you acquire practical skills in working with Forex market. Demo Account – great way to practice technical analysis and to build your personal Forex strategies.

After you’ll feel comfortable enough with demo account you will upgrade it to a real Forex account. Best Forex brokers around the world you can find here.

Before you’ll start to use automatic forex system trading you have to upgrade your internet connection, because a web version of automated forex system requires a high-speed and reliable internet connection. Why? See at 1-min forex chart of any currency pair and you’ll understand it. Today Forex trading happens so quickly and internet connection is the only way to go.

Automatic forex trading system.

Modern forex mechanical system tradings work the same ways as you want them to. Probably main advantage of automatic forex trading system is full control of your money risk. As you know, stop loss orders help Forex traders control risk by capping losses!

Many Forex traders use automatic forex system, because it can really enhance your profit making opportunity in the Forex market. But you should know, automatic forex system is unpredictable, because Forex – is a risky business.

Automatic forex system is not trendy or complex, it only helps a forex trader find and act on potential market trading opportunities faster. Probably any modern automatic system consist of big quantity of different forex indicators, charts, real-time Forex news, Forex patterns, signals and so on.

It’s really amazing to see real-time currencies charts. Modern automated Forex trading systems are divided into 2 types: web-based system & desktop-based Forex system. One more thing. Automated Forex Systems it’s a really time saving!!!

Just try automatic forex system trading and easy sleep at night .Test any forex system and you will see, this simple system can help you in your quest for currency trading success.

Forex mechanical system trading.

Trend pattern. Double Top and Double Bottom.

Before few days we discussed “Head and shoulders trend pattern”. Today I’d like to describe another important Trend patterns – Double Top and Double Bottom. Another very reliable and common trend reversal chart formation is the double top. As the name clearly and succinctly describes, this trend pattern consists of two tops (peaks) of approximately equal heights.

Trend patterns

As it is shown on the first image below, a parallel line is drawn against a resistance line that connects the two tops. We should think of this line as identical to the head and shoulders neckline. As a resistance line, it is broken at point A. It turns into a strong support for price level at C, but eventually fails at point E. The support line turns into a strong resistance line, which holds the market backlash at point F. The price objective is at level G, which is the average height of the double top formation, measured from point E.

Diagram of a typical double-top formation.

Signals provided by the double top trend pattern. The double top formation provides information on:

1. The support line, set between points A and E.

2. The resistance line, set between points В and D.

3. The price direction. If the neckline holds the buying pressure at point F, then the formation provides information regarding the price direction: diametrically opposed to the direction of the peaks (bearish).

4. The price target, provided by the confirmation of the formation (by breaking through the neckline
under heavy trading volume.)

Exactly as in the case of the head and shoulders pattern, a vital requirement for the successful completion of the double-top formation is that the breakout through the neckline occurs under heavy market volume. A breakout on light volume is a strong case for a false breakout, which would trigger a sharp backlash in the currency price. The time frame for this chart formation’s evolution is anywhere from
several weeks to several months.

The intraday Forex chart formations are less reliable. There is a strong correlation between the length of time to develop the pattern and the significance of the formation. The target is unlikely to be reached in a very short time frame. There is no direct suggestion regarding the length of target reaching time; but foreign exchange common sense links it to the duration of development.

It is important to measure the target from the point where the neckline was broken. Avoid the trap of
measuring the target price from the middle of the formation under the neckline. This may happen as you
measure the average height of the formation.

An example of a double-top formation in the Swiss franc chart.

Double Bottom trend pattern. The double bottom formation is a mirror image of the previous pattern (See Figures below). Therefore, one may apply the same characteristics, potential problems, Forex signals, and trader’s point of view from the preceding presentation. As it is shown on image below, the bottoms have about the same amplitude.

Diagram of a typical double-bottom formation(trend pattern).

A parallel line (the neckline) is drawn against the line connecting the two bottoms (B and D.) As a support line, it is broken at point A. It turns into a strong resistance for price level at C, but eventually fails at point E. The resistance line turns into a strong support line, which holds the Forex market backlash at point F. The price objective is at level G, which is the average height of the bottoms, measured from point E.

An example of a double-bottom formation in the Swiss franc chart.

Triple Top Forex trend pattern. The triple top is a hybrid of the head and shoulders and double-top trend reversal formations (See Figure below). Consequently, they have the same characteristics, potential problems, signals, and trader’s point of view as the double top or double bottom, respectively. As shown in Figure below, in a typical triple-top formation, the tops have about the same height. A parallel line (the neckline) is drawn against the line connecting the three tops (B, D, and F). As a resistance line, the neckline is broken at point A. It turns into a strong support for price levels at С and E, but eventually fails at point G.

Diagram of a triple-top formation.

The support line turns into a strong resistance line, which holds the market backlash at point H. The price objective is at level I, which is the average height of the three tops formation, as measured from point D. As a double top, the formation fails at point E. The price moves up steeply toward point F. The resistance line is holding once more and the price drops sharply again toward point G. At this level, the market pressure is able to penetrate the support line. After a possible retest of the neckline, the prices drop further, to eventually reach the price objective.

Triple Bottom trend pattern. Triple Bottom trend pattern is a hybrid of the double top and inverted head-and-shoulders patterns (See Figure). As shown in Figure below, in a triple-bottom formation, the bottoms have about the same amplitude. A parallel line (the neckline) is drawn against the line connecting the three bottoms (B, D, and F). As a support line, the neckline is broken at point A. It turns into a strong resistance for price levels at С and E, but eventually fails at point G. The resistance line turns into a strong support line, which holds the market backlash at point H. The price objective is at level I, which is the average length of the triple-bottom formation, as measured from point D.

Diagram of a typical triple-bottom formation.

The head and shoulders pattern, the double top and bottom and the triple top and bottom, due to their significance in trend reversals, are generally known as major reversal patterns.

Double Top and Double Bottom Trend patterns

Forex economic calendar. Week 27.07.2009 - 1.08.2009.

Every Sunday Forex2Easy.com presents you next week Forex economic calendar. Here you can find the most advanced and reliable Forex economic events around the world. Our Forex economic calendar focuses on main Forex market events and world economy reports. World News Forex Economic Calendar will help our customers trade more effectively. Also you can find most sensible explanations for evey Forex and economic events.

Forex economic calendar.

Main Forex Events: 27.07.2009 – 1.08.2009

Info	Date	Time(GMT)	Currency	Forex Event
	27/07/09	15:00	USA	4-Week Bill Announcement.
	27/07/09	15:30	USA	6-Month Bill Auction.
	27/07/09	15:30	USA	3-Month Bill Auction.
	27/07/09	17:00	USA	20-Yr TIPS Auction .
	28/07/09	11:45	USA	ICSC-Goldman Store Sales.
	28/07/09	17:00	USA	4-Week Bill Auction.
	28/07/09	17:00	USA	52-Week Bill Auction.
	28/07/09	17:00	USA	2-Yr Note Auction.
	29/07/09	11:00	USA	MBA Purchase Applications.
	29/07/09	14:30	USA	EIA Petroleum Status…
	29/07/09	17:00	USA	5-Yr Note Auction.
	30/07/09	04:00	ALL	52-Week Bill Settlement.
	30/07/09	12:30	CAD	RMPI.
	30/07/09	12:30	CAD	IPPI.
	30/07/09	14:30	USA	EIA Natural Gas Report.
	30/07/09	15:00	USA	3-Month Bill Announcement.
	30/07/09	15:00	USA	6-Month Bill Announcement.
	30/07/09	17:00	USA	7-Yr Note Auction.
	30/07/09	23:30	JPY	Household Spending.
	31/07/09	04:00	USD	7-Yr Note Settlement.
	31/07/09	04:00	USD	2-Yr Note Settlement.
	31/07/09	04:00	ALL	5-Yr Note Settlement.
	31/07/09	04:00	USD	20-Yr TIPS Settlement.
	31/07/09	09:00	EUR	HICP Flash.
	31/07/09	12:30	USD	Employment Cost Index.
	31/07/09	19:00	USD	Farm Prices.

Forex events schedule.