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You don’t actually own the stuff you’re buying.
CFDs are a way of trading without buying or selling the underlying financial instrument, whether currency, stock, equity, directly. So, as such, liquidity doesn’t enter into it – in that sense, a purer speculation on price movement up or down.
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To clarify, further to our quick tutorial on installing mq4 files in MetaTrader – if you’ve downloaded an expert advisor or forex indicator or similar that is in the form of a ex4 file, it’s even easier.
All you have to do here is find the right folder and copy the file to it.
For example, it’s most likely your Metatrader is at C:\Program Files\MetaTrader, so all you need do here is drop it into
C:\Program Files\MetaTrader\experts
if it’s a downloaded expert advisor, or
C:\Program Files\MetaTrader\experts\indicators
if it’s an indicator and it should all show up next time you run MetaTrader.
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Pivot points are a quick method of assessing trend and likely levels of support or resistance – they’re not all you’ll ever need to know, just another weapon in the forex armory, particularly useful in the short-term.
We’ve added to a pivot point calculator to our free tools section – at the moment, just for standard (floor) pivot points – the more exotic formulae, De Mark pivots, the Camarilla system, will be following shortly.
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Golfers get the yips – darts player get dartitis…
General over-analysis is one thing – too many indicators on a chart, too complicated a system, with too many ifs and buts in it – and common enough when you’re starting out learning about forex.
But what can happen after a while, maybe when you’ve been generally successful, had a few nice winning trades, but also a few losers, bigger than you’d like, is that you just don’t want to click that trade button. Call it overcautiousness, fear of failure, whatever.
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It’s easy to include add-ons into MetaTrader – indicators, expert advisors (EAs), and other scripts, customising it to your particular requirements - this makes the software very flexible and is probably the main reason it currently leads the field. But what, why, and how?
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Forex trading the news? – I know this may seem fairly obvious to most, but news events aren’t what they’re talking about on the television financial news networks right now. That’s journalism, reportage, call it what ever you like. As useful information for placing trades in the retail forex market, it’s dead.
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Bollinger bands are a great way of understanding market movements if you’re new to the forex game. Everybody uses them, and overall, the concept is relatively easy to understand. And your charting software will do all the work for you – so at first, no need to go into all the math involved.
And here’s a nice enough example. GPB/USD 30-min chart – the currency pair becoming range-bound, candlesticks shortening and then breakout – here, to the downside.
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