TraderGav.com

Gav's trading blog - Perseverance, Consistency, Confidence

FX

Links : Metatrader & MQL4 development

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When I first started looking into automated trading system development, particularly in currencies trading, Metatrader is always one of the candidates. The main problem with Metatrader , in my opinion, is without reputable broker. No, not another debate about Forex brokers. When your account grows bigger you will have more concerns over these issues.

Back to ATS, one of the reasons I like Metatrader is that there are full of free resources (craps as well) around the internet. Here are some links that I’ve found over the past weeks during my program development.

Enjoy! And Happy New Year. Here is to a prosperous 2009.

Some holiday updates

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This  year’s Christmas/New Year break, we choose to stay in Melbourne, relaxed and “do nothing”. 🙂  No traveling, no vacation.

So, here is to show you what I have done for the past week. I spent some time coding and testing my system. Well, basically, I am not a big fan of back testing , I was just playing around my programming skills, to prove I am still good enough to code some programs 😆 . This is the system I am trading day in and day out, so I know it works, even without the dumb ass back testing.  It definitely makes my life a lot easier after program it to generate automated trading signal. Now even my wife can put in the orders for me…:)

So, the name of the system? ‘Really Dumb Trend Catch’ system. Here is an example of EURGBP trade before Christmas.

eg_h4

I’ve also coded an EA (Expert Advisor) in Metatrader. Well, I do not intend to go for automated trading just yet. Just having fun writing some codes. I found programming keeps my brain sharp.  I have been doing research and reading about automated trading, particularly in currencies trading area. Probably, I will write up something later on.

Holidays continue……

Out of market

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I am out from market now. Well , in case you wanna know.. I was in the market since yesterday.
GBPUSD long position was stopped out before it rallied. And I was away from my workstation. oh well, it happens.

AUDUSD was flying. It feels really good to wake up in the morning with 300 pips profit in your trading account. 😆

Here is the ….CHART! It is for showing off purposes. 😆
audusd1hr_17december2008

Nothing much. Waited for price to squeeze, speculate the bloody rate cut. Boom. Then manage trailing stop, then , profit target hit…then…that’s it.

Coffee thought – Trading the chart?

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Trading the chart?
Trading the Chart?

Just some thoughts when I am having my morning coffee in the rainy Melbourne.

Trading the Chart?

How should a trader use a price chart? This is just another question without an answer. Some traders claim themselves as “chart trader”. Yeah, give him a chart, he can trade his ass up.

Thinking in this way. We trade our view or opinion about the market. Trading, particularly, currency trading in my case, we are speculating. Yup, it is all about speculation. It is speculation, because you, in fact, nobody, know for sure which way the market is moving. Regardless of the time frame, you are trading off, you are trading your own opinion.

So, I know I am speculating. I know the price won’t necessarily reverse when RSI is over 70/30 or the MACD is crossing over some magic lines.  Then what?

coffee_roaster

Forming your opinion. Explaining to yourself why do you think Dollar sucked, and you should short it. 

I am talking about your own opinion, not the one from the talking heads on CNBC/Bloomberg or DailyFX.

Face it, there is really no expert in the trading industry. There are just a bunch of people who know more jargon, reading more news, and writing more craps than you do. Disagree with me? That’s your problem.

Now use the price chart as a roadmap. 

So, you have formed your opinion. Cool. But do you know where you are?  You gotta know your current location before start driving to your next destination.  Here is where the fancy technical analysis comes in. Start confusing yourself with the trendlines, CCI indicators, pivot points, or some chicken indicators.

That’s part of the process. And nothing is wrong with that. As long as you are convinced, and you know where you currently are, and where you are heading, they are all good.

Stop or being stopped at some points is just part of the game.  We evaluate , and decide the next move. Well, at least, that’s how I trade.

Crap, I think I talked too much today. Enjoy your weekend.

Busy week

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The idea box generated quite a number of trades after the first disastrous day. 😆

All trades were focusing on Long EURGBP, and short USDJPY. Friends on my Facebook would have known I was trading these two pairs frequently this week.  The idea box is built with a stupid trend following method couple with fundamental analysis . Whatever you wanna call. I don’t care. It all about speculation.

Here is to show you one of the EURGBP trade I’d made.

eurgbp

Anyway, Christmas is around the corner. People are again spending like hell. Yup, they might know how shitty economy condition Aussie is facing soon. There are just too many reasons to spend. And THE Government is asking us to spend.

I am still trading next week. And after that I will be taking time off for Christmas/ New  Year break.  And taking the time to review my trading this year. Gut feeling tells me it is not going to be as impressive as I had expected at the beginning of the year. It took me a little too long to adjust my trading style to fit into the changing market condition. Let’s see.