Blog – Page 300

October 14
2008

My Expert Advisor Reaching Top 10 in Automated Trading Championship 2008

As I write this post, my MetaTrader expert advisor is at the 9th position of the Automated Trading Championship 2008. Even if its a temporary situation, thats great success for me, considering that my ATC 2007 expert advisor wasnt even profitable. Currently my championship account equity is at $28,953.88 — up from the initial $10,000 account size. The championship started on October 1st, so its only a 10th day of the competition and more than two months left before December […]

October 12
2008

Forex Technical Analysis for 10/13—10/17 Week

EUR/USD trend: sell. GBP/USD trend: sell. USD/JPY trend: sell. EUR/JPY trend: sell. Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.2655 1.2957 1.3182 1.3484 1.3709 1.4011 1.4236 GBP/USD 1.5749 1.6268 1.6658 1.7177 1.7567 1.8086 1.8476 USD/JPY 90.09 94.00 97.33 101.24 104.57 108.48 111.81 EUR/JPY 118.73 […]

October 9
2008

Third Day of Growth on EUR/USD

EUR/USD is growing for the third day straight now. Although the gains are quite modest, the divergence indicators show that the current correction may turn into quite a large bullish wave for this currency pair. EUR/USD is currently trading at 1.368 — a gain of 37 pips from the todays open. Initial jobless claims posted an expected drop last week — they fell from 498,000 (upwardly revised […]

October 8
2008

Dollar Falls for Second Day as U.S. Markets Not Revived by Rescue Plan

EUR/USD currency pair is growing for the second day in a row today after the Federal Reserve and the major central banks cut the interest rates to provide additional help to the tumbling markets. Fed cut the interest rate from 2% to 1.5%, Bank of England — from 5% to 4.5%, European Central Bank — from 4.25% to 3.75%, Bank of Canada — from 3% to 2.5% and Swiss National Bank — from 2.75% to 2.50%. This didnt influence dollar much — it continued to fall despite […]

October 6
2008

OrderSend Error 130 — What to Do?

The expert advisors that work on one broker can stop working on another; the problem with them often lies in OrderSend Error 130. If you see Error 130 in the Log of your MetaTrader platform when your expert advisor should be opening a position, then that means that the stop-loss or take-profit levels are set to close to the current market price. In the MQL documentation this error is called ERR_INVALID_STOPS («Invalid stops»). Some Forex […]

October 5
2008

ForexGen MetaTrader Broker with Shady Reputation

ForexGen, which began to operate on-line in 2006, is a Forex broker that offers quite interesting trading conditions, including MT4 platform, spreads as low as 0 pips and no overnight swaps. The spreads on the major currency pairs go do down to 1 pip for $5,000 and bigger accounts and decline to 0 for accounts starting from $50,000. Leverage also varies depending on the trading account size — from 1:200 to 1:500 for mini and micro accounts, […]

October 4
2008

Forex Technical Analysis for 10/06—10/10 Week

EUR/USD trend: sell. GBP/USD trend: sell. USD/JPY trend: sell. EUR/JPY trend: sell. Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.2591 1.3147 1.3458 1.4014 1.4325 1.4881 1.5192 GBP/USD 1.6605 1.7078 1.7396 1.7869 1.8187 1.8660 1.8978 USD/JPY 100.08 101.79 103.55 105.26 107.02 108.73 110.49 EUR/JPY 129.92 […]

October 3
2008

Dollar Shows 5th Day of Gain Despite Employment Drop

EUR/USD continued to fall today for the fifth day in a row even as the employment reports from the United States showed a dramatic decline. It looks like the raging recession in U.S. is a real problem for everyone except the dollar. Maybe, because the traders prefer to convert into treasuries when the market turbulence is highly active. Non-farm payrolls declined by 159,000 in September following 73,000 drop in August. Market […]

October 2
2008

EUR/USD Below 1.3800 on Positive Bail-Out Expectations and Neutral ECB Decision

EUR/USD broke down below the 1.3800 support level today as the dollar was fundamentally more attractive than the euro. Traders expect that the $700 billion bail-out plan will be adopted in the House of Representatives soon after passing Senate yesterday. Meanwhile, European Central Bank left the interest rate unchanged at 4.25%, which spurred talks that the rate may be lowered at the next governing […]

October 1
2008

EUR/USD Falls Despite ISM PMI Drop

EUR/USD continued to fall today after the yesterdays record-breaking decline, despite the unexpectedly low reading of the influential ISM purchase managers index. EUR/USD broke the technical and psychological support line at 1.4000 during the trading session, but then return to the levels above and is now trading near 1.4004. ADP employment report showed that the employment decline slowed down from 37,000 from July to August […]