Blog – Page 307

July 10
2008

Handling OrderSend Error 131 in MetaTrader 4

OrderSend Error 131 is a very popular problem that is usually encountered when testing MT4 expert advisors. What causes this error? Its called ERR_INVALID_TRADE_VOLUME in the MT4 code. That means that your expert advisor is trying to send an order with invalid trade volume. On the absolute majority of the MT4 brokers setting some EA to open an order 0.123 lots will generate this error. But sometimes its generated when the EA, created for mini or micro accounts, is used on the standard account. […]

July 8
2008

Dollar Gains on Growth in Wholesale Inventories, Bad Report on Housing and Bernanke’s Speech

The EUR/USD currency pair declined today before and after the macroeconomic releases that were scheduled for today and even after the speech by the Feds Ben Bernanke. In his speech Bernanke said that he will prolong the emergency-loan program for the banks into 2009. This will probably mean less interest rate hikes as it would be hard for the FOMC to raise rate […]

July 6
2008

Forex Technical Analysis for 07/07—07/11 Week

EUR/USD trend: sell. GBP/USD trend: sell. USD/JPY trend: buy. EUR/JPY trend: hold. Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.5352 1.5503 1.5605 1.5756 1.5858 1.6009 1.6111 GBP/USD 1.9531 1.9662 1.9743 1.9874 1.9955 2.0086 2.0167 USD/JPY 103.59 104.29 105.54 106.24 107.49 108.19 109.44 EUR/JPY 163.11 […]

July 6
2008

Carnival of Forex Trading — July 6, 2008

Everything Finance presents Five Online Resources for Forex Beginners posted at Everything Finance. Heather Johnson presents Five Online Resources for Forex Newcomers posted at MojoStock. Neelakantha presents 8 Ways the Bush Administration Has Caused the Oil Price Boom posted at Currency Trading.net. Alvaro Fernandez presents Your Brain On Trading 101 posted at SharpBrains, saying, «A trader and neurologist introduces us to the world of the Brain […]

July 3
2008

Early Nonfarm Payrolls Help Dollar Despite Bad Data

EUR/USD fell sharply today paring the weekly gain as the employment statistics in U.S. was released. Not only employment figures disappointed market participants, but also ISM services index declined faster than expected in June. But for some strange reason that supported the U.S. dollar and it showed the fastest daily gain since April 24. EUR/USD declined from 1.5890 to 1.5695. Nonfarm payrolls […]

July 2
2008

Dollar Goes Down on Job Losses

EUR/USD grew today to its monthly maximum and remained well above the yesterdays close level after the bad data on employment was released in U.S. today. Other economic releases failed to support the dollar today. ADP employment report surprised markets with 79k drop in jobs in June, whereas the forecast was a 40k decline. This was the first drop in employment since February according […]

July 1
2008

Dollar Holds Steady on Construction and PMI

The dollar traded with an elevated volatility against the euro today, going both high above the opening level and diving down below it. The overall fundamental background is positive for the greenback today. Yesterdays report on Chicago PMI index also supported the U.S. currency. Currently EUR/USD is trading near its open level at 1.5754. Total construction spending in May was down 0.4% after […]

July 1
2008

Automated Trading Championship 2008 Open for Registration

MetaQuotes Software is organizing its third yearly automated trading championship (basically a contest of the expert advisors). There are three sponsoring Forex brokers this time — FXCM, Interbank FX and FXDD. The total prize funds are $80,000 with $40,000 going for the first place, $25,000 — for the second one and $15,000 — for the third. The registration for the championship opened today, July […]

June 30
2008

Another MetaTrader Broker — FastBrokers

Another broker supporting the MetaTrader 4 Forex trading platform took its rightful place in my list of brokers. This broker is called FastBrokers. Its not a very new on-line broker — according to the Wayback Machine FastBrokers is on-line since 2006. Its head company is Fast Trading Services LLC, which is registered with NFA and CFTC. As a payment method they support PayPal, credit cards and, of course, bank wire. These factors combined […]

June 28
2008

Forex Technical Analysis for 06/30—07/04 Week

EUR/USD trend: sell. GBP/USD trend: sell. USD/JPY trend: buy. EUR/JPY trend: buy. Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.5253 1.5360 1.5576 1.5683 1.5899 1.6006 1.6222 GBP/USD 1.9341 1.9464 1.9706 1.9829 2.0071 2.0194 2.0436 USD/JPY 102.65 104.25 105.20 106.80 107.75 109.35 110.30 EUR/JPY 163.89 […]