Blog – Page 70 – The Plot

April 24
2015

Calculate Maximum Potential Loss in MetaTrader

If you ever wondered what is the total cumulative risk of your currently open orders and positions, then my latest MetaTrader tool — Risk Calculator — will help you to answer that question even if you have many orders with interwoven stop-loss and take-profit levels. Although, I am not a proponent of the grid trading systems, they seem to be quite popular. At the same time, it is nearly impossible […]

April 23
2015

EUR/USD Rises After Disappointing Thursday’s Data

EUR/USD rallied today as basically all the data from the United States was disappointing. Earlier, the currency pair was moving down as economic news from Europe was not good either. Initial jobless claims were at the seasonally adjusted rate of 295k last week, almost unchanged from the previous week’s rate of 294k, while analysts predicted a drop to 288k. (Event A on the chart.) Flash Markit manufacturing PMI fell to 54.2 […]

April 22
2015

EUR/USD Gives Away Gains After US Housing Report

EUR/USD was moving higher initially today but reversed its movement as of 9:45 GMT and continued to go lower after the positive report about existing home sales in the United States. As of now, the currency pair stuck near the opening level, trading sideways. Existing home sales rose to the seasonally adjusted annual rate of 5.19 million in March from 4.89 million in February, above the projected value of 5.04 million. It was […]

April 21
2015

Instant Execution vs. Market Execution

As you probably know, there are two kinds of orders in MetaTrader platform: pending orders and market orders. Pending orders can be either limit or stop and will be executed when the price reaches some predefined level. Market orders can be either of instant execution or of market execution. The execution type is set by a Forex broker and cannot be modified by a trader. Instant Execution When the instant execution is […]

April 20
2015

Forex Trade Entry Checklist

The aim of a Forex trading checklist is to prevent impulsive trading and accidental mistakes. An essential checklist for smooth execution of a basic Forex trading entry is presented below. Feel free to build on it and modify it according to your trading style: 1. Check the charts. Do they show anything resembling favorable entry conditions according to your strategy? 2. Identify the entry level. You should know the exact entry level. […]

April 18
2015

Forex Brokers Update — April 18th, 2015

One new company has been added during the week: Solforex — a New Zealand regulated broker with MetaTrader 4 platform and several account types — from simple $200 minimum STP to premium $10,000 accounts with extremely low spreads and commission for trading. Solforex Two existing brokers have been updated: Tallinex opened office in Estonia. Customer support is now available also in Russian language. The broker now […]

April 18
2015

Weekly Forex Technical Analysis (Apr 20 — Apr 24)

EUR/USD Floor pivot points 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res 1.0275 1.0398 1.0603 1.0726 1.0931 1.1054 1.1259 Woodie’s pivot points 2nd Sup 1st Sup Pivot 1st Res 2nd Res 1.0419 1.0645 1.0747 1.0973 1.1074 Camarilla pivot points 4th Sup 3rd Sup 2nd Sup 1st Sup 1st Res 2nd […]

April 17
2015

EUR/USD Struggles to Keep Going Upward

EUR/USD continued to rise today but halted its rally and is now struggling to keep its gains. Economic data from the United States and the eurozone was mixed, giving no edge to the currency pair. US CPI increased 0.2% in March on a seasonally adjusted basis, at the same rate as in February and in line with expectations. According to the preliminary estimate, Michigan Sentiment Index rose from 93.0 in March to 95.9 in April, far above […]

April 16
2015

EUR/USD Continues March Upward

EUR/USD extended its upward move during the current trading session as most of today’s economic reports from the United States missed expectations. The better-than-expected manufacturing indicator made the currency pair pause the rally, yet it looks like the euro is ready to resume its march upward against the dollar now. Housing starts and building permits for March came out weaker than market participants were anticipating. Housing starts […]

April 15
2015

EUR/USD Rescued After Initial Drop

At the start of the Wednesday’s trading session EUR/USD was moving down, and it looked like the Tuesday’s rally had come to an end. Yet the euro was rescued by yet another set of worse-than-expected economic indicators released from the United States. This allowed the currency pair to rebound. The European Central Bank made no changes to its monetary policy during its meeting. NY Empire State Index demonstrated a reading of -1.2 in April — […]