Overview MQL5 Market – service for buying trading robots
The MQL5 Market is a service solely intended to sell and purchase various products like trading robots, scripts, indicators as well as other trading products. Readymade applications are offered by this particular service which is highly essential for financial market.
Few detailed information
The MQL5 Market is the trading service used for trading terminal MetaTrader 5. The Company MetaQuotes Software Corp. supplies the world’s leading trading platforms and specialises in the software development. No matter how demanding a customer is, this service provides a wide range of programs which includes the easiest and efficient solutions. Two kinds of products are available in this service. One kind is the products which are free and the other kind has to be obtained by paying a certain amount. The programs can be categorized on other parameters like fame, popularity, usage, quality etc. Every detailed description along with the screen shots is also provided.
The MQL5 Market runs on some basic strict principles and rules. Registering for the service is the primary and the imperative step to start with the whole procedure. The payment system is also marked by few rules and the customers need to abide by them for any kind of payment and money transactions, the information of which is then sent via a text message in the mobile. Few features included in this service are Strategy tester, visual testing, forward testing, optimization etc. All these features are there to enhance the user friendly nature of the service where the customers can obtain the demo version of certain program and also can examine the program meticulously according to his need.
There lies a trading terminal space for every individual customer and every application purchased and paid by them will instantly appear on this page. Proper contact information and identification must be provided by the customers before registering to the service. A unique installation code is provided too, which runs only on the particular customer’s personal computer.
The MQL5 Market has few basic advantages that are primarily thought to be the main source behind the fame of this service. The first and the foremost point is the wide variety of the software products and application that is supplied by this service. Secondly, the user friendly nature of this service makes the new customers feel at ease and thus use the service more effectively. Thirdly, a full description and knowledge about the product a customer plans to buy is given so that there is no regret or hesitation afterwards. By doing so the clarity of the service is maintained and makes it more appealing to the users. Lastly, the whole process from the very initial level is very simple as well as easily understood by any level of customers and users.
The MQL5 Market service is one of the recent upcoming application providers who have not only found a strong base for their activity but has also proved to be of excellent quality over the past few years.
If you lived in the United States before the year 2000, the thought of yellow and orange-jacketed traders screaming at the top of their lungs across a rainbow of other-colored jackets, slips of paper flying everywhere, is probably something you associate with markets and exchanges. These stressful environments were synonymous with the notion of markets. Emotions ran high, and depending on the exchange – one may even be risking their own personal safety by entering ‘the floor.’Times have changed quite a bit; many exchanges exist only in cyberspace, no longer seeing the need for physical manifestations of their trading activity. Even the New York Stock Exchange; have you seen it lately? If not, just turn on CNBC, it's not like it used to be (quite a bit more quiet these days).But one thing that hasn’t changed is the fact that people love fast markets. Only now they mostly exist through the Internet, and now they are available to anyone willing to risk their money – not only the select few that could afford or draw on family connections for a ‘seat on the floor.’ When a big news event happens; or even perhaps a news event driven by an economic catalyst, like the 2008 Financial Collapse, markets can attempt to price in the newest data so fast that prices move at breakneck speeds. For the poor investors that are in long positions in mutual funds, the hope of stemming the bleeding before market close doesn't exist. They have to wait and watch the devastation until the end of the trading day so that they redeem out of their mutual funds.But to the trader that can take a short position just as quickly as ‘hitting the bid,’ these ‘panic’ periods present quite a bit of opportunity. Prices are moving fast and pips can stack up quickly – if you are on the right side of the trade. The big question is if this is something that fits in your trading plan?What type of trader are you?By many accounts – fundamentals and news events create price changes, thereby – fundamentals dictate what prices will do. Technical analysis on the other hand, analyzes past price movements, showing us what prices have done. And sometimes, what price has done in the past can help us build a game plan for the future; looking to those fundamental catalysts to create big price movements (the hybrid fundamental-technical trader).The alternative approach is the trader that analyzes those same past events, looking to avoid those fundamental catalysts, hoping that the technical levels from the past hold true (the technical-range trader).That’s really all there is. A pure fundamentals trader wouldn’t be looking at charts at all, and a ‘technical-breakout/trend’ trader would really be, in many ways, looking to fundamentals to continue substantiation of those trending/breakout conditions, so they wouldn’t really be a ‘pure technical’ trader.Considering the fact that ‘panic’ markets can create rapid price movements in a short period of time, which can just as easily work against the trader as it can for them, it behooves one to know as much about their risk profile before wagering their hard-earned capital.So, if you consider yourself a ‘pure technical’ trader, and have no interest whatsoever in following or keeping up with the news – I advise you to attempt to avoid panic markets. This can often be done by setting stops at major levels of support (or resistance in the case of short positions) so that when we do get those big breakouts – they don’t work against you too heavily.For all those that dare to tread in fast markets – read on; and we will share with you some ways that experienced traders approach these volatile scenarios.How to Trade Fast MarketsThe same question was broached in the article ‘How to Trade Forex Majors Like the Euro during Active Hours,’ and the recommendation to trade breakout strategies could not be more on point.As David shows in the article, increased activity often means larger and potentially more erratic price movements. And because these movements can be more erratic, it can greatly affect the trader’s ability to forecast price changes. The chart below, taken from the aforementioned article, shows how widely price swings can magnify on EURUSD during the London and the London/US overlap session (often considered the most ‘active’ period in the FX market). Now if we consider that panic markets often have an external stimuli; whether it be a natural disaster like what was seen in Japan in 2011, or a man-made disaster like what was seen at Bear Sterns and Lehman Brothers in 2008 – we have to know the market movements can be even more exaggerated, meaning price movements can become even more magnified, and forecasting can become even more difficult.Why trade breakouts to address panic?Because price movements can become greatly magnified while also becoming more erratic is the reason why trading breakouts is the best prescription for handling volatility. If we happen to be on the right side of the movement, price can trend for a continued period of time, giving us far greater potential profit targets if we are right. If we’re on the wrong side of the movement (which will probably happen more than half of the time), then we can cut our losses early before the pair continues against us in a move that could potentially drain our accounts.A critical aspect of trading breakouts is the necessity of strong risk-reward ratios, such as the trader risking 20 pips, but looking for 100 pips if correct. This could be expressed as a 1-to-5 risk-to-reward ratio (20 pips to the stop-loss order – 100 pips to the profit target = 1:5 risk-to-reward).This is what can allow rampant volatility to actually work in your favor.With a risk-reward ratio so aggressively on the trader’s side, one would need to be right only 2 out of 5 times to gleam a net profit. If a trader was right 40% of the time with a 1-to-5 risk-to-reward ratio, they could be looking at a handsome profit (2 winning trades at 100 pips each = 200 pips won, 3 losing trades at 20 pips each = 60 pips lost, net profit of 140 pips (200-60) not including commissions, slippage, etc).But what if the trader above was only right on one out of five trades? Well, they are still looking at a net profit (once again, not including spreads, slippage, etc). One winning trade at 100 pips only gives up 80 to 4 losers at 20 pips each, leaving a net profit of 20 pips; and that is with a winning ratio of 20%.How to Trade BreakoutsAn easy way of looking at breakout strategies is to simply think of ranges – and then reverse it.While range-traders look to buy support and sell resistance, breakout traders await breaks of resistance to buy (in anticipation of price continuing to rise now that resistance is broken) and looking to sell when support is breached (once again, looking for price to continue heading lower).There are numerous ways of identifying support and resistance levels to be used for breakout strategies. Some traders don’t even use indicators, electing, instead, to simply analyze and build their strategies off of price, and price action. Some traders rather use strategies based on indicators like Price Channels to point out these support and resistance levels. Many of the various Pivot Point offerings or Fibonacci studies can help in this same regard as well.Whatever the mechanism, it is important to realize that complete elimination of false breakouts is totally impossible. What often makes or breaks a breakout strategy is money, risk, and trade management.This is a hazard sport, as it can be a regular occurrence for price to break support (or resistance) briefly enough to trigger our, only to pop back into its prior range. This can be frustrating for breakout traders, and has even earned the title of the ‘false breakout.’This topic was explored in greater detail by Walker England in the article ‘Can False Breakouts be Prevented?’Not to spoil the article, which you should absolutely read, but the answer to the question is ‘No.’ False breakouts, unfortunately, cannot be prevented.To the trader looking to be more conservative, additional ‘wiggle room’ can be given to the entry in an effort to attempt to decrease the chances of caught by a false breakout.But preventing false breakouts is impossible due to the simple fact that no trader in the world knows what will happen next. So when trading panic markets, protect your trade, protect your account, and trade your plan.
If you want to stop practicing bad trading habits and develop a healthy trading routine, this article is just for you! Why Are Trading Habits Important? We all have heard that “Practice makes perfect”... But can we really become successful traders by practicing bad trading habits? The truth is that practice is vital as it helps us develop trading habits. Take any great athlete, for example! They also repeat the same routine over and over again until it becomes an automatic reaction of their bodies. Even if you don’t want to think of yourself as a creature of habit, experts reveal that more than 45% of our daily activities are habit-forming and automatic. As such, habits play a crucial role in life and help us function, allowing us to concentrate on novel and complex tasks. Imagine thinking over and over again whether or not to turn on your computer every time you are about to start trading forex! Simply a waste of time and resources that can be used to execute a trade instead, right?! Why Are Bad Trading Habits Bad? While practice is vital to help traders establish trading habits, what will happen if you keep repeating the wrong things over and over again? Having poor knowledge and repeating the same mistakes won't lead you to progress no matter how many hours you spend practicing. The key here is repeatability. Experts claim that it’s the continuous repetition of bad money habits that causes such bad habits to become deeply rooted. In fact, developing bad habits early on can cause big problems in your trading career. Imagine if greed becomes ingrained in your trading plan! A real recipe for financial disaster! So instead of burying yourself in wrong trading practices, start breaking your bad trading habits. But Why Is It So Hard to Stop Practicing Bad Trading Habits? Just like any bad habit, including nail-biting and procrastinating, bad trading habits can be detrimental. But how can we stop practicing bad trading habits? It’s easier said than done, we know! Breaking bad habits and developing a healthy trading routine can be really hard. The main reason is rooted in the brain. When we find a rewarding activity, we start practicing it over and over to feel good. Take smoking, for example! Any pleasurable activity can create a new neural pathway in the brain. In order to feel good, we keep craving for activities that follow that pathway; slowly such behavioural patterns become ingrained and hard to change. To stop practicing bad habits, traders - including forex newbies - have to identify their bad habits and the so-called habit loop. In other words, one has to identify triggers, behaviours, and reinforcing rewards. How?, you may ask. How to Stop Practicing Bad Trading Habits? Wondering how to stop practicing bad trading habits? How to stop checking your social media feed instead of catching up on the latest forex trading news, for example?! The easiest way is to create a new habit; a new habit that can replace your old one but still meet your needs. When you find a substitute for your bad trading habit, visualise yourself succeeding and avoid negative self-talk. It’s not about becoming someone else but creating a positive mindset. When it comes to forex trading, for instance, one has to see success as their ability to be consistent and to follow a trading plan; not as their ability (or sometimes pure luck) to make a profit. Here are some tips that can help you stop practicing bad trading habits: 1. Start with the Basics of Forex Trading To stop practicing bad trading habits, you have to start with the basics. Like most things in life, you can't master a topic without thoroughly exploring the fundamental principles behind it. In the world of forex trading, for example, before you start making large trades and placing large sums of your cash flow on a single trade, you need to understand the very fundamentals that constitute trading. This includes things like common trends and chart patterns, currency correlations and general economic trends, and so on and on. From books and online courses to webinars and social network groups, traders should invest enough time and resources in proper trading education. Once you’ve comprehended how forex trading works, only then can you begin forming strategies on how to properly trade currencies and potentially make stable long-term gains. Let’s mention again that consistency is the key to success: numerous small gains over a certain period are more valued than large one-off wins. After all, forex trading is not gambling or a get-rich-quick scheme, so you shouldn’t rely on luck and leprechauns. 2. Use Virtual Funds in a Real-world Trading Environment The second solid trading habit you should be following to replace a bad trading habit is to regularly test your skills in a risk-free but realistic environment. To put it simple, instead of making trades with your actual cash flow, you can use demo accounts with virtual funds. These test areas are anything but straightforward. Moreover, demo accounts usually allow you to trade live, so there is no way to know what will happen. To make this a truly great habit, you will need to regularly revisit these demo accounts to improve your long-term abilities. Virtual trading can help you develop skills that you can’t simply forget about. At the same time, as virtual trading doesn’t come with real money and emotions, demo accounts can play a bad joke on you. Thus, when you acquire enough skills, do not hesitate to dive into the world of real forex trading. 3. Follow Your Own Forex Trading Rules To stop practicing bad trading habits, you have to establish strict rules and self-control. From placing stop-loss orders to taking breaks between trades, you should be consistent in setting your own rules. When it comes to consistency, always stick to your trading plan and risk management strategy. Here we should note that experts claim that one should never place more than 1% of their account on a single trade. Even if you get tempted, remind yourself there’s no place for impulsiveness in trading. No, trading forex and impulsiveness are not a good pair. Take a break between trades if needed to stop yourself from executing unplanned moves. 4. Stay Positive No matter what happens, positivity is the key to changing habit-forming behaviours and breaking bad trading habits. Believe it or not, trading psychology is a big deal! Embrace that trading comes with risks and losses, and stop seeking immediate rewards. Ditch your impulsiveness and stay positive about the fact that you can change your trading habits and mindset. It will take time, but don’t worry! You can even reward yourself for being persistent. Grant yourself a small reward for following your trading plan, for instance! How about buying a forex trading psychology book or some chocolate? 5. Understand Your Emotions Behaviours, emotions, and cognitions are all mixed in one, so it’s vital to recognise your emotions on your journey to trading success. Breaking bad habits will come with a lot of frustration, anger, impatience, and even overconfidence, so make sure you understand how forex trading makes you feel. Even if you are not an expert in trading psychology, you should become an expert in your own trading routine. As stated earlier, healthy habits are vital to help us function and potentially make a profit. Do not allow greed, fear, or overconfidence to guide your moves. To help you feel more at ease, experts advise to trade only money you can afford to lose. 6. Seek feedback When you decide to change your bad trading habits, do not be afraid to seek feedback. Okay, okay, we know that the fear of failure often stops us from seeking feedback. For instance, people rarely tell other people that they’ve started exercising. Why? Simply because they think they’ll fail and will be mocked about their inability to be persistent. However, seeking feedback is a key part of your learning process. Though the nature of forex trading makes it more of an isolated experience, seek help and learn from the best. This could be from a friend, relative, or even a paid coach. In fact, seeking feedback is one of the best habits that can make you a truly successful forex trader. If it’s unlikely to have someone else with you in the room when you are executing trades, you should go through your own trades and offer personal feedback. Keeping a trading journal, for instance, can be highly beneficial. 7. Be Patient Even if you are committed to creating a healthy trading routine, do not forget that breaking bad habits requires a lot of patience. We can’t change our biology fast, after all. As Warren Buffet said, “Successful investing takes time, discipline and patience.” Remind yourself of the benefits of your new trading routine and give yourself at least a month to see the fruits of your new trading habits. Here we should note, according to science, it might take between 18 and 254 days (66 on average) for a new behaviour to become automatic. It’s worth waiting because trading habits can become success habits! At the same time, plan for failure. Be prepared not only to lose money but to lose yourself on your journey to success. When you notice that you might be slipping back to old habits, reassess your emotions and moves, and give yourself some more time. It’s not only the trade that’s your friend... but patience! 8. Stay Healthy Healthy habits go hand in hand with a healthy lifestyle. We are not talking about going on a diet or quitting sugar, caffeine, or nicotine. We all have our little secrets. Yet, try to stay healthy; exercise, connect with nature, and try to get enough sleep. Treat yourself and use your free time to the fullest. Also, do not forget that trading should not become an obsession. Try to find a balance between work and personal time and always dedicate enough time to your loved ones. Rounding Off At Trading Education, we recommend these good habits as a solid and fundamental way to build up a successful career in forex trading. Yes, practice is a vital part of learning, but there is no place for practice without a healthy routine. These guiding principles can help you build a healthy trading structure: - Always go back to the basics to ensure you understand the fundamentals of forex trading patterns. - Use demo accounts and virtual environments to test your knowledge, especially in fluctuating markets. - When you start trading, be consistent and stick to your trading plan and risk management strategy. - Find a mentor with more experience than you, a mentor who can offer you constructive criticism and feedback regarding your trading patterns. - Changing bad habits requires a lot of patience and may come with many intense emotions. Thus, try to analyse your emotions and stay positive. Give yourself enough time to change and even be prepared for failure. - To have a healthy trading routine, one has to stay healthy. Find a balance between trading and personal life; simply because success is not measured only in money!
What is a currency index:An index of a currency is the trading volume or trading weight value of the currencies of other countries at a higher rate than the currencies of one country. Which has been the official forex base currency since 1973. So the highest base currency is the USD whose indexing calculation can be used to measure the value of the Ananya currency. So in today's currency index discussion the index currency is USD i.e. USD index USDX.The USDX is calculated with the trading value against the USD of the currencies of 22 countries over a total of 8 major currencies.The currencies are:Euro (EUR)Yen (JPY)Pound (GBP)Canadian dollar (CAD)Krona (SEK)Franc (CHF)Now the question is how to include 22 countries in 6 currencies? Yes, we know that there are 16 countries in the European zone, all of which have a single currency, the EUR, and the USD has a trending value against the single currency of Japan, Britain, Canada, Sweden and Switzerland. The simplest thing is to find out how much the USD is running against different currencies, which is called Indexing, since we will find out the index of USD, so it is called USDX.USDX Currency Country:Let's find out now which currencies are most involved for USDX i.e. how much of which currency is USDX for trading. Notice the image below: The EUR is a huge part of the figure for USDX. In second place is Japan, followed by Great Britain. Thus you see a ratio of country-based currencies, with 50% of USD currency trading and more trading against the EUR. The remaining 30% off the chart is traded with unique currencies. The EUR plays the most important role for the USDX dollar and the USD is the most affected by the EUR. That is why USDX is called "Anti-Euro Index". The USDX is not calculated in the Forex market, but rather the large financial institutions that are there calculate the USDX to balance their trade or economy according to their needs. Since USDX is a global concept, many financial institutions use this formula to keep their economies afloat or to conduct business accordingly. One such institution is the Federal Reserve. They calculate the USDX as "trade-weighted U.S. dollar index". Hope you got a good idea about USDX.USDX Formula:USDX = EUR * 0.576 x JPY * 0.136 x GBP * 0.119 x CAD * 0.091 x SEK * 0.042 x CHF * 0.036· When the USDX starts to fall, it means that the exchange traders are selling the USDীত Conversely when USDX starts to rise then exchange traders start to buy USD.How to read USDX chart:The USDX chart is a type of chart similar to the unique currency chart whose index is calculated on a daily and weekly basis. In this case the INDEX General value of 100.00 is calculated on a Base basis. For example, when the USDX goes up, the USD value increases. If USDX is 110 then USD value increases by 10%. Again when USDX falls to 90 then USD value decreases by 10%. Remember that since we are talking about USDX, its reflection will be around the USD currency, which is why I see the reflection of USDX rising or falling, but in my USD currency. So far the USDX level has reached a high of 160 and a low of 78. Why useঃAs mentioned earlier, the trading weight of USD can be measured with a unique currency through the USD Index. Since the combination of many currencies is USDX. So it is possible to forex those currencies through USDX. The effect of the strong or weak behavior of the USDX chart plays an important role in the forecasting of unique currencies. Just as we use Support and Resistance, Candlestick pattern, technical analysis or various other strategies in the case of trend lines and price forecasts, the trending trends of those currencies can also be understood through the effect of USDX or the flow of this chart.How to use: Since the index chart of USDX is EUR / USD, GBP / USD, USD / CHF, USD / JPY, USD / CAD based on trading volume. The trading strength of all these currencies against USD is USDX. So notice that when the trend is down in the EUR / USD daily chart, the trend is reversed in the USDX chart. This time look at the EUR / USD Daily Chart If you consider the above two charts, you will see that they are slightly opposite to each other. Because we already know that the main traded currency of the USDX chart is EUR so this currency hits the USDX chart more. Thus the next movement of the charts is predicted according to the country based and the traded volume of USD with their currency.Currency co-relation needs to be discussed to clarify this issue. And different Currency Strength Indicators are used to get their Forecasts by combining unique currencies with USDX. Understanding the currency co-relation will get you magic on how 4-5 currency charts create a reverse trend against a USDX chart. Today I tried to give a good idea about USDX. We will discuss currency co-relation in detail in the future. You can see the USDX chart in your Meta Trader, in which case you need to use two indicators.First download the USDX indicators below from attached files:1. Copy to your Meta trader \ experts \ indicators.2. This time open Meta Trader and bring the Create $$ USDX indicator to the EUR / USD chart and enter the timeframe value in the time frame in which you want to view the USDX chart from the Input variable, 15M, 30M, 45M 1H as desired.3. Go to Open offline from the File menu and bring the chart you created. (Originally written offline chart and it is but live chart) Thanks.