Thursday, October 8, 2015

Why is it possible that my executed price is not within the candle?

One of the possible reason is...
We get a better spread offered by the broker, compared to the default spread displayed on the MT4 chart.
In this case, look closely at the chart spread (default market spread) and price compared with “market watch” (spread we get) . “Market watch” is the one client gets. 
so in such case, chart BID price will be constantly 3 points lower than what we get. So if we are doing a BUY, which will be executed in ASK price, and we want to look at chart history highest ASK price, we get the candle highest price +3 points (due to tigher spread), then +30 points (due to FIX spread)

Below is another example of tighter spread compared to chart.


And to understand between how variable spread and fix spread gets its' BID ASK price. Refer to chart below.
compare "image 1" with "image 2", you will notice that if the variable spread moves, it is possible that the fix spread symbols doesn't move at all for both BID ASK price

image 1

image 2

Monday, May 25, 2015

MetaTrader 4 Client Terminal build 825

MT4 Build 825 started today 25 May 2015 (Monday)
Some broker was affected by the update. Their tick/ market did not start on time. If your MT4 build is still 765, don't worry, it will still work fine.

Below is some information provided by Metaquotes on client end new features.

MetaTrader 4 Client Terminal build 825
  1. Market: The new feature in MetaTrader Market allows providing products for rent for 1, 3, 6 or 12 months. This provides undeniable advantages both for developers and buyers. Sellers can significantly increase user confidence in their products, giving the customer a chance to thoroughly test the product functionality at a low cost. For buyers, the rent provides another opportunity to assess a product before purchasing it. Unlike demo versions, rented products have no limitations except for validity period.

    Any developer in the Market may choose whether or not to provide their products for rent, and what will be the cost of this rent.

    Developers may choose not to offer their products for rent and only sell full licenses for unlimited use.

    If rent is enabled for a product, its web page shows possible options: rental period and price. Click "Rent" and select the rental period.

    After expiration, you can further renew the product rental period or purchase an unlimited version of the product.
  2. Market: We are introducing a new mechanism of "direct" purchasing. Purchasing a trading robot or an indicator from the Market is now even easier, and you do not even need an MQL5.community account.

    One-Step Purchase
    A user doesn't need to log in to an MQL5.community account and add money to it. A payment for a product can now be made straight from the platform using one of the available payment systems. To maintain a clear and unified history of purchases from the Market, the required amount will be first transfered to your MQL5.community account, from which a payment for the product will be made.

    You can easily access and review all your payments from your MQL5.community Profile.

    Purchase without Registration
    A product from the Market can be purchased without an MQL5.community account. Click "Buy" and pay for the product using one of the available payment systems.

    Then you will be redirected to the payment system web page to complete your purchase.

    After that, we strongly recommend you to register an account on MQL5.community, and your purchase will be automatically linked to it. This enables you to update the product and install it on multiple computers.
  3. Tester: The Strategy Tester now allows testing not only Expert Advisors, but also indicators. This can be done in the visual testing mode. The behavior of the indicator is shown on a chart, which is plotted based on a sequences of ticks emulated in the tester.

    This feature is especially useful for the users who want to purchase an indicator from the MetaTrader Market. Before purchasing an indicator, you can download a free trial version and evaluate its backtest performance in the strategy tester.

    Select the type of the program - "Indicators", then select the indicator and click "Start".
  4. Hosting: Multiple improvements and fixes have been implemented in the Virtual Hosting service.

    The major changes apply to operation in Wine on computers running Linux and Mac OS. All the functions are available for allocated virtual servers in Wine, including migration, performance monitoring and logs.


    The operation of the Log has also changed. If a user requests too many entries then only part of the first logs for the specified period will be downloaded. This prevents performance degradation resulting from large logs. If you want to download further logs, you no longer need to change the request period. Simply select the last row in the log viewer window and press PgDn.

  5. Terminal: The Market Watch window now features the current spread of a symbol. Enable the spread information from the context menu.

  6. Terminal: Added filtering of news by categories. Now you can customize the list of news to your convenience. If a news category contains subcategories, an additional dialog can be opened from the context menu, where you can configure the list of news.

  7. Terminal: Fixed crash of the client terminal when canceling computer turn off in Windows 7.
  8. Terminal: The terminal interface has been further adapted for high resolution screens (4K).
  9. Terminal: Fixed display of the "One Click Trading" panel on the chart.
  10. Terminal: Fixed display of a graphical object set by a custom indicator, if the object is only to be displayed on some of the timeframes.
  11. Terminal: Fixed terminal freezing during Search in MQL5 programs.
  12. Terminal: Fixed drawing of Bitmap Label objects when using a .bmp file fragment.
  13. Terminal: Fixed display of filled graphical objects "Channels".
  14. Terminal: A new parameter DDE TIMESEC for sending quotes over DDE. This parameter allows receiving the quote arrival time to the nearest second.
  15. Terminal: Fixed an error that could occasionally lead to launch of multiple terminal instances from one directory.
  16. Terminal: Fixed occasional crash of the client terminal in Windows 10.
  17. Terminal: Added Thai, Malay and Slovenian translation of the interface. Updated translation onto German and Hungarian.
  18. MQL4: To provide higher flexibility in the interaction with various web services, a new form of the WebRequest function has been added. It allows sending requests of any type with a custom set of headers specified:
    int  WebRequest(
       const string      method,           // HTTP method
       const string      url,              // url address
       const string      headers,          // Headers 
       int               timeout,          // timeout
       const char        &data[],          // an array of the body of the HTTP message
       char              &result[],        // an array with the server response data
       string            &result_headers   // Headers of the server response
       );
    Error notifications have been modified. If an error occurs, the 'result' array will contain the description of the error.
  19. MQL4: New function GetMicrosecondCount returns the number of microseconds that have passed since the start of the MQL4 program:
    ulong  GetMicrosecondCount();
    This function can be used to profile program execution and identify "bottlenecks".
  20. MQL4: In order to prevent tested Expert Advisors from "looking into the future", the FileOpenHistory function is prohibited in the tester.
  21. MQL4: New signal property in the ENUM_SIGNAL_BASE_STRING enumeration - SIGNAL_BASE_CURRENCY which means the signal provider's deposit currency. The property can be received via the SignalBaseGetString function.
  22. MQL4: New chart property in the ENUM_CHART_PROPERTY enumeration - CHART_SHOW_ONE_CLICK which means the display of the "One Click Trading" panel on a chart. The property can be received via the ChartGetInteger function.
  23. MQL4: Fixed calculation of the indicator subwindow size when using #property indicator_separate_window.
  24. MQL4: Fixed Expert Advisor deinitialization errors when changing the chart template.
  25. MQL4: Fixed behavior of the CopyTime function. For example, before the update, CopyTime call for D1 from 23:00 December 1, 2014 to 01:00 December 3, 2014 returned three bars: December 1, 2, and 3 of 2014. After the update the function returns two bars: December 2 and 3, 2014.
  26. MQL5: Fixed access to offline charts from MQL4 programs.
  27. MQL4: Fixed operation of the SeriesInfoInteger function in the strategy tester.
  28. MQL4: Fixed the value returned by the ChartNext function during testing. This function does not work in the Strategy Tester, now its call returns the value of -1 instead of 0.
  29. MQL4: Fixed downloading of resources from EX4 files in the Libraries directory. Download of resources from library files did not work properly before the update.
  30. MQL4: Fixed occasional errors in the results of the ChartXYToTimePrice and ChartTimePriceToXY functions.
  31. MQL4: Fixed generation of CHARTEVENT_OBJECT_DRAG. Now the event is generated once dragging is completed, not at the beginning of it.
  32. MQL4: Fixed generation of CHARTEVENT_CHART_CHANGE in custom indicators when moving a chart.
  33. MQL4: Fixed use of global variables with long names (over 63 characters).
  34. MQL4: Fixed some bugs in the compilation of macros.
  35. MQL4: Fixed call of the DLL functions that return structures and strings.
  36. MetaEditor: Fixed formatting of variable descriptions in the drop down list of function parameters in MetaAssist.
  37. Fixed errors reported in crash logs.


Friday, April 24, 2015

Changing the installation path for the new MT4 installation


Recently the MT4 have simplified the installation process. Some people may not be able to change the installation path/ directories. To customise the installation directory, at the first step, just select "Setting" and you will be able to proceed.

Monday, February 9, 2015

How to calculate pips value

A "pip" is the smallest increment in any currency pair.  In EURUSD, a movement from .8941 to .8942 is one pip, so a pip is .0001.  In USDJPY, a movement from 130.45 to 130.46 is one pip, so a pip is .01.  How much in dollars is this movement worth, for example, per 10,000 Euros in EURUSD?  How much is one pip worth per 10,000 Dollars in USDJPY?   We will refer to the size, in this case 10,000 units of the base currency, as the "Notional Amount".   The formula for calculating a pip value is therefore:
(one pip, with proper decimal placement/currency exchange rate) x (Notional Amount)
Using USDJPY as an example, this yields:
  (.01/130.46) x USD10,000 = $0.77
  or 77 cents per pip
Using EURUSD as an example, we have:
  (.0001/.8942) x EUR10,000 = EUR 1.1183
But we want the pip value in USD, so we then must multiply EUR1.1183 x (EURUSD exchange rate):
  EUR 1.1183 x .8942 = $1.00
This is in fact a phenomenon you will see with any currency in which the currency is quoted first (such as EURUSD, GBPUSP, or AUDUSD): the pip value is always $1.00 per 10,000 currency units.  This is why pip (or "tick") values in currency futures, where the currency is quoted first, are always fixed.
Approximate pip values for the major currencies are as follows, per 10,000 units of the base currency:
USD/JPY:   1 pip = $.77;  In other words a change from 130.45 to 130.46 is worth about $.77 per $10,000.
EUR/USD:  1 pip = $1.00;  .8941 to .8942 is worth $1.00 per 10,000 Euros.
GBP/USD:  1 pip = $1.00;  1.4765 to 1.4766 is worth $1.00 per 10,000 Pounds.
USD/CHF:  1 pip = $.59;  1.6855 to 1.6866 is worth $.59 per $10,000.

You can also estimate your pips per value here: http://www.investing.com/forex-tools/pip-calculator
For standard acccount, 1 lot = 100,000 units

Traders who are still unsure, we encourage you to open test your trades on demo account, just do a 1 pips take profit and calculate accordingly.

Saturday, January 31, 2015

Keeping MT4 Password Secured

Traders have to be responsible to keep their MT4 password secured as broker cannot be responsible for trades that claims to be unauthorised.

Here is some tips:

Do use a combination of uppercase and lowercase letters and numbers.

Don't use "123456abc", the word "password123" or any of the other poor password examples shown above.

Do make sure your passwords are at least eight characters long. The more characters your passwords contain, the more difficult they are to guess.

Don't use a solitary word in any language. Hackers have dictionary-based tools to crack these types of passwords.

Do try to make your passwords as meaningless and random as possible.

Don't use a derivative of your name, the name of a family member or the name of a pet.

Do create different passwords for each account.

Don't ever write your passwords down and never give them out to anyone.

Do change your passwords regularly.

Update your software- Although sometimes annoying, these software updates often contain important security upgrades.

Don’t keep a list of logins/ passwords- You’d be surprised how many people carry around a list of passwords in their wallets or purses!

Install and use virus scanning software. Update this software at least once weekly. Consider a software that can detect and remove SpyWare and AdWare in addition to viruses and worms. You should scan your computer for "Malicious Software" (Malware) at least once per week.

Keep your computer locked and in a secure location. Know where your computer is at all times and don't leave it sitting out unattended in the library or other academic buildings. Investing in laptop locks or locking your desktop's case are both good ideas.

Switch to a more reliable web browser. More secure web browsers include Mozilla Firefox, Google Chrome, or Safari. Internet Explorer is NOT recommended. Many of the current security threats specifically target Internet Explorer.

Be careful of downloading and installing "free" software. These programs often also install malware on your computer without your knowledge. Even after the free program is removed, the malware often remains on your computer.

Beware of "phishing" expeditions. Do not respond to email messages requiring you to open a web site and provide personal information. "Phishing" scams often lead to Identity Theft.

Do not attempt to open or view email messages with attachments. These often contain malware and often even come from someone you know or trust.

Do not attempt to open or view unexpected files offered in your Instant Messaging program. These often contain malware and often also come from someone you know or trust.

Usual cases of password leak:
Personal attacks. Hackers can try personal information such as your name, family member’s name, or pet’s name or your phone number or address.

Insider attacks. Someone at work, maybe a co-worker, a visitor, or cleaning staff, can see it attached to your monitor or next to your keyboard.

You give it to someone. Once you give it away, you don’t know what they’ll do. They may write it down next to their monitor.

Tuesday, December 9, 2014

How to calculate Forex commission in per million

FXpro charges $65 per million if you are trading through their cTrader. Every broker charges differently. If it hard to calculate the fees at the end of the days as 10lot is not 1million. It depends on the currency and market price.
FXpro have a good reference to help you calculate: http://www.fxpro.co.uk/help-section/trading-calculator

Thursday, December 4, 2014

Will Forex Hedged Position be stopout?

You can hedge your positions, but be aware that your account equity must meet the margin requirements to be able to close one or more of the hedged positions. Fully Hedged accounts are not immune to Stop Out. If your account equity reaches Zero level or below for any reason (Such as wide spread on news or swap deduction), your open positions will be closed automatically. Broker has the right to close all or part of the hedged positions in order to avoid the possible risk of negative balance due to wide spreads; this may apply on Accounts maintaining big amount of hedged positions with very small equity.