Nov
17

Free Download of MetaTrader 5 (MT5)

aparsai on November 17th, 2009

I have posted a short article which helps in downloading and installation of MetaTrader 5. Click here to visit the article. You may then post your comments and/or questions below.

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MetaTrader 3 Comments »
Aug
3

An EA that Deals with the FIFO Rule

aparsai on August 3rd, 2009

If you are trading with an American Forex broker you probably know that there are some restrictions that NFA has imposed on your trades. The main restriction or rule prevents you from hedge trades. It means that you cannot enter long and short trades on the same currency pair at the same time. The other restriction says that if you enter multiple trades on the same currency pair and in the same direction you always have to close the first trade first. This rule is called FIFO or First-In-First-Out.

For example if you enter two long trades on EUR/USD and the second trade reaches its SL or TP you cannot close it. Instead you have to close the first opened trade.

I have developed an Expert Advisor for MetaTrader that enables you to enter multiple trades on the same currency pair and even assign Stop Loss and Take Profit to them. However, when one of the trades reaches its profit or loss target the EA closes the first trade. Since SL and TP are hidden you won’t encounter any problems with your broker.

Click here for more information about this EA and to download your free copy.

Please place your comments below.

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MQL, MetaTrader 1 Comment »
Jul
19

Closing Open Trades Visually

aparsai on July 19th, 2009

Have you ever wondered how you could visually close the trades without placing Stop Loss or Take Profit Levels on the broker’s server. The Visual_Trade_Closer is an Expert Advisor that addresses this problem. With this MetaTrader 4 Expert Advisor you can use two lines on the chart as your exit points. The EA draws the lines automatically. However, you may move them to the proper locations later.

Visit http://www.forexbrace.com/content/view/231/52/ to watch a video about this EA and download your free copy.

You may later add your comments below.

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MetaTrader 2 Comments »
May
13

I Will Be Back Soon!

aparsai on May 13th, 2009

I haven’t posted any articles or videos in the past few days due to high workload. I will hopefully overcome this situation very soon and will publish more articles in the near future. Meanwhile I would like to thank everybody who has joined us and sent me emails.

Cheers

8ta2q4zfm6

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General Discussion No comments »
May
5

OCO (One Cancels the Other Order) for MetaTrader 4

aparsai on May 5th, 2009

I have developed an EA that enables you to visually place two pending orders in MetaTrader 4. As soon as one of the pending orders is filled the EA closes the other pending order.

Since this EA is visually interactive with the trader you may easily place pending orders or correct their levels. The EA is capable to place any of the following orders depending on the location of the EA horizontal lines.

  • Buy Stop
  • Buy Limit
  • Sell Stop
  • Sell Limit

Click here to watch a video about the EA and download your free copy.

Click here to see a discussion around this EA.

You may add your comments below.

Cheers

Al

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Forex, MetaTrader 4 Comments »
Apr
26

Three Black Crows a Candlestick Pattern

aparsai on April 26th, 2009

Three Black Crows is a bearish candle pattern by default. This article explains the pattern and includes a free indicator to locate the pattern in MetaTrader. Click here to read the article. You may then add your comments below.

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Candlestick Training No comments »
Apr
24

Three White Soldiers Candle Formation

aparsai on April 24th, 2009

I have published a lesson that discusses three white soldiers candle formation and its variations. The lesson also includes a free indicator to locate this pattern in a forex chart. Click here to study the lesson and download the indicator. You may then add your comments below.

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Candlestick Training, Forex No comments »
Apr
20

Candlestick Formations Tweezers Top and Tweezers Bottom

aparsai on April 20th, 2009

There are many candle patterns that could be a sign of reversal. One of those are Tweezers patterns (Tweezers top and Tweezers bottom). Click here to study a tutorial about this pattern. The lesson includes a free custom indicator as well. The indicator locates Tweezers in a MetaTrader chart. Please add your comments below.

Thanks

Al

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Candlestick Training No comments »
Apr
17

Free Candlestick Tutorials (Candle Charting and Formations)

aparsai on April 17th, 2009

If you are looking for free candlestick tutorials then you may visit our free candlestick training page. I have developed several lessons that explain candlestick charting basics and also candle formations/patterns one by one. Click here to see the list of lessons.

If you are not familiar with candlestick techniques then you may also click here to watch an educational video about this interesting subject in trading. My focus is on Forex trading but the lessons apply to all other markets as well.

Here is the list of the first 15 candle lessons. You may click here for the complete list. I usually publish 1 or 2 lessons every week. You may join our mailing list to be informed about our new lessons. All of the lessons and indicators are free of charge.

Lesson 01: An Introduction to Candlestick Charts

Lesson 02: Umbrella Lines – Reversal (Hammer and Hanging Man)

Lesson 03: Doji Candles – Part 1

Lesson 04: Doji Candles – Part 2

Lesson 05: The Spinning Top Candle

Lesson 06: The Engulfing Pattern

Lesson 07: Dark-cloud Cover

Lesson 08: Bullish Piercing Formation

Lesson 09: Window – Falling and Rising

Lesson 10: Morning Star a Bullish Reversal Pattern

Lesson 11: Evening Star a Bearish Reversal Pattern

Lesson 12: Shooting Star a Bearish Reversal Pattern

Lesson 13: Doji Star a Reversal Pattern

Lesson 14: Inverted Hammer Bullish Reversal

Lesson 15: Harami

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Candlestick Training, General Discussion No comments »
Apr
16

Trendline Trader

aparsai on April 16th, 2009

Do you consider yourself a trader who uses a trendline to make decisions about the direction of the trades? If your answer is yes, I’d love to hear from your approach to trendline trading. For example it would be great if you answer any of the following questions. Meanwhile you may click here to see a tool that I have designed for this purpose.

  • Do you use bounces from trendline or breakouts from it?
  • Do you consider Elliot Waves in your analysis?
  • Do you use one or more indicators to filter or confirm trades? (for example Stochastic, RSI, MACD, or others)
  • Do you trade channels?
  • Do you consider candlestick patterns?
  • Do you use support and resistance levels to support your trade idea?
  • Do you use pivot points?
  • Do you use any specific technique that could be automated?
  • Do you trade trendline in Forex only or do you use it in other trades as well?

Please post your comments about trendline trading below. Any piece of information could be extremely helpful to me. If I get enough feedback from you then I’ll be able to develop a new Expert Advisor or Script for those who use this approach to trade. My goal is to publish the new tool for free on ForexBrace.com.

Happy Trading
Al Parsai

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Forex, General Discussion 10 Comments »