Forex grid trader v 1.0

Make sure you remember these. Write your login details on a piece of paper and then store it away safely! These credentials are the entry key to your trading account. After you do this, most Metatrader brokers are likely to ask you for a copy of your ID and also provide you with the terms of use.

Get your smart phone, take a picture of your ID and send it to your account manager, who requires the confirmation. Now that you confirmed your registration and provided your ID information, you will need to make a deposit into your Metatrader trading account. Deposit Funds in your Metatrader Account There are several choices that you will have for depositing funds with your forex broker. When you create this account, it gets connected to your trading account at the MT4 trading platform.

This is where all your open trades will be displayed. In addition, your Balance, Equity, and Free Margin will show in real time as well. How to Use the Metatrader 4 Platform So, after you have installed the MT4 trading platform, this is what you are going to see on your monitor: This is an example of a ready-to-go Metatrader 4 platform, which has now been setup and funded. You will notice numerous buttons at the top of the MT4 trading platform. When you click on these buttons, your chart will be automatically converted into the desired timeframe.

Click Here To Join The two magnifying glasses above are used to zoom in and zoom out the trading charts without changing the trading time frame. The three buttons on the left of the magnifying glasses are the three different Metatrader charting options — Bar Chart, Japanese Candlestick Chart , and Line Chart. At the left side of the chart timeframe buttons you have a few basic drawing tools, which are frequently needed when performing technical analysis.

These are: vertical line, horizontal line, trend line , price channel, Fibonacci retracement and some image labels. If you right click on the chart window you will see various options to customize your trading platform. Here you should take some time to personalize the settings that best suit your preferences. This way you can instantly open trades at a preliminary decided size lots.

On the left side of the Metatrader terminal you will see the live Market Watch red rectangle. Note that these are not all the available trading symbols offered by your broker. This will display all the available financial instruments of your broker. It is important to mention that the Market Watch window is another place to open trades from. You can pick symbols from there and then by right clicking on your mouse, it will allow you to get options for each of these financial assets.

See the image above for details on this. Opening a Trade on Metatrader 4 Now that we have discussed the basic functions of the MT4 Forex trading terminal, I will now show you how to open real trades. In order to buy or sell a currency pair , you can use one of the options we mentioned above. The same can be and usually is done with the short side, creating a grid of short and cover orders. An investor needs to set several parameters to automate the system. These parameters include the highest price, the lowest price, grids themselves, position sizing and stoplosses.

The highest price and the lowest price of the grid are usually set based on the recent historical price range, i. The parameters are thus based heavily on the past volatility of the currency pair. Next, the grid tells us how many pending orders are placed within the set price range. When setting the grid, we have to take into account the transaction fees. The grid should not be too dense; otherwise, the profit may not be high enough to cover the transaction fees. Lastly, the position size is the money amount or account fraction a trader uses to perform grid trading.

Favorable scenario The following picture shows a favorable scenario of a grid trading strategy. We start at the grey line, which represents our starting price. We place the first buy order when the traded currency reaches the first red line grid.

Because the price of the currency pair decreases, we place the second, third and fourth buy order as we reach the second, third and fourth red line grid. Because we passed our pre-set lowest price, we do not place any more buy orders, even though the trading currency decreases further. As the currency increases, we start to place sell orders.

We place a sell order when the price increases to one and a half grid length from the price where we placed the buy order. Additionally, we can do inverse actions as the value of the traded currency increases and reaches the green lines. For example, we can open a short position each time we pass a green line and close it when the currency decreases to one and a half grid length from the price where we opened the short position, as illustrated in the following picture.

As you can see, this type of strategy relies on the assumption that the prices will oscillate during the day. This price has to be lower than the lowest price. If the trading currency price falls to the Stop Loss Price, the system will trigger a stop-loss operation which sells all open buy positions in an account. This operation prevents higher losses caused by falling prices of traded currencies. Another popular option includes setting also the trigger price.

A switch, which allows trading to be turned on only when the market price of the trading currency reaches the trigger price. Moreover, there are two grid types: arithmetic and geometric. Therefore, this grid type is more suitable for smaller price ranges. On the other hand, the geometric grid, which is more suitable for larger price ranges, generates the same rate of return for example, 1. This means, that the strategy increases risk and leverage with increasing losses unless a stop-loss has been hit.

Modern position sizing and money management techniques usually work exactly in an opposite way — i. The environments in which grid trading strategies literally thrive are price ranges, oscillations and sideways markets. Grid trading is an ideal strategy for such periods. On the other hand, the grid trading strategy easily becomes unprofitable if the markets trend persistently.

There are two ways to report the results of this strategy. Or you can report the portfolio value only when a trade is closed. This is caused by the way grid trading strategies work. The only trades that are closed during the day are the winning ones.

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