Month: March 2016

Programming, Products & Research for Traders

Blatant Price Manpulation by Market Makers

A short while ago I wrote about the differences between the two main forex broker types, namely ECN brokers and Market Maker or Single Counterparty Brokers (see here). At the time I said that the problem with a Market Maker broker is that they’re taking the other side of your trade and hence there’s a…
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Metatrader Tip: Code for Cancelling All Pending Orders

There’s a rather nasty “gotcha” that one has to look out for when working with MetaTrader. It’s to do with iterating through a list of orders when you’re actually making changes to the order list. Take a look at this code to cancel all pending open orders. void CancelOpenOrders(){    for(int i = 0; i<…
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Is Trading Like Poker?

Is trading like poker? A strange question you might think but actually there are a number of similarities and making the comparison can help improve ones trading strategy. Adam Hartley explores the similarities and differences between the two and finds that learning about poker can improve trading performance. There has recently been a great upsurge…
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Web Resources: Forex Factory

This is one of a series of articles about useful trading web-resources. This time it’s Forex Factory Forex Factory almost needs no introduction as I expect that almost everyone knows about it. However, for those that don’t it’s probably one of the largest and longest established forex trading portals around. It’s a site which I…
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Swap Rates – The Hidden Cost of Trading Forex

Retail traders are these days very much aware of the different spreads that brokers offer but a surprising number are completely ignorant when it comes to the cost of carry, or swap rates that are charged when positions are held overnight. Whenever you hold a forex pair overnight you should earn the overnight interest on…
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Metatrader Tip: Offsetting Hedged Orders

A quick tip for beginners who are using Metatrader 4. If you’ve got two opposing hedged orders, say long 1.0 lots of EURUSD and short 1.0 lots of EURUSD then of course you are hedged. However, if you want to close out both positions rather than legging out of them (i.e. closing each individually) which…
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Broker Review: OANDA

When you search for reviews of forex (or any broker) on-line you’re often left none the wiser as you just don’t know whether it’s a genuine independent review or something spammed up by the brokers themselves. I’m only going to review brokers that I’ve personally used and I can confirm that I have no personal…
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Different Types of Retail Forex Account

Forex trading has come a long way for retail traders over the last few years. I remember starting out with CMC brokers a good fifteen years ago. They had a spread you could drive a truck through but they were one of the first outfits which catered for retail forex traders. These days there are…
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