Usefulness of MT4 Exit Robot in Forex Trading

Most of the times when you see traders gather around discussing about forex trading, they are most likely to be discussing on the most appropriate time to enter a trade. This is a common occurrence at forex trading seminars. Here, you see most of the participants asking questions relating to the best time to enter a trade, and once they have gotten new ideas on trade entry, they somewhat conclude to themselves that they already have what is needed to succeed.

However, there are certain rational traders that would refuse to limit their knowledge and expertise to just how to work out the perfect trade entry points. By reading good forex trading books, such a trader would be able to know about the existence of other requisites like risk management, trading psychology trade management and, probably, MT4 trailing stop  or other trade exit strategies and tools. Talking about trade exits, some traders do not even know about the strategies or techniques of executing that. All they know is to just leave the market whenever they feel like doing that based on irregular behavior of the trade charts or, simply, as a result of gut feeling. Traders that exit trades in this manner are obviously lacking in trading experience, and they only allow their trade exit decisions to be made by emotional feelings.

There are also those groups of trader that once they see that trades are going the way they desire it to, they forget everything about exiting a trade. Also, when a trade turns bad, some traders would also decide not to exit still with the hope that things would get better thereby exposing themselves to unnecessary, excessive and avoidable losses. Put in another way, some traders are afraid of exiting trades while some simply exit trades at the most inappropriate times. If only these traders can make use of the trailing stop robot, they would find their task greatly reduced and made easy. It would, thus, be possible to plan, manage and automate a trade effectively. Before a trader enters into a trade, he only needs to develop trade exit rules which will serve as guides should trading go awry along the line. MT4 trailing ea removes all the fears arising from failure to exit trades at the right time.

For more information on Forex Exit Robot, find out more here www.ForexTrailer.com

MT4 trailing robot allows the trader to use his time to go on researching for new and more effective trading strategies with the confidence that the MT4 exit robot would see to the proper management of his trade. It can, therefore, be seen practical for retail traders to put together their own exit strategies and go a step forward by automating them. This would increase the potential for them to profit.

Trailing Stop Loss as a Key to Success in Forex Trading

There have been times when traders would enter the market brimming with confidence that they already have the perfect entry strategy that is sure to guarantee them success, but in the end they get a rude reality check. And unless these traders pause and consider what exactly the problem is, they will never realize the cause of their plans failing to work out: The fact that they lack a proper mt4 trailing stop loss to help lock in profits that have been made whenever trade is favorable.

Failure to have a trailing stop loss in place can cause a trader to lose whatever profit he might have made, and this could have really devastating effect on a trader's psyche. Some traders do sometimes imitate the accurate trading entry points that some others had discovered, but fail to take cognizance of all other aspects like the exit strategies. In the end, though such traders initially made huge profits, they only have losses to show for their trading efforts. This is because they are rather oblivious of, or cared less about, proper trade management.

When we talk about having a trailing stop loss in place to secure profit, just any stop loss order will not do. The trailing stop loss has to be executed in such a way that whatever profit had been made would not be lost to the market should the prevailing trend change direction. Some traders are confused about how close a trailing stop loss should be moved to the price and, not only that, they are also not totally sure of when best to move the stop loss. The solution to these concerns is that trailing stop loss has to be automated in such a way that whenever a price movement occurs, the stop loss is shifted automatically so that a trader would find it easier to monitor a trade because of a comfortable stop loss level.

It is essential to have a trailing stop ea ready to ensure that whenever there is a movement in the market, the stop loss shift automatically as needed. The usefulness of this trailing stop loss order is that without a trader having to monitor a trade manually, profits made on the trade are secured, and losses that may occur on certain occasions are reduced to the minimum; it does not get too big or too large for a trader to cope with. It is important to be able to do this so that the potential for a forex trading success would be higher. If a trader is able to rake in profits when market conditions are favorable, and is able to reduce the magnitude of losses whenever the conditions are not favorable, he will most definitely not find it hard to be successful. For the best outcomes, it is best for a trader to automate the trailing stop loss order as a prerequisite to other steps.

Check out this product for more information on trailing stop : Forex Trailer

Forex Exit Strategy Rules

Some Important Forex Exit Strategy Rules

When trading, it is very important to know the most appropriate time to exit a trade. Choosing the suitable forex exit strategy is part of trading, and the exit points need to be located strategically prior to  trading in the market . Support as well as resistance is the determining factor in recognizing the best points to place the exits in the market. Usually, the advisable thing to do when entering the market is to, first of all, determine the initial exit; after which the best time to exit a trade would be determined by the stop.

The initial stop loss aims to exit a trade whenever the trading situation becomes undesirable just as a trade is about to begin. Initial stop and trailing stops are together present in most professional trading systems; the problem is just that trailing stops depend on certain conditions, and they will remain unknown until those conditions have been satisfied.

The best initial stop loss to use should be the one that allows the trader some freedom to do what he wants, but not so much a freedom that would make him take unnecessary risks. The proper thing to do would be to use a stop loss forex exit strategy that would be based on the current price activity level in the market, certain levels of Fibonacci or key support resistance levels.

Another very important forex exit strategy rule concerns break even stop. Break even stops are all about moving the stop loss to entry price whenever trading is good; this is done as a way of ensuring a winning as an initial stop before proceeding to use trailing stops strategies.

The fact that break even stop plan reduces a trader’s worries is the reason why it is a very popular method that most traders use. Also, it is an ideal thing to always use mt4 trailing stops as means of locking in profit any time the market moves are perceived favorable to a trader. Out of all the trailing stops strategies, the two bar trailing stop is the most basic of them all.

Check out ForexTrailer Software for your forex trade exit automation.

This trailing stop method implies that a trader could lock in his profits by moving his stop loss level to either the low or the high of the last two bars. The best time to use two bar trailing stop as a forex exit strategy is when a trader expects the market to move into a consolidation phase or when involved in intraday trading.

A trader also need to take emotions out of trading. This is probably one of the most important forex exit strategy rules that a trader needs to abide with to be a successful one. Emotional trading decisions have the capability of wrecking a trader. A trading plan can help eliminate this problem if the trader would stick to one. If emotions has always been a problem, go to www.forextrailer.com for ways to improve your forex trading.

Once a trader is able to deal with whatever emotional issue that may prop up, then a forex exit strategy would be able to fulfill the aim it was intended; which was to help achieve trading success (profits). It is also advisable to use time stop as this would help the trader exit a trade prior to an event that could shake up the market; Non-Farm Payrolls is one of such events.

Since the announcements of these events could make the market become highly volatile, it is best to have a time stop in place as a forex exit strategy to avoid accompanying losses during those events.

A trader entering into the market to trade should have already prepared a forex exit strategy, no matter what he thinks the trade outcomes would be. Forex exit strategy is a prerequisite to all potentially successful trades and, along with trade management, it is highly essential in forex trading.

Order Auto Catch on Feature Release Version 40

Forex Trailer Version 40 April Release 

1. Auto Catch On Feature  

Many members welcome this feature as this makes trading 

with Forex trailer EA better. Members will now be able to 

omit the step on entering the order ticket number as the 

EA can now auto pick up the order ticket number and start 

its trade management process. 

If you are trading with a signal service provider, this 

auto catch feature will make it even more convenient to 

use Forex trailer EA along with such services.  

2. BE plus X pip 

When using partial close or break even stop, once pip in 

target is reached, the stop loss is shifted to break even 

point plus x pip. By default x is 1. After this new update, 

members can now specify the number of x pip they will 

like the stop loss level to shift at the break even level. 

3.  Ability to Define User Take Profit Level

In previous versions, during any trailing operations, 

the trader’s TP will be removed from the broker’s server. 

This restriction has been lifted and traders are now free 

to have TP during trailing operations.

4. Reactivity and Operational Issue

Our software was reported that it was not reactive while 

trading daily time frame and also super short time frame 

like 1 - 2 minute bar. Our EA was tuned to make trading with 

such time frame feasible now. Some chart display errors are 

also pointed and remedied. Software authentication with 

certain brokers are also fixed.

5. Trade Resumption Implementation

Do note that in previous versions of FXT, the following 

activity will reset the EA's memory in particular to 

remembering the 2nd order number as a result of partial 

close: 

a) Changing time frame

b) Changing of EA properties

c) Closing the chart with the EA attached

d) Closing the entire MT4 application

e) Computer shut down (blue screen, windows hanged etc...) 

As a result when using previous versions, the user must 

carry on the trading process as if its’ a new order. 

Detach EA from chart, paste a new copy and select the 

exit strategies again. 

The newly implemented Operations Resumption feature 

allows the EA to remember the 2nd order (when partial 

closing or break even stop) number and the current operations. 

When MT4 is re-opened, the EA will recognise and the exit 

strategies and last actions conducted. It will resume its 

operation thereafter without any intervention from user. 

If you like to change previous exit strategies to a new 

strategy, close the chart and re-attached a new EA to a 

chart. Perform the process like its a new order. 

For more info of MT4 Trailing Stop EA, visit URL below:

http://www.ForexTrailer.com 

Regards,

Warren Seah 

11 Forex Trailing EA Update- Version 31 Released

We're excited to announce the Forex Trailer version
31 update. This is the 4th update and we are proud
to present to you.

Essential Quarterly Software Updates

Our software has expanded its capabilities and now
works better with most ECN brokers.

Through delivering software updates quarterly, we
will seize the initiative in customer satisfaction,
regaining leadership and empowering our clients to
stay ahead of the competition by owning the most
up-to-date trading tools.

It also encourages customer feedback,
enabling us to build dialogue with our customers.

Our quarterly Software Updates will deliver a
number of important benefits to affiliates and
potential JV partners:

- Strengthen customer loyalty

- Improve the frequency and quality of customer contact

- Enable us to treat customers as individuals

- Deliver better products and services targeted to what our customers ask for

- Reduce refunds which means you earn more affiliate commissions.

- Ensure that the communications process operates effectively.


----------------27th January 2011 Changelog----------------


1. Visual Updates which allow traders to view
all selected strategies in the trading windows
after they attached FT to chart. Example a trader
uses partial close and MA trailing stop. The
status of each of these strategies will be
displayed on the charts.

2. Forex Trailer will be compatible with
most ECN brokers

3. fixed several minor bugs


http://www.forextrailer.com/
Let Price Determine When You Exit
100% Emotion-Free Forex Trading

ForexTrailer v30 Released

This is Warren here. Version 30 has released.

http://www.forextrailer.com/


Here is the changelog for the new version.:

1. 2 Bar Candle trailing stop is now customizable such that you can specify whether it is 2 bar , 3 bar , 4 bar , N period of bar trailing stop. This strategy will soon be renamed to N bar Candle Trailing Stop. You will be able to specify N bar in section F of the EA Input setting tab.

2.Now, equity Trailing stop will work on accounts derived in all 5 major currency (Usd, Eur, Gbp, Jpy, Chf). And some bugs were removed.

3. Channel trailing stop has a visual update and user will see the channel line clearly on the chart.

4. Introducing a new feature called Stop and Reverse(SNR) This is an entry method use by some of our clients
to get them into a reverse trade immediately just when their initial stop loss or trailing stop is hit.

5. Strategy testing is now enabled so that each trailing strategy can now be tested on the metatrader strategy tester panel. User can get a feel of how each trailing strategy will work by specifying the trailing settings and the testing period.

User manual and Treasure Trove guides were updated on 14th September 2010. Refer to them for more details.

This software has grown more powerful as we improve on it everyday. You will notice by now that each strategies in Forex Trailer software can be sold as a standalone software.

It's now packed with more than $4202 value that we initially promised. I hope you will see the value we are offering to you. Now the price looks like a steal compare to the value you will get. Get Forex Trailer today before the price go up!

http://www.forextrailer.com/


Have a spectacular week and be safe (just like how you manage trades with Forex Trailer).



Regards,


Warren Seah and ForexTrailer Team



http://www.forextrailer.com/

Let Price Determine When You Exit

100% Emotion Fr.ee Forex Trading

Your First Aid Kit in Forex Trading

Today,  I received a parcel from my friend. It was intended to be my birthday present this coming July 2010. As i unpacked, I found a first aid kit in the parcel.

I was astonished to find this item as my birthday present. haha. Included is a manual. As you know,  it is in chinese. Well, my friend in China decided to give me a birthday present this year. Look here, this is my first Chinese First Aid Kit birthday present!

The next question was when and how am i supposed to use a first aid kit in my life? How useful or important  is a first aid kit to me? I started to look for answers.

This was described in wikipedia

"A first aid kit is a collection of supplies and equipment for use in giving first aid. First aid kits may be made up of different contents depending on who has assembled the kit and for what purpose."

 

Purpose of first aid box is to provide first-hand protection to a person's life at the time where he sustained an injury. I began to relate similar events in risk management of forex trading to delivering first aid to an injured.

Forex Trader's First Aid Box

Just like an injured person will definitely find a first aid kit handy, a forex trader will also sustain emotional distress during or prior to making trades. Forex traders will also need their version of first aid kit delivered to them when they needed most.

The stages which they needed most:

1. Prior to making a trade
2. During equity drawdown
3. Having an opened trade with floating loss
4. Having an opened trade with floating profits

Providing a clear and simple exit strategies for forex traders prior to making a trade is a great start in trading the market. Statistics showed that traders will most often made losses trading without a plan. The reason may be deal to traders' emotion is very prone to market fluctuations and balancing between a clear mind and fear/greed is a very difficult process to manage.

Forex Trailer: Your Trading First Aid Kit

Forex Trailer Mt4 Software provides forex traders with 11 exit strategies and it works just like a first aid kit in our lives. It's purpose is to manage a trade such that the traders will collect the most profit in a time when he is right or limit and restrict the traders from losing much more than unexpected loss during the time he was wrong.

In forex trading, traders' equity is the trader's life. First aid kit delivers first hand paramedic attention to an injured at the time he needed most while forex trailer apply his knowledge and expertise in trade management protecting traders' equity accounts and maximising profits but not at the expense of higher risk.

Conclusion: First aid kit protect a person's life; Forex Trailer protects a trader's equity. That is Forex Trailer software protects a trader's life. Haha. It looks like a joke here but if you give a more serious thought to it, this may be very true.

Forex Trailer Team has designed a Trade Management Software that tells you EXACTLY when to get out of a trade...


Find out more on this forex Exit Strategy EA below,

http://www.forextrailer.com/

Be a Discipline Trader

Regards,

Warren Seah

ForexTrailer.com
Let Price Determine When You Exit
100% Emotion-Free Forex Trading