Have you ever wondered to yourself how to calculate EXACTLY what % of your account balance to risk on a given trade?
I mean you’re sitting there, about to open a trade for what seems to be a good opportunity, but you’re not sure what the optimal volume / lot size is. On one hand, you don’t want to risk too much in case the market goes against you, but on the other hand, you don’t want to risk too little either. Sound familiar?
That’s what we are going to explore today – EXACTLY what % of your balance is it optimal to risk on a given trade. It’s going to be fun!
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Forex Market Hours Map
I’m currently in the middle of creating a video-course for Traders who are just starting out into the unbound Forex Market. In one of the tutorials I talk about Forex Market Hours and I needed a World Map which would visualize Forex Timezones. I looked around but couldn’t find anything decent – all of them were either poorly made or in bad resolution. So I created my own forex market hours map which I want to share with you today!
The timeline at the bottom of the map is based on GMT time. More timezones are available at the bottom of this post.
To Download in HD scroll down and select your timezone
Forex Timezones Explained
You can check out this brief video and understand the essence of Forex market hours and time zones. This video is part of our course Forex Trading A-Z. Now you can watch this part for FREE!
What can we see from this visualisation of Forex Market Hours?
How can we use this information in our trading?
Let’s look at the sessions one-by-one and see what exactly happens over a 24-hour period on the Forex Market. (more…)
Hey there! Just a quick post to say that recently a lot of people have been getting the following error when trying to download MetaTrader 4 from the official MetaQuotes website: 416 Requested Range Not Satisfiable I am sure that this is a temporary issue, however to assist you with this challenge here are some […]
Hello dear friends! In the previous article we discussed the process of setting up MetaTrader 4 for sending email notifications. Also, as a proof-of-concept we sent our very first MT4 email alert. Today we will delve deeper into the topic of MQL4 email notifications and we will learn how to send combine useful information in the emails our FX Robots send to us!
The MT4 SendMail function
As you recall, the MQL4 function responsible for sending emails is the SendMail. This function takes two parameters:
string subject, // header
string some_text // email text
The subject parameter will be displayed as the subject of your email, and some_text is the email message. (more…)
In this short article we will discuss how to setup your Expert Advisor so to get an MT4 email alert every time a significant event occurs. A significant event can be anything like successful execution of an order, or a position being closed at StopLoss, or even simply the price crossing a certain level. It’s up to you to decide when you want your FX Robot to send an email notification.
Step 1 – Open a Gmail Account
It is important to understand that MetaTrader 4 cannot send an MT4 email alert on its own. The only way your trading platform can do this is through an existing email account.
Of course, for this purpose you can use your personal email account. However, that way you may run into complications when configuring the SMTP server. Gmail is tried and tested, and generally speaking, I find that this is the easiest approach. (more…)