sfl – Page 39 – Smart Forex Learning

4 forex VPS deals to make your trading more reliable

16/07/201607/12/2019 sfl Leave a comment

2 min read

As I’m sure many of you do as well, I’m using MetaTrader 4 as my main trading platform (using FxPro as my broker of choice). Running automated strategies poses a challenge however: you need to continuously keep your computer running to let the expert advisors make trades! That is something I’ve done in the beginning (yeah..), but it’s not very practical. I have since moved on to use a forex VPS hosting solution, something that allowed me to log in to my MetaTrader 4 instance whenever I wanted to without having my computer running 24/7.

Good forex VPS services set themselves apart from other VPS hosting companies by catering specific to the needs of forex traders. They make sure that maintenance only happens when the markets are closed, they offer regular backups and redundant servers. Some even offer free Expert Advisors as part of the hosting package.

Over the years I’ve used various forex VPS providers, so I’d wanted to give an overview of the good and cheap (but reliable!) VPS forex hosting companies that I know offer quality hosting that is reliable, affordable and will run your MetaTrader 4 platform without issues.

Best Forex trading books every trader should read

15/07/201613/04/2018 sfl 3 Comments

7 min read

As a professional forex trader, keeping up to date and learning about new strategies and ways to improve your trading is critical to your long-term success. This self-motivation to improve and lifelong learning is actually very common amongst forex traders. We are often self-taught because of our fascination with the currency markets!

During the years, there were a couple of books that had a profound impact on how I approach my forex trading. These books were eye-openers in one way or another and were books that made me the forex trader I am today. This list of best forex books are my top recommendations for you to read and improve your forex knowledge.

If you’re in a hurry and just want one great book recommendation that will have the biggest impact on the way you trade, pick this one:

Trading in the Zone by Mark Douglas

It will be the best investment in your trading career you’ve ever made.

Note: I also wrote about the best non-trading books
that will still help you become a better trader (and improve your life!).

The best Forex books list:

1 . Japanese Candlestick Charting Techniques – Steve Nison

Steve Nison is arguably the “grandfather” of candlesticks in the Western world, he is the one deemed responsible for bringing Japanese candlestick charts (which some say go back to the late 1800s in Japan) to the Western trading world.

In his book, he gives some background on the Japanese candlestick charts and how he found out about them from a Japanese broker. Then, he quickly goes into describing all the different candlestick patterns, with well illustrated examples. The second part of the book goes into using candlesticks with other techniques such as eliott wave, trendlines, moving averages and more.

This is THE definitive book on candlestick charting and candle patterns. If you want to know more about price action, this book should be the first one to pick up. I highly recommend it. Read more.

MT4 Expert Advisor Forex Course Intro

11/07/201616/11/2021 sfl 8 Comments

4 min read

This article is part of a series. Here are the other parts:

Part 1: MT4 EA Forex Course: Intro (current)
Part 2: MT4 EA Forex Course: our first forex expert advisor
Part 3: MT4 EA Forex Course: Trailing Stops
Part 4: MT4 EA Forex Course: buy and sell
Part 5: MT4 EA Forex Course: ATR stops and position sizing

The best MetaTrader 4 (MT4) expert advisor development course you’ll find on the web!

Here’s why: my MT4 expert advisor course will teach you how to transform your trading plan into a fully automated algorithmic trading system. What sets this course apart from others is its practical approach: I will provide you with real-life examples (including code!) on how to tackle actual scenarios. You will learn how automating your trades can help you lift your trading into profitability!

What this course covers

What is automated or algorithmic trading and why should I use it?
How to use the MetaEditor and Expert Advisors
Create your own Expert Advisor (EA)
Backtest your EA to validate your idea
Practical implementations for common scenarios, such as trailing stops, crossovers, dynamic position sizing, working with custom indicators and much more!

The ultimate forex trading plan guide

10/07/201613/08/2016 sfl 2 Comments

9 min read

Building your trading plan will be by far the most important part of your forex trading success. Too many forex traders are currently entering trades without a clear vision or goal in mind. They have a fear of missing out. They have a “feeling” that their trade is going to be the winning one, raking in loads of pips! When it turns out that the charts didn’t go their way, the first reaction is to quickly try again and forget the losing trade. Keep in mind that the fading affect bias is a powerful cognitive bias! This approach eventually leads to losses, pushing profitability even further away.

These traders lack a trading plan, a well-defined description of the “what” and “how” of their trading business (notice how I said business. You should treat it as such if you want to take forex trading seriously!). In this post, I will guide you through the steps needed to make such a trading plan, and give you a template of how a trading plan could look like.

Getting started with Forex trading

09/07/201607/12/2019 sfl 4 Comments

2 min read

If you’re reading this, it’s safe to assume you have an interest in forex trading. Maybe you’ve heard about forex from that friend working in finance or maybe you have an interest in currency markets yourself. One thing is clear: you want to know more about it! But where do you start? There are so many brokers, types of trading software, trading accounts, …

It’s easy to lose track of everything when you’re just starting out, so I’d like to show you some good starting points to get you going quickly.

Forex brokers

Choosing a broker can seem daunting. To help you out, I’ve written an article that shows what to look for when choosing a broker. I’ve been using FxPro as my forex broker and I’m very happy with them. If you’re looking for a reliable broker, they come highly recommended.

Choosing a forex broker

09/07/201607/12/2019 sfl 5 Comments

3 min read

Finding the right forex broker can be a challenge if you don’t know where to look. There are so many brokers available, all with their own offers trying to lure you in.

Note: I’ve been using FxPro for a while now, and I’m extremely happy with them. Since I’ve been with them, I have been pleasantly surprised with the quality of their support, their spreads are decent, their execution is flawless and they offer both MT4 and cTrader. If you’re looking for a good and reliable forex broker, I’d recommend checking them out:

When choosing a broker, it’s therefore useful to look at the following criteria:

Low spreads

The spread of a currency pair is the difference between the buying price and the selling price of that currency pair. Most forex brokers don’t work on a commission basis, and the spread is how the brokers actually earn money when traders make orders. Different brokers will offer different spreads, and it’s worth looking into which brokers offer the lowest spreads on the currency pairs you’re planning to trade with the most often. A useful website to check a lot of broker spreads for the most common currency pairs can be found here.