Jul 27, 2019 7:04pm

What is auto trading

The way in which your trade will automatically open  and close itself and everything will be driven automatically according to the trading balance, where you have nothing to do is called auto trading. This method is a programmable code-based sorting method (robot) where it is said how the method works on the base of market movement, how many pipes to profit, how many pipes to lose, how many volumes of trade will be open, risk will take up to the maximum amount etc.etc. everything  need to forex trading.

Advantages of robots:

•Trade will be automatically for 24 hours.

• It works on a specific system. so the rules never break.

• There are numerous settings that can be handled through own settings.

• Data analysis is done effectively in a very short period of time. 

• With basic knowledge any new trader can income in this way. 

• Working with a specific currency, the trading loss is very low.

Disadvantages of robots:

• Need to set it to run on PC for 24 hours. So it has to be done differently through the VPS services.

• Not all brokers have support, so your target income may not.

• A robot usually cannot operate in more than one currency. So to set up robots in multiple currencies, need to buy robots per currency. 

• In robot trading, you do not have the ability to trade in this way because the robot formula will accidentally lose the trade. 

• Most of the robots cannot trade at market high volatility.

• Many new traders take the robot's refuge directly without learning it themselves As a result, Forex cannot learn for real.

What is needed?

Since this is an automated trading method, it will work even if you are not sitting in front of the trade. However, it takes a few things to trade in this method.

1. VPS- Virtual Private Server

2. EA – Expert Advisor

If your PC cannot be turned on for 24 hours, then you need to take some space on a PC which is known as VPS for 24 hours. That is, there are some companies that will keep their computer running for 24 hours so you have to pay $ 10- $ 30 per month.

Secondly, you have to have robot software, in this case you have to purchase it, since it is a special software system so it is not free. Different Forex Robot Providers charge different prices to their robot's work. You can buy robots within $ 5- $ 20. However, there are many robots which buying price up to $ 1000 .

Considerations for buying robots:

To understand the extent of the auto trading system (robot) you are trying to purchase, whether it is profitable or how reliably it is or how effective the auto system is, you need to look at some of the details that you will find in the specific section of that particular robot. In the points of below, you can purchase a good robot.

·         Back-test

·         History

·         Profit Factor

·         Drawdown

·         Risk Reword Ratio

·         Month Return

How to install EA?

Typically there are 2-3 files for EA. You will need to copy the original EA file from the root folder of your computer's Meta Trader to the Experts folder, and if there are more files, copy them to the folder that you are asked to enter as per the instructions. And the Meta Trader's Expert Advisors option should be enabled. And with the different types of EA parameter settings you can set your own robot.

Final word:

Forex Robot will continue to trade in your absence for 24 hours but  it is a programmable method, so the market understands how well the system is designed, if you set the robot without verifying it and hope for profit, then your dream may not come true. So before using any robot, in addition to the above, make sure that the robot is set for at least 6 months demo account. Then set the live trade finally. Otherwise it will not take long for your hope to become hopeless. Understand all the settings of the parameters your robot, then start.

ayub litonJul 17, 2019 11:35pm

       Take the half portion profit only !!!

Many traders using different types of strategies for their trading. Some strategies work very well & some another mays not bring about positive results. There are  so many good strategies, those are not always working. However, it is depends on your trading experience. as a trader it is totally turning on to your regular basis trading skills. However, we have got so many trading methods. Today i want to discuss half portion profit taking. Those who are used it before, develop your strategy by using this & those who are new please give us feedback by your comments.

How it works :

Suppose you open a long trade, when the trade has reached half of your expected level, then you close the trade & take your profit.

Most of the trader manage their trade in that way, otherwise,  all of the profit turn into loss because of the unexpected market retracement. When the market really moves towards your stop loss, then this method works. But what you have to do, when market moves into your favor, yes definitely that is right decision, to take the half portion of profit & stay safe from unexpected loss. But if you have enough confident about your trading strategy & wait until, your trade reach to take profit level & then take the profit. Actually you will understand that, when you are getting almost double profit. On the other hand. If your trade fall into loss, yes definitely, it's a hamper of your business. But as a Forex trader, you have to be accepted that loss trade is also part of your business. And my guess is right here. Because most of the cases, when traders took their half gains, & see their trade hit their targeted level, then there is no limit to despair.

What you have to do in that case, such as when market is in your favor, you can take short term profits by hiking your trading size in half portion profit taking method. However, you can use this technique as you wish in your daily trading. But i have a query to all of you, in which way you can earn a good profit? partial profit gain or target pips profit sense, hopefully i will get your answers through comments.

Happy trading & stay with pipslover.com

litonJul 12, 2019 3:40pm

    Psycological Hard Talk About Forex    

Did you face this type of situation, as one of your trade turned into loss suddenly, or didn’t it happen, like you could get a good profit in your first trade, but next trade went to loss unexpectedly? Yes, perhaps, the answer to the above two questions is yes or positive. Normally, there will be two reasons behind this matter, you didn’t able to pick the right time for trading & in your second trade, you couldn’t able to forget your first trade memories. Or there also so many reasons. Psychologically or mentally when people do work continuously in such a good way then they have some imbalance in them & It's resulting mistakes. However, today we will discuss mainly, how important time for trading, its work pattern & how to use time in good trades. you should keep in your mind, you never avoid losses, either less or more. but we have to know that, how to keep yourself safe from big losses & do positive trades.

 Why I face loss after getting a good profit ?

If we get a profit in one trade we feel so happy, its normal matter, but after that most of the cases, traders failure to bring success like before. Yes it is psychological matter, & it's called “Dopamine.” If it is not used properly, people go back their previous addiction & made a wrong decision then they face a big loss. Its mean that, when you get a profit in one trade than you want to do more trades, your subconscious mind tells you go for trade! Go for trade! & you make an extra trade also, because you have got “Dopamine” in your brain high scale, & until the brain is high, you never understand, whether its risk, or it is safety. You will do the same thing, as the brain want, it's the normal behavior of brain. We know that, as high leverage is double- edged sword alike dopamine. It’s totally depended on you. You have to control your brain as it’s not getting change in negative wave. For this reason, you made wrong decision repeatedly by uncontrolled of dopamine, & finally you are bound to face loss.

Solutions :

 You already understand that, after profit trade, its so much easy to fall in loss in your next trade. You have to understand & control the emotion- fueled/dopamine fueled trades. We will give you some tips below how to get out from these types of loss trading :

---- Select a fixed trading standard.

---- Do not break the trading standard

---- You have to make right trading plan.

 ---- Understand the brain chemistry & execute your trade in that way.

 ---- Go for the new trade according to dopamine fueled position.

Here we discussed so many things as if you never make a same type of mistakes in your real life trading. Because There are so many good traders who fail to create a right mindset  & fall into unnecessary losses & they become frustrated for the lost of their earned profit.

aaaaaJul 8, 2019 5:04am

Trading Style

Dear readers, What about you ? Hope so that, everything going alright. Today I want to discuss Forex trading style. So, lets jump on to the journey. Always keep it in your mind, if you don’t have a proper trading formula or discipline, trading on the Forex market is very difficult for you, though you are pretty well for trading strategy or technique, but without knowing a proper trading system, you can never be a successful trader. Please remember that, You will get an unlimited income from Forex, yes that's true, but if you don’t have right chemistry, then its just only mirage for you nothing more than that. There are so many traders who have got little knowledge about Forex & they slurry on the dark, maybe they get some profit & they seems to be they understand the Forex. But question is that, does the matter be  so easy ? Answer is that unfortunately no. But a good trader never runs his trading like that way. If you analyze the successful trader life cycle, then you will discover that, to become a successful trader, he or she needs a lot of time to learn & they deserve a good result during his whole life. Hence, I am telling you, give up hurriedness, at first take your time to learn every single part of Forex (technical & fundamental), then, you could do well.

 We have already discussed so many things, now this is the right time to go to main topics. How do you understand that, the system you are trading is right or wrong ? Some points are given below , try to cope up with your trading system, & select your best trading style. There are so many traders who lose their trade, without understanding the timeframe. New traders tend to get too much excited & they trade in a wrong timeframe & It's resulting a loss which is not compatible with their trading strategy. And end of the day, They lost from Forex market forever. Because as you know that, Forex market chart gives you different trends in different timeframe. Such as if you observe five minutes chart in any pair may be its indicate the up trend of this pair, on the other hand if you look through one hour chart in same pair who knows it will be sell trend. So, before placing the order you have adjusted your timeframe. But you don’t able match the time certainly in the Forex market. You have to select your timeframe, depend on your own strategy & target. You can set your target in three kinds of timeframe. Here you can check it out:

 Intraday timeframe - 1-15 minutes

Short timeframe - 1-4 hours

 Long timeframe - One day or more

 1. Short Time Trading:

 In this method you can trade in two ways:

 • Scalping

 • Day Trading

2. Long time trading:

There are also two types of trading method.

• Swing trading

• Position trading

01. Short Time Trading :

Scalping In this type of trading method you have entered & leave the market in just few seconds. Since it is a limited time of trading, you have to do more than 100 trades daily. Each trade you should take limited profits just like 3 – 5 pips. You have to trade on a dynamic market trend depend on a one-minute chart.

Benefits of Scalping Trade:

 --- You can trade to take low amount of risk

.--- Accuracy level is high

.--- No need to fundamental analysis.

--- There is no risk to sudden market change

.--- Every day you will get several times this type of facilities.

 Difficulties of Scalping Trade

 ---- You feel tremendous amount of pressure in this type of trade.

---- You must need a fast order execution broker.

---- You have to pay a lot more transaction cost. ( If you do 20 trades daily you have to pay 60 pips spreads.

Short time day trading :

In this type of trade starting from a minute to all day long. If you want to trade in this method you should wait for the market trends with very discipline & patience. In this case, Most of the traders follow the technical strategy. In this system you will get 1 to 5 trades every day. For day trading you should use 5 to 30 minutes timefram

Benefits of day trading

 ---- Get a scope to unlimited income

---- You can trade in short term trends.

---- There is no risk to change in the market.

---- You can use different types of method.

                           Disadvantages of day trading :

 ---- Have to maintain a proper rule for trading

.---- Need more patience to get better output.

---- Using different types of strategy in different pairs.

---- Have to stay up to date with market news on a daily basis.

 Long Time Swing Trading :

In Long Time Swing Trading each trade takes 3 to 5 days to reach their destination. You get opportunity to trade in medium term trend & enter the trade any time. You have to monitor your trade couple of times in a day & 1 to 4 hour charts is the best for Long Time Swing Trading. For this trade, you can use Technical Analysis tools such as double top/bottom, triangle chart pattern.

Advantages of Swing Trading :

----- Huge possibility income a lot in one trade.

----- You can get more returns than day trading.

----- The trader keep themselves cool & calm when market is           falling, because they have got enough time.

------- Low transaction cost.

------- Limited mental stress.

Disadvantages of Swing Trading :

 ------- Need to huge investment.

------- Waiting for a long time a good return.

------- Level of accuracy is not up to the mark.

------- There is a risk in the session break.

Position Trading :

Position trading takes from day one to few months time to reach its destination. This is the longest trading method in Forex Market. Traders always have to trade on long time forecasts in this trading method. You have to place an order depend on 4 hours to day chart timeframe. This is fine, if you monitor your trade couple of times in a day. You can get opportunity to trade in long time pivot point breaks.

 Benefits of Position Trade :

 ----- You can get returns more than 500 pips.

----- While market runs against the trader, they don’t bother it.

----- Low transaction cost.

----- Low mental stress.

Disadvantages of Position Trade :

----- Need a huge investment.

----- Waiting for a long time a good return.

----- In this method, trade accuracy level is not more than 50%

----- There is a risk in session break.

Which method you should have chose :

 Every Forex trader has an independent spirit, trading strategy, demand & time. Its only depends on your target & demand which method would you like to choose for your trading. For example, swing or day strategy is best for job holder or if you can keep an eye on the charts simultaneously scalping can be good for you.

On the other hand, if you want to trade in fundamental analysis, then long time or position trading will be good for you. Hence, what is your demand & how much time you would like to spend on your trading, considering all things, then you can make a decision which trading method you would like to trade.

So last but not the least , whatever decision you make, before you go to real trade, you must have improved your strategy in demo trade.

MD AYUB BHUIYAN LITONJul 2, 2019 11:04pm

 Mind & brain talk each other


 ​Friends, today we will talk about our mind and brain, didn’t get my point right? OK no worry , I am telling you. The topic of our discussion is that when we are in the forex market, our mind, and brain talk each other . They share with them so many funny talks. Today's discussion with those words. It's a lot of fun, stay with us.

 Brain: I'm a forex trader. So, I have to be careful about my trading.  A  businessman is waiting for good opportunities. So, I have to wait until getting a good trade.

 Mind: Of course you are a forex trader. So, you have to forex trading continuously as much as you can. How long will you stay for a good opportunity? Now the market is going down. So do a sell trade with a big lot. If you get 8/10 pips you will get the profit of the whole month. Don’t want to tell it’s the opportunity? Why do you miss that chance?

Brain: No I have to follow the rules. I will not go for trade if it’s not in the method. Many times I have seen this types of sudden trade resulting a big loss. Even, the account becomes zero.

Mind: I don’t forbid you to follow the rules? Of course, you will do trade, when it’s in the method. Market is on the trend now. Trends are the biggest friends of us. This method is the grandfather of all the methods. You are wasting your time by talking, Because, in the meantime price go down more. You are missing out the great opportunity willingly. Think properly, all the big traders are now entering the market like crazy, and they put on sells entry as it is selling(falling) the market. Did you grow bigger than big traders?

 Brain: Oh no. , So that’s not the right decision to put on a trade without observing a good resistance?

 Mind: Good Resistance? You have lost your good fortune! Then you did not listen to me. Half of these trends were already lost, cause of your disobedience. There are still good times, wanting some profits, put on a sell entry . Just 8/10 pips do not matter with big lots. Do I want your bad ?

 Brain: Then check out a few hghir timeframe.

Mind: I understand you're trying to waste time. In High Volatile Market the major trends of higher timeframe will not give you profit? Getting 8/10 pips, are you looking for higher timeframe? Are There donkeys like you in this world apart? People will laugh to hear that !!!!

 Brain: Then keep it a little lower.

Mind: If the whole month's target is full-fill in one trade, then you don’t need to any trade rest of the month? If your trade lot little lower, then how can you get whole month profit in one trade ?

 Brain: No, It’s cant do.

 Mind: Do you Want to sit on the charts in front of the PC of the whole month?

Brain: Oh !! For forex i already forgot my friends & family. My mind also wants to chat with a friend & family.

 Mind: Then why you are delaying? Put on a high lot sell trade & take a maximum of 8-10 pips.

 Brain: ALLAH/God with me ! So let’s go for sell.. Just 8/10 pips. As the market is falling down, then it will take two minutes to hit TP (take profit).. Bismillah .... thumb (Sound of place an entry to the market) .............

Brain: Oh my almighty Allah! The market is going up! Allah! Allah what you are doing! Why does so with me! Why does the market go against me when I enter the market? Allah, Allah! Yes! Yes! Price comes back, almost near to the break even point, It has come to the break even. Yes, this has also come to profit. I got scared .... The market is just falling.

Mind: It's good to have profits. Get a little more profits, and a little of TP.

Brain: Yes, that's it. It seems to be more profits. Let's increase TP a bit more. Thumb (Sound of Modify The trade)

 Brain: Hey! ...... the price is rising again! oh! no! ....... Is there any news now? ...... Allah/God save me! Why do you do so repeatedly with me! ........ what have I done! Just a few dollars profits! Don’t want to give me? ........ Allaah-!

My dear reader, this is true scenario of 95% forex trader of the whole world. Is anyone who disagrees with this statement ???