Currency Secrets Blog

How to design a fully automated trading system?

Apr 23, 2015

It’s been now almost 2 and a half years since I started this journey of designing a fully automated trading strategy. I certainly don’t believe “I’ve arrived” and I still have much to learn, however, there are many things that I have learnt throughout the last 2 and a half...

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Success with Trend Lines! (Just Four Questions)

Dec 1, 2014

Drawing a line in the sand and expecting that the waves will never reach that point is the same as drawing a trend line on a chart and expecting a similar thing. Trend lines in and of themselves are nothing in the market. They are a manifestation of your beliefs...

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Three Good Reasons to be a Trend Line Trader

Dec 1, 2014

Price action traders love to draw them, love to predict the future using them and love to trade by them - yet few know how to properly use them. If you’re anything like me you’ve come to a point in your trading career where you have a hit-and-miss approach when...

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New Enhancement to Trend Line EA - Helps Spot Reversal Trades!

Jun 7, 2014

I have applied a small tweak to my trend line script whereby it now has the ability of detecting whether a currency has had X number of consecutive closes beyond it. This has proved perhaps more beneficial in the lower time frames such as the hourly charts where price can...

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Why Do Horizontal Trend Lines Work?

May 10, 2014

Whenever you use an indicator or a trend line in your trading or analysis it’s always good to challenge your presuppositions. Many traders love an indicator because it looks nice or appeals to their taste, which may be a great way to start in trading, but unless your indicator or...

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AUDNZD Caught Between Two Worlds

May 10, 2014

The AUDNZD seems caught between two worlds. Last week we saw a strong bullish move which showed promise of breaking it’s long standing resistance area that has been in effect since before Christmas last year. However, more effort is needed and it will be interesting to see how the AUDNZD...

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What More Can Be Made After Making 2,037 Pips (in 1 Trade)??

May 4, 2014

You’ll recall last year the famous channel breakout of the GBPCAD. I entered this trade and ended up making a nice profit from it (2,037.1 pips to be exact), however, this doesn’t mean that’s all folks. While we certainly have to caution ourselves against the emotion of greed, we should...

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AUDNZD Bearish Flag - Weekly Analysis

May 4, 2014

[caption id=”attachment_997” align=”aligncenter” width=”1024”] AUDNZD forming bearish flag looking for further breaks down.[/caption] Currently the weekly chart of the AUDNZD looks nice for further downside. Around November 2013 I made mention of the bearish flag and to watch for it’s subsequent break. Alas 6 months on we did see a...

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Does The "Market" Hunt For Your Stops?

Apr 1, 2014

Further to our initial discussion on stop hunting it was difficult not to look at a recent trade’s exit where a 1-minute candle saw price spike to my known stop loss and saw me exit the LONG trade. Very hard not to be suspicious on such activity - especially when...

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Designing an Automated Trend Line System - Part 5

Apr 1, 2014

In the next part of our series we’re going to begin moulding our two parts together. Currently we have an orders section and a trend line section, so now we’re going to copy the functions from each into one package. As we have maintained a modular approach to our EA...

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Do You Feel Your Stops Are Being Hunted?

Mar 24, 2014

It can be very difficult to give your forex broker your entry stop and exit stop orders especially if your forex broker is known to be a market maker rather than an ECN. While I believe this activity is certainly becoming less prevalent in today’s forex market, it does make...

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Do You Make This Mistake When Creating Your Trailing Stops Function?

Mar 21, 2014

In the fifth part of our series on designing a simple trend line breakout system we will move on to exits. Unfortunately early on in my MQL4 coding life I made some big mistakes when I coded my trailing stop function. I found that my entries would be okay, but...

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Designing an Automated Trend Line System - Part 4

Mar 20, 2014

In this section we will tackle the entry ordering process. The best way I’ve found to test the ordering process is to simply remove all gates (such as the trend gate) and to allow the system to trade based on it’s trigger. Now obviously you will need a demo account...

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Designing an Automated Trend Line System - Part 3

Mar 19, 2014

When designing your system in MetaTrader it’s extremely important in being able to test your code throughout. The best way I’ve found to test code is to modularise it, in essence, create functions where appropriate. This will allow you to insert variables through the function’s parameters and then get a...

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Designing an Automated EA Trend Line System - Part 2

Mar 15, 2014

Now that we’ve written a brief trading plan which helps to put boundaries on what we’re doing and WHY we’re doing it. Let’s start formulating some pseudo-code - kind of like what we’ve previously done, but it adds a level of more code into our writing. So the first thing...

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Designing an Automated EA Trend Line System - Part 1

Mar 15, 2014

I’m going to embark on sharing how to design an automated expert advisor for trading simple trend lines. By the end of this series I hope that you will have gained an appreciation on the complexities of designing an automated system and perhaps thought of a few things that you...

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Trading Strongest & Weakest Pairs Only

Mar 7, 2014

One of the peculiar natures about the forex market is that every pair is impacted by every other pair. This symbiosis in the currency market can take some traders who have come from other markets a little by surprise. While some stocks can move together, such as the banking industry,...

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Why Using AccountEquity in Calculating Risk is Very Dangerous

Feb 20, 2014

Early this year in mid-January one of my breakout systems was doing quite well. Unfortunately, just after a strong winning streak, a losing streak followed which took most of the gains made from the previous week. Upon investigation I found that my logic in calculating position size was wrong, here...

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Create Your Own FREE Forex Data Downloader

Dec 30, 2013

Throughout the years I’ve utilised MetaTrader to download data into programs such as AmiBroker for further analysis and tinkering with. While MetaTrader is a good tool for automating forex trading strategies, I’ve found it to be a little difficult to paint and play with the charts programatically. This is where...

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My MetaTrader Expert Advisor Framework

Dec 18, 2013

Another aspect I undertook throughout 2013 was the continual enhancement of my Expert Advisors by refactoring them. One of the reasons I undertook this was to my newfound knowledge on how MetaTrader processes a tick - which can block ticks when the MetaTrader process is busy: At incoming of new...

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