How To Source For FREE or Cheap Finance For Forex Trading

Forex trading is an investment that requires a great deal of finance to invest and enable good returns for the investor. Fortunately retail Forex gives the opportunity for low income investors to participate in Forex.

However the actual cost of trading Forex does not lie only in the funds for trading, but funds for other necessities like Forex Systems, Subscriptions, Hardware facilities, e.t.c, and this is why Forex comes expensive but very lucrative.

See: 1. Requirements to Start Forex Trading

       2. Challenges of trading Forex in Nigeria Part 1 & Part 2

It is important to note that every component of Forex is vital to your success. Therefore concentrating funds only on one or some parts of the components of Forex would definitely hit back at your performance in the medium or long term. 

Now the challenge here is that these components are not so cheap but are necessary. 

This article presents tips on how to source for FREE or Cheap Finances that would help you get the necessary funds you need to invest and succeed in Forex.

1. Contests 

Forex broker contests is one of the best way of getting a funded live account, cash awards, expert advisors, and other benefits that can be redeemable in cash. Brokers top the list of trade contest campaigns, and they award ideal prizes, which you could use to finance your Forex investment. Some trade contest are restricted to only live account while others are organized for demo accounts. A demo account is preferable, and accessible for all traders. One good thing about it is that real money is not required to compete.

HotForex organizes monthly demo contests with cash prizes for Three (3) runners up at the end of each month. The winners get a live funded account, which can be withdrawn (see more details - HotForex Demo to Real Contest). 

See our Forex Resources Page for Broker Listings, and find links of Forex website directory that organizes trade contests. I prefer searching for such brokers with 100ForexBrokers cyber search engine (you can get the link from our broker listings on our Forex Resources Page).

MQL also conducts Expert Advisor contests which is sponsored by top Forex firms. Being one of the top winners is an avenue to source for finances for your Forex investment.

CON

1. Contest can be very tough as you would be competing with more experienced participants.
2. The duration of the contest is often short, which might not work well for long term strategies.
3. Certain prize conditions might not favour you. E.g. cash prize might not be withdrawable, certain amount of volumes or lots must be traded before you can withdraw the cash prize, and certain prizes cannot be monetized such as vacations, and trips to resort. 

2. Free Signal Services Subscription & Forex Systems
There are lots of Free Signal Services out there you could use to improve your profits in Forex. If you are a low income investor in Forex you could use this means to shore up your account, and take some of the profits to purchase vital Forex Resources that would further improve your success in Forex. 

You can check out ForexTSD's endless list of FREE EAs in our Forex Resources Page (look out for ForexTSD on our list of Expert Advisor & Indicators)

Also look out for FREE but reliable Forex systems (EAs, Indicators, Strategies, e.t.c.) that can boost the profits in your account.

CON

1. You might not get adequate support and updates with free products.
2. Certain free subscriptions and Forex systems comes with limitations. 

3. Convert Your Strategy Into Forex Signal Services
Converting your trading strategy into Forex Signal Services

Convert Your Trading Idea Into A Forex Robot

is a good way of monetizing your skills, and making extra income, which you can use to Finance your Forex Investment. The number of clients that would subscribe to your signal service depends on the profitability of your strategy. 

MQL is one of the best places to monetize your trading strategies as signal services. It is affordable and has the widest reach to traders.

See our article on How to Convert Your Trading Strategy To Signal Services.

CON

1. You need to be extra patient to win traders confidence.
2. Very competitive, hence your strategy has to be very good.

4. Loan Facility - WebMoney, Co-operative Societies, e.t.c.
I strongly recommend extreme caution with loan facilities. It is very risky to invest in Forex with borrowed funds. I have had my fingers burnt from this before, and i got hurt really bad. However we cannot dispel this avenue as a source of financing your Forex investment. If you have to use this means then use legal entities like Co-operative societies where you can secure loans with comfortable payment duration and terms. 

WebMoney an online financial payment provider also offer loans for their members with bearable interest rate. See: WebMoney Loan Facility. I have never used this facility so i cannot tell much about it. But if you have any experience with them, we'll be glad you leave a comment. 

Don't bother seeking for loans to trade the Forex from the banks because they tag such investments as high risks. However you might get a bank grant when you apply as an institution or you have credible assets, and collateral to back up your request.

CON

1. Loan facility can be very risky due to the risky and volatile nature of Forex.
2. WebMoney requires a formal passport, and automatic scoring for members requesting loans. Your membership period and region might be used as a criteria for loan acceptance. 

5. Take Advantage of Seasonal Offers and Discounts:
Watch out for seasonal times like Christmas, Halloween,

Black Friday, e.t.c. when most Forex firms, and brokers usually offer discounts for their products. With a little budget you could still afford some of these offers. The idea here is to make good use of the product to generate more funds for other resources.

CON Seasonal timing might be a problem if you have not planned for it.

6. Convert Assets Into Funds
Please exercise caution with this tip. Forex ought not to be invested with proceeds from mortgaged properties or assets you're not willing to lose. You have to be very sure of the product you want to purchase, the broker you wish to open an account with, or the subscription you intend to follow before selling off any asset to finance it. 

I would not advise this option for beginners. However it's still a means of sourcing for funds to finance your Forex investment.

 


 7. Attend Webinars & Seminars that advertises and launches new productsThis is a choice option for Forex service producers, brokers, and others to advertise their products, and at the same time present lectures. Often times new products are launched through this forum. Although rarely do you find zero prices on products in seminars but you could be lucky to get some FREE, and at great discount too.

CON

1. Issues of unfavourable hidden conditions are sometimes tied to FREE or discounted products.

8. Bonus Offers & Low Minimum Account Opening
Some brokers allow very low minimum account opening for as low as $100. Although i would not recommend this for any serious Forex trader. Some also offer bonus deposits into your account during promotions. 

This is a way of sourcing for funds for your Forex investments.

CON

1. Very low minimum account opening is very risky. It is synonymous with gambling.
2. Some broker require large amount to be deposited before you get the bonus.
3. There has been lots of bonus withdrawal issues between clients, and certain brokers.

Forex Trading does not come easy as many traders think. The level of success you'll attain in Forex greatly depends on the level of finances, and resources you put into it.

We hope we have been able to show you some ways to secure FREE and cheap funds to finance your Forex Investment.


Love our articles, then like us on Facebook and be a part of our Forex Resources Community on Google Plus.

Why You Might Need A Forex VPS Service

Forex VPS service is a virtual machine platform, which

Image courtesy of Stuart Miles/ FreeDigitalPhotos.net

provides 24 hours 7 days computing resources for users to host their Forex Terminals, Expert Advisors, Signal Subscription, and other Forex Systems on the VPS in a remote server centre. This means your trading platform would be running online 24/7, and you will not miss any event or trade call for automated systems.

Obviously some Forex traders have never had it in mind to use a Forex VPS service, while some really do not know if it will be of any good to their trading success (just an extra cost to ignore......). 

Not utilizing a Forex VPS service could be the missing link to your success in Forex. It could be one of the vital resources you need to supplement or improve your achievements in Forex.

This article presents reasons why you might need a Forex VPS Service.

WHY YOU MIGHT NEED A FOREX VPS SERVICE

Image courtesy of supakitmod / FreeDigitalPhotos.net

No. 1: You might need a VPS Service if you find yourself in the same place like Nikky.
Nikky is a trader, and a business enthusiast who have to reach out to clients located miles or kilometers away from his business location. He is always on the run to meet up

with schedules, business meetings, and at the same time squeezes out time to trade the Forex as an alternative source of income. 

Definitely Nikky would always face challenges keeping to date with Forex news release, certain trading sessions, and timely price actions due to his business trips. So a Forex VPS service would be a better choice for him.

No. 2: If you work like Shane then you'll need a VPS service.
Shane is a multi talented person who's gifted with multiple skills. She engages in home and exterior decorating services, wedding planning, consultancy, and looks after her kids. In addition to this she trades the Forex. Of course i bet she would not be able to give the best of time to these tasks equally.
 

She often abandons her Forex trading unknowingly to attend to these tasks, and therefore makes very little or nothing out of it. A Forex VPS solution would be of great help to her.

No. 3: If you share the same challenge like Sam then you must try out a VPS option.
Sam is a professional utility worker. He works in an offshore construction firm. More often his company projects are located in remote areas lacking good communication network. 

He works round the clock but loves to trade the Forex as an

Image courtesy of scottchan / FreeDigitalPhotos.net

investment option. He is only focused on the Forex when he is on his short time vacation or during time-offs. This leaves him with little chances, and less opportunities to trade the Forex. In order for Sam to make the best out of his investment in Forex, he sought for a Forex VPS plan, and subscribed to automated systems, which he hosted in the VPS system. This improved his success in his investment on Forex, while concentrating on his job.

No.4: If you face the same restrictions like Mike then you need a Forex VPS solution
Mike is a customer relations officer in a high brow commercial bank. He has to attend to customer complaints through face to face contacts, phone, email, and all available support medium. The challenge is that most commercial banks if not all do not allow their staff to use their personal laptops while at work in the banking hall (this is more prominent in Nigeria - probably a security policy). 

Also a part of the IT Security Policy in banks is that you cannot install any individual third party application on the bank's computer system. The biggest restriction again is that Mike cannot trade the Forex during working hours in the bank because this would mean "working while you are working".

Mike has a daily target to ensure zero customer complaints else his job could be on the line. Mike can only trade the Forex at the close of work when he gets home usually fatigued, and would most times meet the quiet, and dull sessions of the market. He has no other option than to utilize a VPS solution or use a very long term trading strategy.

No. 5: If you have the same level of knowledge about Forex like Brian and wish to be an investor then you might need a VPS Solution
Brian has little knowledge of the Forex but he is very interested in investing in it. Unfortunately he hasn't all the time to spare to learn adequately, and watch the market so he decides to be more of an investor than a full time trader. 

He gets the best Forex systems, subscriptions, trade managers, and hosts it on a VPS, and regularly checks the performance and growth of his account. So he has a system trading for him 24/7 on a VPS.

No. 6: If you need the same resources like Onyebuchim who manages many accounts 

Onyebuchim is a Forex trader who manages many client accounts. He also uses multiple terminals to monitor price feeds, price action, strategy tests, and trade certain EAs on other accounts. Unfortunately his computer system would not be able to handle this tasks efficiently due to the limitations, and enormous computing resources involved. 

He therefore subscribes to a Forex VPS Provider, which allows unlimited terminals, unrestricted number of expert advisors, and very good computing resources.
 
No. 7: If you wish to subscribe to any of our Top 7 MQL's MT4 Signal Providers 

MQL the makers of MetaTrader 4 & 5 has over 3,600 Forex Signal Services available for subscription directly through its terminal. The signal services works through an automatic execution on your account. You can subscribe to either of these signals and host them on a VPS Platform, which gives you the benefit of not losing and trade. 

See the Top 7 MQL's MT4 Signal Providers

In one way or the other we all have experienced these challenges sometimes, or worse than the examples stated above. However the gravity of the challenges differs according to your personality. Therefore not everyone would need a Forex VPS plan. 

Many traders gave up on Forex not because they had series of losses but because they had no time to concentrate on the market. So if you find yourself facing either of these challenges or worse, and you are determined to trade the Forex successfully then get a Forex VPS solution. 

FURTHER READING

1. Quick Guide On What To Consider When Choosing A VPS Provider
2. Top Five (5) Forex VPS Providers - (Non-Brokers)

Guide To Selecting A Forex VPS Provider

Your choice of a Forex VPS Provider could crush your success in Forex or improve it. Forex VPS solution is meant to take-off the stress, and computing resource challenges from a trader.

There are many factors that should be kept in mind when choosing a Forex VPS hosting provider.

Here are some of the important factors to consider when choosing a VPS Provider: 

• Technology: Look out for VPS Providers that utilizes efficient, and robust server technology with data disaster recovery and backup systems. Linux & Windows technologies are ok. However i would prefer Linux for server systems. Cisco is preferable for cloud systems.

• Easy Access: Are they easy to access from any device, and remote locations? They should allow all forms of access like smart phones, androids, tablets, PCs, e.t.c. with security authentication.

• Flexible Plans: They should offer flexible plans with standard features on all plans. 

• Availability: A VPS service should run 24/7 round the clock. This means that their services should be available to you at all times and in all seasons. Inquire about their source of power supply, and backup power supply.

• Expert Advisors: There should be unrestricted access to install any expert adviser of your choice including other  Forex software and systems. 

• Internet Connection: There should be minimal latency and stable connection from the VPS system. Dedicated IP address should be preferable.

• Protection: Consider all forms of protection inclusive of data, hardware, and user authentication. The data centre must be located in a secured room with intrusion protective systems

• Support: This includes both technical and non technical support is extremely necessary. The response time should be at least within a 12 hour period. Lookout for VPS Providers that utilizes social networks for their support systems.

• Payment Options: A variety of payment options is ideal to enable low or zero cost fee in paying for a plan. There should be a payment plan that suits your locality.

If you need further guide on choosing a Forex VPS Provider, try our FX Consulting Service - Its FREE. We'll be glad to help you.

FURTHER READING

1. Top 7 MQL's MT4 Forex Signal Providers
2. Top Five (5) Forex VPS Providers - (Non-Brokers)
3. Reasons Why You Might Need A Forex VPS Solution

Top Five (5) Forex VPS Providers - 2016

(Edited 15th January, 2016 - *New VPS Added) A virtual private server (VPS) is a "virtual machine" with the capability of providing computing services over the internet or network. In other-words they are like your regular desktop

Copyright images - www.pokerbotshop.com

or laptop computer with software programs only that they are located miles away in a cluster of super computer server rooms. However you can do the same regular computing task you would normally do on your desktop computer on the VPS (virtual machine) with significant advantages.

Some companies offer divers hosting services either through virtual private server or virtual dedicated servers as an addition to the regular web hosting services. 

However we would be looking at the virtual private servers, which is commonly used to host Forex services in a dedicated and efficient way. We will also present our top Five (5) VPS Providers.

IMPORTANT
Please see the following guides below before considering a VPS plan:

1. Guide To Selecting a Forex VPS Provider
2. Reasons Why You Might Need A Forex VPS Service 

The Top 5 Forex VPS Providers were carefully picked based on industry standards, and user preference.

Parameters Used In Selecting The Top 5:

1. Latency: Very important due to the instantaneous nature of Forex trading (price feed sources)
2. Support: Extremely essential in times of unforeseen downtimes. We also considered social support networks like Facebook, +Gmail, Live Chat, Twitter, e.t.c.
3. Hardware: Server type, memory, CPU, disk space, hardware reliability, and compatibility.
4. Price: Of course everyone wants something fair enough. So we looked at flexibility and good price options.
5. Bandwidth: Internet allocated bandwidth, private IPs, e.t.c.
6. Expert Advisor: Restrictions, free EAs, how many EAs per account, e.t.c.
7. Platform: MT4, MT5, do they support proprietary platforms?, are they preinstalled?, e.t.c.
8. Plans: Flexibility of the payment plans.
9. Guarantee: Ensure client's confidence for refunds of fee.

Warning: FXTradeCity would not be held liable for any performance issues or undesirable results from these providers. Interested persons (traders) are advised to carryout personal due diligence checks on any of these providers before subscribing. See our Risk Disclaimer Notice and Privacy Policy for more information.

TOP 5 FOREX VPS PROVIDERS (edited 13th Jan, 2016)

	NextPointHost	**new TradingFXVPS	STVPS	CNS	Linkup Host
Price/m	$15.00* $30.00* $45.00*	$25 $45* $90* $180 $250	$34.99 $39.99 $64.99* $249.99*	$30.00 $65.00	$22.00 $44.00 $66.00 $88.00
Disk space	10GB 20GB 40GB	40GB 60GB* 100GB* 160GB 200GB	25GB* 28GB* 30GB* 60GB*	20GB 30GB	22GB 44GB 66GB 88GB
CPU	2x2.4Ghz, 3x2.4Ghz, 4x2.4Ghz (Intel® Xeon® E5645)	1, 3, 4 CPU Cores	1, 2, & 8 CPU Cores	2, 4, & 6 CPU Cores	2x2.4Ghz, 3x2.4Ghz, 4x2.4Ghz, 5x2.4Ghz (Intel® Xeon®)
Memory	1GB 2GB 3GB	2GB 4GB* 8GB* 12GB 16GB	1GB 2GB 2GB* 10GB	Varies (add RAM in blocks of 128MB) up to 3GB*	1.5GB* 3.0GB* 4.5GB* 6.0GB*
EAs	Free 100 EAs	Free installation & setup. All EAs accepted	Premium EAs through subscription	Premium EAs. Users are free to install EAs
Bandwidth	Unlimited	Unlimited	Unlimited	Controlled	Unlimited
IP Network	Dedicated IP			Dedicated IP	Dedicated IP
Terminal	Unlimited Terminals MT4 & MT5 Preinstalled	Metatrader Preinstalled upon request	Limited according to subscription plan		MT4 & MT5 Preinstalled
Setup Cost	FREE	FREE	FREE	FREE	FREE
Support	Live Chat, Ticket	Live Chat,Ticket, Skype Call	Live Chat, Ticket	Technical Support	Ticket
Operating System	Linux	Win2012	Win 2008 Win2012	Win 2003 R2, 2008 R2, 0r 2012, Linux*	Win 2008 Server
Protection System	Never Reboot Protection, Firewall/ Monitoring DDOS/Intrusion Protection & Secure, Redundant Datacenter	24/7 Network Monitoring, Concurrent Maintainable Data Center, Fully Redundant system, DDos & Intrusion Protection, SSD RAID 10 Disk Array		Two-factor Authentication, dual firewalls, network monitoring, intrusion detection,& attack response	Remote reboot, DoS & Intrusion Prevention, Firewall & network monitoring, Antivirus
Access	From any PC, & Smartphones	Remote Desktop Connection, PC, Android, iOS Phones, VNC		Remote admin, PC, Android, iOS Phones	PC, Smartphone, iPAD, iPhone
Payment Option	PayPal, MasterCard, VISA, Discover, Perfect Money, Wire Transfer	PayPal, MasterCard, VISA, Bank Transfer	Paypal, Skrill*	Paypal, Moneybookers, Google Checkout, Bank Transfer, Mail In payment	Paypal, MasterCard, VISA, Skrill, Discover, Perfect Money, Bank Transfer
Money Guarantee	30 Days	30 Days		30 Days	30 Days

* Updated 15th January 2016 - see comments section for changes

If you wish to know the benefits of a Forex VPS Service to your Forex trading then read this: Reasons Why You Might Need A Forex VPS Plan.

Also see our short guide on: What To Consider When Choosing a Forex VPS Provider.

Happy Trading....

How To Fix Very Slow Forex Trading Platform

Slow performing or frozen Forex platform occurs more often when there is an overload on the resources of the platform or computer or data corruption in any vital object of the trading platform or an EA/indicator crash. Sometimes the effects also spills over to the overall performance of the computer. 

This article helps you to detect the cause, source, and solutions to very slow or persistent frozen platforms.

Computer programs that demands high resources are usually prone to crashes because they are often denied the required resources that would allow them perform optimally due to other tasks on the queue demanding for resources as well. Your MetaTrader Trading Platform is one of such computer programs.

Clarification: Computer resources are mainly the computer processing speed, hard disk storage, and memory.

MetaTrader Trading Platform like every other trading platforms are data-centric i.e. they require data to give results or perform their functions effectively. The data here is the currency feed or market price, which is downloaded in ticks from feed providers through your broker to your platform. The tick data is continuously downloaded as long as the Forex market is active, and your platform is connected online. Without this data feed you would not be able to get market prices to trade, and any disruption or disconnection from this feed would cause truncation of data, which results to common issues like "requote", "no network", "wrong TP/SL values", and outright freezing of the platform.

Download: StrateQuant's Tick Data Downloader * FREE

Before we present the causes, and sources of platform sluggish performance, let us see the requirements needed for the installation and operation of a trading platform. For this guide we will be using MetaTrader 4. 

System Requirements

Minimum Requirements	Recommended Requirements
Operating systems: Windows 2000,XP/Vista/7 Processor: 1.5 GHZ RAM: 1 GB Screen resolution: 1024×768 Internet Requirements: - Broad band internet connection Hard Disk: 100GB  Internet Explorer version 7.0 / Mozilla Firefox 20 upwards or the latest release of the browsers.	Operating systems: Windows Vista/XP/2000 Processor: 2 GHZ or higher RAM: 2 GB or more Screen resolution: 1280×1024 or higher Internet requirements: – Modem/connection speed 36.6 Kbps or faster Hard Disk: 200GB or higher Internet Explorer version 10.0 / Mozilla Firefox 24 or the latest release of the browsers.

The two (2) major sources of sluggish platforms or persistent frozen platforms are low computer resources, and platform object issues.

LOW COMPUTER RESOURCES

If you frequently experience either of the symptoms below then your computer is likely the source of the problem. You need to see a computer technician or source for guides on the internet on how to maintain/re-install your operating system.

1. Strange and uncoordinated mouse/keyboard movements.
2. Sudden system crashes especially after booting the computer.
3. Most programs generate error messages when they are opened.
4. You get weird system error messages on a blue screen and then sudden system halt.
5. Programs take an unusual time to open often.
6. Copying and saving to hard disk or external drives is a herculean task.

In some cases resource leaks could be the problem. Resources leaks are computer programs, which do not release your computer's system resources when needed and thereby cause your computer to become unstable. Rebooting your computer should resolve this kind of problem. A better way of managing resource leak is to turn off programs after using them.

To see your computer performance and resource management, follow this steps. 

1. Press CTRL+ALT+DEL. This will activate the Windows Security Window with options like: Lock, Switch User, Log Out, Change Password, Windows Task Manager, e.t.c. Click the Windows Task Manager.


2. On the Windows Task Manager click the Applications Tab. You should see a list of Programs with their status. If the Trading Platform is frozen the status would change from running to "not responding".


3. Click the Performance tab to see the CPU usage and Memory including a graph of the peaks. CPU usage above 80% to 100% peak is an extremely serious case.
   
   


4. Click the Process tab to see the objects running at the background of the computer. Find terminal.exe on the Image Name column. Look at the far right for the value on the Memory (private working set) column. This is the value of the amount of memory being consumed by the application (terminal.exe). An extreme high value means something is wrong. An ideal value should be around 300,000k to 500,000k max. Higher activities would go as high as 700,000k.
   

From the illustration above we can see that my MetaTrader 4 is consuming over 800,000 bytes of the computer memory. (Actually i posted this when i had an issue with an indicator on my chart.) 

The windows task manager is the best utility to help detect causes and sources of program crashes. Keep this utility open while we undergo the troubleshooting steps.

CAUSES OF PLATFORM SLUGGISH PERFORMANCE

1. Overloading your charts with too many indicators, and expert advisors beyond its capacity. This is a common cause of platform crashes. Some indicators are poorly written without error traps, which floods the computer with too many dumps and errors to handle.


2. Overloading the bars in the charts beyond what your computer resources can manage. MetaTrader 4 trading platform is capable of taking a maximum number of 999999999999 bars in the history and charts. Actually you do not need more than half of this unless for back testing purpose.


3. Opening too many charts beyond the capability of your computer resources. MT5 allows more charts to be opened seamlessly with less resource restraints.


4. Trading with an outdated platform. New versions comes with solution to bugs, and enhancements.


5. Opening many instances of the same trading platforms.


6. Extreme volatility especially during core news release.


7. Very poor internet connectivity.


8. Data corruption of your platform's log files, and system files.

HOW TO FIX SLUGGISH PLATFORMS AND PERSISTENT FROZEN PLATFORMS
First follow the steps above (how to see your computer performance and resource management). Leave the windows task manager open for the rest of the steps. 

1. Elimination method: Most times when you place a new indicator or expert advisor on your chart, the platform freezes immediately.
• Disconnect your internet connection to release the platform from its frozen or sluggish state.
• Take out the indicator or expert advisor. Restart the trading platform (optional), and reconnect the internet.
• Check the application status from the windows task manager if it is running. Check if the values of the process object (terminal.exe) has reduced. Also check the CPU usage and memory usage if it has dropped. 
• Normally your trading platform should return back to normal otherwise repeat this steps until you identify the indicator or expert advisor causing the problem.


2. Reduce Price Bars: There are two major needs for price bars in your trading platform, which is "bars in history" and "bars in charts". The bars in history is required for back testing purposes. When your platform downloads tick data, they are stored in the history folder in your hard disk. The "bars in chart" are the candles on your chart in the form of price you trade with. The chart can take a bearable number of bars depending on your system resources. A high number of bars would need a high number of resources to handle object painting on the screen, calculations, drawing, and execution of other tasks in nano or mini seconds.
   
   Reducing the numbers of "bars in chart" by 50% would reduce memory and resource consumption, which would enable faster platform performance.


3. Be careful with indicators that repaints. They are resource consuming. Examples are automatic trendline drawing systems.


4. Don't overload your charts with indicators, and expert advisors. Use magic numbers to allow one expert advisor trade other charts rather opening many charts with the same expert advisor.


5. Update your trading platform regularly. The latest build for MT4 is build 509.


6. Ensure your computer meets the system requirements needed for your trading platform and other external trading resources. It is better to watch live news streaming for news release on cable satellite television while preparing to trade the news. This will reduce the bandwidth and resources your computer would consume.


7. Inform the developer of your indicator or expert advisor about your experience while using their products. Request for light weight versions.


8. Carryout a complete re-installation of your trading platform to restore corrupt data files.


9. Upgrade your operating system, and memory.

Here are some utilities and tools you could use to check and fix corrupt system files that causes overall sluggish performance:

1. DLL Suite: An advanced Microsoft Windows DLL files  fixer, a DLL repair tool that allows you to fix DLL errors, fix EXE errors, fix SYS errors, fix corrupted files and download missing DLL files for Windows 7, Windows Vista and Windows XP PCs, both 32-bit and 64-bit operating systems.  



2. Registry Nurse: An award-winning Windows Registry cleaner that helps you scan your PC, safely clean the errors & invalid entries cause system slow, freezing and crashing, and repair registry problems to speedup your computer performances with simple operation.

As you take each of these steps, go back to the Windows Task Manager, to see the effect of the action. A reduction in the memory, and CPU usage shows positive results.

We'll be glad you share any tips on this subject to help other traders like you.

RECOMMENDED ARTICLES

1. 10 Differences Between MT4 & MT5 which is best?
2. Forex Trading - Requirements To Start Trading 
3. How To Convert Your Trading Strategy Into Forex Signal Services

BreakThrough Expert Advisor - Personal Review

This is a personal review of my experience with the BreakThrough Expert Advisor. Interested users are advised to carryout their personal test with this EA before using it.

This article is not a solicitation to use this EA. The writer and this website shall not be held liable for any performance beyond the expected results of the EA. Please read our risk disclaimer notice, and privacy policy.

BRIEF

The BreakThrough EA was designed by greg18 (username on Mql4.com Codebase Forum - See Profile). It has the ability to automatically place trades with the aid of trendlines drawn on the chart by the user. Trades are placed by the EA when the trendline criteria is met.

See further description of the BreakThrough EA

MY PERSONAL EXPERIENCE

My first experience with this EA was amazing. I love trading the trend because there are higher success rates if you are able to trade the right trend. I designed a unique Moving Average System, which i supplement with Support & Resistance tools to trade the trend. I also love trading breakout systems. So this EA supplements my efforts by automatically placing trades through the trendlines drawn on my chart.

Here are some of the trades the EA placed and won.

1. AUDUSD 30M - 30th Sept, 2013 (10:00 AM EST) - 10 Lots = $880.00. The EA placed the trade after price cut above the down trendline.

2. EURUSD 30M - 30th Sept, 2013 (10 Lots - $5,250.00)

These are the two trades the EA has placed so far through the trendlines i drew on the chart.

MY VERDICT

Advantages

1. Very good for trend trading strategies.
2. You do not need to watch the chart all the time waiting for a breakout on the trendline before placing your trades.
3. Supplements trend trading systems.
4. Precise and accurate entry.
5. Works in all trend situations.

Disadvantage

1. You need to remove old trendlines from the chart else when price repeats such areas it might place orders unknowingly. (I am yet to verify this)
2. Not for everyone. You must know how to draw trendlines because the EA thrives on it to place trades.

See our Forex Resources Page for links to Forex Strategies where you can get resources on trendline trading systems.

HOW TO GET THE EA

Click the Code Base Tab of your MT4 Platform, and look for BreakThrough EA. You can also get it directly from http://codebase.mql4.com/8974?source=terminal4_codebase

We would be glad you leave your comments on your experiences with this EA.  

StrategyQuant EA Wizard: Build any EA you want. Convert your trading idea into a Forex Robot.