Monday, October 6, 2008

Forex Blog (2 сообщения)

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My Forex experience and some Forex related information that might be useful to other traders
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  • OrderSend Error 130 — What to Do?

    The expert advisors that work on one broker can stop working on another; the problem with them often lies in OrderSend Error 130. If you see Error 130 in the Log of your MetaTrader platform when your expert advisor should be opening a position, then that means that the stop-loss or take-profit levels are set to close to the current market price. In the MQL documentation this error is called ERR_INVALID_STOPS («Invalid stops»). Some Forex broker set the minimum distance between the current price and the stop-loss/take-profit levels to prevent scalping or abusing the quote delays. That’s not a real problem for the majority of the expert advisors that don’t use scalping. To prevent this error from occurring, you need to change the expert’s code.

    First, you might want to know what’s the minimum stoplevel is set in your broker’s MetaTrader server. Adding this line of code will output the current minimum stoplevel for the currency pair of the chart, where you run the EA:
    Print(MarketInfo(Symbol(),MODE_STOPLEVEL));

    You shouldn’t be using stop-loss or take-profit level, which are closer than MarketInfo(Symbol(),MODE_STOPLEVEL) to the current market price. If your EA calculates stops and take-profits dynamically, this is what I suggest you to do:

    1. Declare a global variable for the minimum StopLevel; e.g.:
      int StopLevel;
    2. In the init() function of your expert advisor define the minimum StopLevel:
      StopLevel = MarketInfo(Symbol(), MODE_STOPLEVEL) + MarketInfo(Symbol(), MODE_SPREAD);
      Note, that adding a spread difference is also required.
    3. The next time your stop-loss or take-profit is calculated, just check them to be not less than StopLevel:
      if (StopLoss < StopLevel) StopLoss = StopLevel;
      if (TakeProfit < StopLevel) TakeProfit = StopLevel;
    4. Don’t forget to refresh the current market rates with RefreshRates() before adding the stop-loss/take-profits levels to the actual market rates.

    That should help in the majority of the cases. At least, for me such handling of the OrderSend Error 130 has always worked.

    Posted on Forex blog.
    Trade with a leading Forex service provider — trade with Ava FX.
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  • Forex Technical Analysis for 09/06—10/10 Week

    EUR/USD trend: sell.
    GBP/USD trend: sell.
    USD/JPY trend: sell.
    EUR/JPY trend: sell.

    Floor Pivot Points
    Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
    EUR/USD 1.2591 1.3147 1.3458 1.4014 1.4325 1.4881 1.5192
    GBP/USD 1.6605 1.7078 1.7396 1.7869 1.8187 1.8660 1.8978
    USD/JPY 100.08 101.79 103.55 105.26 107.02 108.73 110.49
    EUR/JPY 129.92 136.95 141.03 148.06 152.14 159.17 163.25

    Woodie’s Pivot Points
    Pair 2nd Sup 1st Sup Pivot 1st Res 2nd Res
    EUR/USD 1.3086 1.3337 1.3953 1.4204 1.4820
    GBP/USD 1.7078 1.7396 1.7869 1.8187 1.8660
    USD/JPY 101.79 103.55 105.26 107.02 108.73
    EUR/JPY 136.95 141.03 148.06 152.14 159.17

    Camarilla Pivot Points
    Pair 4th Sup 3rd Sup 2nd Sup 1st Sup 1st Res 2nd Res 3rd Res 4th Res
    EUR/USD 1.3293 1.3532 1.3611 1.3691 1.3849 1.3929 1.4008 1.4247
    GBP/USD 1.7279 1.7496 1.7569 1.7641 1.7787 1.7859 1.7932 1.8149
    USD/JPY 103.41 104.37 104.68 105.00 105.64 105.96 106.27 107.23
    EUR/JPY 139.00 142.05 143.07 144.09 146.13 147.15 148.17 151.22

    Tom DeMark’s Pivot Points
    Pair EUR/USD GBP/USD USD/JPY EUR/JPY
    Resistance 1.4603 1.8424 107.88 155.66
    Support 1.3736 1.7633 104.41 144.55

    Fibonacci Retracement Levels
    Pairs EUR/USD GBP/USD USD/JPY EUR/JPY
    100.0% 1.4569 1.8342 106.96 155.09
    61.8% 1.4238 1.8040 105.63 150.85
    50.0% 1.4136 1.7947 105.23 149.54
    38.2% 1.4033 1.7853 104.82 148.22
    23.6% 1.3907 1.7738 104.31 146.60
    0.0% 1.3702 1.7551 103.49 143.98
    Posted on Forex blog.
    Trade with a leading Forex service provider — trade with Ava FX.
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