Metatrader 4 This software development works started from Metatrader 3 and MT4 was eventually released in 2005. It comes with client terminal, Mobile, server and data center manager. The widely used platform on PC is the Metatrader 4 client terminal.
Client Terminal
This software which are installed on windows operating system comes with real time data feed from brokerage server, able to demo trade and perform strategy analysis using strategy tester. It also comes with various trade operations (Buy, sell, stoploss, profit take, lot size, etc) and technical charting (indicator like SMA, CCI, RSI, etc). One of the key feature is the programming language (similar to C language) MQL that allow traders to program their strategy into computer program call expert advisor.
Expert Advisor (EA) This is a program which can be compiled to run on MT4 as a standalone automated trading program. The EA is coded entirely using MQL4 languages and compiled debug using editor. Recent advancement in computer coding has enable multi-currency trading, hedging and signal mirroring to be programmed into a signal programming code software.
What if I have more then 1 account?
The problem surface when you are running more then 1 trading account which is often the case when you are running many demo account to tried out many Expert Advisor. As MT4 installation registered inside windows registry but it did not allocated shared resources for multi software running on the same operating system. In other words, you can copy the whole MT4 program folder and paste into another directory, and execute the terminal.exe. The window will treat this as a separate software and allocated individual resources to it. This is similar to running 2 copies of the software. Using this loophole, you can easily run 6 or 8 MT4 software with different trading accounts on a same PC.
VPS and shared dedicated server
I used the above trick and run 7 trading account on 7 separate metatrader4 software on VPS and shared dedicated server and found it to be running smoothly. The windows 2008 server operating system see each software as an entity and allocate individual resource to run it. Personally, I can run multiple account and charge trader usage of my Expert advisor including server maintenance fees. Am using build 209 at that time.
Multiple window login using background services
I never tried before but heard that if you enable back ground multitasking services and multi user login on linux platform which you can log in simultaneous using 2 or 3 user and run programs, you can effectively be running 7 programs x 3 users, total 21 trading account. If you charge a trade a fees for running expert advisor on their trading account, you have potentially 21 trading account you can load on to your VPS server.
Lastly, if you are running VPS or shared dedicated server, always setup auto-logging and auto-starting the MT4 program. I personally setup this way as when there is server reboot or unexpected power outage, when the power resume, upon server startup, will perform auto login and the program will automatically start and carry on the last trade order. This is just a trick that you need to know.
source http://www.articleonlinedirectory.com/763371/how-to-run-multiple-trading-accounts-in-mt4-fx-trading.html
The guide for reading long-term trends in the foreign currency market
To thrive in the marketplace traders must anticipate, enter, and stay with trends in the foreign exchange market.
In
this much-needed guide top forex, expert Greg Michalowski clearly
explains the attributes of successful traders, and shows how traders can
set themselves up for success by drafting an explicit mission statement
and game plan. The book also contains the tools and techniques traders
need to read the markets and identify when a market is in a trend.
Michalowski shows traders how to enter an emerging trend, how to manage
the position, and how to exit the position most effectively.
- Includes the technical tools needed to invest in the foreign exchange market: moving averages, trendlines, and Fibonacci levels
- Shows how to identify a trend and stick with the trend through its duration
- Written by Greg Michalowski who was cited by SmartMoney magazine as a "go to" source for making money moves
With
this book, Michalowski offers an important resource for identifying and
riding out long-term trends in the volatile foreign currency
From the Inside Flap
Making money while limiting risk is something every good trader
strives to do. But in order to achieve this goal you need a firm
understanding of financial markets, as well as the tools that will allow
you to effectively apply sound trading strategies in them.
Nobody understands this better than author Greg Michalowski—a market veteran who has spent the last ten years with retail forex brokerage company FXDD—and now, with Attacking Currency Trends, he shares his experience in this field with you. Following a step-by-step approach and progressing in a logical manner, this practical guide will help swing trading results in your favor by showing you how to better anticipate and attack the trend in currencies.
Divided into two comprehensive parts, this reliable resource opens with a detailed discussion of how to build a solid foundation for your currency trading. Here, you'll become familiar with the attributes of all successful traders and discover the essential characteristics of retail currency traders. Along the way, you'll also be introduced to specific elements that will allow you to excel in attacking forex trends—namely a mission statement, a game plan, and rules.
After explaining how to develop a solid foundation, the book transitions into the technical tools and strategies used to anticipate and manage forex trends, define risk, and control fear. You'll gain valuable insights into three main charting tools—moving averages, trend lines and remembered lines, and Fibonacci retracements—and learn why successful currency traders look at short-, intermediate-, and long-term time periods equally and trade using all three. Relevant examples are also included, highlighting how trading does not always have to be complicated.
Success in currency trading, as in any business, is based on building the right foundation and using the proper tools. Combining his years of trading experience with his knowledge of retail traders and the nuances of the currency market, Greg Michalowski has created an accessible trading guide that will help you minimize risk, keep fear in check, and capture consistent profits in today's dynamic currency market.
Nobody understands this better than author Greg Michalowski—a market veteran who has spent the last ten years with retail forex brokerage company FXDD—and now, with Attacking Currency Trends, he shares his experience in this field with you. Following a step-by-step approach and progressing in a logical manner, this practical guide will help swing trading results in your favor by showing you how to better anticipate and attack the trend in currencies.
Divided into two comprehensive parts, this reliable resource opens with a detailed discussion of how to build a solid foundation for your currency trading. Here, you'll become familiar with the attributes of all successful traders and discover the essential characteristics of retail currency traders. Along the way, you'll also be introduced to specific elements that will allow you to excel in attacking forex trends—namely a mission statement, a game plan, and rules.
After explaining how to develop a solid foundation, the book transitions into the technical tools and strategies used to anticipate and manage forex trends, define risk, and control fear. You'll gain valuable insights into three main charting tools—moving averages, trend lines and remembered lines, and Fibonacci retracements—and learn why successful currency traders look at short-, intermediate-, and long-term time periods equally and trade using all three. Relevant examples are also included, highlighting how trading does not always have to be complicated.
Success in currency trading, as in any business, is based on building the right foundation and using the proper tools. Combining his years of trading experience with his knowledge of retail traders and the nuances of the currency market, Greg Michalowski has created an accessible trading guide that will help you minimize risk, keep fear in check, and capture consistent profits in today's dynamic currency market.
From the Back Cover
Praise for ATTACKING CURRENCY TRENDS
"Greg has put together a
comprehensive road map for traders, constructing a sound,logical
trading methodology from start to finish. This book succeeds in getting
the reader to think and act like a professional currency trader. Trading
is a serious business and requires serious planning—and that's exactly
what you'll get with Attacking Currency Trends."—Ed Ponsi, Author of
Forex Patterns and Probabilities
"Although Greg admits having a
true risk phobia, it's evident he possesses the skills not only to
capitalize in the currency market, but to transmit his original and yet
simple trading approach. A myriad of illustrated examples and clues
throughout the text support his educational forte. A market profile
explanation right at the start of a forex book is indeed an excellent
conceptual backbone readers will appreciate."—Francesc Riverola, CEO and
Founder, FXstreet.com
"Attacking Currency Trends provides a
simple and logical approach to trading forex that will help any trader
make better decisions about when and how to trade. Greg's rules for
trading forex trends will be especially helpful to traders looking for a
disciplined approachto this massive market. Armed with this
information, rookie and veteran traders alike will have the confidence
needed to profit from opportunities found on —and off—their charts."—Tim
Bourquin, TraderInterviews.com
"Greg Michalowski's Attacking
Currency Trends not only provides in-depth coverage of how to anticipate
and attack trends in the battle to successfully trade currencies, Greg
also empowers traders to be proactive and protect themselves by having a
trading game plan with guidelines. This is a must-read for retail
traders new to FX and those looking to develop further as successful
market players."—Julie Sinha, broadcaster, ForexTV
"I love the
down-to-earth simplicity of this book. Attacking Currency Trends puts
the truth of effective trading into a format that is executable and
understandable. This book will instantly become a must-have reference
work for the retail trader."—Scott Cisco, co-founder and President,
EuodooTrading.com
Attacking Currency Trends: How to Anticipate and Trade Big Moves in the Forex Market (Wiley Trading) Click here to read amazon customer reviews and rating
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