Forex VPS

Just wanted to quickly remind everyone that Forex VPS is indeed a great place to have your MT4 trading platform off of your computer and on to a virtual server.. Why would you do that? 

Well if your computer goes down so does your MT4 trading platform and any of your EAs which had open trades could suffer huge losses because your trades are no longer being managed by your EA..

Safety and security for peanuts.. 

http://www.forexvps.com?a_aid=ForexVPS1

Testimonial which I gleaned from review sites

I have to say the service for the price can't be beat! Let me clarify, they are the first and only VPS I have used. Of course I did find the start up was a bit more involved than I hope, I think that was due largely to my technical knowledge.
The staff offered to install EA's for me when I was having difficulty and even emails are answered lightning fast. 
I would offer this advice if needing assistance use the voice chat and log off your account.
They are great and I am very happy with the service and price

http://www.forexvps.com?a_aid=ForexVPS1

Chris

Reducing my risk

As of late no doubt traders have become increasingly aware of the markets biting back a bit more then as in the past. We are indeed in an era which has not been seen before from a global economic standpoint.

Changes around the globe are not relegated to only stock markets and commodities , we are definately seeing the impact on the forex market.  

The above being the case you can manage your losses by reducing your total overall risk.. For example as FAPT users I have reduced my risk by reducing my LotRiskReductor down on the EUR/GBP and increased the percentage of risk per trade on EUR/CHF..  Why? Simply because I see more full stop losses on EUR/GBP (112pips) then on the EUR/CHF and further the stop loss is larger then on the EUR/CHF (54pips).

Another technique is to watch the markets during the NY session.. If you seem extreme amounts of volatility prior to when FAPT trades then perhaps shutting off your Expert Advisor for the day would be prudent.

And last but certainly not least. Limit the amount of trades you have running on your MT4. For example.. If you have capital less then 1K its probably not a good idea for you to be trading more then two scalping pairs ... 

Chris Forex

New Hedging Rules

Just wanted to briefly explain to traders how the new regulation regarding NFA brokers and hedging means and how it will affect FAPT Turbo.

Hedging is defined as

" Process of protecting oneself against unfavorable changes in prices. Thus one may enter into an offsetting purchase or sale agreement for the express purpose of balancing out any unfavorable changes in an already consummated agreement due to price fluctuations. Hedge transactions are commonly used to protect positions in (1) foreign currency, (2) commodities, and (3) securities."

So how does this affect FAPT Turbo.. Well the new rule sanctioned by the NFA does not take affect until May 15th.. So the new version of FAPT is due to be released on May 17th which will counter these measures by adjusting Max Orders to 1 from its present setting of 2

Now I must further explain that FAPT only uses this setting with the Long Term Strategy of EUR/USD which a great deal of members including myself do not trade. In addition to this if your FapTurbo_Hedging setting is at "0" which is the default this means the robot will not hedge and you need not be concerned.

Just wanted everyone to understand this newest changes and calm some nerves :)

Keep in mind there is training weekly where we discuss issues such as this and other issues which concern the overall settings within FAPT EA .. You can signup here http://www.fapturbomeeting.com

Chris Forex

Having a VPS for trading

I realise some new traders will try to trade using their own computer and the Metatrader4 trading platform.. On the surface it seems like a good idea at the time.. Why pay someone money to host your MT4 and any Expert Advisors which you have attached?

Because I am an IT person and have been in the field for 20+ years really do not have much difficulty keeping my dedicated computer up before during and after trades however I must tell you that I have been caught as well with computer reboots and power outages . Luckily these times are few and far between. In fact I believe its been twice only.. Both times I was in a trade and my computer decided to update and then reboot.. You guessed it.. Now my trades are not being managed anymore because my Metatrader 4 platform did not restart ( I have since fixed it so it wil restart on a reboot) How was I lucky... Well the trades went my way and when I was able to close them I was still in profit..

Now I do not worry about outages since I use a UPS or uninterruptable power supply. Problem solved. Well almost.. The problem is for a really good UPS to last the duration of a power outage you have to spend a great deal of money... 

Okay now my point.. Rather the spend money on a UPS and worry that you are not either getting trades with various EAs because your MT4 trading station is down again .. Why not invest in a VPS or Virtual Private Server? 

I recommend Forex VPS.. They have a great deal of experience backing them plus its affordable, convenient and they will setup your Metatrader 4 program for you ... 

http://www.forexvps.com?a_aid=ForexVPS1  

Until next time.. 

They say I should have a blog

Perhaps like many people I have resisted the blogging phenom of the last what decade? Anyways I can no longer resist. This is an essential part of my life and my diary of my life as a forex trader. Here you can track my trading habits and my overall effectiveness, thoughts and opinions.

I welcome you to what will become what I hope to be a useful resource for the mass of Forex traders lost in the sea of pips. It's extremely important to note that any thoughts, opinions and or rants are exclusively proprietary and are not recommendations of trading advice.. Read and act at your own risk :)

You can also follow me on Twitter... Again another tool which has piqued my interest.

http://twitter.com/fabulousforex

Welcome one and all.

Chris Forex