Managing Forex Trading

The forex market keeps on changing as some events can not be controlled. Despite the unpredictability, it is better for a trader to make decisions that will assist in managing forex trading.

The trading decisions must be based on the factors that are likely to sway the market trends. The decisions should also be ambitious so that you get more profit. If the orders are tight, then the profit will be low.

Low profits can be lost when recovering the difference that separates bid and ask price. Small bid trading is not sustainable for a long term.

As part of managing forex trading, it is better for new traders to decide in advance if they will have a broker to trade on their behalf or they will trade their own money. Those who chose to let brokers to do the trading should let them to make independent decisions.

Traders who interfere with the way brokers are trading only increase the chances of making losses. The decisions that the brokers make may be a long term strategy. The benefits might not be immediate but in the end the trader will make good money.

In case your decisions backfire on you and you make losses, it is better to strategies how you will recover from that. You should use the moment to strategies more on managing forex trading in a way that focuses more on profit making.

When such a thing happens; many traders seek advice from various sources. It is advisable to get advice from just a few for easier implementation.



Source by Timothy Stevens

Ordersend Error 134 – Err_not_enough_money

If you are getting the Metatrader 4 error: Ordersend Error 134, it means you do not have enough money in your account to place an order with the given lot size. What should you do?

Ordersend error 134 tends to happen a lot when people code expert advisers with a money management style that increases lot sizes such as Martingale. Sometimes the lot size gets too big and you do not have enough margin to place the trade. This can also happen over time if your account balance gets too low or if you select too large of a lot size.

The error occurs when you try to place the trade, so it is an "ordersend error". To prevent this error you can check your account free margin before attempting to place a trade. To do this you will use the function, AccountFreeMarginCheck ():

double AccountFreeMarginCheck (string symbol, int cmd, double volume)

Returns available margin that remains after the specified position has been opened at the current price on the current account. If the free margin is insufficient, an error 134 (ERR_NOT_ENOUGH_MONEY) will be generated.

Parameters:
symbol – Symbol for trading operation.
cmd – Operation type. It can be either OP_BUY or OP_SELL.
volume – Number of lots.

an example would be:

if (AccountFreeMarginCheck (Symbol (), OP_BUY, Lots) <= 0) {// there is not enough margin in the account, so do not trade return (); }

Another function you can use to find the remaining margin is:

double AccountFreeMargin ()

This returns free margin value of the current account.

The following example prints out the free margin for your account:

Print ("Free margin is =", AccountFreeMargin ());



Source by Jim Weldon