Forex morning trade ea free download

Posted: Elmenceva Date of post: 05.06.2017

My Forex Morning Trade System has proven to be a very successful for me, and I am confident that after you finish reading this manual and practice trading it for few days, you too will be ready to start making real money successfully in the Forex market. Before taking you through the system step by step, I will give you a short overview of the Forex Morning Trade System. The system is relatively simple to learn and to use ; it is throughoutly tested and gives very good and stabile results.

In fact, I had almost no loosing month for the last 20 months. Really, this time is enough to check for the signal and set up the trade. The trade will either hit profit target or stop loss automatically.

In the next sections I will show you how to install and set up the system , how to use it to enter and exit the trades, how much capital you need for trading, how to manage your risk and so on. I believe you are already eager to see how Forex Morning Trade System looks like.

I will explain everything in more details, including setting up the system in the following sections. The system is based on sound fundaments. It uses increase of volatility that happens in the beginning of European trading session, plus unique combination of indicators that give us high probability estimation on the direction of the future movement. It looks quite simple, right..?

forex morning trade ea free download

In this section I will take you step by step through everything you need to set up so that you can start using the system. It is important to note that Forex Morning Trade System and its indicators have been designed to work with the MetaTrader 4 trading platform. MetaTrader is widely used trading software, and you can download it for FREE from your broker. When you successfully installed MetaTrader, you can proceed to install the indicators. Forex Morning Trade System comes with one custom indicator — called FxMorningTrade.

It is quite helpful indicator, as it shows us when we should trade and even what the stop loss and profit target levels are. This indicator is available with this book file FxMorningTrade. Before doing anything, shut down MetaTrader. The indicator file FxMorningTrade. Installation is quite simple, and similar to installing the indicators before. You can start MetaTrader now.

To open the chart, click on the New chart icon on the top left corner and choose GBPUSD currency pair. This opens the chart for GBPUSD with default settings.

You will see green bar chart on black background that is set to 1 hour timeframe. Something like the picture below.

First thing we need to do is to change timeframe to 15 minutes. You can do it by clicking on the M15 icon on the top of the chart.

Try it again and then shut down and restart MetaTrader.

forex morning trade ea free download

Almost the last thing we need to do is to synchronize the time of the FxMorningTrade indicator with the time zone of your broker. Remember that different brokers use different time zones , which means that the same candle bar on the chart can have value 8: We will check for trading signal every day at 5: To determine the time zone of your broker, simply scroll the chart to the right to the very last bar , and check what its time is MetaTrader has to be connected and must receive data.

I can see that the broker time at the last candle is So when in reality we will trade at 5: Now we should set up our FxMorningTrade indicator so that it uses broker time. Click anywhere on the chart with the right mouse button, and choose Indicators List from the menu.

This will display the list of indicators that are on this chart. Choose FxMorningTrade indicator, and click on the Edit button. Here, the BeginTime should be the time when we are checking for signal which is 5: Click OK to confirm the dialog, and then Close to close the Indicators List window. The very last thing we should do is to display the Data window. Go to the MetaTrader menu, and click on the Data Window menu. In the same way, display also the Terminal window.

Go to the MetaTrader menu, and click on the Terminal menu. The Momentum indicator is a speed of movement or rate of change indicator, that is designed to identify the speed or strength of a price movement.

In other words you should be buying when the price is picking up momentum and selling when thatmomentum has been lost. The rule is that we go long only if the Momentum is higher than , and go short if Momentum is lower than The Commodity Channel Index indicator is based on an observation that the market moves in cyclical movements which means high and low of the price are coming in periodic intervals and in consecutive fashion.

So, if we can detect those cycles we can detect the beginning and the ending of the trend. I will explain my custom FxMorningTrade indicator — an optional component that simplifies the trading by checking the signals for us.

One function of FxMorningTrade indicator is to draw blue background on the chart , indicating the start of our trading hour. If everything is set up correctly according to the previous steps, we should buy or sell at the first candle that enters the blue zone. The second function of the indicator is to give us helpful text information about the trade signal. In the picture on the left, you see the indicator when the time is different than our trading time.

The indicator checks the rules of the system and gives us a clear guide to go LONG buy , SHORT sell or NO TRADE. In addition to that, it also gives us the ideal entry price and Profit Target and Stop Loss levels. As I said earlier, our trading time is 5: You should get to the computer about 5 minutes before 5: We can see that Momentum is above but below ,8 and CCI is also above 0, so we enter Long by Market price.

We can see that Momentum is below but above 99,2 and CCI is also below 0, so we enter Short by Market price. We will NOT TRADE for the day if some of the conditions are not met. At 22 July , you can see that the conditions to enter either long or short were not filled. Momentum is below , but CCI is above 0. The exact values of Momentum and CCI are visible on Data window on the left side.

You can notice that also the FxMorningTrade indicator gave us NO TRADE signal. In the example screenshots before I hid my FxMorningTrade indicator , so that you understand the core of the rules. My FxMorningTrade indicator makes it very convenient to trade, because it automatically checks the conditions for you and give you the guidance — LONG , SHORT or NO TRADE.

At least in the beginning you should read the indicators for yourself. You should always know what you are doing and double check before you enter the trade. We will always use fixed Profit Target 40 pips and fixed Stop Loss 40 pips.

You can leave the computer and check the result in the evening or next morning. I will give you a practical example of how I read the signal and enter the position, including setting the profit and stop loss targets. Momentum was over , CCI was over 0 — we can see it also on the FxMorningTrade indicator that gave us LONG signal.

Now we have to enter a long position at a market price. I do it by clicking on the New Order button on the toolbar. You will read more about that in the next chapter Money management. Next, I have to set up the Stop Loss and Profit Target levels. In the screenshot below you can see that I copied the values from the indicator rounded to 4 decimal points. Then, because we are going LONG I click on a Buy button in the dialog. If the signal was SHORT, I would click on the Sell button.

When the trade is processed, which usually takes about seconds, the program displays confirmation dialogue. So now I opened a new long trade, I bought for 1. Instead, I use the values provided by FxMorningTrade indicator.

The difference is usually within pips, which is pretty acceptable. If you want to change these values to exact 40 pips, you can always edit the position from the Terminal window, by right clicking on it and choosing Modify or Delete Order. If you use such broker, you simply create a market order and then set Stop Loss and Profit levels by Modify or Delete Order.

Forex Morning Trade

After the entry it went down a little, going close to our Stop Loss, but then it reversed and went up as expected. Two and half hours later it hit our profit target, and we have made 38,3 pips.

Money or risk management is the most important part of the trading , MM is what will determine if you will make money or lose them in the end. There is a saying that the only thing the trader can control is his risk.

You cannot control the market, or where the price will go, the only thing you can really control is how much you risk in one trade. Trading is not a gambling, it is a business. You should take the long term view of trading, not the get-rich-quick approach.

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Stop Loss SL is an order that will tell the system to cancel the trade at the given loss, if the market is going against us. This way it protects us by keeping our loses defined and small.

Trading without SL or moving SL will eventually lead to account wipeout. If the market is going against us, we should simply accept the small loss and quit the trade. All trading systems are based on probability or some edge. There is no system that will only win. Forex Morning Trade System uses fixed Stop Loss of 40 pips, so you will never lose more than 40 pips on one trade.

Because our Stop Loss is always 40 pips, you can trade Forex Morning Trade with 0. Because our Stop Loss is always 40 pips, you can compute the lots size using the formula: A good rule to remember: If I use 0.

✅ Forex Morning Trade » Free Download & Review

I will list real trades for two consecutive weeks from the past to give you a better overview of different situations. Just to remember, I use Alpari UK broker, so 5: The Momentum at 7: Three more candles later the price hit our Profit Target and we made 40 pips. Two more candles later the price hit our Profit Target and we made 40 pips. Seven more candles later the price hit our Profit Target and we made 40 pips.

Eleven more candles later the price hit our Profit Target and we made 40 pips. This day we will be not trading. Four more candles later the price hit our Profit Target and we made 40 pips.

forex morning trade ea free download

Four more candles later the price almost reached our Profit Target with only a few pips difference , but then fell sharply and hit our Stop Loss. Of course, not all weeks are like this. These two weeks were extraordinary even for this system. But my real trading and back tests show that the most months you will end in profit, and the profits are usually much higher than losses. Your earnings will depend on many things — your account size, your discipline and also current market conditions.

You can see in the results that the past monthly performance varies from 80 to pips per month, and very few months end with zero or small minus. Forex Morning Trade Strategy — Once you handle it on a few demo trades, you can use it on live account — providing you trade with adequate risk, discipline and other conditions of successful trader. Hi, I have a question regarding the FX Morning Trade. In your instructions you say that the time is set to 5: But I am using Oanda and the broker is set to GMT -5 and I live in United States and the time here is in EST.

So I looked GMT time. Example, 5am EST, Then it is 10am GMT time. And my broker is set to -5 then if in your instructions if the settings in the software are set to GMT then it will be the same time EST, am. I am so confused. I like this strategy. I would like to use this strategy. But before I can do do I want to make sure the settings are correct.

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