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Here comes the United States dollar
The United States dollar has it all time highs against the Euro. People are fleeing European countries that are in serious trouble Portugal, Italy, Ireland, Germany, and Spain or PIIGS. They are also selling off equities like gold and oil. This all has forced the dollar to an eight month high against the Euro and sending up US treasury prices. People have lost faith that the PIIGS countries can pull themselves out of their huge budget problems. So to avert risk investors are flocking to US treasuries. All of this has created huge...
read moreWhat are the top 10 global banks by total assets
With all the outrage over banks lately I decided to write a quick summary of the largest banks in the world. This is to help people put in perspective how large certains banks actually are. All of these figures are based on the revenue of the bank. Rank Bank Country Ticker Assets (in US$Mil.) Dividend Yield 1 Royal Bank of Scotland UK (RBS) 3,483,179 N/A 2 Deutsche Bank Germany (DB) 3,068,724 1.04% 3 Barclays Bank UK (BCS) 2,977,491 N/A 4 BNP Paribas France (BNPQY.PK) 2,477,272 1.76% 5 Credit Agricole...
read moreMT4 strategy opens a new position as soon as an old one is closed
One of the most common mistakes when people start programming automated trading strategies is they do not consider all of the different phases your strategy will be in. For instance, I recently had a friend show me their strategy that was opening a new position as soon as the old one was closed. It didn’t matter if it was a stop loss or take profit close. Here is an example of a properly setup exit. You can see in the image above that the position enters on the left. Then it closes 3/4 of the way through. Then it enters...
read moreA function to determine why an order cannot be opened
Here is an example of a function which will display the actual error for why you cannot open a trade in MetaTrader. This is more descriptive then what you get by default. OrderSend(Symbol(),OP_SELL,LOT,Bid,2,SL,TP,”",-1,3); //First you want to send an order if it fails error will = -1 so the code below will kick in if (error==-1) //operation failed because it’s -1 { ShowERROR(error,0,0); //This calls the function below } void ShowERROR(int Ticket,double SL,double TP) //you prefix this function...
read moreHow to only allow one trade per bar in MetaTrader
When trading in MetaTrader you may find times when you only want to allow one trade to take place per bar. This can be accomplished with the code below. datetime Time0 = 0; //Create a global variable Time0 void start() //This is your start function { if (Time0 != Time[0]) //If the Time0 variable we created does not equal the time of the current bar we can continue with our code { OrderSend(… //Here we send our order preferences Time0 = Time[0]; //Then we set the Time0 variable to the current bars time. ...
read moreUsing an array to determine a new bar in Metatrader
Recently I had a friend ask me why his array was not accurately portraying the last 30 bars of data. It is important when you create an Array that you are only changing its variable when the bar closes or opens. Otherwise your array would be getting updated during every single tick(or multiple times within one bar). Here I’m going to show an example of how you can configure your array to only record the changed variable when there is a new bar. The method I will use is on the change of time comparison. This example is helpful...
read moreGeorge Soros says gold is the next bubble
George Soros one the most well known currency traders, if not the well most currency trader today, stated that there are asset bubbles developing around the world. “The ultimate asset bubble is gold”. I cannot agree more. People flock to gold during times of economic crisis. I wrote a previous blog entry on this that goes more into detail. But gold is due for a major downswing.
read moreIs now the time to buy a house in Arizona?
I have recently considered purchasing a new house in AZ and I took time to analyze the market. Hopeful this post will help provide some insight to other people who are wondering if now is the time to buy a house. I use Tempe, AZ in my example since this is the area that I would prefer to move to. I have consier other areas as well Chandler, Mesa, Gilbert, Phoenix, and Scottsdale. However, since Tempe is centralized I figure this is a good enough example to base these nearby cities off of. All these charts are customizable so you can...
read moreExisting home sales down 16.7% in December
According to the National Association of Realtors existing home sales fell 16.7 percent in December brining the annual rate to 5.45 million units. It appears what happened was everyone in the market for a house rushed to buy one in November to take advantage of the government subsidy. The program was then scheduled to expire in November. But after it was extended seven months it looks like people took a breather in December. It should be apparent at this point that housing prices are not sustainable without government intervention. On a...
read moreUpdate to Obama goes to China
I predicted that Obama goign to China would start the $ on a rebound. Here is the original post. http://www.jeremywhittaker.com/?p=274 The $ has gained nearly 300 points since this post as of today.
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