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Forex Software Setup now supports GPS Forex Robot

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My Forex Software Setup service now supports several new forex robots:

If you have a Forex robot that is not listed in the list of Expert Advisors on the website – we can install it anyway. We support any Forex robot you have in case if you have some manuals about it’s intallation.

To get 5% discount, please use this promotional code: FOREXSPY5D

This code can be used only 10 times. Hurry up!

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MegaDroid is preparing massive update

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As I know from my sources MegaDroid team is preparing Massive Update for their Expert Advisors: Forex MegaDroid, Forex MegaDroid Pro, Swissy Accu-Scalpa and Forex Scalpa…

I have noticed that MegaDroid has a blog at: with many interesting tips for manual trading.

Unfortunately, I don’t have enough info about changes in the EAs in new versions, but I know for sure that after this update users who have been using MegaDroid on two Live Accounts with one IP Address will not be allowed to do that anymore. You will have only 1 live account for 1 receipt number and you can change it by contacting their support, which is working quite good.

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Tips for installation of Leotrader Pro EA

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I was interested in this product since the launch as it was something new in the Forex Eas and had a good profitable performance according to the live trading statements. However, even for me it was difficult to install the EA at first. The new update had solved almost all the problems, but there still exist some issues, so in this article I would like to give people some tips that can help to install Leotrader version 1.10 properly.

1. Options of the Metatrader4 trading platform.

Go to Tools – Options – Expert Advisors tab and check the options as it’s shown in the Leotrader manual.

In Windows 7 and Vista there is need to check if the Metatrader4 trading platform is run from the Administrator rights as the Options won’t be changed. If you use these operation systems, navigate the folder of the MT4 platform, right-click on the terminal.exe file, go to Compatibility tab and check Run as Administrator, then Apply and Ok.

2. The EA can’t connect to the server and can’t be authenticated.

I don’t have antivirus software installed on my PC so I can’t say if one or another antivirus program won’t block the connection of the EA, but anyways I’d advise to disable it. As to the firewall settings, I’d also recommend disable it, as the DLL file of Leotrader needs specific connection and in some cases firewall can be the reason. In Windows 7 and Vista, there are also advanced options of firewall, so you need to ensure that you also disabled firewall there. For unblocking the DLL file, you’ll need to find the DLL file in the MT4 folder, right-click on it and click on Unblock button, then OK. I suggest to recheck the Properties again as for different reasons the file can be blocked again, so in such case you’ll need to recheck all the system if other software is the reason of blocking.

If such tips don’t help, then the problem can be caused by the internet connection and ports which are blocked by ISP. In this case, I’d recommend using VPS service.

3. Error 126, error 127 or MT4 crashes.

I won’t review common issues like options in the MT4 and EA options. If you used the old version of the EA, for some issues the DLL file may not be replaced by the new one of 1.10 version if you used automated installer option. I had some MT4 crashes while trying to attach Leotrader to the chart without knowing the reasons, but I noticed that the new version of DLL file has larger size than the used in the MT4 folder and while I was trying to delete it, the system refused to do it, so I needed to restart my PC and then manually delete the old DLL and paste the new one.
I can’t say anything about error 127, but I solved the problem by reinstalling the MT4 platform.

I doubt that all Leotrader customers know about the issue that the EA needs to be attached to only one chart, but I can’t say about the compatibility with other Eas, so I advise to run the EA on different trading account.

4. Alert window and non-trading activity.

While attaching the EA I had the pop-up window with such messages: “Ignored “open command for signal…” and after contacting the EA support, I realized that it’s only a warning that LeotraderPro couldn’t open the trade with old trading signal, so I just closed the window and that’s all.

Non-trading or incorrect trading is usually caused by the incorrect risk level in the Inputs of the EA or the connection to the broker.

Hope, these tips can help you to solve the problems, which can occur on your PC, and you’ll be glad to use LeotraderPro EA.

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Choosing a suitable broker for the EAs

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There are several people who are taking up forex trading, but for all other people it’s too difficult to become familiar with forex business, so in this case we go to the Expert Advisors (EA), which trade automatically without the clients’ interference.
The following are some of the tips that can help you in choosing a broker for trading with the EA.
1. Regulation: The broker must be registered with a regulatory authority of the country in which they carry out their operations. Due to new NFA rules I don’t recommend trading with the EAs on US brokers as almost all of them will lose the account balance.
2. Reputation: The broker selected should be a reputed person or a firm with experience behind them and a good track record.
3. Quick execution of the trade orders: An experienced broker takes care to execute the buy or sell orders as soon as the option is clicked or. In this case the most suitable is the ECN brokers, but mostly you`ll need a start capital to open such account with the broker.
4. Pip difference: Difference in pip forms the major part of the earnings of a broker. Some even charge variable pip spread. However, it would be wise to keep the pip spread low or fixed for the EAs, but nowadays programmers are trying to put this parameter in the properties of the EA to make it stable, so I can recommend to visit at least customer support to get the information about this issue.
5. Choice of accounts: Brokers offer a variety of accounts like mini, micro, managed and standard accounts. For retail traders who can afford to invest small amount as capital, mini account will be suitable. For those who cannot manage their accounts, they can prefer managed accounts. Those who can invest huge capital can go for standard accounts.
6. Margins and Leverage: All the information pertaining to the calculations of leverage and margins must be obtained clearly from the broker, as sometimes there is no info on the website.
7. Rollover: The long term or swing dealers have to be careful regarding this because the brokers charge rollovers if the trading is not closed on the trading day and is extended to the subsequent day. This tip is especially good for long-trading experts.
8. Trading Platform: Good trading platform should enable both the experts and the novices to trade in the forex market. Metatrader4 trading platform is widely supported by the EAs, so ensure that broker provides such option for the customers.
9. Assistance: the brokers should provide assistance at any time during the trading time.

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Prognosis on EUR for 2011 year

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Forex market continues to fluctuate in a lateral range, but this is a temporary issue due to the season factors as it is expected in December.

In 2011 market will regain the trend, and it probably won’t be in favor of the European currency. There are too many problems that have been accumulated in the euro zone, which have not yet incorporated into the euro: the markets are now in a state of euphoria created by ejection of cash of the U.S. Federal Reserve, so after all factors will be founded in the currency price.

Additional prerequisite for the development of such scenario is a general overheating of the stock market, and perhaps it might cause the fairly significant correction, which only spur exodus of players in dollar assets, but it’s a middle-term scenario.

It’s also not smooth in the long-term prognosis. Problems of European countries should be solved by the launch of economic growth. However, regulators actually are aimed at holding the current position: increasing taxes, cutting budget deficits are expected to keep the euro at a high level for the higher period. Thus, while the growth of peripheral countries wouldn’t be launched, we can’t expect the strengthening of euro at the market.

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New rules make us happy

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CFTC (Commodity Futures Trading Commission) announced final version of off-board currency transaction regulation rules. New rules were called Dodd-Frank Wall Street Reform and Consumer Protection Act and take effect on the 15th November 2010. Now maximum leverage for the main pairs is 50:1, and for exotic (for ex. EUR/USD) – 20:1. Pay attention to the below lists:


Also, according to new rules all American brokers will become NFA regulated and US residents will be forced to use US broker only. There is a reasonable question “What for?” As it was told smaller leverage would lead to safety trading and non-experienced traders would lose less. It aims at minimizing losses and, as the result, the Forex field becomes more attractive So, CFTC cares about us, wants us to get more money, doesn’t it? Let us look at the rules from another point of view. With new leverage you need more money to start trading, more money – more problems. Not all Americans could afford Forex trading before. But with new rules even less people would be able to start trading as now it requires more money. I think it is coming back “old times” when only “Big Bosses” could make a bargain on the market by operating a large sum of money.

But it is not the end. There is another fly in the ointment. If all American brokers become NFA regulated US residents can forget about EAs as most of them use scalping and hedging. NFA doesn’t allow these activities at all. Now everyone will be forced to sit at the PC staring at a monitor with a hope to get some dollars. But before you need to go through Forex school. Also you may try half-automated systems which give you a signal to buy or to sell. As we can see the rules limited US residents and now to become a trader you need to waste a lot of time studying the subject and a lot of money as such education won’t be free of charge.

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Forex Bulletproof team has released new version 1.01

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Forex BulletProof team has released new version 1.01 for BulletProof and HighVoltage Add-on robots.

The main difference between new version and old one is that it now supports 4-digit brokers. Seems that they had many issues from customers and now, when the list of suitable brokers is thiner they decided to do that to make BulletProof suitable for 4-digits. Well, that’s a good idea.

Personally, I think that this is good news. New update proves that people are working on this project and they’re not going to give up trying to make it more popular.

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