Banking Terms Explained

Forex Lot Sizes Explained (Complete Beginner’s Guide)

Forex lot sizes can be confusing when you’re first starting out. But not to fear, this post will show you how they work. Lot sizing is a little different in Forex, compared to other markets, but once you figure it out, it’s actually quite simple. […]

How to Withdraw Money From MetaTrader 5

This might seem like an odd tutorial, but stick with me because it might not be what you think. A common question that I’ve been getting is how to withdraw money from MT5. I thought that the answer was straightforward, so I would always respond […]

Chart Patterns Cheat Sheet (Plus Bonus)

Traders that use technical analysis often use chart patterns to identify potentially profitable trading opportunities. This cheat sheet will help you remember the common chart patterns that traders use. It helps to print it out and tape it to your monitor or put in your […]

How to Install Custom Indicators on MT4 Mac

Let's talk about the so-called “MT4 for Mac” solutions out there. I don't recommend them. But if you insist on using them, here's how you install custom indicators and EAs. This method works with all of our MetaTrader 4 EAs and indicators. I'll also get […]

How Long Should I Paper Trade?

This is a question that I got from one of my subscribers, so I'll answer it here. Paper trading is a good exercise for beginners, but you don't want to be stuck doing it for too long…or stop before you're ready. So let's take a […]

Beware of this Telegram Forex Scam

I usually don't like talking about this type of stuff here, because it's generally counterproductive. But this issue affects both you and me, so I'm going to say a few words on it. The bottom line is that there are shady (to put it nicely) […]

How to Use Strategy Tester in MT5 to Backtest EAs

One of the best parts of MetaTrader 5 is that you can program automated trading strategies, called Expert Advisors (EAs), with the MQL5 programming language. Then you can test your strategies in the MT5 Strategy Tester. Many traders use EAs to create fully automated trading […]

Is Forex Recession Proof?

Some people say that Forex is recession proof and others that say it's not. Let's take a look at this important question and find out which side is right. Forex trading is recession proof because traders can select from a wide variety of currency pairs […]

How to Determine Forex Trend Direction

If your trading personality is a good match for trend trading, then this post will show you how to get started. There are several different methods for determining a trend. The most important thing to remember is that you should find the one that works […]

How to Backtest in MT4

The great part about MetaTrader 4 is that you can create automated trading strategies called Expert Advisors (EAs) and backtest them in the built-in Strategy Tester. If a strategy works well after thorough testing, the next step is to start testing it in a demo […]