Manual Guide
Unzip the products package, you will see the Auto Trade eunic-brussels.eu4 and Auto Trade eunic-brussels.eu5 files.
Open your MT4/MT5 platform -> Main menu -> Tools -> Options -> Expert Advisors -> Enable “Allow automated trading”, “Allow DLL imports”, “Allow WebRequest for listed URL”, and add URL “eunic-brussels.eu” as following:
Go to MT4 or MT5 data folder by opening MT4/MT5 terminal -> Main menu -> Files -> Open Data Folder.
Copy .ex4 or .ex5 file to directory path: /[data folder]/MQL4(5)/Experts/. Go back to MT4/MT5 terminal -> Main Menu -> View -> Navigator -> Right click on Expert Advisors folder -> Refresh -> Find Auto Trade Driver -> Double click or drag it the the chart that you want to work with.
At startup window -> Common tab -> Enable Allow DLL imports and Allow live trading check box.
Switch to Input tab, enter your registered email address and activation key in order to activate your license.
Commission setting is used for risk management calculator to determine the exact lotsize that match with your risk. Commission is counted to trades profit/lose in order to giving the exact result of the trade.
Commission Type: This is how your broker charges commission. It should be Account currency if commission is charged on account currency unit, or Base currency if commission is charged on base currency of the trading pair.
Commission Per Lot: The amount of currency units that charged as commission for a round turn standard lot. If your broker/account type doesnt charge commission, just leave this value as zero.
This feature calculates required volume that meets your accepted stop loss risk. You choose EP and SL with a specified risk percentage of balance that you accept to lose at that stop loss point (including commission), the tool will auto-calculate required volume. Then, you just need one click on the button BUY, SELL, or PLACE ORDER (with pending order), and order will be sent immediately. If you want to calculate and place order with other pairs, just use this tool with those pairs.
Stoploss Risk: The risk percentage that you accept to lose if stop loss occur.
Est. Loss+Commission: The estimated loss you will incur at stoploss point. This total loss amount includes orders loss and orders commission.
Order Type: Choose the order type that you want to take place.
Order Comment: Note for your order as regular MT4/MT5 orders comment.
Magic Number: Set the magic number to your placed order for further purpose. Magic number is a unique number that you can set to identify your order. If you dont have special purpose, just leave it as blank.
Set SL/TP By: Choose how to set Stoploss/Takeprofit point. It should be Price if you want to set SL/TP by a certain price value, or Distance if you want to set them by a distance from the entry point.
Adjustment Step: Increase/Decrease space of the price adjustment when using Increase/Decrease arrow button
Stoploss/Takeprofit/Distance: Value to determine the Stop loss/Take profit point. Setting Stop loss point is mandatory to calculate appropriate volume (you may remove Stop loss later if you want, but need to enter a value to calculate volume and place order). Leave Take profit as zero means setting an order without take profit.
Order Dragging feature: When you are setting EP/SL/TP on the control panel, you will also see that there are horizontal lines with corresponding level on the chart. You can select those lines and drag them to adjust order EP/SL/TP. Due to those level, order type will be auto selected.
Order protection feature is used to protect your orders at profit or loss state, so that your profit/loss will be always in control. There are 11 methods of protection supported.
Apply to: Choose which kind of orders will be protected, there are some options: All orders, Buy orders, Sell orders, Custom ticket order, Custom magic number order, Account value.
For current pair check box: Check this box if you only want to apply protection on selected orders (by Apply to) for current pair only.
Type: Protection type that will be applied.
Basic: When order make profit at X points, then stop loss will be moved to Y points from entry.
Profit/Loss distance: Set a fixed distance at which selected orders will be closed.
Profit/Loss percent: Set a fixed profit/loss percentage at which selected orders will be closed.
Profit/Loss amount: Set a fixed amount of money at which selected orders will be closed.
Drawdown/Growth %: Set a fixed entire account drawdown/growth percent at which all opening orders will be closed.
Drawdown/Growth $: Set a fixed entire account drawdown/growth amount at which all opening orders will be closed.
Protect status button: Enable/Disable Protection by clicking on this button. Protection takes effect in real-time with its current settings and Protection status immediately. If you want to view other settings without taking effect, just disable Protection before change.
Trailing stop moves your stoploss level as far as the price go for the direction of your order. So, your profit will be maximized as much as possible. There are 5 methods of trailing-stop supported.
Apply to: Choose which kind of orders will be stop trailed, there are some options: All orders, Buy orders, Sell orders, Custom ticket order, Custom magic number order.
For current pair check box: Check this box if you only want to apply trailing on selected orders (by Apply to) for current pair only.
Type: Trailing-stop method that will be applied. There are 5 methods:
Fixed distance: This is like common trailing method that MT4/MT5 provides. But its even better since you can set a distance smaller than Stop/Limit level, that means Stop/Limit level set by broker is ignored now.
Moving Average: Moving average can be used in many ways for trailing stops. MA trailing is a pretty fast to lock profits. Trailing with MA High/Low is also a good idea.
Parabolic SAR: Using PSAR is a safe way to trailing. Its a long runner if you catch a trend.
Zigzag channel: Zigzag channel is made from the boundary of zigzag swing points. Like PSAR, Zigzag channel is a slower but longer trailing.
ATR value: Average True Range (ATR) determine the average volatility of price at the meantime. So, trailing base on its value is favorite choice of many traders.
Aggressive mode: Check this box if you want to trail stops from the orders opening base on price value (original stop loss distance may be reduced step by step). Unchecking this box will make trailing-stop to take effect only when trailing-point makes profit only.
Show trailing mark: Checking this box will show the indicator mark on the chart that reflect the selected trailing method.
Trailing status button: Enable/Disable Trailing by clicking on this button. Trailing takes effect in real-time with its current settings and Trailing status immediately. If you want to view other settings without taking effect, just disable Trailing before change.
With this feature, you can setup a partial close scenario for your order. Your order will be closed a part of its volume at maximum 3 levels of profit.
Apply to: Choose which kind of orders will be partially closed, there are some options: All orders, Buy orders, Sell orders, Custom ticket order, Custom magic number order.
For current pair check box: Check this box if you only want to apply partial close on selected orders (by Apply to) for current pair only.
1st Close: Choose X percent of orders volume to be closed for the first time whenever the order makes profit of A points from EP.
2nd Close: Choose Y percent of orders volume to be closed for the second time whenever the order continues to make profit of B points from EP.
3rd Close: The rest volume of order will be closed whenever it continues to make profit of C points from EP.
Partial close status button: Enable/Disable Partial close by clicking on this button. Partial close takes effect in real-time with its current settings and Partial close status immediately.
Shortcut allows making multi-orders processing at once. If you have many existing orders that need to be processed like closing, deleting, stoploss removing; then this shortcut feature will save your time and effort to do that.
For current pair check box: Check this box if you only want to apply the shortcut command for the current pair only.
Close: This shortcut is used to perform close command on selected opening orders: All orders, Buy orders, Sell orders, Winning orders (Profit+Commission>0), Losing orders (Profit+Commission<0).
Delete: This shortcut is used to perform delete command on selected pending orders: All (pending) orders, All Buy Stop, All Sell Stop, All Buy Limit, All Sell Limit.
Remove Stoploss: This shortcut is used to remove stop loss from selected orders: All orders, Buy orders, Sell orders, Winning orders, Losing orders, Pending orders.
To more fully understand how the value of foreign currency investments is measured, it is important to have a clear picture of what an exchange rate is, and how it functions.
An exchange rate is the price at which one country’s currency may be exchanged for another.
For example:
If you have ever traveled outside of your home country, let’s say from the U.S. to Switzerland, you likely had to go to a currency exchange to convert your U.S. dollars to Swiss francs.
Let’s say you hand the exchange U.S. dollars, and not taking into account any service fees or other charges, you receive worth of Swiss francs in return. As spending in Switzerland can be somewhat costly, you quickly run out of francs and go back to the exchange the next day with another U.S. dollars that you want to turn into local currency. This time, however, you’re given worth of Swiss francs in return.
If you’ve never exchanged currencies before, you may ask the operator of the exchange why you got less than the day before. You think there may be some mistake.
The operator will then likely explain to you that, no, there was no error. In fact, most advanced nations have a floating exchange rate, or spot rate, meaning the value of their currencies aren’t fixed, but rather fluctuate relative to other currencies.
Remember, as an investor of foreign exchange, what you surrender is one nation’s currency for another – and you do so at an agreed upon exchange rate based on the activity of many buyers and sellers of currencies, and established in the interbank market.
FX Rate Drivers
So, what are some of the factors that influence the supply and demand dynamics for a certain country’s currency and that hold sway over its spot rate?
There can be several – including:
Monetary and Fiscal Policies
Also, while central banks are typically independent, government policy often sets out goals for employment and growth. And while the central bank often has a mandate to set interest rates with an inflation objective in mind, they have no control over those political objectives that aim to drive growth or impact trade flows.
As an investor analyzing the currency market, you would likely want to examine, among other factors, that country’s fiscal and monetary policies.
By doing so, you may find you have greater conviction in some governments more than others, and that certain central banks have a better reputation than others.
Often, one currency unit’s health is controlled by investors’ beliefs in the bias of its central bank and often by the belief that the central bank will follow through on its words with action.
Many in the market, for example, may focus on the monetary policies of the U.S Federal Reserve and the effectiveness of its dual mandate to promote maximum employment and price stability – this with an eye on the inverse relationship between a foreign currency and the U.S. dollar, where a strong dollar signals weakness in the foreign currency unit, and a weak dollar indicates foreign currency strength.
Others may look to the euro, a product of several individual European nations, which formerly held their own currencies. The euro, a single-currency system, was primarily adopted to help reduce currency risk among those participating nations, as well as to facilitate the movement of capital, goods and services between them.
As an investor of foreign currencies and the euro, you may want to look closely at the Eurosystem, which is comprised of several national central banks and the European Central Bank, or ECB – which was created in large part to implement monetary policy and conduct foreign exchange operations.
Overall, however, trading in the forex market is an inexact science and can often produce significant intraday price shifts, as there is no proven formula to determine the strengthening or weakening of an exchange rate relative to any other unit.
The analysis in this material is provided for information only and is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad-based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation by IBKR to buy, sell or hold such investments. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.
The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Interactive Brokers, its affiliates, or its employees.
There is a substantial risk of loss in foreign exchange trading. The settlement date of foreign exchange trades can vary due to time zone differences and bank holidays. When trading across foreign exchange markets, this may necessitate borrowing funds to settle foreign exchange trades. The interest rate on borrowed funds must be considered when computing the cost of trades across multiple markets.
Forex traders have many choices for forex news calendars, you can find quite a few of them with web searches. Here are a couple of news calendars that should serve your needs. This is a link to one world economic news calendar on our website. It shows the scheduled time of the the volatile news items or high impact items annotated with three icons, and they are highlighted in yellow. These news drivers are specified to notify forex traders of exact times when volatility and price movement may occur. You can check the weekly or daily view on the calendar in advance to help to plan your trading week. We reference these volatile economic news items on the calendars in our trading plans.
Notice that the CHF, EUR, JPY, GBP and EUR are many of the currencies we trade. All of the other less volatile news drivers also appear on the economic calendar coded in other colors or some other way. The economic calendar can also be adjusted to match your time zone and computer clock to synchronize. This forex news calendar is an excellent tool to supplement your forex trading and the trade planning process.
Another source of forex news we like is the news calendar on the DailyFx website. This particular news calendar has a different look. On this calendar the volatile news items or high impact items are annotated with a red icon "High". You can see three example high impact news drivers for the Japanese Yen and US Dollar annotated in red. Traders can plan to be in front of the computer when by looking at the calendar and planning ahead.
On most economic calendars you click on the "weekly view" and the calendar will default to showing all of the economic news for the entire week. This allows you to check the calendar on Sunday or Sunday night and see what volatile items are coming for the week. This takes 10 minutes and is great for traders who also have full time jobs, and need to manage their time.
In the main forex trading session, the news drivers that occur are primarily the EUR, GBP, CHF, USD and CAD. In the Asian trading session, news drivers are mostly from the the NZD and AUD regions. JPY news drivers generally occur late in the Asian session and beginning of the main session. These are general rules that cover % of news drivers. Our trading system is primarily designed for trading in the main session. A few times per month, Asian session news drivers can drive strong price movement. Check the news calendar for the time of news drivers on the AUD and NZD pairs in the Asian session. Since there is less liquidity during the Asian session we suggest only trading a few times per month with trends that are early in the cycle on the larger time frames like the H4, D1 and W1. Check this lesson for a complete guide to the forex trading sessions and the best times to trade in both trading sessions.
If you choose to trade forex news drivers with no other guidance, we believe that would be a big mistake, and basically you would be gambling. Also it is not necessary to do this. When you trade forex news you should always know the condition of the overall market, and the currencies you are trading. You should know the direction of the trend, have a great set of alerts and indicators, and have a clear possibility of movement based on support and resistance. Trading in the direction if the major trends or near the beginning of a trend cycle is also a great addition to trading with the news. We make all of this information available to traders with our trading system.
Always perform a rigorous analysis of 28 currency pairs across multiple time frames and set your trading plans, the forex news check is a final check to see if volatile news drivers could potentially drive a pair in the direction of the trend. In the example below there was a British Pound GBP news driver on the forex news calendar. After the news, traders could easily see what direction to trade based on consistent GBP strength, fully verified with parallel and inverse pair groupings using The Forex Heatmap® forex heatmap. This is a strong movement on the GBP/USD of over pips after the GBP news. Strong results for the entire GBP group of pairs. Having a tool like this along with the news can turn news trading into a profitable venture. NZD news drivers occur throughout the month in the Asian trading session, week after week.
On the first Friday of each month is the regularly scheduled non-farm payrolls employment news from the USA. On these days we suggest trading after the news driver because most of the market stalls ahead of this news driver. In the event you see a solid set of trading signals develop a couple of hours ahead of this news driver, and you decide to enter a trade, just make sure you set your stops to break even ahead of the NFP news driver. An example non farm payrolls news driver is shown on the calendar below.
We have seen some traders and websites suggest that trading the NFP news driver is too risky. We disagree, if the charts and signals are good we advise looking to enter trades after the NFP news driver. We have developed a guide to trading non farm payrolls. Also once per month the FOMC meeting minutes news driver is scheduled on the USD news calendar, and it is also possible to enter trades after this news driver, if the market is consolidating ahead of the news.
On the news calendar next to each scheduled news item is the predicted or projected outcome of the news. For example on the ECB minimum bid rate news driver, if the rate is expected to hold steady but the number comes in higher than expected the EUR could strengthen sharply across all pairs and this EUR strength would be picked up by The Forex Heatmap®. In this case you may be able to trade after this news. So the projected numbers might be wrong but if you use all of the trading tools available to you in our trading system you can still pocket pips after the news. In this case knowing the time of the news is more important than the projected outcome, because many times the results are unknown.
The main topic of this article is how to use scheduled forex news drivers to benefit forex traders. But sometimes the currency market starts to move unexpectedly for an unknown reason. This could be due to unexpected forex trading news of some kind, not on the calendar. It could also be some political event, pandemic, or Brexit related, may possible reasons. If the market is moving and there is no scheduled news, look for breaking or unexpected news on any real time forex news website. Unexpected movements in the forex market will always be detected by The Forex Heatmap®, along with our suite of professional forex alert systems, like our mobile app, as well as the audible price alerts we set every day to monitor for price breakouts. If traders leverage our trading plans and all of our alert systems, you can detect when the market is moving for almost any reason, including unexpected news events.
Live streaming or real time forex news websites are also available, also some real time forex news apps. Following all the live forex news events on a real time basis would be a 24 hour/5 day per week job, we do not recommend this at all. You can catch the majority of the movements across 8 currencies and 28 pairs by setting audible price alerts and watching the world currency news just after the major scheduled news drivers on the calendar.
Conclusions About Forex News: Incorporating forex news into your trading program is a wise move. We suggest using other parts of a great trading system with the news, like knowing the condition of the market, the direction of the major trends, thorough market analysis, support and resistance levels, along with professional alert systems and signals. With all of these components of a great trading system in place, forex news is welcome as part of the system. Never trade forex news on a stand alone basis, as this is much too risky. Scheduled forex news combined with all of our other alert systems will help you to spend a lot less time in front of the computer but you can still monitor the movement cycles of the spot market across 8 currencies and 28 different pairs.
Hi, @DKW
I assumed what you meant by 'the microsft generic driver that works OK,' was that Microsoft installed an 'inbox' driver for the FX graphics adapter.
If you are seeing a Microsoft Basic Display Adapter in the device manager instead of the FX, you can download the W8 driver from the link below.
Quadro/Tesla Desktop Driver Release
The FX Driver is exactly the same pedal than our Ego Driver but with a different name for the US market.
The product is then labelled FX Driver and not Ego Driver.
We all know the Tube Screamer, weve all had one in our lives!
We have always been told that it is the best tool to boost an amp already crunched.
The gain at 0, then the volume at full!
We break through the mix, we are in the spotlight and we avoid passing on the spectrum of the other instruments.
There are of course other combinations and sounds to exploit from this more than mythical schematic,
and thats what were going to study!
Over the past few years, our team has analyzed more than a hundred schematics inspired by the OD
Thanks to this knowledge database, we have created a new pedal, the FX Driver.
It is able to reproduce all these vintage sounds, and go further by creating new ones!
To achieve this it is quite simple, we focus on the saturation stage and unveil all the keys to its design.
In addition, with the FX Driver and the FX Teacher project, you will be able to create your own Tube Screamer,
customize it and understand how to better adjust it to optimize your tone!
Everything you need to make your FX Driver from A to Z! In other words:
1 Ego Driver enclosure with FX Teacher design and all holes already drilled.
1 kit with all the necessary components.
1 PCB FX Driver.
1 true bypass kit with 3PDT.
3 transparent knobs.
1 bag of bonus components to better customize it.
1 tester for the FX Teacher method.
Soldering tools, here is our selection if you dont have enough.
To discover in detail the FX Driver, click here.
To order it, its right here. Just add the product to the cart,
then follow the instruction manual here.
For the FX Driver already mounted, click here.
Weight | 0,5 kg |
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Dimensions | 16 × 12 × 8 cm |
Forex traders can choose from a variety of currencies and it’s very easy to get lost as a new Forex trader. In this article, we take a close look at the 6 Forex major pairs, what you need to know about Forex rates movements and how to trade the Forex majors.
The table below shows the 6 Forex major pairs, ranked by daily average price movements. We’ll take a closer look at each Forex major and then provide some practical tips on how to trade the Forex majors later on.
In currency trading, traders use pips (points in percentage) to measure distances in Forex rates. The information we get from pips can also be used to analyze risk and size positions. If your trading account is denominated in USD, the table below shows the value of 1 pip depending on the lot size of your trades.
Those values change slightly based on the actual exchange rates, but the fluctuations are very minor.
Especially when you are a new Forex trader, it’s advisable to stick to those 6 currency majors. The Forex majors are usually more liquid and also have a smaller bid/ask spread which make them attractive for Forex traders. Furthermore, the price movements are often more reliable and volatility can be lower – of course, this comes with exceptions and volatility can spike at times.
The EUR/USD is the most popular Forex pair; the Euro area and the US are the two largest economies worldwide and, thus, the EUR/USD attracts a variety of investors and traders alike.
Another interesting characteristic of the EUR/USD pair is that the overlap between the European and US trading session (for more on this topic see below) is the most active Forex trading session and volatility and momentum are often very high during those times. This makes trading the EUR/USD very attractive since wider swings often equate into more trading opportunities.
The US-Dollar has also a unique role in the Forex markets because it’s the world’s reserve currency and it’s used to settle most international transactions; hence, the US-Dollar is the world’s most traded currency. Furthermore, commodities are usually priced in US-Dollars which also influences the status of the US-Dollar.
Exchange-traded futures, by currency
The USD/JPY has an interesting role in the Forex markets because the Yen is seen as a so-called ‘safe haven’ investment. This means that in times of uncertainty and market turmoil, investors shift from trading riskier assets such as single stocks to trading the Yen and other ‘less risky’ instruments.
However, those safe-haven flows have led to a major price increase in the Yen and since the Japanese economy depends on a cheap Yen to boost their exports, the Bank of Japan has stepped in repeatedly, trying to bring down the Yen. This lead to huge volatility in the Forex rates and it’s something Yen traders need to be aware of.
The GBP/USD is the biggest mover among the Forex majors with the highest largest daily pip range which attracts many traders. The GBP/USD is a very popular Forex pair among traders, although its sudden and wild price movements can easily catch you on the wrong foot. Proper risk control and a stable mindset are very important when trading the GBP/USD.
With the recent uncertainty in the Euro area and the talk about the Brexit, the GBP/USD has become even more volatile and unpredictable. The GBP/USD has a very high correlation to the USD-Index and it correlates very little to other markets. It’s also considered more of a technical pair, responding nicely to technical analysis.
Fun fact: The nickname of the GBP/USD is “Cable” because the Forex rates for this currency pair were wired between the UK and US via underwater cable back in the days.
The CHF is the second safe haven currency because the Swiss economy and the Swiss currency is considered relatively stable. Similarly to the Japanese Yen, the Swiss Franc also rises during times of uncertainty. However, the Swiss National Bank is also trying to keep the currency rate low and has intervened in the currency markets frequently which has led to major volatility and price spikes.
The high negative correlation between the USD/CHF and the price of Gold is important to pay attention to as a Forex trader. The correlation exists mainly because both Gold and the Swiss Franc are considered safe haven assets and rise together in times of market turmoil.
The Australian Dollar (AUD) and the Canadian Dollar (CAD) are two so-called commodity currencies and are highly correlated to commodity prices.
Australia is a major Gold producer and Gold exporter and the Australian economy depends on the price of Gold. Thus, the AUD/USD and Gold have a very high correlation and Forex traders active in the AUD/USD should always keep an eye on the price of Gold because technical signals often happen simultaneously.
Canada is a major oil producer and Oil exporter. Thus, the Canadian economy is affected by fluctuating oil prices and the Canadian Dollar (CAD) is closely linked to the price of oil. If you trade the USD/CAD currency pair, it’s important to keep track of the price of crude oil as well since currency moves and oil price movements often happen together. The chart below shows that the correlation at the bottom is usually close to -1 which is an extreme.
If you are a Forex trader trading USD related pairs, I highly recommend keeping an eye on the USD-Index. The USD-Index usually sets the tone for a lot of currency moves and it can help your price analysis and your trade timing to be aware of developments on the USD-Index.
The screenshot below shows a recent example where the USD-Index on the left showed a false breakout and a bounce off support – simultaneously, the USD/CAD showed a textbook long entry at the exact same time.
Although the Forex market is open 24 hours a day from the time the Sidney stock exchange opens Monday morning until Friday night when New York closes, it’s still important to keep track of individual trading session as they impact Forex rates and volatility significantly.
The table below shows how global trading sessions spread throughout a regular hour cycle. First, it’s important to understand that currencies move most when their local market is open: the Australian Dollar moves most when Sidney is open, the Euro is most active during the European (Frankfurt and London) trading session, and so on. Generally, the most active trading session is where New York and London overlap.
This unique characteristic in the Forex market impacts trading decisions on multiple levels:
1) Market selection
If you are a day trader, you should choose Forex pairs that are most active during the times when you sit in front of your charts. Choosing pairs that are not active during your trading can easily suck you in low volatility and boring price moves.
2) Active trading decisions, entries and exits
When you are in a trade, make sure to analyze price in context to the current trading session and then make your decisions accordingly. For example, if you are in an EUR/USD trade, but price isn’t going anywhere during the Asian trading sessions, it does not have to mean that your trade idea is invalid – it’s more likely that your market is just not active as European and US traders are not there to move the market.
3) Breakouts during active session
This ties in with the previous point. A breakout that occurs during a pair’s actual trading session is much more likely to succeed. This also holds true for the creation of new trends. A breakout and sudden high momentum move in the EUR/CAD that happens during the US session is usually more meaningful as more traders and investors are behind the move.
The screenshot below shows the rhythm of the currency markets and how Forex rates are influenced by local trading sessions. The price chart shows the AUD/USD and at the bottom you see the ATR (momentum) and a volatility indicator. It’s obvious how the indicators peak during the US and Australian trading sessions.
Financial markets are interwoven and highly interconnected. The Forex market in particular and the fact that Forex rates are quoted and traded in pairs make correlations a very important topic in trading. The table shows the correlation between the individual Forex majors.
Quick correlation recap: A positive correlation between two Forex pairs means that the pairs move into the same direction; a negative correlation means that prices move into opposite directions. The maximum correlation numbers are +1 and The higher the number, the more similar the currency pairs move.
1) Risk
It’s essential to understand that when you enter a trade on two currency pairs with a high positive correlation, you are increasing your risk as both pairs are moving very similarly. So you have a high likelihood of either having 2 winners or 2 losses at the same time.
2) Pair selection
When you have a potential setup on two positively correlated pairs, you have two options: first, you can enter a trade on both pairs but reduce your individual position size to avoid excessive risk taking. Or second, you can choose between the two pairs and pick the one with the better-looking setup.
Forex trading can be quite complex, especially for new traders. If you want to get a head start, you should focus on the 6 Forex majors first, get a good feeling for how they move and what influences forex rates movements and then slowly develop expertise for those markets.
Driver EURUSD EA opens deals based on three indicators MA, Envelopes, and Driver(included) under specific conditions. If the price does not go towards TP, additional trades are opened to block the unprofitable one after certain limits are reached. When a particular target of profit in money is reached, all orders are closed.
Developers claim this EA to have around 50% drawdown, and its relatively accurate. This EA mainly optimized for EURUSD on the M5 timeframe. Driver EURUSD EA doesnt have many complicated settings for you to optimize.
Find the Perfect Broker For You Here
In general, if you want to tinker with settings these three parameters are only available.
Free Download
Estimated reading time: 6 minutes
In late September the pound fell spectacularly from above $ to a new record low of $ versus the US dollar.
It’s true that the dollar had been appreciating for many months, and the pound was one of the most undervalued currencies of the year, but this was news making headlines and front pages around the world, and it was exclusively a domestic problem.
The then Chancellor, Kwasi Kwarteng, had announced a series of expansionary fiscal policies under the moniker of going for growth, but the lack of budget scrutiny and contrast to the Bank of England’s monetary tightening caused markets to lose confidence and thus, the pound plunged.
In the days to follow, the Bank of England announced that it “will not hesitate” to raise rates to control inflation, and it was forced to intervene in bond markets to prevent a collapse in prices and of pension funds struggling to meet margin calls.
All of this is well documented, and it was one of the few times that financial markets were the main talking point.
Of course, the story didn’t end there as Kwarteng was replaced by Jeremy Hunt, who swiftly ushered in dramatic U-turns to the government’s plans with the aim of calming financial markets.
Elsewhere, UK Google searches for ‘gilt’ hit an all-time high whilst searches for ‘pound’ spiked to the second highest ever, just behind after the EU referendum collapse in the pound.
Many theories circled the industry on the pound, the cause of its collapse, and its subsequent rebound. In this article, we’ll look at what drives currency exchange rates, because it’s a complex matter and isn’t always obvious or clear.
The foreign exchange (FX) market is the world’s largest and most liquid market. The Bank of International Settlements (BIS) produces a triennial survey on the FX market: the most recent, , showed a daily trading volume of $ trillion – and it’s growing.
The FX market exists to facilitate currency conversion, which could be required for international trade, remittances, or to pay for the annual summer holiday.
There are many participants in the market, including banks, dealers and brokers, commercial companies, central banks, speculators, hedge funds, investment firms, and money remittance firms.
The rise in retail FX trading has added a new participant––the individual investor/trader, often trading via platform brokers that provide liquidity to this space. The market is vast, and it’s packed full of players, often with conflicting motivations.
There are many reasons why a currency will rise or fall over time, but short-term changes in FX prices are mostly in response to speculative or opportunistic trading activity, triggered by developments in the economy or other financial markets.
Let’s consider some of the key underlying factors that will naturally influence the demand for a currency over the medium to long term:
Of course, the items listed above don’t happen overnight, but market sentiment and investor confidence can swing and shift in a moment, triggering a rapid change in exchange rates.
An economic data release, such as an inflation report, gross domestic product (GDP) growth figures, or a central bank interest rate decision, can cause a currency to gain or lose value quickly as it builds a picture of future economic performance and therefore the currency’s value.
Sometimes there are obvious triggers for an exchange rate moving, but accurately ascribing a price change to one individual event or factor can be difficult or impossible, especially because the FX market is influenced by a nearly endless number of factors and actors.
The random walk theory suggests that financial asset prices cannot be predicted, that prices move randomly, and that technical analysis is undependable. Whilst I agree that FX prices certainly exhibit elements of fluctuation at times, there’s something to be said for herd behaviour.
The efficient market hypothesis suggests that prices always trade at fair value and that outperformance is impossible.
The idea is that financial prices demonstrate all available information and expectations, and there’s a logic to it that helps make sense of price changes in response to incoming data, broader market sentiment, or activity in interconnected markets.
Consider the immediate 10% drop in the pound following the EU referendum: this price change was in anticipation of what was to come in terms of political instability, UK-EU trading disruption, and the likely reduction in output, spending, and employment.
If in doubt, just know prices moved because there are more buyers than sellers (or vice versa).
There are numerous influences that drive FX prices in the long term, and in the short term, currencies move in real-time with events, data releases, and market sentiment.
These price movements can build toward a long-term picture of the currency’s value or be erased by long-term trends. The trick is knowing that, just because we can look backwards and attribute factors for a currency’s price change, it is almost impossible to look forward and predict where it will head next.
To accurately predict a currency price, you need to factor in so much more than meets the eye: that’s why FX forecasts are famously unreliable.
A common way to think about interest rates is how much it's going to cost to borrow money. Whether we are a borrower with a mortgage or a lender earning interest on bond and money market investments, interest rates are important. Interest rate policy is a key driver of currency prices and typically a strategy for new currency traders.
Fundamentally, if interest rates are higher in one country than in its neighbors, its currency prices will often strengthen because the higher interest rates attract more foreign investors.
For example:
Historically, gold is a "safe haven", a country-neutral investment and an alternative to the world's other reserve currency, the U.S. dollar. That means gold prices tend to have an inverse relationship to the USD, offering several ways for currency traders to take advantage of that relationship.
For example, if gold breaks an important price level, you'd expect gold to move higher. With this in mind, you might sell dollars and buy Euros, for example, as a proxy for higher gold prices.
Australia is the world's third largest exporter of gold, and Canada is the third largest producer worldwide. These two major currencies tend to strengthen as gold prices rise. You might consider going long these currencies when gold is increasing in value, or trade your GBP or JPY for these currencies when gold is on the rise.
Just as airlines and other oil-dependent industries are hurt by rising oil prices, so are the currencies of oil-dependent countries like the U.S. or Japan, both of which are massively dependent on foreign oil.
If you believe oil prices will continue to rise, you can consider buying commodity-based economies like Australia or Canada or selling oil-dependent currencies.
Next:Economic Indicators
Several factors like inflation, economic reports, political stability and more can affect the forex markets. Any positive or negative economic event leads to the currency pair prices fluctuating to a great degree, providing traders with the opportunity to profit from the volatility.
In this article, we learn about the top factors that affect the forex market.
Balance of trade refers to the difference in the value between the exports and imports of a particular country. Exports are how many products and services the country is selling to the world, and imports are how many products and services it is buying from the world.
The higher the Balance of trade (meaning exports are more than imports), the stronger that particular currencys value globally. This leads to an appreciation in the price of that currency in the foreign exchange market and signals traders to buy more of the appreciated currency.
When the value of imports is higher than exports and the balance of trade for the nation is low, it depreciates the currency in the forex market and signals traders to shift to some other currency.
When a country is politically stable, its currency prices in the forex market are also stable. Whereas political instability, unrest and negative shocks lead to high volatility in the currency’s prices.
Traders keep a close eye on the political events and news to see if any possible changes could affect the forex market. The changes can include new reforms, a change in the governing body, new regulations, amendments, industry rules, etc. All pro-growth political changes appreciate the country’s currency in the forex market, and all anti-growth changes lead to a currency price depreciation.
A central bank interest rate is the rate at which a country’s central bank lends to or borrows from the country’s domestic banks. When a central bank decides to increase its interest rates, it means that the economy is flourishing and the money supply is increasing. This leads to a currency appreciation, signalling traders to buy more of the currency.
On the other hand, when the central bank cuts interest rates, it indicates that the economy is facing hard times and the money supply is contracted, leading to a currency depreciation that signals traders to sell the currency pair.
A nation’s economic report analyses the economic development in the country, prospects, and overall economic growth. It talks about each and every economic aspect like employment, monetary policy decisions, payroll report and more that is significant for a country’s betterment.
Whenever these reports portray a positive economic outlook for the country, its currency appreciates in the market and signals trades to enter the market. However, when the economic reports are not so positive and depict an economic turmoil, it depreciates the currency and signals traders to exit the market.
Inflation refers to an increase in the prices of goods and services in the economy that decreases the purchasing power of its people. When inflation in a particular economy increases, it devalues the currency in the forex market, which results in a fall in the prices. As the currency weakens against other currencies in the market, it signals traders to sell it.
On the other hand, when inflation in a country is under control, it indicates that the currency’s buying power in the market is still solid. This leads to an appreciation in the currency prices that signals traders to buy more of it.
Government or public debt is the amount that the central government of a country owes to its lenders. The outstanding debt can be in the form of bonds, loans, ROI, other securities and more.
When a country is not able to repay its government debt and keeps on adding onto the same, it affects the forex market negatively. The value of the country’s currency depreciates as lenders lose faith in the nations governing body. This leads to more and more traders exiting their trades from that particular currency.
On the other hand, when a nation’s government debt is under control, it leads to a currency appreciation as lenders have faith in the country, its governing body and its currency. This leads to more and more traders entering trades with respect to that particular currency.
Employment rate refers to the number of people employed in a country who are of the working age, able and willing to work. The higher the employment rate in a country, the stronger is the country’s GDP and overall global performance. This leads to an appreciation in the currency value and provides traders with long opportunities.
On the contrary, when the employment rate in a country is low, it indicates a weak economy, low GDP and overall global performance. This leads to the depreciation in the currency value and provides traders with an opportunity to sell off the currency.
The capital market, also known as the stock market, comprises various small, mid and large-cap companies that raise capital by selling the company’s shares, bonds and other investment securities.
Whenever a country’s stock market performs positively, it indicates that the overall economy is rising and increases the investors’ confidence in the economy. This leads to a price appreciation in the country’s currency in the forex market as foreign investors increase the demand for the domestic currency.
On the other hand, when a country’s stock market crashes, it indicates that the overall economy is not performing well and decreases an investor’s confidence in the economy. This leads to price depreciation in the country’s currency in the forex market as foreign investors decrease the demand for the domestic currency.
Watch out for the factors affecting the forex market as they leave a significant impact on the currency exchange rates regularly.
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Ben Clay is a skilled and experienced CFD trading professional and writer with 14 years of experience in the industry. As a part of the Blueberry Markets team, Ben is known for his ability to simplify complex concepts into insightful and engaging content. His profound understanding of CFD trading, coupled with his exceptional communication skills, has established him as a trusted contributor who delivers insightful information to a wide audience.
Expertise: Forex and CFD trading
To install the driver, first download and install the free 7-zip file utility.
The 1st file at the top of the page is for 64 bit.
7-Zip
After you installed 7-zip, right click on the Nvidia graphics driver you downloaded and select 7-Zip from the list of items on the menu.
Have 7-Zip Extract to: and let it extract the file into its folder name.
After that is done, go to the device manager.
Click to expand the Display Adapters device manager category.
Click on the Microsoft Basic Display Adapter listed there.
Click on the driver tab. Click on Update driver.
Select the 'Browse my computer for drivers' option and browse to the driver folder that 7-Zip created.
Make sure that the Include subfolders box is checked and the driver should install.
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