How to set a trailing stop loss in MT4

A trailing stop loss is a great way for trend traders to manage their positions by protecting an increasing amount of profits.

In the past, traders had to manually shift the stop loss order over time as the market trends in their favour, but these days most trading platforms (including MT4) has the built-in ability to set automatic trailing stop loss orders.


Cowabunga System Week 4 Results

This trading week started with a bang!

Over the weekend the Mayor of London, Boris Johnson, expressed his support for the Brexit camp which unleashed a wave of GBP selling across the board.

Virtually each and every GBP pair opened with a gap and volatility shot through the roof.

Thankfully, the Cowabunga System protects against such situations by having a clear (and small) stop loss, so these kind of events should have little negative impact on the trading account... or so I thought!

This week turned out to be the most exciting week of testing so far, so read on to find out what happened!​


How to add indicators to MT4 using Wine Bottler

As an Mac user, I use Wine Bottler to run my MT4 (MetaTrader 4) platform.

While there are other options to run MT4 on OS X (via Parallels software or VirtualBox), Wine Bottler is by far my favourite option.

However, it’s not immediately clear how to add indicators to MT4 because the file structure in OS X is different from that in Windows.

So I spent some time exploring Wine Bottler, and finally found a way to do that.


Is online Forex trading legal in Malaysia?

The legality of online Forex trading in Malaysia is something many traders are unsure of.

This stems largely from the misinformation found in anonymous posts in trading forums, which are fuelled more by fear rather than fact.

It also does not help that Bank Negara Malaysia (BNM) has not explicitly stated their stance on the matter.

However, if you actually go to the BNM website and read through the relevant sections, the answer is quite clear.


10 Forex Scalping Tips That Will Surprise You

The majority of Forex scalping tips you'll find on the internet are not helpful on a practical level. I know, I know... it's not politically correct to say this.

But you see, although most of those scalping tips are dispensed with good intentions, they are too often vague and not actionable.

What you need is not more philosophical concepts about “how to make money scalping”, but practical tips on how to train your skills to get results. The former focuses on the goal, while the latter focuses on the process.


Is Forex Trading Halal or Haram in Islam?

Is Forex trading halal or haram under Sharia law (Islamic law)?

For our non-muslim friends, haram refers to forbidden behaviours that are considered indecent and sinful in the Islamic faith. Conversely, halal refers to behaviours (and objects) that are acceptable.

From my research, it seems that the answer to this question boils down to two main points.


How Many Forex Trading Days In A Year?

The Forex market is unique in that it is not traded over a central exchange with official opening and closing times.

This means that unlike most other financial markets, there are practically no trading holidays in the Forex market with the exception of New Years day.

There are, of course, various bank holidays in various countries at various times, but during those times the Forex market will remain open to retail traders around the world.


Cowabunga System Week 3 Results

A bearish week on the GBPUSD just ended, as the 4h chart trend remained down all the way into Friday’s market close.

According to the Cowabunga System, shorting this pair was the name of the game this week.

That being said, it wasn’t an easy week to be trading the Cowabunga System as there were quite a few false signals (close calls) due to either the RSI was not confirming an entry signal, or the difference between the two EMA’s being too small to signal a clear entry.