Abstract
Table of Figures
1. Introduction
1.1 Introduction
1.2 Project Description
2. Background
2.1 Different Markets
2.2 History of the Forex Market
2.3 Understanding the Forex Market
3. Methodology
3.1 Background Research
3.2 Fundamental Analysis
3.3 Technical Analysis
3.4 Practical Trading in MT4
3.5 Learning and Writing MQL4 Indicators and Robots
3.6 Money / Risk Management
3.7 Researching the Launch of a Money Management Company
4. Project Execution
4.1 Learning to Trade
4.1.1 Fundamental Analysis
4.1.1.1 The Gartman Letter
4.1.1.2 Important Websites
4.1.1.3 Interest Rates
4.1.1.5 GDP
4.1.1.6 Unemployment
4.1.1.7 Inflation
4.1.2 Technical Indicators
4.1.2.1 Forex Support and Resistance Indicators
4.1.2.1.1 Fibonacci Indicator
4.1.2.1.2 Forex Pivot Point
4.1.2.1.3 Bollinger Bands Indicator
4.1.2.2 Three Popular Indicators
4.1.2.2.1 200 Day Exponential Moving Average
4.1.2.2.2 Stochastic Oscillator
4.1.2.2.3 MACD
4.1.3 Lessons Learned
4.1.4 Psychology of Trading
4.2 Implementing our Trading Plan
4.2.1 Selecting a Platform
4.2.2 Trading Resources
4.2.3 Risk Management
4.3 Trading Summary and Results
4.3.1 Kimberly‘s Trading Summary and Results
4.3.2 Xianjing‘s Trading Summary and Results
4.4 Money / Risk Management
4.4.1 Account Information:
4.4.2 Trading Information:
4.4.3 Trading Time Frame:
4.4.4 Risk Management
4.5 Launching a Money Management Company
4.5.1 Legal Structure
4.5.2 Off-Shore or On-Shore Accounts
4.5.2.1 Advantages for Investment Off-Shore
4.5.2.2 Disadvantages of Off-Shore Investment
4.5.3 Money Management
4.5.3.1 General money management options
4.5.3.2 Money and Risk Management of our Forex Money Management Company
4.5.4 Licensing
4.5.4.1 FSB Licensing - Forex Broker License
4.5.4.4 Series 3 License
4.5.4.5 Series 65 License
4.5.4.4 Series 34 License
4.5.5 Regulations and Organizations
4.5.5.1 Commodities Futures Trading Commission – CFTC
4.5.5.2 National Futures Association – NFA
4.5.5.3 FAIS Act
4.5.5.4 FIA Act
4.5.6 Performance Measurement
4.5.6.1 Alpha
4.5.6.2 Beta
4.5.6.3 R-Squared
4.5.6.4 Standard Deviation
4.5.6.5 Sharpe Ratio
4.5.7 Marketing
4.5.7.1 Build a Website
4.5.7.2 Forex Advertising Agency
4.5.7.3 Reputation and Reviews: Serve the Current Customer Well!
5. Programming Project
5.1 The Automation of the Silver Trend Indicator
5.1.1 Initial Idea
5.1.2 Implementation and Back Testing
5.1.3 First Improvement: Adding Trend Condition
5.1.4 Second Improvement: Adding RSI Condition
5.1.5 Third Improvement: Stop Trading When Losing Consecutively
5.1.5.1 Motivation
5.1.5.2 Hand-Analysis of the Algorithm
5.1.5.3 Implementation of the Algorithm
5.1.6 Final Improvement
5.1.7 Analysis of Silver Trend Indicator Code
5.2 Spread Indicator
5.2.1 How to Use It
5.2.2 Code Analysis and Explanation
6. Conclusions and Recommendations
6.1 Conclusions
6.2 Recommendations for Professor Hakim
6.3 Recommendations for New Traders
Bibliography
Appendixes
Gartman Letter Reviews
Overview of Macroeconomic Issues during the Project
Our Trades
Kimberly‘s Trades
Xianjing‘s Trades
Silver Trend Indicator Code
Spread Indicator Code
Table of Figures
Figure 1. Demonstrating Fibonacci Indicator (September 28, 2011, MT4, EURUSD, M5)
Figure 2. Demonstrating Forex Pivot Point Indicator (September 28, 2011, MT4, EURUSD, H1)
Figure 3. Demonstrating Bollinger Bands Indicator (September 28, 2011, MT4, EURUSD, H1)
Figure 4. EMA Demonstration (September 28, 2011, MT4, EURUSD, H1)
Figure 5. EMA Demonstration: Inaccurate Application (September 28, 2011, MT4, EURUSD, H4)
Figure 6. Stochastic Indicator Demonstration (September 28, 2011, MT4, EURUSD, M1)
Figure 7. MACD Demonstration
Figure 8. Silver Trend Robot Backtest Result
Figure 9. Silver Trend Auto Trading Program Back Test 1
Figure 10. Silver Trend Auto Trading Program Back Test 2
Figure 11. Consecutive Losses in Back Test
Figure 12. Back Test Result With and Without the Consecutive Loss Algorithm
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