Magic Lines Forex

Turn Metatrader into a real trading tool

DG — Fri, 27 Nov 2009 11:05:10 +0000

Tired of filling out the dreaded trade dialog, losing valuable seconds while the market is moving away? While you try to enter the right values in the box, everyone else is already making money.

Delay in trading = losing money

New online documentation

DG — Sun, 11 Oct 2009 14:28:52 +0000

There’s a new online documentation site here (new window opens). It includes the most recent changes and features. This online manual will be updated on a regular basis. The PDF manual will be discontinued as soon as the installation chapter is avaialble in the online version.

The new manual includes:

Risk adjustment
Limit orders
A short movie on magic-modify
White charts for easy printing

Matt Sharp’s new forex trading videos

DG — Fri, 02 Oct 2009 08:28:01 +0000

Matt Sharp did a few new video’s on Metatrader 4. I can recommend these because he covers all relevant functions of the software. If you don’t want to go through the written documentation of Metatrader, this is the place to go. The 4th video may be of interest to those who want to see a video on Magic Lines. Check out the last video called “Trading with MT4″ – it all starts at 6:20. First he demonstrates the traditional order entry, then Magic Lines.

Latest update

DG — Wed, 02 Sep 2009 18:12:38 +0000

Latest Magic Lines update now supports

Limit orders (new)
Pending orders
Market orders
Stoploss and takeprofit on immediate execution orders, even if broker doesn’t support it
Automatic lot size purchase based on your desired risk factor (i.e. 1.5%)
Adjustable risk factor
Real time stoploss and profit target modification
Stoploss-only order modify
Trailing stoploss based on significant up or down bars
Automatic determination of trade type depending on line positioning
Installation and operation manual

Professional forex traders use Magic Lines

DG — Thu, 13 Aug 2009 13:15:59 +0000

More and more professional Forex traders use Magic Lines. Matt Sharp, an experienced forex trader and trading instructor, uses Magic Lines on his trading platform and in his Forex courses. Take the opportunity to see Magic Lines power and Matt’s trading experience combined in Matt’s new webinar and find out how you can trade Forex more efficiently and more succesfully. Trading Forex on different charts, particularly the fast one minute chart, has never been easier. See the video and check out the webinar web page to register for the webinar.

Following the trend on Forex while you’re out

DG — Mon, 10 Aug 2009 15:49:41 +0000

Here’s an example of TrackStopShort (sorry for the slow download of the image), my trend tracking code applied to today’s GBPUSD. I entered the trade quite early and closed half of it to lock in some profit. Then I started TrackStopShort and left it to follow the trend as I was talking to a customer for a few hours. When I looked back I saw this. Now it’s time to leave the office, but I’ll let the script run and see how much it made tomorrow.

Update: TrackStopShort exited the trade at 21:06 with a EUR 410 profit, just before the trend bottommed out at 1.6430. If you have bought Magic Lines, you can get the TrackStoploss scripts for free. Just e-mail…

FAQ: “Why can’t I just use a trailing stoploss?”
Answer: You can, but you are likely to be taken out by any retracement or when choosing a large distance stoploss order, by trend reversal…you lose EUR 50-100 at least.

Forex trading during a news release

DG — Fri, 07 Aug 2009 13:56:50 +0000

Here’s part of todays account statement during the newsrelease this afternoon, Friday August 7 (NFP / Non farm payroll).

Using Magic Lines I was able to lock in almost EUR 250 in an hour without any reasonable trading experience. How? Well, download Magic Lines demo and find out for yourself how you can stay ahead of other traders who have to modify stoploss levels manually all the time.

Announcing the MTwitter plugin

DG — Sun, 02 Aug 2009 19:50:49 +0000

Twitter is a popular social network where people follow what other people are doing. I opened a Twitter account recently, and to be honest, the possibilities are endless…if you have the right tools.

I have developed a plugin for Metatrader that transmits my trading activity directly to Twitter so everybody (or a selected group of people) can see what I’m trading. Not a simple alert service, but trading as it happens. Using Magic Lines and the MTwitter plugin I can report order entry, changing stoploss and profit level, the number of pips my position is winning (or losing) and of course when I exit. Whatever information Metatrader has available, I can now send out to an unlimited number of people worldwide.

Now I’m sure nobody cares what I trade, but using the MTwitter plugin a lot of experienced traders can NOW use Twitter as their real time alert/trading or expert advisor service.

If you want to find out what the possibilities are, check out Twitter where I will be testing the MTwitter plugin the next few days.

Magic Lines 3 for Forex released

DG — Fri, 31 Jul 2009 13:50:45 +0000

Release 3 of Magic Lines is there: Adjustable risk, better support for JPY pairs, micro and mini account lot rounding and improved efficiency. The workaround for accounts where brokers do not allow stoploss and takeprofit settings during direct market execution has not made it to the final release. Contact us for a modified version. In most cases you don’t need it though.

Magic Lines now stores all purchases on our website as a backup and upgrade service. Customers have access to a direct link where they can download the newest version.

The new demo version is also available. Please register or login to access the download page.

Online video

DG — Thu, 30 Jul 2009 19:23:21 +0000

Matt Sharp did an online video on Magic Lines. It is now publicly availalbe. Check it out here