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Why should brokers give away free MT4 EAS and indicators to customers?
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10/06/21 10:53
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Brent crude oil, orange juice stabilise while copper advances as US debt ceiling bill gets signed Outlook on Brent crude oil, orange juice and copper as US House of Representatives approves bill to raise debt ceiling. Source: Bloomberg Axel Rudolph FSTA | Senior Financial Analyst, London | Publication date: Thursday 01 June 2023 Brent crude oil prices finds interim support The price of Brent crude oil, having dropped by over 6% over the past two days on possible weaker Chinese demand, a surprise build in US crude inventories and as Russia doesn’t adhere to its OPEC+ agreed output cuts, is stabilising. Better-than-expected Chinese manufacturing PMI from the private Caixin survey led to buying on Thursday and so far has taken the oil price back towards the $73.37 mid-May low which may act as initial resistance. Above it lies further minor resistance at the 17 May $74.02 low and also at the 22 May $74.47 low. On Wednesday Brent crude oil stabilised marginally above its $71.40 early May low, along the March-to-May support line at $72.20 on a daily chart closing basis. Earlier this morning it also acted as support. Only a currently unexpected drop through the $71.51 to $71.40 support zone would lead to the March trough at $70.09 being hit. Source: ProRealTime Copper recovery off its six-month low is gaining traction The price of copper is in the process of breaking through its two-month downtrend line at $8,130 per ton as the US House of Representatives approved a bill to raise the debt ceiling. It will now be sent to the Senate, which is expected to rubber stamp the bill before President Joe Biden can sign it into law ahead of June 5, when the US would be in default. If the copper price were to close on the daily chart above Tuesday’s $8,185 high, the last reaction high, it could extend its recent gains to the 200-day simple moving average (SMA) at $8,373. This technical view will remain valid as long as the last reaction low, that is Wednesday’s low at $8,038, underpins on a daily chart closing basis. Source: ProRealTime Orange juice price flirts with uptrend line Front month orange juice futures have come off last week’s all-time record high at $2.8721 and are likely to retest their one-month uptrend line at $2.7030 as Brazil may increase its supply. If slid through, the 8 May high at $2.5348 would be eyed with further potential support sitting at last week’s $2.6663 to $2.6430 price gap. Resistance remains to be seen around the $2.8038 April high. Source: ProRealTime -
Dow and CAC40 stabilise while Nasdaq 100 edges down The Dow and CAC40 have rallied off their Wednesday lows, while the Nasdaq 100 has moved lower after its fourteen-month high earlier in the week. Source: Bloomberg Chris Beauchamp | Chief Market Analyst, London | Publication date: Thursday 01 June 2023 Dow holds above 200-day MA The index saw a rally off the lows of yesterday’s session, defending the 200-day simple moving average (SMA) once again. However, the overall lower from the highs of May has yet to be disrupted, so further upside would be needed to suggest that a low has been created. A move above 33,230 would help to bolster such a view, and might then open the way to a rebound towards the mid-May high at 33,690. A reversal below the 200-day SMA opens the way to the low seen last week around 32580. Source: ProRealTime Nasdaq 100 edges lower A drop yesterday saw the index add to its decline from the one-year high hit on Tuesday. The upward move is still firmly intact, but it may be overextended in the short-term. Trendline support from late April could come into play closer to 14,000. A deeper retracement might develop with a move below 13,700. A renewed move higher could target the late March 2022 highs at 15,210, but a consolidation after the recent run higher remains a distinct possibility. Source: ProRealTime CAC40 hits trendline support Losses here accelerated to a fresh two-month low yesterday, although it has rallied off the lows of the session. The longer-term uptrend is still intact, though it has taken a knock since the April peak. A recovery above the 100-day SMA would help to reinforce the view that a higher low is in place, and that a move back to 7600 and potentially higher could be in play. The price has stabilised around another potential trendline support level from the December lows. Should this hold then the bullish view could receive additional support. Below this the March low at 6785 comes into view. Source: ProRealTime
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Early Morning Call: British Land to leave FTSE 100, replaced by IMI Property developer British Land lost its position on the index, ending a 21-year run in the FTSE 100. Jeremy Naylor | Analyst, London | Publication date: Thursday 01 June 2023 US debt ceiling The US debt ceiling bill passed its first hurdle last night in the US House of Representatives. A coalition of Democrats and moderate Republicans overcame an opposition led by hardline conservatives. The House voted 314-117 to send the legislation to the Senate. Now the bill has to pass the Senate to be signed into law. China factory activity China's factory activity unexpectedly swung to growth in May, according to the Caixin survey, which covers small and medium-sized enterprises. This was a surprise after the official NBS survey showed yesterday that the manufacturing sector contracted faster than expected. The official NBS PMI survey covers large and state-owned companies. The Caixin/S&P Global manufacturing purchasing managers' index (PMI) rose to 50.9 in May from 49.5 in April, above the 50-point index mark that separates growth from contraction. However, business confidence for the coming 12 months fell to a seven-month low. EU CPI In the eurozone, headline consumer price index (CPI) is expected to fall to 6.3% in May year-on-year (YoY), from 7% in April. Since its October 2022 peak, CPI has almost constantly declined, but remains more than three times above the European Central Bank (ECB) target. Core CPI, which excludes energy, food, alcohol and tobacco prices, is forecast to decline for a second straight month to 5.5%, from 5.6% in April, which suggests that, now that last year's higher energy prices are being phased out, EU consumers face stickier than expected broad-based inflation. In the US, it was also a shorter week, as Americans celebrated Memorial Day on Monday, which means the ADP employment change will exceptionally take place this afternoon at 1.15pm. The markets expect 170,000 job creations in the US private sector, fewer than the 296,000 recorded the previous month. Also, at 3pm the market awaits ISM manufacturing PMI which should marginally fall to 47 in May, from 47.1 in April. This would mean a seventh straight month of contraction for the US manufacturing sector. FTSE reshuffle The quarterly reshuffle of the FTSE indices is upon us again and was confirmed last night. Property developer British Land lost its position on the index, ending a 21-year run in the FTSE 100. Its value has been hit by rising interest rates and the disruption caused by last autumn's mini budget. The swap brings engineering company IMI into the FTSE 100. The reshuffle will take effect from the start of trading on Monday 19 June. Earnings British boot maker Dr. Martens posted a drop in its annual profit. Profit before tax slumped 26% to £159.4 million dented by supply chain issues that ramped up operational costs. Revenue rose 10% to £1 billion. The group proposes a total dividend of 5.84 pence, up 6% on last year. In the US, Broadcom is due to report second quarter (Q2) numbers after the market close. The street anticipates earnings of $10.12 per share on revenue of $8.7Bln. After NVIDIA's earnings report last week and its market capitalisation reaching $1 trillion, investors now look at how every semiconductor maker could benefit from the AI boom. And according to some analysts, Broadcom is underestimated among its peers. Its networking segment is said to present significant opportunities in the AI space. Like other chip makers, Broadcom stock jumped in the past few days, taking it to an all-time high. This is here for you to catch up but if you have any ideas on markets or events you want us to relay to the TV team we’re more than happy to.
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Question
Guest EA-trader
Automation is the future, wall street is also going to shed jobs, in favor of automation.Manual trading is difficult and not easy to master, despite having all the knowledge.this is where automation helps.
https://www.bloomberg.com/graphics/2017-wall-street-robots/
A lot of analysis and reports can be done on mt4 .All these analysis required on the following thread can be done on MT4.
https://community.ig.com/t5/IG-Trading-Support-and/Who-would-like-a-trade-analysis-tool/m-p/25143#M821
A coder can do this job for IG under $500. maybe less than $250.This thread is not to comment on the other thread.
Indicators are analysis tools ,they give traders buy sell analysis information, before entering a trade.There are many mt4 indicators that are far superior to the free indicators, many give pin point accuracy and entry signals.Custom price action indicators ,like raw price action indicators give instant analysis of price action, there are many other custom indicators which can be also useful.These provide useful and accurate analysis.
Expert advisors are also very useful, they keep a lot records of losses,profits and trades history.Expert advisors will automatically trade and place bets on MT4, automated gambling by a software bot. Expert advisors can be profitable ,if created by the traders who know about profitable trading ,unfortunately most expert advisors are created by the blind leading the blind i.e. internet marketeers ,amateurs and learners.Providing expert advisors is definitely the future,for brokers who want to increase long term retainable profitable clients and also increase spread income.
The cost of all these gadgets to traders can be a few thousand pounds, it would be enormously beneficial to traders.Traders would trade more and lose less,if they used expert advisors.
I am showing you my trademanager Expert advisor ,that I use for managing trades on MT4 at IG.This is the trade manager EA only used for managing trades.All I do is place the trade manually, trade manager ea will do the rest.
This trade manager costs $500 to design ,test and code.It can be coded for a $100 dollars privately by a coder.If a broker was to give out a trade manager to many clients, i.e thousands of clients , the cost is only $50 cents per 1,000 clients or 5 cents per 10,000 clients..It will be very useful to many customers, I am sure spread income for the broker would increase.I simply place a trade manually and the trade manager ,manages the entire trade.
There are almost 20 different expert advisors ,these use different systems . they would not cost more than $10,000 for a broker to give away, all these expenses are worth the money, because it will surely increase customers,spread income and long term clients.
How many of you would like free custom indicators, trade manager EA to manage trade and other expert advisors?Should the broker provide these , or should traders have them made at MQL4?I have all these automated tools for fully automated trading, so I do not need these tools from a broker.
[Mod edit - please refrain from posting this link to a market place again]
Edited grammar
trademanager Expert advisor settings below
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