MexcelTrader is an application that connects MetaTrader 4 to Excel and allow for the exchange of information and data between the two. You can see the application here www.mexceltrader.co.uk
Trade From Excel – Forex Trading Simplified
Any discussion on forex trade from excel will be incomplete without addressing the fundamentals of online currency trading. So let us first deal with the basics and why one will use a forex excel system before talking about how to use it.
Online Trading 101:
In currency trading, profits are made by predicting which country’s currency will rise or fall in value, relative to other currencies. A good currency trading program or forex system greatly aids investors by providing them with analytical tools that help them make better predictions.
Forex is the world’s most traded commodity, with over $1 trillion changing hands every day. This gives the market liquidity, which, combined with the dynamic nature of the global economy, produces volatility. In turn, the volatility or fluctuation in value is what creates room for profit in this business.
This same volatility, though, also creates risk. After all, it’s not easy to guess which way a volatile market will go. This is where a trading program becomes important – it can be the forex trader’s best friend, saving him thousands and even helping earn more.
A trading program can be something as simple as a piece of software that just connects you to an online market and submits your transactions there. More often, these programs also incorporate various utilities to help the trader maximize profits and, more importantly, reduce losses.
There are two ways in which a program can do this. The first is to provide as much market information as possible so that the user can make informed decisions. This includes live data on prices as well as an index of past prices to study market trends over various timeframes, ranging from a day to several months.
The second is to automate trading, because it is not possible for the user to constantly monitor everything, 24 hours a day, 5 days a week. To prevent losses, for instance, the software may be programmed to sell when a currency value drops below a certain level. Or, to protect profit, it may be programmed to do the same once a certain value is reached.
Why Trade From Excel?
Quite a few programs are available out there, but most of them do not simplify the business of trading. Notice the use of the word “programmed” in the previous paragraph. This is because that is literally what a user has to do – write programming code to tell the software what to do!
Fortunately, there is a way about this. A great tool now allows users to exploit all features of Metatrader 4, one of the most popular trading systems, without facing any hassle of programming. It does so by making all of Metatrader’s functions available in Microsoft Excel.
Its benefit is that one can develop sophisticated strategies just with the simple use of some formulas in Excel. What’s more, one can use all powerful tools of this user-friendly spreadsheet software, to make trading a simpler, more effective experience.
All you need to start trading is to simply set up Metatrader 4. That done, just install .Net framework 3.5 on your PC, and you’re ready to trade from excel!