MetaTrader refers to a group of software applications that help brokers and traders to trade currency. They also use MetaTrader programs to trade CFD contracts and other markets such as spot gold and silver (bullion). MetaTrader is developed by ‘MetaQuotes Software’ a Russian company. You as a trader may use one of the following MetaTrader platforms to trade.

MetaTrader Client Terminal: You need to install it on your computer and then use it to view and analyze the market. You can also use it to enter trades. In order to be able to trade, you need to open a demo or live account with a broker. The client terminal is a freeware for end users. This platform supports automated trading.

MetaTrader Mobile and Smartphone: Unlike the Client Terminal these are not free. You use these versions of MetaTrader to trade through your PDA or cell phone.

MetaTrader MultiTerminal: The MultiTerminal enables you to trade on more than one account at the same time. This version of MetaTrader is more useful for money managers and who want to trade on more than one trading account with the same platform. The MultiTerminal currently does not support automated trading.

The one platform that the majority of users are interested in is the ‘MetaTrader Client Terminal’. I call it MetaTrader or MT4 from now on.

As mentioned in the preceding paragraphs MetaTrader 4 or MT4 is a freeware. You can download it from MetaQuotes website. In order to be able to trade with MT4 you need to open an account with a broker. You may also obtain a free copy of MetaTrader from your broker when you open a live or demo account with them. You can nowadays open a demo account at no charge with almost all of those brokers that support MT4 as their trading platform.

Why MetaTrader?

There are a few reasons that many brokers and also traders use MT4 as their trading platform. Here are some of those reasons.

MT4 is a charting and trading tool at the same time. You can see charts, analyze the market and then place orders with the same platform. There is no need to get a charting tool from another company. The charting tools are free so you can see the charts and analyze the market at no extra charge.

MT4 comes with communication tools. For example the broker can post market analysis, news, and other types of messages through MT4. This feature eliminates or reduces the need to communicate via email or phone messages.
MT4 supports automated trading. You can obtain tools to automate your trades or generate trading signals.
MT4 comes with a programming language and a platform to develop programs with that language. You can develop your own tools to trade automatically, or analyze the market. The MT4 programming language is called MQL or MetaQuotes Language. It is similar to ‘C’ but equipped with several functions that enable you to easily automate your analysis and/or trades.

There may be a lot of other reasons that you use MT4 as your trading tool.

There are a vast number of people who are looking for a good genuine forex expert advisor (trading robot).
In my knowledge, nothing has made a more profound innovation for an individual trader who likes trading from home, more than Meta Trader Expert Advisors.

MetaTrader expert advisors are automated programs that will place trades on a traders’ behalf using a complex preset algorithm and trading strategies.

The market is being flooded with these programs with different trading systems applied to them from the different originators.
Some boast of good results, but do read of their disclaimers should anyone lose while using their forex trading software program.

Having a good expert advisor for trading is a help you might not want to pass up. They’re designed to simplify the whole trading experience and make it easier for you to make money trading but like all trading there are losing trades as well.

It can actually put your trading on ‘autopilot’ and make trades while you’re in bed asleep.
Please remember During Technological crisis, orders may not be filled as placed. Trading on a particular electronic trading system may differ from trading on other electronic trading systems, or other market systems. If you undertake transactions on an electronic trading system, you will be exposed to risk associated with the system, including the failure of hardware and software. The result of any system failure may be that your order is either not executed according to your instructions or is not executed at all.

In the last several years, with more advanced computers that are available nowadays, MetaTrader Expert Advisor (known as Forex EA) programs have given the ordinary person more capability to trade Forex like a professional.

However there’s the problem…

See, trading is not simple. We believe you need to learn the basics of forex trading and then you need to have knowledge how to perform your forex trading strategies without miscalculations and, sometimes without emotion. We believe that’s difficult to do for the majority of people. Emotional trading is riddled with mistakes following with frustration and loss of money.

Trading as a human means we’re subject to human shortcomings. Like the inability to watch 12 indicators at once. Or monitor fibs, pivots, or support and resistance levels and then make a decision to trade, all within about half a second.

Having an automated forex trading strategy executed by an Expert Advisor program is the solution for this. An EA is basically a robot program with a trading strategy. It does not deviate from the written strategy (like people do).
It consistently and unemotionally follows the strategy.

You may possibly build your own Forex trading strategy but it’s not really necessary with so many well programmed trading systems on the market.

Each Forex trading system should have a special setup, entry point, exit point in the forex market and each software program accomplishes these steps mechanically.

The rules of these systems determine when a stop-loss and profit target level for each trade. Automating these rules is the single most benefit to using a MetaTrader Expert Advisor .