MetaTrader Global » expert advisor

MetaTrader 5 – MQL5 for Beginners

MetaTrader Global — Fri, 25 Jun 2010 05:33:34 +0000

Step-By-Step Guide to writing an Expert Advisor in MQL5 for Beginners

Introduction

This article is aimed at beginners who wish to learn how to write simple Expert Advisors in the new MQL5 language. We will begin first by defining what we want our EA (Expert advisor) to do, and then move on to how we want the EA to do it.

1. Trading Strategy

What our EA will do:

It will monitor a particular indicator, and when a certain condition is met (or certain conditions are met), it will place a trade (either a Short/Sell or Long/Buy), depending on the present condition that has been met.

The above is called a trading strategy. Before you can write an EA, you must first develop the strategy that you want to automate into the EA. So in this case, let us modify the above statement so that it reflects the strategy we want to develop into an EA.

We will use an indicator called Moving Average with a period of 8 ( You can choose any period, but for the purpose of our strategy, we will use 8 )
We want our EA to place a Long (Buy) trade when the Moving Average-8 (for the sake of our discussion, I will refer to it as MA-8) is increasing upwards and the price is close above it and it will place a Short (Sell) when MA-8 is decreasing downwards and the price is close below it.
We are also going to use another indicator called Average Directional Movement (ADX) with period 8 also to help us determine whether the market is trending or not. We are doing this because we only want to enter the trade when the market is trending and relax when the market is ranging (that is, not trending). To achieve this, we will only place our trade (Buy or Sell) when above conditions are met and the ADX value is greater that 22. If ADX is greater that 22 but decreasing, or ADX is less than 22, we will not trade, even though the condition B has been met.
We want to also protect ourselves by setting a Stop loss of 30 pips, and for our Profit target; we will target a profit of 100 pips.
We also want our EA to look for Buy/Sell opportunities only when a new bar has been formed and we will also make sure we open a Buy position if the Buy conditions are met and we do not already have one opened, and open a Sell position when the Sell conditions are met and we do not already have one opened.

We have now developed our strategy; it is now time to start writing our code.

View full article at http://www.mql5.com/en/articles/100

MetaTrader 5 – Strategy Tester Released

MetaTrader Global — Mon, 21 Jun 2010 01:22:38 +0000

Recently the beta version of MetaTrader 5 Strategy Tester was released. This program is the integral part of the MetaTrader 5 Client Terminal being designed for the purposes of testing and optimization of MQL5 Expert Advisors.

With the testing you can assess the qualities of your Expert Advisor on history data before launching it in real trading. Optimization allows choosing the most profitable parameters for your Expert Advisor making it a real efficient one. The Strategy Tester is an indispensable tool for developers of Expert Advisors. It is almost impossible to develop a profitable an error-free Expert Advisor without the tester.

As compared to the tester in MetaTrader 4, the new MetaTrader 5 Strategy Tester is a more powerful and accurate tool. It has obtained the new function of distributed optimization that will be useful in work with compound Expert Advisors. Besides that, the Strategy Tester offers efficient testing of multi-currency Expert Advisors.

“The Strategy Tester is the last component from the set of required tools for efficient development of Expert Advisors. This set also includes the MQL5, MetaEditor, debugger and execution module in the MetaTrader 5 Client Terminal. The absence of a tester was the last obstacle to the wide possibilities provided by the MQL5 environment. We hope that together with the release of MetaTrader 5 Strategy Tester, the number of new MQL5 Expert Advisors will sharply increase”, – Stanislav Starikov, the senior developer of MetaTrader 4/5 terminals and MQL4/5, said.

MetaTrader Tips – Time Zone Correction

MetaTrader Global — Mon, 10 May 2010 23:25:46 +0000

At times traders may need to perform a time synchronization task when expert advisor is working. Prohibition or permission for orders opening in certain time spans during 24 hours, cancellation of suspended orders after certain time, prohibition against work of the expert advisor on holidays, trade permission only at news-time etc. may be required.

Time in MetaTrader 4 client is read from the server and depends on the brokers configuration. Normally, time on the brokers server is set to their local time. MetaTrader 4 has on means for determination or automatic adjustment of the time zone. There is a possibility at our disposal to know the server time and local time of the computer on which the MetaTrader 4 client is working. Accordingly, if we use such dimensions as hours, minutes or even specific dates then we have to provide correspondence between local time and time on the server. This task is owned by the trader, while the programmer considering the above limitations can provide only the means for configuration.

With respect to zero meridian, time can have a shift of -12 to +12 hours. I.e. within 24 hours. however, two dates fall within this span. These are the current date (from 0 to +12) and previous date (from -12 to 0).

Let’s take a look at an example.

Expert advisor has to work only during the session at NYSE. NYSE is opened at 9:30 AM and closed at 4:00 PM as per Eastern Time. If the time will be converted to Greenwich Mean Time, then we will have GMT-5. We have to configure the expert advisor to work during this time. If we are located at the GMT-0 zone, then for correct synchronization we have to know our location with respect to zero meridian as well. E.g., our time zone is GMT+1. Thus, time difference makes up 6 hours. As the reference point is time on the side of the Metatrader 4 terminal, then the relative time shift will be -6 hours.

Let’s move on to specific figures and computations. Local time on trader’s computer is 2:00 PM. We find the time in New York by shifting the current time 6 hours back. We get 8:00 AM. It is too early for the expert advisor to operate; the stock exchange is not opened yet. The exchange will open when the local time will be equal to 3:30 PM.

Let’s summarize. If the expert advisor has the TimeShift configuration, then the task of the trader is to know the difference between the local time and the time of event for which the expert advisor has to be configured. If local time precedes the required event, then the shift will have the “+” sign, and if local time follows the event, then the shift will have the “-“ sign.

by Alexey Koshevoy, AirBionicFX founder and CEO

Using Neural Networks In MetaTrader

MetaTrader Global — Thu, 19 Nov 2009 16:42:32 +0000

Many of you probably have considered the possibility of using neural networks in your EA. This subject was very hot specially after 2007 Automated Trading Championship and the spectacular winning by Better with his system based on neural networks. Many internet forums were flooded with topics related to neural networks and Forex trading. Unfortunately writing native MQL4 implementation of NN is not easy. It requires some programming skills and the result would not be very efficient specially if you’d like to test your final result in tester on large number of data.

In this article I’ll show you how you can use the freely available (under LGPL), renowned Fast Artificial Neural Network Library (FANN) in your MQL4 code while avoiding certain obstacles and limitations. Further I assume that reader is familiar with Artificial Neural Networks (ann) and terminology related to this subject so I’ll concentrate on practical aspects of using particular implementation of ann in MQL4 language.

To read the full article, please visit: http://articles.mql4.com/777

Recipes for Neuronets

MetaTrader Global — Thu, 12 Nov 2009 03:51:40 +0000

Not so long ago – at the dawn of technical analysis when by far not all traders had computers – people appeared that tried to predict future prices using formulas and regularities invented by them. They were often called charlatans. Time went on, methods of information processing became more complicated, and now there can hardly be traders indifferent to technical analysis. Any beginning trader can easily utilize charts, various indicators, search for regularities.

The number of forex-traders grows daily. Together with that their requirements for market analyzing methods grow. One of such “relatively” new methods is the use of theoretically fuzzy logics and neural networks. We see that topics devoted to these questions are being actively discussed on various thematic forums. They do exist, and will go on existing. A human that entered the market will hardly ever leave it. While it is the challenge to one’s intelligence, brain and strength of will. That is why a trader never ceases to study something new and to use various approaches in practice.

In this article we will analyze basics of neuronet creation, will learn about the notion of Kohonen neural net and will talk a little about methods of trading optimization. This article is first of all intended for traders who are only at their beginning in studying neuronets and principles of information processing.

To read the full article, please visit: http://articles.mql4.com/783

Working with Doubles in MQL4

MetaTrader Global — Tue, 10 Nov 2009 18:02:40 +0000

The MQL programming opens new opportunities for the automated trading, many people all over the world already have appreciated it.

When we are writing an Expert Advisor for trading, we must be sure that it will work correctly.

Many newbies often have some questions when the results of some mathematical calculations differ from those expected. The program is compiled and can work, but not as it should. They are checking the code again and again, finding the new “mistakes” in language, in implementation, in functions, etc.

In the most of cases, the careful analysis shows that the language and compiler work correctly, but code has a small error, and it can take a long time to find and correct it.

In this note we will consider a typical programming errors, that occurs while working with double numbers in MQL4 programs.

To read the full article, please visit: http://articles.mql4.com/866

Analysis of 30 Indicators and Oscillators

MetaTrader Global — Tue, 10 Nov 2009 17:13:20 +0000

The abundance of indicators and oscillators developed nowadays inevitably leads to the problem of choosing the most efficient of them. Very often a beginning trader first facing this plenty of available analysis and forecasting tools starts testing them on history data and demo accounts. After that a set of conclusions is made about the efficiency and uselessness of this or that indicator in certain situations.

However such an estimation is not always objective because of the large number of parameters (symbol, chard period, volatility, etc.) and therefore the large amount of the analyzed information. More reliable conclusions about certain indicators and oscillators can be made after conducting their comparative analysis.

The program analyzes the following indicators and oscillators:

Acceleration/Deceleration — ??
Accumulation/Distribution – A/D
Alligator & Fractals
Gator Oscillator
Average Directional Movement Index – ADX
Average True Range – ATR
Awesome Oscillator
Bears Power
Bollinger Bands
Bulls Power
Commodity Channel Index
DeMarker
Envelopes
Force Index
Ichimoku Kinko Hyo (1)
Ichimoku Kinko Hyo (2)
Ichimoku Kinko Hyo (3)
Money Flow Index – MFI
Moving Average
MACD (1)
MACD (2)
Moving Average of Oscillator (??????????? MACD) (1)
Moving Average of Oscillator (??????????? MACD) (2)
Parabolic SAR
RSI
RVI
Standard Deviation
Stochastic Oscillator (1)
Stochastic Oscillator (2)
Williams Percent Range

To read the full article, please visit: http://articles.mql4.com/628

What Is Automated Trading

MetaTrader Global — Thu, 29 Oct 2009 02:12:03 +0000

Modern technologies allow us not only to trade in financial markets using personal computers, but we can fully automate a trading system now. Using a computer program you can relieve yourself from the routine of analyzing financial markets and performing trades.

Our client terminal has all functions that allow you to develop, test and use your trading system. The development environment named MQL4 is integrated into the terminal. MQL4 consists of MetaEditor, Strategy Tester and Compiler.

Using these tools, you can develop:

Expert Advisors – programs that allow you to automate fully both analyzing and trading processes. Expert Advisors can relieve you from the routine of analyzing financial markets and performing trades;
Custom Indicators – applications similar to the embedded technical indicators that will help you to analyze markets;
Scripts – programs that automate single frequently repeated operations. For example, using a script you can close all positions by a single keystroke.

It is rather easy to develop trading systems using the development environment of MQL4. In MetaEditor, you will find detailed help topics and description of the programming language. Having developed your own trading system, you will be able to test it on historical data in the Strategy Tester. This can allow you to evaluate your trading system’s profitability, risk factor, and stability in a quick and easy way.

Naturally, it may be difficult to start developing one’s own trading system from scratch. The detailed description of the programming language is often insufficient for this. To make your initial steps to creating a trading system, you can visit the MQL4 Community website – www.mql4.com. This site represents a place where developers of trading systems meet, develop strategies, publish their articles and share their codes. You will find at the website of MQL4.Community:

Detailed description of the MQL4 programming language – docs.mql4.com
If you have any questions about any elements of the MQL4, visit this section. You will surely find the detailed description of the language construction you are interested in.
A huge database of ready-made Expert Advisors, technical indicators and scripts – codebase.mql4.com
Many developers publish their codes for free. The Code Base counts hundreds of useful Expert Advisors, indicators and scripts. You will find something interesting there for sure.
Articles about various problems of programming trading systems – articles.mql4.com
Developing a trading system, you may face one or another problem. Try to find a ready solution in the Articles section. Another developer might have experienced your problem before and has already published a solution for it. You can publish your own articles devoted to solving various problems. This will get you fame and money – authors are paid for their materials published.
Forum of developers of trading systems – forum.mql4.com
If you can?t find a solution for your problem in any sections described above, you can ask your question in the forum. Thousands of people participate in discussions, they will surely help you. Moreover, you can use the forum for just mixing with Community members or sharing your successes in the sphere of development of Expert Advisors.

As any other new phenomenon, automated trading has its critics and skeptics. However, automated trading is quite a serious technology. Visit the website of the Automated Trading Championship (championship.mql4.com) and you will see it yourself. This is an annual championship with total prize pool of USD$80,000. Hundreds of developers from all over the world participate in it. Their Expert Advisors operate fully independently within three months. Three Winners will share the total prize amount at the end of the contest. The Championship will showcase Expert Advisors and automated trading.

On the Championship website, you will find much useful practical information and see how different trading systems work under identical conditions. In the News section, various materials devoted to development and use of Expert Advisors are published on a daily basis. If you feel something to be unclear, you may ask any Participants about this. Moreover, you can participate in this Championship yourself and get one of three money prizes and the title of The Best Developer of Expert Advisors!

Analytics in MetaTrader 5

MetaTrader Global — Wed, 28 Oct 2009 01:59:38 +0000

Analytics is one of the most important components of trading. Based on analytical data, a trader can decide what operation to execute, when to do it and the profit/loss of the trade. The MetaTrader 5 platform offers you wide analytical possibilities!

Charts

Charts constitute a work field for technical analysis. This is where dynamics of security quotes are featured, technical indicators and graphical objects are applied. The number of charts that can be used in a terminal is unlimited, and they can be positioned in any way. This enables traders to adjust their workplaces to their own needs.

Every chart can be individually set up. Traders can use the detailed setup of color schemes, displaying of additional data objects and scaling, which allows the configuration of every chart according to the needs of a certain analytical tool. For example, you can setup the displaying of separators for larger periods, the OHLS line, and the chart scaling for the adequate featuring of Gann tools.

Chart Properties Window

All the chart settings can be saved in Templates and Profiles. Templates store almost all the parameters of a chart: its type, color scheme, scale, applied technical indicators, graphical objects and others. In Profiles you can save charts with their templates, as well as their location. All these tools enable you to quickly set up your workplace.

Charts Profiles and Templates

In the client terminal, the history of quotes for each security is used for building charts. In MetaTrader 5, the history is stored as M1 (one minute) only, and all the charts are built based on these data. The terminal supports 21 timeframe for each security, starting from a minute to a month one.

The main limitation of timeframes is their multiplicity: one hour must contain an integer number of minute periods, and a day must consist of an integer number of hour periods. According to this rule, the following timeframes are available in the terminal: M1, M2, M3, M4, M5, M6, M10, M12, M15, M20 and M30.The available hour periods are: H1, H2, H3, H4, H6, H8 and H12. Three more timeframes are D1, W1 and MN1. So many available timeframes allow using any analytical tools, detecting long and short-term trends, and precisely defining entry and exit points.

Timeframe Toolbar

The terminal is installed with an empty history. In order to upload data, open the corresponding chart, and minute quotes for the previous 30 days will be uploaded. If you need more data (for example, if your indicator uses large periods for calculation), simply move your chart to the beginning, and additional history will be uploaded.

A space-efficient format of data storing is implemented in MetaTrader 5. Thus, the ten years’ 1-minute history of quotes for GBPUSD takes as little as 10 megabytes. Having uploaded this history once, you can build all the charts for this symbol, from M1 to MN1.

The terminal offers three chart types to display data: linear chart, candlesticks and bars. So, you can choose the most convenient one for analyzing prices. To help you analyze, the terminal contains 38 built-in technical indicators and 39 analytical objects.

Indicators

Technical indicators are automatic tools generating signals based on various calculations. The built-in indicators of the MetaTrader 5 terminal cover almost all needs for analytical tools. The terminal offers you the most popular trend indicators, oscillators, Bill Williams’ tools and many other instruments. Should you need any specialized tool, you can write it in the MQL5 language or download/purchase a ready-made program.

Technical Indicators in MetaTrader 5

In MetaTrader 5, indicators can be located over a price chart or they can be displayed in a separate window. In calculations, indicators use securities’ price quotes, as well as values of other indicators. So, you can create tools for complex trading systems and combine different indicators. For example, you can apply Moving Average to Awesome Oscillator and obtain its signal line.

Indicators Applied to Other Indicators in MetaTrader 5

For every parameter, not only indicator featuring parameters (line color and width, window scale and others) can be chosen, but also calculation parameters can be set. For example, instead of the default period of 10 bars, 50 or 150 bars can be set for the Moving Average. Besides, different levels can be applied to indicators to make analysis easier (constructing channels, support/resistance lines, etc.).

Objects

Unlike indicators, analytical objects aren’t automatic, and should be applied to a chart or indicator manually. Custom objects can’t be developed in MQL5, that’s why we tried to include as many analytical objects as possible, to help traders analyze prices.

‘Simple’ Analytical Tools in MetaTrader 5

MetaTrader 5 contains 39 analytical objects. You can use simple tools to mark different points, levels, limits and areas: arrows, labels, shapes, lines and pictures. Terminal also offers more complex Gann tools, Fibonacci and Elliott tools, and channels to help you detect regularities in price dynamics.

Interactive analytical Tools in MetaTrader 5

Another important group contains interactive objects. They are buttons, entry fields and charts. Buttons and entry fields are used in MQL5 programs. For example, some actions of an expert Advisor can be assigned to a button, and parameters can be transmitted to an EA through an entry field. The Charts object is a picture-in-picture function allowing to impose an additional chart of any security to the current price chart. This enables you to follow the dynamics of several symbols and analyze them.

Source: http://forum.mql4.com/26429

Tips for choosing a MetaTrader Expert Advisor

MetaTrader Global — Tue, 27 Oct 2009 17:07:35 +0000

It is important to choose a forex trading platform that meets your requirements. There are different types of platforms that provide different facilities. The platform that you choose depends on your approach. Some platforms provide high level of details. They provide highly complex charts and indicators and complete information about the markets. If you are an expert in the FX market, this is what you would expect and this is what will help you to make trading better decisions. On the other hand, if you are new to this market, complex indicators and charts can only confuse you and make you edgy. So, you might require a forex platform that provides a simplified data and gives away tips that are understandable to even a layman.

MetaTrader is one platform that is highly popular and is used by many traders around the world. Its popularity has increased so much that there are many experts that have designed MetaTrader Expert Advisors (EA) and it can be a massive task to choose the best MetaTrader EA. There are basically 2 categories of advisors. Follow these simple but effective tips to choose the best MetaTrader EA.

Paid MetaTrader EA are the ones that charge the traders for the services that they provide. These platforms are made for commercial reasons and you have to purchase them from the developer. Even if they are available on the internet, you have to pay for them in order to download them. Paid MetaTrader EAs cannot afford to give out false tips as when traders are paying for the service, they expect excellent tips. One way to evaluate the paid EA is to go through the reviews of that EA. Consult other traders as to what they have to say about the platform. But, be aware about the false reviews that many companies have written for themselves.

The next category is the free MetaTrader EA. This is freely available in the market. You can even download them freely from the internet. Many traders themselves develop platforms for their use and make it available for others. There are many recognized free EAs. One must be very careful while selecting a free version because the creator might not have taken enough efforts to make the forex EA as effective as some of the paid versions. The best way to evaluate the free MetaTrader EA is to look at the number of users using that EA, the reviews of that EA and so on. If you are new to the market and are not doing FX trading full time, there is no harm in going for the free version particularly if you are not keen on shelling out extra bucks.

Here is a link to where you can find some free EAs – http://codebase.mql4.com/experts

MT4 VPS Hosting

MetaTrader Global — Fri, 23 Oct 2009 02:21:49 +0000

Forex traders can choose to use expert advisors or forex robots with MetaTrader. For using these MetaTraders trading robots your computer should always be connected to the internet otherwise the robots will not work correctly. There are many traders who are not able to leave there computers on constantly and others who have slow internet connection. The solution to all these problems is MetaTrader VPS hosting. This means that you are hosting your MetaTrader setup on an external server. Dedicated servers are always connected to the internet. It means that the personal computer of the trader does not have to be connected to the internet 24 hours a day. All you have to do is to upload your trading robot on the dedicated server. After uploading the robot you can manage your trading without any interruptions.

There are several services available in the market. You should compare the price as well as features of all these companies before you make any decision. You can seek an expert advice before choosing a hosting plan. It is a good idea to spend some time in finding several websites related to VPS hosting. A trader should know all his requirements before he chooses a hosting plan. Visit http://www.metatraderglobal.com/global-sites/usa/ for some recommended VPS providers.

There are some features which you should consider while opting for VPS hosting plan. Three main things you should look for are bandwidth, disk space and uptime guarantee. A reputed company always offer a money back guarantee. It is a good idea to opt for a company which is offering a money back guarantee. The company you chose should provide a 24 hour reliable customer support.

By following the above tips and techniques you can easily choose a MT4 VPS hosting services according to your needs and budget.

MetaTrader 4 – The World’s Most Common Trading Software

MetaTrader Global — Wed, 21 Oct 2009 21:34:00 +0000

Off-exchange retail foreign currency (or forex) trading uses currency from a variety of countries to create a one of the most popular trading markets. We believe that traders-beginners, keen by passion, rush to trade without having a Forex trading strategy.

MetaTrader Expert Advisors or a MetaTrader EA is a mechanical trading system which automates the trading process on the Forex market. An Expert Advisor uses only the forex trading strategies applied by its author and can only be as unique as the author’s programming vision by using unique Forex trading strategies. These trading robots trade under the control of trading platform Metatrader 4. The robots operate during the forex trading hours, the forex market is open 24 hours 5 ½ days a week and because of this, you limit the chances of missing trades. Note that during technological crisis or issue, 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.

MetaTrader EAs are very easy to acquire and use. As soon as you purchase an expert advisor, all you need to do is download it, install it into MetaTrader, set your preferences and run the program. The important thing to note is that you will need to have an account with a Forex broker that supports MetaTrader. The MetaTrader platform has the built-in MetaTrader Expert Advisors based on the technical analysis, such as MetaTrader indicator. There are at least a few dozen forex brokers who use MetaTrader, and a couple of them should fit your trading requirements perfectly.

Visit our Global Sites page to find your closest broker.

The robots operate during the forex trading hours, the forex market is open 24 hours 5 ½ days a week and ~~24 hours, non-stop and~~ because of this, you limit the chances of missing trades. ~~never miss an opportunity to get the big trades~~.Note that during technological crisis or issue, 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.

MetaTrader 4 Tips

MetaTrader Global — Mon, 14 Sep 2009 00:57:06 +0000

Make sure that the MT4 (MetaTrader 4) is running on a computer which is connected to internet all the time. This is important because MetaTrader 4 and the expert advisor is not running on your broker’s servers. Many of the functions of EA or forex software can be performed successful only if it is constantly connected to the internet. For instance, if you have set a trailing stop, MetaTrader 4 will send out a command to your forex broker account to move the stop each time and hence the MT4 along with your autopilot forex software need to be connected to the world wide web all the time.

So if you have installed your forex platform along with your Forex EA on your home computer or laptop you have to leave it online 24 hours from Sunday night thru Friday to make the most of the potential of a MetaTrader 4 expert advisor. Otherwise you need to exit all of your trades before you disconnect your computer from the internet any particular trading day.

An interruption in the connection will result in failure of synchronization between EA and forex broker account. That means no more instructions are sent to your broker account and as a result the trailing stop will be left where it was last positioned. This situation might still protect you from a heavy loss but it will not move up automatically any more. But do not worry, you have another option to overcome this problem.

Some of the best forex software or EAs can be hosted on remote servers. That is, instead of using your own computer you can install the EA and set it with the forex platform on a computer of the service provider which is always online. Usually the EA companies will offer this an additional option which requires an upgrade price. Though it will result in additional cost, using the remotely hosted expert advisor is the best option to get the maximum benefit of the automated forex software or EA. 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.

Expert Advisor Resources

MetaTrader Global — Mon, 07 Sep 2009 04:28:27 +0000

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 .