This blog will chronicle my journey with automated trading of the Forex markets with the MetaTrader platform.
MetaTrader is definitely the future of Forex trading and here's why:
This last one is huge because (due to the 24 hour nature of forex) you can only be up and paying attention to the markets at best half of the trading day before you have to spend some time with the family or go to bed. Plus with features like automated trailing stops, you can have the technology edge you need to make money in this ultra-competitive arena.
Also, there's a growing industry of expert advisor programs competing for your trading dollar. Most of them have a one-time upfront charge for unlimited ongoing usage. Its become a war of technology between the EA developers and in some cases the Forex brokers themselves who stand to loose money when a really good robot stats chipping away at their dealing desk.
Realizing that this information is old news to some of you, this post is to get the rest of you folks up to speed. For those of you not already running MetaTrader, do this.
To Do List
1) Download MetaTrader from your favorite broker. Here are a few links to get you started:
FXCM UK-based MT4 page
FXDD MT4 page
Forex.com MT4 page
Alpari UK MT4 page
2) Get familiar with the major parts of the platform, charting, order entry, etc. There are some excellent videos on Youtube to walk you though at:
Metatrader videos
Take your time to get to know the platform, there's a lot to it.
3) Learn how to setup Expert Advisors by going through the above videos.
4) Finally download some EA's and play around with them in demo accounts.To find some free EA's, go to Google and search for "free expert advisor download"
Eventually, I would like to program my own Expert Advisors, and i'm now heading in this direction.
Also, if any of you have been using a particular EA and having some success, please share that with us and we'll demo them along with you.
Okay, get busy and check back later for updates and good trading,
Tcxmon
Also, there's a growing industry of expert advisor programs competing for your trading dollar. Most of them have a one-time upfront charge for unlimited ongoing usage. Its become a war of technology between the EA developers and in some cases the Forex brokers themselves who stand to loose money when a really good robot stats chipping away at their dealing desk.
Realizing that this information is old news to some of you, this post is to get the rest of you folks up to speed. For those of you not already running MetaTrader, do this.
To Do List
1) Download MetaTrader from your favorite broker. Here are a few links to get you started:
FXCM UK-based MT4 page
FXDD MT4 page
Forex.com MT4 page
Alpari UK MT4 page
2) Get familiar with the major parts of the platform, charting, order entry, etc. There are some excellent videos on Youtube to walk you though at:
Metatrader videos
Take your time to get to know the platform, there's a lot to it.
3) Learn how to setup Expert Advisors by going through the above videos.
4) Finally download some EA's and play around with them in demo accounts.To find some free EA's, go to Google and search for "free expert advisor download"
Eventually, I would like to program my own Expert Advisors, and i'm now heading in this direction.
Also, if any of you have been using a particular EA and having some success, please share that with us and we'll demo them along with you.
Okay, get busy and check back later for updates and good trading,
Tcxmon
I just wanted to give you an update on my MT4 experience so far.
ReplyDeleteMy FXDD account is now funded, got an additional free $100, with my deposit. In my demoing my new slow method before my real account activation, I have already had 4 successful trades. Add 10 previous successes on top of that I have been recording in Zulutrade with one loss, and I have been doing pretty good. It is now time to move to my live account. I have been using your MT4 posts on your old blog to get information on how to program my own EA. I have coded a script, not quite an EA right now, that will help me make my trades.
I think I know why many use MT4.
JT-
ReplyDeleteThanks for reading and for the comment. Glad to hear you are learning MQL programming. I have another post on the way today or tomorrow.
Thanks and check back later,
Chris
Hello Everyone,
ReplyDeleteI've included a list of the highest ranking FOREX brokers:
1. Best Forex Broker
2. eToro - $50 min. deposit.
Here is a list of top forex instruments:
1. ForexTrendy - Recommended Probability Software.
2. EA Builder - Custom Indicators Autotrading.
3. Fast FX Profit - Secret Forex Strategy.
Hopefully these lists are helpful to you...
Hello Everybody,
ReplyDeleteFor those of you who are interested in generating profits by FOREX autotrading,
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