Expert Advisor – Trading POC

MT4 is a standalone installation trading platform for individual Forex trader. Anyone can open a trading account with the Forex broker, download the trading program and install onto the PC. Setup and configure the broker server and login to your trading account to begin trading. One of the key features of this trading platform is programming capabilities, beside able to do charting, store historical price data and execute trades.

Expert Advisor

The core programming language is MQL4 or Metaquotes language 4 is a C program look a like programming language. Its comes with program function structure, variable declaration, operands, conditional checks, calling of technical indicator, time date function, math operations and other features. All files end with MQL format and are editable using the editor that comes with the trading platform. These are commonly call expert advisor and are used to run on MT4 trading account.

Create EA

Before you start, you have to code your trading strategy into programming codes MQL and compile with no error. Or you can purchase third party codes and use it to run on your trading account. You need to decide the time frame and open the currency chart of your choice after you login to your Forex trading account.

How to load EA

First you have to copy the MQL file (Expert Advisor) into your MT4 program folder experts. Then run MT4 and it will automatically compiled the expert advisor and it will appear in your navigator windows under the expert advisor directory. Simply select the desire expert advisor and move over to your currency chart. (Click and drag). You will see the name of the expert advisor at the top right hand corner of your currency chart. And look out for a smiling face on the right. If you see a cross then you did not enable EA trading.

Enable Expert Advisor

MT4 comes with an option to disable or enable the expert advisor trading on the top middle panel. Click to disable or enable it. You may have to set some parameters at the tool tab into option menu and go to Expert Advisor tab. You will see a list of tick box to select. In more cases, tick Enable Expect Advisor, tick Allow live trading, tick Allow DLL imports and tick Allow external experts imports. And leave the box empty for Disable experts when account changed, empty for Disable experts when profile change, empty for Ask manual confirmation and empty for Confirm DLL function calls. With the above set up, you should see a smiling face at the top right corner of your currency chart. You call load as many EA you want. My recommendation is limited 8.

Changes to program

If you need to change the expert advisor due to bug or program update, simply click on the name of the expert advisor, choose modify and it will automatically open the metaeditor for you to make changes. Once all changes done, simply compiled the program and it will automatically update the copies that is attached to run on your currency chart.

Source: http://www.bestforexranking.com

With Automated Forex Trading Software is extremely valuable software for all traders as it will help them make huge amount of money by investing only little time. Those traders who are specialized in Forex trading software will have lots to gain, while the beginners will have to learn a lot before they can start using this automated software efficiently. Since there are many Forex traders offering different services online, it becomes very difficult to choose the correct broker. Some of the best Forex trading software is given below:

Automatic Forex trading software with which the trades are executed automatically and this software is based on pre-programmed trading algorithms.
Trading Signal Generators, which provide a level for all the Forex traders to initiate or close their positions.
Trading platform, which allows execution and mutual management of Forex trades.

The automated Forex trading systems work according to an already designed trade algorithm or plan or strategy. This type of software does not require any manual intervention or logic. This software is also known as Expert Advisor because of its efficient working capabilities. The best part of Automated Forex Trading Software is that it prevents the traders from taking any kind of discretionary or emotional components in the system or getting influenced by them. This software also helps to save a considerable time of the trader. The market conditions are automatically analyzed by this software and it takes the appropriate action in favour of the traders. Today, a large number of traders are getting attracted to this software because of its versatile functions.

Some of the advantages of using automatic Forex trading software are given below-:
Time-saving-: the software is designed specifically to save the traders time. When the software is working, the traders dont have to sit and watch it, they just have to set the parameters and all the work will be done automatically by the software. The system will keep an eye on the market, market trends will be analyzed carefully, and the orders will be executed accordingly.
Prevents you from getting greedy and emotional-: machines, as you all know dont possess feelings. So this software works completely like a human mind without the fear of greed or emotion. All the executions take place mechanically and so human mind is not involved in taking the decisions.
Helps in decision making-: the Forex market can change anytime, so the traders have to analyze the market and take important decisions immediately so that they dont suffer loss. Doing all the things together is not easy for the traders and they need help when it comes to taking important decisions. The automatic Forex trading software helps traders make the right decision at the right time.
Guaranteed refund-: when the traders purchase Forex trading software, the sellers offer a 60 days guaranteed refund. Within this time the traders can check its efficiency and performance. If they are not satisfied with the software, they can return it.

Tag: Expert Advisor

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