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Expert Advisor Programming for Metatrader 5: Creating Automated Trading Systems in the Mql5 Language (Paperback)
The first guide to programming in MQL5 is here! "Expert Advisor Programming for MetaTrader 5" is a practical guide to creating automated trading strategies in the MQL5 language. Take advantage of MetaTrader 5's new features and take your trading to the next level! You'll learn how to program expert advisors quickly and easily using a ready-made framework created by an experienced MQL programmer. This book will teach you the following concepts: Learn the basics of MQL5, including variables and data types, operators, functions, event handlers, and object-oriented programming. Place, modify and close market and pending orders. Calculate, verify and add stop loss and take profit prices to an open position. Add a flexible trailing stop and/or break even stop to your strategy. Manage your trade risk with money management. Use pending orders to scale in and out of positions. Use price, time and indicator data in your expert advisors. Control program execution by trading on new bar open, and add flexible trade timers to your strategies. Walk through the creation of several basic trading strategies from start to finish. Inform the user with dialog boxes, email alerts, mobile notifications and sounds. Draw trend lines, arrows and text labels on the chart. Read and write data to CSV files. Learn the basics of creating indicators, scripts and libraries in MetaEditor. Debug, test and optimize your trading strategy. And much more! Whether you're an experienced programmer moving from MQL4, or a novice just starting with MQL5, this book will give you the foundation to quickly program fully-featured and robust trading systems. All programs and source code files featured in the book are available for download at the book's official website at Expert Advisor Programming for MetaTrader - MQL4 and MQL5 book
MQL5 programming language: Advanced use of the trading platform MetaTrader 5: Creating trading robots and indicators
by Timur Mashnin
Development of indicators and advisors using the MQL5 programming language for the MetaTrader 5.
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How to host an automated trading robot on Metatrader (how to attach EA to the chart for trading)
https://www.mql5.com/en/forum/238562#comment_7158340
Forum on trading, automated trading systems and testing trading strategies
automated trading robot
Eleni Anna Branou, 2018.04.19 11:43
1. Open your MT4 platform.
2. Open the chart of the instrument that you want to trade with (currency, stock, commodity or index).
3. Copy the .ex4 file of your expert advisor (I believe this is what you call automated trading robot) and paste it in the: File >> Open Data Folder >> MQL4 >> Experts folder of your MT4 platform.
4. Right click on the Refresh option of your Experts Advisors folder in the MT4 Navigator window.
5. Click on the Experts Advisors folder, find the expert you've just inserted and drag it on the chart that you want to use it with.
6. A window with the Expert Advisor's setting will be opened and there you can fill all the parameters of your "robot".
7. Don't forget to tick the: Allow live trading in the Common tab of your Expert's settings.
8. Close the settings window and if you want to begin trading with your Expert Advisor, click the: Auto Trading button of your MT4 platform.
9. If you see a happy smiling face in the upper right corner of your chart, then you are OK.
10. If you want to avoid internet and power outages, it is strongly recommended to use a VPS service for your automated trading.
Forum on trading, automated trading systems and testing trading strategies
Automatic Translation of MQL5.com Forum Messages from Any Language
MetaQuotes Software Corp., 2013.08.09 15:22
MQL5.com forum now features automatic translation of any messages. You can translate any forum message, regardless of its source language, into one of 12 languages: Arabic, Indonesian, Thai, Spanish, Italian, Vietnamese, German, Korean, Chinese, French, Portuguese and Japanese. Thus, you can translate forum messages from any language.
Write in your mother tongue and communicate with MQL5.com participants in the way you like. Now, everyone will be able to understand you! Translate any Forum discussions in two clicks and read them in your native language. So, you will also be able to understand anyone!
The editor of forum messages has also obtained some new features. After you have prepared your message in any language, you can translate it into one of the three interface languages (English, Russian or Chinese) right in the editor. To do that, click Translate button on the editor's panel.
There are no linguistic barriers on MQL5.com forum any more. Now, you are able to find common language with all community members!
Forum on trading, automated trading systems and testing trading strategies
Automatic Translation of MQL5.com Forum Messages from Any Language
MetaQuotes Software Corp., 2013.08.09 15:22
MQL5.com forum now features automatic translation of any messages. You can translate any forum message, regardless of its source language, into one of 12 languages: Arabic, Indonesian, Thai, Spanish, Italian, Vietnamese, German, Korean, Chinese, French, Portuguese and Japanese. Thus, you can translate forum messages from any language.
Write in your mother tongue and communicate with MQL5.com participants in the way you like. Now, everyone will be able to understand you! Translate any Forum discussions in two clicks and read them in your native language. So, you will also be able to understand anyone!
The editor of forum messages has also obtained some new features. After you have prepared your message in any language, you can translate it into one of the three interface languages (English, Russian or Chinese) right in the editor. To do that, click Translate button on the editor's panel.
There are no linguistic barriers on MQL5.com forum any more. Now, you are able to find common language with all community members!
Just to remind (because the people are continuing asking) -
Forum on trading, automated trading systems and testing trading strategies
How to Start with MT5, a summary !
Sergey Golubev, 2017.03.12 08:23
MQL5.COMMUNITY PAYMENT SYSTEM
Internal payment system was initially created in MQL5.community for payment of fees to authors of Articles. But the community's life does not stay still, and plenty of services, useful for traders and implying commodity-money relations between two parties, has emerged on the web-site since the launch of the payment system:
Forum on trading, automated trading systems and testing trading strategies
How to start with MetaTrader and forex, the beginning
Sergey Golubev, 2012.11.25 13:37
What is pre-set or set file
What is pre-set or set file.
Set files (or pre-set files) are the settings of the EAs.
- To use in trading : during attaching EA to the chart - place set file (pre-set file) to the following folder: [...MQL4\presets] for MT4 or [...MQL5\presets] for MT5, and press 'Load'.
We can also create those files pressing 'Save':
- To use in backtesting or optimizing the settings place the file to the following folder: [...MetaQuotes\Terminal\...\tester] for MT4 or [...MQL5\profiles\tester] for MT5 - and, during attaching EA to the chart - press 'Load'.
We can also create those files pressing 'Save':
Set files are just a settings of the EA. Nothing more. Just a settings. It saves our time because we do not need to type/change the settings in the EA manually. All we need is just to use set files.
If someone is asking you:
"what is the settings in your EA?"
so you will probable will post the set file as a reply (you will create the file with your settings and will attach to your post to the forum).
If someone is asking you:
"what is the settings in your indicators on the chart?"
so you will probable will give template file as a reply.
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Projects and MQL5 Storage - practical explanation about how to use them (and why) - read this page:
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MultiRobot - a lot of strategies in one robot
Forum on trading, automated trading systems and testing trading strategies
Press review
Sergey Golubev, 2018.07.26 12:05
Things to Consider When Choosing a Broker (based on the article)
When looking to trade currencies, a new trader is bombarded with massive amounts of advertisements, offers, and of course noise from online forums. In this article, I will try to break down some of the most important things to consider when choosing a Forex broker. After all, the main function of a Forex brokerage is to simply allow you to place an order with the liquidity provider, and at the end of the day most function in a similar manner. However, that's not to say there aren't some things that you should pay close attention to.Are they regulated?
Probably the most important thing to pay attention to is whether or not the Forex broker you are choosing is regulated. Beyond that, it also matters where they are regulated. Unfortunately, not all regulatory bodies are equal, and therefore some traders get sucked into less than reputable brokerages due to this reason alone.
Regulation allows the trader to feel somewhat protected, as there is a governmental agency that is paying close attention to what the Forex broker is doing. Many years ago, when Forex trading was relatively new for retail traders, there were a lot of nefarious companies out there willing to take your money. Since then, we have seen a tightening and maturation of the industry, so almost all brokerages are regulated at this point. If they are not, that is a huge red flag and they should be avoided at all costs.
Beyond that, regulation in a country like Germany or the United Kingdom is much different than regulation in a country like Belize. Some of the most stringent regulatory regimes can be found in the UK, the United States, the EU, Australia, and Japan. In short, countries with more advanced economies typically have better regulatory protections for the retail Forex trader. Importantly, some countries, such as the U.K., offer deposit protection insurance, meaning that even if your broker goes bankrupt, the government will eventually refund your account balance.
What products do they offer?
Obviously, you need to know whether the broker you're interested in offers the markets that you wish to trade. For example, if you wish to trade the CAD/JPY pair, the broker needs to offer it. Not all brokers offer all currency pairs. There have been brokerages that I have seen offering as few as 10 pairs, but I have seen other brokerages out there offering several hundred. In general, the larger brokerage firms will offer at least 25 pairs, quite often 40. Some of the more institutional based liquidity providers and brokerages can offer several hundred, giving you the opportunity to trade exotic currencies. Make sure that you can get the product you are looking for before filling out the paperwork.
ECN or dealing desk?
An Electronic Communication Network, or ECN, matches orders directly with each other, creating a fair and transparent marketplace. Dealing desk brokers, on the other hand, will look to either match orders or trade directly against you. A reputable broker will follow the guidelines and rules of the regulator and treat you fairly regardless. It may be considered heresy to say this, but my experience has shown me that it makes no difference which type of brokerage you choose, although spreads can vary greatly between these two different models. Typically, if you get an ECN broker to facilitate your order, they will charge less and spread, but charge a commission. In the end though, it's pretty much a wash as to the cost of the trade. One area that the ECN works better for is typically scalping, as it allows for quick in and out trades and you don't have to worry about any lag time at the desk. If you want to scalp, bear in mind that many brokers do not allow scalping-style trading, so be sure to check that out.
Analysis
Some brokerages offer expert analysis while some don't. It comes down to whether or not you need a little bit of extra help to form trade ideas, or if you are comfortable trading on your own. Beyond that though, there are plenty of places online, where you can find plenty of analysis for free.
Extras
Some brokerages will go beyond the usual calendar and announcements and offer plenty of extras. Sometimes those are deposit bonuses, sometimes they are webinars or even trading education. Again, all of this can be found for free online, but some brokerages have quite nice educational sections as an example. Think of it as buying a car, you can either get the stripped down version, which is generally cheaper, or you can get a more expensive model that comes with all the bells and whistles. Brokerages are much like this.
CFDs offered
Let us not forget the CFD market. Unfortunately, CFDs aren't available for trading everywhere (such as in the United States). However, most of the world does allow CFD trading, and this is something that you should pay attention to. If you have the ability to trade the currency markets, why not trade indices or crude oil? This gives you the ability to trade the world in one account, which of course has a major advantages if you understand correlation between markets. One of the major advantages that the rest of the world has over the United States is the ability to trade these markets as you don't need to go in and by an entire futures contract to trade natural gas, you can simply put up a small amount of margin.
Longevity
Much like any other business, the better you treat your customers the longer you stay alive. That being said, as a general rule you should feel bit more comfortable with a brokerage that has been around for 10 years as opposed the one that just started this year. However, if they are regulated in the proper sense and based in a strong, financially mature country, you should be okay. Make sure to read as many reviews as possible, but keep in mind that some of it has to be taken with a grain of salt as trading is emotional, and some people will negatively review brokers after losing money (which isn't the broker's fault). In general though, you can see through these negative posts, as they tend to be a bit over-the-top.
The main take away
The most important way to choose a Forex broker is to use common sense. There are a few things that I would consider about brokerages before depositing. Are they regulated? If so, where? Do they offer demo accounts? Do they have the currencies that I'm looking to trade?
Some more about brokers and more (for newbies) -
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How to Choose an Islamic Forex Broker
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VIDEO LESSON - An Introduction to ECN
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How Money is Made by Trading Forex
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Stock Market Tutorial - The Only Video You'll Ever Need
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Forex vs Futures vs CFDs - What to Trade?
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