mt4 Vs mt5 lets solve it!
MT4 is forex only. If you want to trade dax, MT5 is your only option.
Edit, Installed MT4 for the first time, and just noted i can trade DAX cfd's. However there is no Exchange access as with MT5, CME for example.
MT4 is forex only. If you want to trade dax, MT5 is your only option.
Hi traders
I am quite old in stock market but newbie in automated trading, that means
that i have no idea what software to pick and how to begin. Also i dont know anything about mql4 or 5 language.
So
the one million dollar question for me is which one of mt4 or mt5 should i choose to my new career and why?
Take
in consideration that i want to create rather simple robots that i have in mind, i am working with DAX mainly and i have a tiny experience
creating
EA in ancient metastock, in a tottaly different enviroment. Also i am a bit old in age so i dont absorb everything as i used
to.. so simpler is better..
Could you please answer this?
All opinions welcomed!
Many MT4 brokers offer Indices CFDs, like DE30 which is the future instrument of DAX index. They also offer other Indices CFDs from all major stock markets.
MT5 is a more complete platform and solution if you want to go deeper with your coding and trading possibilities.https://www.metatrader5.com/en/trading-platform/comparison-mt5-mt4
many good arguments for MT5, in your case especially the supported markets and you will also quickly appreciate multi-threaded backtesting, which makes things a lot faster;
I guess MT4 will be around for many more years, just because it has such a big community, but MT5 has some objective advantages and should be a little more future-proof.
One way to get started: for the basic concepts read something like C++ for dummies, because C++ and MQL have many similarities, then look at MQL5 code examples from the codebase and try to understand what other people were doing. It's really not that complicated. I had started in a similar way with no professional programming background and now have my own complex machine learning libraries. It's totally doable. Especially if you want to create rather simple robots, I'm sure you'll see some working results within a few weeks. It's much harder to come up with a good trading strategy than the code for it.
Also, the F1-key is your friend: mark a keyword and you'll directly get the explanations for the correct syntax until you're familiar yourself.
Another tip for when you're starting: don't think of an EA as the whole program, but as a collection of components (/bricks). You'll quickly see that many components, like for stop-loss-management, sending orders, position size calculation etc. can be recycled for other EAs. Often you just need to change the main decision logic without reinventing the wheel every time.
You'll see that the individual components often have just a few lines and by themselves are not complicated at all.
- www.metatrader5.com
Thank you all for your replies, you are very helpful.
Just the transition from metastock language to mt5 looks like from bicycle going to lamborgini.
A bit scaring for an amateur.
About 10 years since version 5 was launched and we're still using the 4th. That says it all.
That says nothing.
I started forex with Metatrader 3 (and you may find some my posts on the forum with indicators for Metatrader 3).
And many people stopped using Metatrader 3 for the following reasons:
- brokers stopped supporting MT3;
- most indicators/EAs/scripts were converted to Metatrader 4, and many coders created many good indicators/EAs/scripts for Metatrader 4 (and not for MT3);
- Metatrader 4 platform is more advanced compare with Metatrader 3,
- many very professional coders and traders stopped using MT3 and started to use Metatrader 4,
- and for some other reasons.
That is why we are having MT4 as a mass trading platform.
It will be same case with Metatrader 5 (compare with MT4 for example).
---------------
And there are some threads (for information) -
-
Why is it better MT5 than MT4?? Does it have fewer limitations ??
https://www.mql5.com/en/forum/167691 -
Why is it better MT5 than MT4?? Does it have fewer limitations ??? [UPDATED]
https://www.mql5.com/en/forum/219009 -
MT5 - potentially the best trading and analytical platform in the world!- in Russian
https://www.mql5.com/ru/forum/204406
MQL5 vs QLUA - Why trading operations in MQL5 are up to 28 times faster? - the article
The Video from MQ: demonstration of the calculations on the GPU in MQL5 code and the graphics capabilities of the terminal
MQL5 speed test (compare with MQL4 and C++)
https://www.mql5.com/ru/forum/217992#comment_5943518 (in
Russian)
- 2017.01.21
- www.mql5.com
No wonder people stopped using version 3 when brokers stopped supporting it X-D D'oh! I'm afraid it's not the case here but nice try anyway.
:)
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Hi traders
I am quite old in stock market but newbie in automated trading, that means that i have no idea what software to pick and how to begin. Also i dont know anything about mql4 or 5 language.
So the one million dollar question for me is which one of mt4 or mt5 should i choose to my new career and why?
Take in consideration that i want to create rather simple robots that i have in mind, i am working with DAX mainly and i have a tiny experience creating EA in ancient metastock, in a tottaly different enviroment. Also i am a bit old in age so i dont absorb everything as i used to.. so simpler is better..
Could you please answer this?
All opinions welcomed!