Emotions when trading - page 64
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Yeah, first we need to attach a human brain to it, it's a question of creating artificial intelligence.
Very often robots (as well as humans) do not enter the market at the best moment.
MetaTrader 5 allows us to correct the mistake by adding lots and thus attracting the level of market entry closer to us. In order to jump out of the market when the bounce is convenient. And not with a minus, but with a plus. And not in months or years, but right in the near future.
It should be noted that if there is not enough money on the account - the robot will sell all the money (as well as a human).
MetaTrader 4 does not provide this possibility. And, if the market entry has been performed at some level, and the price is not going to fall back, the minus position will remain in the minus. And there is nothing to do with it (except make a long term position for months or years). I have watched the trading programs. Nothing new. Manners of trading are almost similar. All of them are breaking out of losses by adding lots (if using MT5). A simple summary can be drawn here. The person (trader) that is not the first year at the Market will trade the same way, except with emotions. After what I've seen - I would not entrust the money to a robot. This is suicide. It may trade successfully for a certain period of time. But one day the robot will sell the entire deposit. The conclusion is clear - you have to trade with your hands and head. There are no miracles. And there are no perfect robots.
And there is much more room for manoeuvre in mt4. And it is much more convenient to keep separate positions (mt4) than one where everything is piled up (mt5).
As already said - on MT4, your losing order may hang in the red forever (until you close it with a loss). And the large number of levels will make your eyes glaze over. And on longer timeframes all this will look like mush. Well, look at the screenshot of MT4 that I've cited:
Isn't it just mush? Yes, it's just a dump of orders that can even cause concentration to dissipate, which is similar to "Market Death"...
Which is not the case with MT5. Try it yourself at least on the demo. Manually open a position. Let it go into minus, and when the rebound happens - by adding lot volume bring the entry level closer to the current price. I think you will like the result.
This is one of the main reasons why I switched to MT5 and will never go back to MT4 trading.
Of course it's worth mentioning that "pulling" the level closer by adding lots is an extremely skillful job...
But... You want to become a professional, don't you?
Grab a more powerful cannon. Switch to MetaTrader 5.