MT4 doesn't have long to live - page 57
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
I think MT5 will at best be a failed platform generation similar to Microsoft's Vista.
At worst it will be the end of the Metatrader era.
The developers made a number of strategic mistakes, putting the interests of the broker above the interests of the end users on which the popularity of the platform was built.
If there are no end-users, there will be no brokers to use it.
I think MT5 will at best be a failed platform generation similar to Microsoft's Vista.
Disagree. MT5 is the best retail solution - so far...
Everything is convenient, well thought out. Intuitive.
But as always, you want perfect! ;)
Compare it with competitive products, see that most of them are BUY/SELL "one-armed bandits".
There is no normal indicators base, conventional services, etc.
Trade on these products!
Then we will talk.
Trade on these products!
We'll talk then.
like "Work on Linux and MAC, then we'll talk" about the failed Vista.
OnGoing:
The developers made a number of strategic mistakes, putting the interests of the broker ahead of the end-users on which the popularity of the platform was built.
This is where your key mistake lies. The interests of so-called kitchen brokers, on which there is no control as they are not regulated by anyone, were protected on MT4.
MT5 is already certified on some exchange trading platforms, where the interests of both traders and brokers are legally regulated.
Accordingly, MT5 provides an opportunity for normal traders, both to go to the real exchange trading, and to real investors, that is, without having to change the platform, instead of picking pocket change on cent accounts and every time worrying that the kitchens will not return even their honestly earned cents, or will put things in the wheel if someone is earning, guided by some unbridled self-made regulations.
It would be a strategic mistake to keep relying on semi-underground kitchens and their customers, the contingent of which is mostly schoolboys and addicts, because the law is getting tougher and sooner or later these same kitchens will be equated to bookmakers, and the kitchen-oriented "trading" platforms to one-armed bandits.
So MetaQuotes, at least, hedged their risks by making a platform simultaneously suitable for both kitchens and for real exchanges. And the trader will choose where it is better.
On top of that, the company has a chance to draw some traders from the competitors to its side, because MT5 has a very good functionality. Brokers always focus on traders and, accordingly, will switch to MT5 faster.
So far the only strategic mistake made by Renat is claiming in his announcements that MT5 has unlimited possibilities and that the terminal can run almost any monster-like application. However, when traders start using the platform it turns out that in fact many opportunities, including those that are extremely necessary for trading, are limited or even crude for trading. So users, of course, ask developers to remove limitations or expand functions. This is where the nastiness starts. Renat, who has previously claimed that the platform is limitless, takes a stance and says that everyone is an idiot, but he is the smart one. There is no dialogue whatsoever. In this situation, a lot of dissatisfied and disappointed people prefer to go back to MT4, where at least most of it is workable and not demanding in terms of computing resources.
Let us try to equalize the linguistic differences between MQL4 and MQL5. Let us assume that the entire strategy logic is written in one language - C++. You use MT4 and MT5 only as a trading API - you can call various functions of the trading environment, history, etc. from your program with the same results, as you would do in MQL4 and MQL5. In other words, you can fully work with all trading functionality of the fourth and fifth languages: OrderSend, HistoryDeal, CopyRates, etc.
This is just the method that equalizes the linguistic differences between MQL4 and MQL5. It's clear that MQL5, as a language, is a bit higher than MQL4. But we consider the example above, in order to assess the ease of operation not linguistically, but rather in terms of trading.
So, we have presented everything as described. Which trading API would be more convenient to trade with, MT5 or MT4? Your opinion. I have given my opinion:
But which one is more comfortable and reliable? Not with theoretical reasoning, but with real market practice.
More convenient than MT4. Yes, one Limit order may affect a dozen open positions because of partial execution, and each position may affect a dozen closed positions. But what if there are several Limit orders? Is it possible to manage in MT4 under such strict conditions? Yes, it is possible and it is implemented in a simple and reliable way.
MT5 does not have any problem with it either. At first glance, it's even easier to navigate than MT4. You won't be confused by the sheer quantity of positions.
But everything changes when you start to complicate the EA's logic. When you need to diversify by running multiple EAs. On MT4 it's elementary and very reliable - just run an EA with other majiks. On MT5 it's a huge hassle from an automation point of view. And in terms of manual intervention in such a trade - it's an impossible task. Because the logic of opening-closingpositions for each strategy in the MT5 terminal is impossible to grasp simply by looking into the terminal. You need to write a proper analyzer. And it cannot be universal, unfortunately.
However, in MT4 there are no such problems. Everything is right in the palm of your hand. Netting in MT4 is implemented in the easiest way for a trader.
This is why MT4 is always more convenient than MT5 in real trading practice and not at the theory level. Although both platforms can be absolutely market driven. And it's the MARKET trading I'm talking about.
So, MetaQuotes has at least hedged its risks by making the platform suitable for both kitchens and real exchanges at the same time. And it is up to the trader to choose where it is best.
As MT5 has quite good functionality.
I want to be clear - procedural functionality with which almost anything can be programmed. But programmable.
This is not the way they have been working for 30 years in applied programming. Metaquotes are system developers and for them procedural functionality is above all, that is all they praise. I wrote several times in this thread, but Renat didn't answer the question: how does this unusual functionality correlate with the TS's profit? My answer is no. Moving from MT4 to MT5 will not add a cent to the profit, but it will eat a lot of time for the users who do not speak any procedural language like C.
Let's remember the most primitive Fortran, which is not even worth mentioning on this site. But what rich libraries there were! Here it is claimed that a means for TC development is provided, but we must immediately specify the procedural means and ready blocks are simply absent. And this is on the assumption that there are other, open systems and primitive enough concerns to include them in MT5. This is not done, nor is it done deliberately after thinking through the business idea.
For example, your favourite NS. In the STATISTICS package the NS is an integral part, one with the rest of the statistical suite. And despite the fact that NS has nothing to do with statistics.
Absolutely no one is preventing the creation of MT5 (and MT4) bundles with EViews, Statistica, Matlab, etc. To require a trading platform to replace these packages is absurd.
Here we are in favour of improving the MT5, but within reasonable limits. At the moment MT5 is a fully fledged trading platform, as it has all the functionality to trade. The tester is an extra infra-structure which might not be there like in most trading platforms. Another thing is whether this tester is convenient, now that it is there? Is it convenient to trade in MT5 (instead of programming) with automatons and semi-automats?