Questions from Beginners MQL4 MT4 MetaTrader 4 - page 261

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dave goff #: so i have a live account and i am trying to trade what is the minimum amount needed for the market to be opened on my account so i can actually trade and start making some profits 

That is the wrong question to ask. First invest in learning to trade properly by educating yourself and practising with a demo account (paper trading). If you do that first, you will no longer need to ask that question.

Forum on trading, automated trading systems and testing trading strategies

I had 4 open "sell" orders on MetaTrader4 Android App but they disappeared! I've lost all my money! Help!

Fernando Carreiro, 2022.07.31 14:17

Before trading anything, please first learn the basics of trading and about risk management by paper trading (i.e. "demo account").

What happened was that you placed your trades based only on the required margin, but did not calculate your required risk of price movements into loss (i.e. stop-loss risk).

So when the trade went into the red, it reduced your free margin and got stopped out. All brokers have a call out and a stop out limit. If you violate stop out limit, all trades are closed.

You lost all your money, not because it "sucks", but because you did not invest in your trading education first.

On a side note, please also read the following ...

Forum on trading, automated trading systems and testing trading strategies

Tips to avoid being scammed …

Fernando Carreiro, 2022.06.07 14:40

Be it by fake agents, brokers, signals, or EAs, there is one weapon to beat them all — knowledge! Your knowledge is the key to prevent you from being scammed.

Invest and take time to improve your knowledge, to gain experience and improve your skills. Learn to do things for yourself and not to rely on others so much. You don’t have to be a master or even be very good at it, but the more you know and understand, the easier it will be for you to detect when something is not what it seems to be.

Learn how brokers work and how they are licensed and regulated. Learn about the different markets, trading conditions, types of accounts, leverage, and when you don’t understand something, ask first about it and get answers from different sources. Don’t just blindly accept things.

Learn to trade manually, even if you intend to use signals or EAs. You don’t have to be very good at it, but you need to understand all the different concepts of how orders are placed, how they are triggered, how to manage them, how to calculate and manage your risk, and all those pesky little details required to trade manually. Only then can you better evaluate the signals you wish to follow or the EAs you wish to use.

If you are going to hire someone to code your EA for you, then take some time to understand how coding works and some basic knowledge about it. Again, you don’t have to be good at it, but the more you understand, the easier it will be for you to communicate with the developer and provide valid, realistic requirement specifications and to understand how much work is involved as well as its value and how much to budget.

Also, learn to use the Strategy Tester properly and how to interpret the results. The better you understand it, and the more you use it, the easier it will be for you to evaluate the results from EAs you are considering.

So, in conclusion, don’t be a greedy idiot quick to jump onto anything “shiny”. Instead, be wise. Take your time. Invest in your knowledge and skills. Choose carefully.

 

Hi everyone 

I'm trying to create a button that works exactly like when I click on rectangle Tool on Tools bar. Meaning I don't want it to create a rectangle by just clicking the button, I'm not gonna use Objectcreate() function.

Instead, I want it to wait for the user to push the mouse button on chart and drag it to create a rectangle. Just like when you choose the rectangle tool and the cursor-shape changes.

I've looked the WndObj.mqh, Wnd.mqh and Rect.mqh and couldn't figure it out how does this work. I appreciate if anyone can tell me how to do it.


 

I have been working in strategy tester mode with my Expert Advisor that alerts for buy/sell signals and one of its functionalities is it creates a csv file so it can save the date of the signal so it knows where it last left off. In the strategy tester the csv file it creates is saved in one of the mql4 files folder and it works fine. Now I would like to run this EA 24/7 on a virtual server but because it creates and uses an external csv file, will this technique work in the the virtual server? Or could I just have a csv file stored within the EA itself?  One solution would be to have my own physical server but my internet connection is not reliable. Here's my code for the csv file creation.

   string mySpreadSheet = "spreadsheet.csv";
   int mySpreadsheetHandle = FileOpen(mySpreadSheet,FILE_READ|FILE_WRITE|FILE_CSV|FILE_ANSI);
   FileSeek(mySpreadsheetHandle, 0, SEEK_END);
   FileWrite(mySpreadsheetHandle,data);
   FileClose(mySpreadsheetHandle);



 
Programming -Learner's #:

I have been working in strategy tester mode with my Expert Advisor that alerts for buy/sell signals and one of its functionalities is it creates a csv file so it can save the date of the signal so it knows where it last left off. In the strategy tester the csv file it creates is saved in one of the mql4 files folder and it works fine. Now I would like to run this EA 24/7 on a virtual server but because it creates and uses an external csv file, will this technique work in the the virtual server? Or could I just have a csv file stored within the EA itself?  One solution would be to have my own physical server but my internet connection is not reliable. Here's my code for the csv file creation.



With MT4 VPS, I understand when you sync with your PC it overwrites files and the same with global variables. 

I'd be looking for another solution than relying on writing to a file, but then I don't know your EA logic.

 

hi, im new and using MT4 v4.1356. would like to ask how we could add RSI Indicator with a Input Value of 1. The indicator will close itself whenever i click OK. It is working fine if I key-in other value beside 1.

thanks,

 
aboka #: hi, im new and using MT4 v4.1356. would like to ask how we could add RSI Indicator with a Input Value of 1. The indicator will close itself whenever i click OK. It is working fine if I key-in other value beside 1.

Why? Mathematically that would not make sense. Even if we still calculated the diference between one candle and the previous one, it would make it swing between 0 and 100 with the direction of the candle — up (100) when the candle is up, and down (0) when the candle is down. That would be useless.

 
Fernando Carreiro #:

Why? Mathematically that would not make sense. Even if we still calculated the diference between one candle and the previous one, it would make it swing between 0 and 100 with the direction of the candle — up (100) when the candle is up, and down (0) when the candle is down. That would be useless.

hi, im new to all this. saw a video online that use 1, so i thought would like to set it up and see how it works out.

i could use 1 on MT4 apps on my Android phone thou. but would prefer MT4 program on my pc as could view multi-windows. any suggestions? thank you.

 
aboka #:hi, im new to all this. saw a video online that use 1, so i thought would like to set it up and see how it works out. i could use 1 on MT4 apps on my Android phone thou. but would prefer MT4 program on my pc as could view multi-windows. any suggestions? thank you.

Such a video is just "snake oil". Most trading videos are by "fake traders" that don't really trade for a living and instead make money from selling "trading tutorials". They are a waste of time.

Dedicate your efforts into learning proper trading. Learn your ABC of trading basics and slowly work your way up. Also learn the maths behind Indicators so you can understand how they work and how they can be used properly.

Forget RSI(1). It is stupid. You can already see if the candle is going up or down. You don't need RSI(1) to know that.

Also read the following ...

Forum on trading, automated trading systems and testing trading strategies

Tips to avoid being scammed …

Fernando Carreiro, 2022.06.07 14:40

Be it by fake agents, brokers, signals, or EAs, there is one weapon to beat them all — knowledge! Your knowledge is the key to prevent you from being scammed.

Invest and take time to improve your knowledge, to gain experience and improve your skills. Learn to do things for yourself and not to rely on others so much. You don’t have to be a master or even be very good at it, but the more you know and understand, the easier it will be for you to detect when something is not what it seems to be.

Learn how brokers work and how they are licensed and regulated. Learn about the different markets, trading conditions, types of accounts, leverage, and when you don’t understand something, ask first about it and get answers from different sources. Don’t just blindly accept things.

Learn to trade manually, even if you intend to use signals or EAs. You don’t have to be very good at it, but you need to understand all the different concepts of how orders are placed, how they are triggered, how to manage them, how to calculate and manage your risk, and all those pesky little details required to trade manually. Only then can you better evaluate the signals you wish to follow or the EAs you wish to use.

If you are going to hire someone to code your EA for you, then take some time to understand how coding works and some basic knowledge about it. Again, you don’t have to be good at it, but the more you understand, the easier it will be for you to communicate with the developer and provide valid, realistic requirement specifications and to understand how much work is involved as well as its value and how much to budget.

Also, learn to use the Strategy Tester properly and how to interpret the results. The better you understand it, and the more you use it, the easier it will be for you to evaluate the results from EAs you are considering.

So, in conclusion, don’t be a greedy idiot quick to jump onto anything “shiny”. Instead, be wise. Take your time. Invest in your knowledge and skills. Choose carefully.

 
Fernando Carreiro #:

Such a video is just "snake oil". Most trading videos are by "fake traders" that don't really trade for a living and instead make money from selling "trading tutorials". They are a waste of time.

Dedicate your efforts into learning proper trading. Learn your ABC of trading basics and slowly work your way up. Also learn the maths behind Indicators so you can understand how they work and how they can be used properly.

Forget RSI(1). It is stupid. You can already see if the candle is going up or down. You don't need RSI(1) to know that.

Also read the following ...

hi, i do know there are lotsa spam/fakes in the market. i jus like to see how it works by doing back-test etc using the exact setup. there is no down-side as im not paying for the system, or trading live. worst is losing some times. but even that, i learn something thats not working.

although not an answer to the question, i thank you for your time and detail explanation. especially about learning how each indicator works. cheers :)

 
aboka #: hi, i do know there are lotsa spam/fakes in the market. i jus like to see how it works by doing back-test etc using the exact setup. there is no down-side as im not paying for the system, or trading live. worst is losing some times. but even that, i learn something thats not working. although not an answer to the question, i thank you for your time and detail explanation. especially about learning how each indicator works. cheers :)

As I have already, RSI(1) is the same as the candle going up or down. Is it that difficult to look at a candle to see if it is up or down?

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