How to Start with Metatrader 5 - page 68

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How to prepare MT4 for backtesting/trading with some pair:

Forum on trading, automated trading systems and testing trading strategies

MT4 History data generation

Sergey Golubev, 2016.05.28 10:58

It is about what I am doing when I want to backtest/check/trade using some pair for example:

1. I open MT4.

2. Open USDJPY H1 chart (if I want to do something with this pair).

3. Go to Tools - History Center, find this pair and double mouse click on every pair's timeframe so

before double-mouse click on every timeframe there:


after:


So, by this action - I downloaded the history for this pair to MT4.

4. Now I want to transfer this history to the chart (to trade, for backtesting, and so on).

So, I change timeframe for USDJPY chart to M1, right mouse click on any space of the chart and choose 'Refresh', and all history is loaded to the chart - and I can see it from the Journal about how many bars were loaded from my MT4 History Center to this chart:


Same with M5 timeframe (Refresh), same with M15 and so on up to MN.

----

After that only I will backtesting/trading or whatsoever anything with this pair (USDJPY in our example).

Just my experience


As to MT5 so we do not need to do anything related to above mention actions: the history is automatically loaded to the chart in case we are using Metatrader 5.

 

Forum on trading, automated trading systems and testing trading strategies

How to Start with Metatrader 5

Sergey Golubev, 2013.08.13 18:50

Good article, and for now - this article was translated to Chinese language (together with the iother 3 articles related to Job, Market etc) :

A Few Tips for First-Time Customers


 

Just really useful article (with video):

Calculator of signals

"The most frequent question that subscribers tend to ask is: "Will I be able to subscribe to the NNN signal, and what position volume will be copied to my trading account?". This article will help to create the calculator of signals  — a great assistant for those who wish to subscribe to signals. A brief manual for using the calculator of signals is also provided in this article."
 

5-digit or 4-digit :

Forum on trading, automated trading systems and testing trading strategies

Trailer stop metatrader issue

Sergey Golubev, 2014.10.20 09:57

It depends on which broker: 4 digit (price) or 5 digit.

Example:

1.27631 - 1.27471 = 160 points or 16 pips

1.2763 - 1.2747 = 16 points or 16 pips

Just open the chart (EURUSD for example) to see: you have 4 digit price on the chart or 5 digit

Forum on trading, automated trading systems and testing trading strategies

points == pips?

Sergey Golubev, 2013.07.13 13:12

  • for example (in case of 5 digit broker): buy at 1,30305 and take profit at 1.30605. Profit is 30 pips, or 300 points.
  • the other example (in case of 4 digit broker): buy at 1,3030 and take profit at 1.3060. Profit is 30 pips, or 30 points.

pips = points in case of 4 digit broker, and 1 pip = 10 points in case of 5 digit broker ... some people say that we will have 6 digit brokers soon :) who knows ...

Many traders are using pips (4 digit points) irrespective of how many digits are having the broker at the price.

How are transactions copied if the Provider has 4-digit quotes for a Symbol and the Subscriber has 5-digit quotes for the same Symbol or vice verse?
All transactions copied to the Subscriber's account are executed at current market prices considering the deviation set in the terminal settings and contract specification of the given symbol. Thus when copying deals the number of digits doesn't matter.

Frequently Asked Questions about the Signals service
Frequently Asked Questions about the Signals service
  • reviews: 5
  • www.mql5.com
Discover in 15 Minutes: Watch the Video about Trading Signals in MetaTrader 4 and MetaTrader 5 The most frequently asked questions related to the...
 

Forum on trading, automated trading systems and testing trading strategies

Press review

Sergey Golubev, 2014.06.20 16:51

How to Develop Forex Trading Skills


Foreign exchange is the most liquid financial market because it involves trading currencies on a global level. It includes individuals, banks, corporations and governments, and is not solely for investment. News at the national level directly impacts the currencies, and it takes some time to develop Forex skills on the technical and fundamental level. However, if you intend to trade in the Forex market, it is important to gain a strong understanding of these skills. The amount of leverage used in Forex trading can create large losses off one mistake.

Step 1

Find a broker that offers a practice account. Even before depositing money, make sure you check fee structures and other requirements because you do not want to practice on an interface you will exclude later due to high fees. Also, decide if you want a U.S. firm that offers a maximum of 20:1 leverage, or an international firm that can offer up to 500:1 leverage. That means you can get $20 of trading power for every $1 deposited, or $500 for ever $1 respectively.

Step 2

Open a paper trading account with the amount of leverage you want to use. If you are using an international account, only use 500:1 if you plan on using that amount of leverage for real. Also, set your starting cash to what you would use.

Step 3

Get used to the interface and the tools available, as they can differ greatly from what a stock trader would be used to, or even a different Forex brokerage. Knowing how to place the correct orders quickly is critical.

Step 4

While getting used to the interface, read books and articles that discuss Forex strategies, then try them out on a practice account. Do not just finish the book and move on to the next one. Familiarize yourself with the material you are reading.

Step 5

Familiarize yourself with both the fundamental and technical aspects of trading. The technical analysis in Forex is similar to stocks. The fundamental side is trickier because you are analyzing each country in a Forex pair because all trades in Forex involve the relative value between two currencies, such as the U.S. dollar vs. the euro. Also, the global economy weighs on both countries, and you have to decide the effect on each, then compare them relative to one another. Focusing on only one side of trading like some people do in stocks is less effective in the Forex market due to its scale and the volatility that comes with leverage. You cannot choose just technical analysis or just fundamental analysis because both have significant short-term and long-term impacts.

Step 6

Get used to the trading schedule because the Forex market is a global market, and is open 24 hours a day, five days a week. In the U.S., that runs from Sunday night to Friday, with deviations depending on your specific location. Trade your paper account as realistically as you would your real money. You do not want to be away from your computer when you have open positions unless you are using a long-term strategy with a significant cushion of cash free in your account to absorb drawdowns, which are declines in value of your account that could trigger a margin call. In Forex, a margin call will liquidate your positions right away if your account value drops fast enough unless you can deposit money right away.

Step 7

Once you can handle the schedule and the difficulty of profitably trading foreign exchange, you can deposit money and start trading for real. Practicing with a paper account is critical for skills-building because learning by doing is the most effective way to learn. Eventually, real money must be used to learn proper money management and hone your skills further.

Tips

High leverage is tempting, but less leverage can create a better trading environment with less account volatility. Using 10:1 leverage is usually enough.

Warnings

The high amount of leverage available in Forex trading is a benefit and a curse. Gains can come quickly, but so can losses; volatility is magnified, with small movements in the currency amounting to large gains or losses.
Most people who get into Forex trading blow a couple of accounts, which means you lose all the money you deposited.

 

Forum on trading, automated trading systems and testing trading strategies

Forum Rules

JD4, 2015.07.03 20:12

I thought it would be helpful to have an easy to find spot to see what the rules are on this forum, because there has been some confusion with them before (from me for sure, possibly with other people as well).

(copied from https://www.mql5.com/en/about/rules)

Rules

  1. Please be polite when communicating on this website. Refrain from statements that may offend or insult other users.
  2. Negative discussions of any banking, brokerage and other financial institutions are not allowed.
  3. Any discussions about personal relations between the community members are not tolerated.
  4. Coarse language, advertising messages, spamming and flooding are forbidden.
  5. Repeated violation of the Rules, ignoring moderator's remarks and open disrespect for the website Administration will lead to an account termination.
  6. The website Administration may implement any changes to the Rules it deems necessary.

Hopefully this helps everyone out.


 
Sergey Golubev:

I want for my first EA to be profitable. I understand that I do not understand anything ... especially - what is the condition to open the trade? My first EA's article (see previous post) is not explaining it ... I think - I will know about it later, no problem. 

So, I need to optimize the settings for my first EA. I opened strategy tester in MT5 and selected the following:

- period for one year;
- EURUSD, H4
- Forward: No
- Execution: Normal - every tick
- Deposit: 1000
- Optimization: fast generic based algorithm; Balance + max Sharpe Ration

And I pressed 'Start' buttom.

It took me almost 7 or 10 hours ... After optimizatrion was finished so I selected the best settings (using 'Optimization results' tab), double click on that, backtested with new settings. After that - I used 'Input' tab to save the settings onto my MT5 directory.
 

Your advice is very helpful. Thank you very much. I am learning greatly from your coach.

How to change my EA at MetaEditor in order to reflect the result of optimizing?

Is it done automatically? 

 
Chang Suk Chung:

Your advice is very helpful. Thank you very much. I am learning greatly from your coach.

How to change my EA at MetaEditor in order to reflect the result of optimizing?

Is it done automatically? 

We are optimizing the EA to find more good/profitable/less risky etc parameters for this EA. So, after optimization - we can insert the optimized figures in the EA to be default one.
 

Forum on trading, automated trading systems and testing trading strategies

question about security in metatrader

Sergey Golubev, 2016.05.31 14:23

MetaTrader 5 Help - Extended Authentication

The trading platform provides an option of extended authentication using SSL certificates, which greatly increases the safety of the system. The extended authentication can be enabled on the server. When it is enabled, the standard authentication is still active. In any case, users need to enter their account details.

  • The authorization algorithm is generally accepted and secure. It is fully analogous to the SSL authentication.
  • Connection between the client and server is established over a custom protocol with the encryption of all data transmitted.
  • A public key can be freely distributed and used to verify the message signed using the secret key. It is guaranteed, that knowing a public key, it is impossible to compute the secret key within a reasonable time. The calculation of a secret key based on a public one, even on powerful modern computers, can take tens or even hundreds of years.

 

Forum on trading, automated trading systems and testing trading strategies

How to Start with Metatrader 5

Sergey Golubev, 2013.01.11 14:36

Well ... the key article about MT5 ias this one (my opinion sorry):

MetaTrader 5 - More Than You Can Imagine! 

Do not look at the title of this article - seems - the title is promotional one.
I am talking about content - content is really great and there are a lot of good links inside this article.
So, basicly - I started with this one.

Later on - I can describe about what I like, what I do not like, and what I do not understand sorry.

Just for example - I really like this feature - moving sl/tp by mouse on the chart
 

I am trading almost in every day so it is what I like: stop loss/take profit may be moved by mouse as the lines on the chart.

About programming - I personally was stucked with icustom ... you know that for MT4 - it may be really issue: if indicator was based on 3 other indicators and one of them is based on 2 others so ...



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