A trader who has a proven profitable strategy can make it easier for himself to make a profit. For this, there are trading automation algorithms: the strategy is transferred to the program code and robots or advisers are created that open deals without human intervention or significantly reduce the time for analysis by finding and highlighting the trading signal. Let’s talk in more detail about how autotrading works in the mt4 platform for windows.
How is auto trading organized in Metatrader 4?
Automated trading is making money on the stock exchange with the help of robots. On the one hand, it potentially improves the results, on the other hand, it requires the necessary knowledge and skills. Autotrading mt4 is used in the foreign exchange market, commodity assets and CFDs on shares – these are the instruments that are traded in the specified trading terminal through forex brokers.
The benefits of this approach are that the robot or adviser acts on the basis of the algorithm underlying them. They are devoid of emotions, fear, doubt and greed, therefore, when a trading signal appears, they open a deal.
If a trader has a simple strategy that has proven effectiveness, understandable criteria for a trading signal and an exit from a trade, then metatrader autotrading can simplify trading. However, it is important to know when and under what market conditions an algorithm can fail. In this case, the robot periodically pauses, for example, at the time of the release of important news, in order to avoid false entries on a surge in volatility.
Against this background, it is important for developers not only to create and launch a robot, but also to monitor and analyse its work. This will allow you to adapt it to changing market conditions, noticing the deterioration of statistics in time.
Where can I get a robot for auto trading in Metatrader 4?
The website of the Metatrader 4 trading platform has a section dedicated to the creation of robots and advisors. By following these instructions, you can create them yourself using the list of tools.
The automated trading ecosystem consists of the following elements:
- Metatrader 4 is a trading terminal, a platform for writing robots. The creators have built in the environment for creating Expert Advisors – MQL4 IDE;
- Metaquotes Language or MQL4 is the programming language in which the code for the robot is created;
- Metaeditor is used to edit and compile Expert Advisors;
- strategy tester – a market simulator where you can quickly test the robot on historical quotes.
After writing and testing the robot, you can first use it on a demo account to confirm the profitability. After that, you can start auto trading with real money.
For those who have little market knowledge, it’s recommended to start not with robots, but with learning the basics of trading, for example, technical analysis.
