Having mastered the trade terminal and trading strategy, it's time to move on to further explore the possibilities of the trading platform MetaTrader4. This trading terminal, but a tool for the trader placing orders, provides an environment for the development of advisors and indicators with the help of MQL4. Ready-made scripts and programs can be immediately applied to the familiar charts of currency pairs.
Forex Expert Advisors - very handy program that can operate automatically, ie without the direct involvement of a trader, you need only have permanent access to the Internet. You can give an adviser to the entire deposit, or include it as a prompter, which will give signals to a set of criteria for indicators. Thus, a ready-made automatic trading system or forex advisor, who monitors the situation on the market in search of signals for opening or closing position and notify the trader at the time of receipt of the signal. The possibilities of MQL4 almost limitless in terms of trade. A trader with a basic knowledge of programming can independently encode the desired algorithm, which will be a good assistant in the conduct of trade. Ability to create your own advisors forex, indicators and scripts and offers to save considerable time, if trading decisions requires a lot of mathematical calculations or analysis used multiple charts on different time-frames.
In the terminal MetaTrader4 present basic Advisors Forex. They are very popular among traders and created more opportunities to demonstrate than for a serious trade. For example, the adviser looks Moving Average signals based on two indicators of MA (fast and slow). Its very easy to be configured to automatically work with the necessary parameters. Also present are the basic scripts, as a floating stop-loss, which is an indispensable thing, when you often have to absent themselves from the workplace. This program moves the level of stop-loss, once the price is removed for a distance of a specified number of points from the opening price warrants.
Such rosy prospects as the possibility of automated trading (Forex and advisers from the parts were intended for precisely this purpose) reduces the question about the human factor and the presence of the trader at the terminal to almost zero. And all is good, but there are negatives, and quite substantial. First, the errors in the code allow for even professionals, which may adversely affect the balance sheet. Secondly, some advisers Forex can not give the desired results, you can adjust the optimization, ie selecting the best parameters for the indicator. But optimization can, eventually, to give many false signals when the market will change its trend-established or go to the lateral motion. And, thirdly, if the trading strategy is based on a set of short-term transactions, problems may arise with the broker up to disable the use of automated trading.
Forex Expert Advisors - the irreplaceable assistant trader, but need to be used wisely. It is better not to trust your balance program, if doubts about its efficiency is not fully eliminated, and even otherwise, is it safe once again - you check the system on a demo account or on the history of any currency pair.
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