MT4 or MT5 ?

Discussion in 'Automated Trading' started by Humpy, Nov 22, 2012.

  1. Humpy


    Does anybody think it is worth the hard slog of trying to learn MT4 or MT5 ? There are a lot of so called EAs but do any actually make a profit ?
  2. smaranam


    MT 4 is good for FX
  3. Most commercial EAs are written for MT4.
  4. there are several charting/order entry programs that allow auto trading. since I'm not
    a coder I've no idea which coding language each uses may be better or simpler than
    another. NinjaTrader is a popular program and MT4 indicators (and EAs ?) have been
    coverted to NT. NT offers some fx trading via GAIN and FXCM (others ?) but NT also
    offers CME Globex currency futures and some fx pairs futures for trading

    based on my belief that the Price Time Waves Movement is Irregular, one single auto
    system isn't going to work all the time. could/should one then have 2 or 3 accounts
    for different ea types in order to try and trade the irregularity of the price movement ?
    in a sense the different eas are hedges against ea #1 having a losing trade, ea # 2
    and/or ea #3 in theory trade profitably
  5. Mr_You


    First off I'm not trading live, but I am in the final stages of developing an automated breakout strategy that I will begin to trade live soon.

    My quick and dirty answer to your question is this. If you think discretionary trading is hard, evaluating and implementing automated trading strategies is much harder.

    I think trying to evaluate tens or hundreds of EAs is a waste or time. If you are passionate (a prerequisite IMO) about automated trading then I would suggest learning basic C#, reviewing the source code of example trading strategies, and using a wizard provided by your trading platform to help get you started. You should be able to do all of these in a few weekends. If not then maybe its not for you. And thats just the first step, you'll need to avoid certain trading methods and techniques to eliminate overly curve fitting or vague ideas that are difficult to automate.

    But don't expect to develop a profitable strategy in a few months. Its going to take a year or 3 of implementation and evaluation before you should feel confident in deploying your strategy with live money. It is very time consuming.
  6. Humpy


    Thanks guys for your comments.
    Sound sensible to me.