I like a do-a-do the forex. I like a you a do-a-do the forex for me, so I get a richy-rich. To those dreaming of someone who'll code up a golden goose for them: either learn to code, learn to trade, or quit now. Laziness & inability does not create winning strategies. To those who think they have 'the' answer, and there's only 'one way' to do this: you're in for some surprises. I'm not being argumentative, I'm stating the facts. In time, you'll come to appreciate this. Success, at least in short term systems, is usually temporary. System failure is only a trend/volatility change away. Not wishing anyone bad, but this is the reality. It tooka me a long a time a do-a-do the forex. And sometimes the forex a do-a-do me back. Somewhere alonga the way, I geta the learnings.
I got MT4 and MT5 accounts. With MT4 there are more forex pairs and one can tweak up the open code when downloading. I think metaquotes is thinking of ditching MT4 though. MT5 uses C# which I don't know. I haven't yet found a profitable system in MT4. Most of those advertised are written by amateurs and don't work, at least in the scalping time frame I use - 5m. 1 trade a week is not for me. I made a profit on Zulu trade demo account when I traded using TA manually and not by using others.
I thought mt4 used C# like functions and mt5 was closer to C++ . Anyway, mt4 is much more popular and already has a strong userbase. mt5 was a 'failure' primarily because of zero backwards compatibility with mt4. MQ finally admitted this by making [forced] changes to mt4 to make it mt5-like. - Mt5 required complete re-write of mt4 custom indicators and/or expert advisors. This is a considerable time investment (and maybe money) for those that are not programmers. - Mt5 does not allow 3rd party data importing for backtesting. mt4 can actually (with tickstory/birt's tick data suite) support tick data backtesting with real tick data (dukascopy is free). - mt5 takes up more memory per instance. (120MB mt5 or so vs 20-40MB mt4) mt4 wasn't perfect, but it does have a lot going for it...including popularity. I think the next evolution in trading forex will be open systems. the MetaQuotes 'monopoly on trading platforms is untimately not healthy for either brokers or traders long-term. To ask whether a system 'works' or does not 'work' is dependent on how it is coded and how it works to speculate the market. I suspect the systems you were evaluating were blackbox systems. In regards to zulutrade, copying signals in itself its not so bad. But you run into a similar trap of blackbox trading in that you do not know how the signal provider is trading. So you do not know whether to weather the storm over a 'legitimate' [expected] drawdown or 'cut' the signal for dismal performance.
I quote from the author of a new MT5 programming book " Many new features have been added", He has also written a MT4 book, so should know.
What do you mean by the zulutrade being a blackbox? I think the stats are pretty useful and transparent when it comes to trading...and following it is all out there!
MT has sort of fallen between 2 stools. They really should do a lot more work on MT5 if they want it to totally eclipse MT4.
Well, i guess this is difficult as most of the traders use the MT4 and so does the platform support the trading with mt5. Regardless, how do you guys use zulutrade? Who are you following? Hope you all are winning,
ES, I agree with you in your interest in automated trading (especially forex with MetaTrader 4). I admit my journey has been slow and arduous, but the ultimate allure of easy money in my bank account has taken me six years (since 2008) to get where I am today. If only I knew then what I know now! Firstly, use backtests to work out the 1% worthwhile EAs (expert advisors) from the 99% of the not-so-good EAs. No EA is totally worthless crap, when you consider an intelligent programmer/trader has created it for an intended purpose (anyone that can program an EA is more intelligent than me! ). The EA that doesn't work as expected can be disfunctional because A) market behaviour has changed, B) errors in programming/logic. Once you find a promising EA using 90%+ modelling quality, forward test it on a demo account with all details as close to a real money account as possible (risk settings, account balance, etc.). Do this for at least a month (or until satisfied with your understanding of the EA's operation and performance) before you try it on a real money account. I have found a few gems out of the forums - the best are always free. Find an EA which suits your trading style and risk appetite. I like high frequency EAs which make many quick trades for small risk per trade. That is more exciting for me, but of course means more risk usually. Just remember to take the journey slowly and steadily. It is as much a search for a profitable EA as it is a journey of self-discovery. Trading is not only about making money - learn to enjoy the ride too.