MT4 Auto Trading Question - Requesting Help

[Guest davidbrister]

Hi there, im new to MT4, but not new to the stock market or CFD trading.

I have downloaded MT4 with a live and a demo account setup.

Having seen the video below, which references MT5, how do you create the same robot in MT4 please? as it seems IG dont use MT5.

the help files are very vague on how to actual set up or create stuff, i can see the Auto trade button, i did assign a default Expert Advisor to a chart and the turned on Auto trade, but nothing has happened so far, is some one able to help me please make more sense of what seems a very powerful tool if i can understand it better?

Thanks

DJ  

 

[Caseynotes]

Hi @davidbrister,  the code for mt5 is completely different to mt4 so indicators and EAs are not transferable.

You will need to select an existing mt4 EA (free or paid) from the Metaquotes web site (for all things mt4 or 5), see https://www.mql5.com/en/market/mt4  or look to create your own, see video below.

 

[Guest davidbrister]

Hey thanks for that!

[Guest Jason]

Hi David, 

Agree with Cassy. 

Also, note for newbie. Automatic trading can be surprisingly different to manual trading. The computer will consider every tiny detail that often the human eye will miss or we choose to zone out and ignore. The computer wl only ignore something if you program it too. 

Automated trading is a fantastic aprrouch to the market but it takes time to learn the differencees and get used to it. Use a demo account until you are 100% comfortable you understand it.  I 

Good luck 😊