This is my first post on here in a while, I have recently been looking into EA’s. I have watched several x youtube videos and a few basic how to’ blogs and articles.
The problem is I have a way I want the platform to work specifically, if it cant do that then there is not much point in me spending a lot of time figuring it all out. That being said any help would be much appreciated.
Basically, I don’t want a fully automated trader I want to ultimately make the decision to trade.
What I would like to happen though is to make multiple trades based on my initial decision.
Example:/
I believe gold prices will fall, I want to make a sell trade on gold. As AUD is correlated so strongly with gold I also want to make a sell trade on AUD, As NZD is closely correlated with AUD I also want to make a sell trade on NZD.
Am I able to make an EA that I can programme where if I make that first trade it will automatically place all the other trades on that specific list?
So instead of me having to manually input 10/12 trades I can input one and the others are done for me.
Thanks and I look forward to hearing form you
(If this has been mentioned previously forgive me but I did look and couldn’t find anything)
Yes it can be done very easily. You can have a script that retrieves your list of open trades and get the comments assigned to each trade. When you place that “trigger” trade, give it an unique comment like “start correlation script”. If the comment matches the comment your script is looking for it can then make all the trades you wanted automatically.
That is really good news! Thankyou, can you recommend any good websites to make an EA like this? I have very little experience in programming so i’m expecting a pretty steep learning curve. Would it be better to make it for mt4 or mt5?
Those online EA builders all suck (no offense), none of them are very flexible and prone to bugs. The generated code is heavy and runs slow; I wouldn’t recommend them to anybody although I see many people going that route. I haven’t seen those websites in a while so maybe they have improved.
If you want to go the automated trading road, you should probably start learning some programming. You won’t get very far without it. I believe MT4 uses C so that might be a good place to start.
I haven’t touched MT4 or MT5 in a couple years, but I assume MT4 is still the industry standard as MT5 has not been widely accepted.
EA builders are like CMS for websites. A little bit heavy, a little bit limited, but if you want to try some normal strategy, you can do it much faster than actually programming it.
MQL4 has now all the power of MQL5 and it still allows you to use the old functions. So it’s still suitable for newbies. It is also OOP now, but for someone that does not how to program, learning and using the OOP concept will be difficult.
I have done some pretty complicated eas with fxdreema builder, including multi-currency ones. As for mt4/m5 I would choose mt5 to build and improve the ea, because mt5 has better testing options. When the ea is ready you can always make it again in mt4
Thank you for the tips, I have looked at several free Ea builders and few that cost anything from 100 to 1000 +.
MT4 have their own manual that teaches you basic scripting so i’ve been studying that for the last few days.
Currently I have been using Mt4 as many people I ask consider it to still be in ‘Industry standard’ and it was the one I used when I used to practice on demo accounts several years ago.
On fxDreema is it possible to allow one trade to trigger several pre-orders? Ive looked over the website but Ive not really found an answer, is it worth sending them an e-mail and asking?
