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An expert adviser is simply a program which can execute any task it's instructed to do without any direct human involvement required.
They allow the user to automate the trading and analytical process on a given platform such as MT4.If trying to make an EA one needs to use an editor such as Meta Editor on the MT4 terminal. Then the user gives a set of instructions to the program to execute under certain conditions, it can be user to execute multiple trades in seconds or perform analytical process on any given feed/information given on the MT4 platform.
Why EAs are popular and used?
Quick to open positions and react to market volatility:
With so many instruments available to trade and so much analysis to do, humans can not make time for the analysis of the market and cannot open multiple positions to avail all the intraday opportunities in the market. While an EA can analyze a greater number of instruments to make truly a diverse portfolio and react to market volatility much faster.
EA strategies can be back tested:
The set of instructions or the strategy that you code in the EA can be back tested to ensure that it's delivering the results wanted by the developer.
No Emotions to hamper potential profits:
Emotions and psycology plays an important role when the trade goes the wrong way. One of the many benefits of an EA is that it has no emotions as compared to humans and can open close trades based on the parameters given and respond with risk management protocols if trades go wrong.
No rest needed :
Unlike humans the EA doesn't need to eat, sleep, drop kids to school or go to work etc. They start compiling the instruction set whenever the program/EA is executed. It can perform market analysis all the time without break and open trades when there are more potential opportunities in the market which the human trader might be missing because of his busy life.
However traders should be aware of the risks involved with using an EA. There are many good ones giving a substantial return over investment per anum but many of the ones which claim astronomical returns might turn out to be fraudulent. If these astronomical returns were that easy to get using EAs then all banks and hedge funds would just put their money with the EA and the world would be a much richer place :D
While checking for EAs to buy be sure to check their history , user reviews and back tested data before risking your investment. Remember many unethical brokers make fake historical trade data which these fraudulent EA developers market online and entice clients with huge returns.
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If you’re looking for Free Forex Historical Data, you’re in the right place! Here, you’ll be able to find free forex historical data ready to be imported into your favorite application like MetaTrader, NinjaTrader, MetaStock or any other trading platform.. Since the data is delivered in .CSV format (comma separated values), you can use it in any almost any application that allows you to ... Platform Tech / Reply to Thread; Subscribe; 1; Attachments: Exporting historical data from mt4. Exit Attachments . Exporting historical data from mt4 Post # 1; Quote; First Post: Mar 30, 2019 9:56pm Mar 30, 2019 9:56pm xoxo12 Joined May 2014 Status: Member 133 Posts. Does anyone have a working indicator/script/ea that can export all historical data at once. Post # 2; Quote; Mar 31, 2019 ... Alpari doesn’t share their databank anymore except through the MT4 platform. Currently, I download via Dukascopy’s JForex terminal and convert the data – that gets 99% quality, but MT4 history centre download would be more convenient, even if worth 9% less. Via the history centre, is it only 1min and not tick data? Reply This platform allows the usage of M1 (1 Minute Bar) Data only. These files are well suited for backtesting trading strategies under MetaTrader 4 and MetaTrader 5 platform. Please, select: M1 (1 Minute Bar) Data. Generic ASCII. For generic use, this format allows importing M1 (1 Minute Bar) Data into any 3rd application. Please, select: MT4 Historical Data Alternative. If you aren't able to get enough historical data for MT4 from the default MT4 provider, you can always download data from a third party. Once you get a third party file, simply use the Import button inside History Center. We recommend using this data service for 3rd party MT4 data. Step 2: From MT4: "Tools — History Center" or by pressing F2: Step 3: Select forex and select the correct symbol according to your requirements. Choose 1 Minute: Step 4: Select Import, click browse and choose your file location, select the data file and click ok once the data is displayed in the window. Your Ydix MT4 is now updated. Download the advanced forex trading platform, MetaTrader 4, at FOREX.com. Try it for free with our free demo trading account. MetaTrader 4 is a platform for trading Forex, analyzing financial markets and using Expert Advisors. Mobile trading, Trading Signals and the Market are the integral parts of MetaTrader 4 that enhance your Forex trading experience. Millions of traders with a wide range of needs choose MetaTrader 4 to trade in the market. The platform offers ample of opportunities to traders of all skill levels ... It is my understanding that no history data is every downloaded from Alpari unless you specifically access it via Tools-->History Center. Another good technique is to copy your MT4 folder (in program files) into several other folders to have multiple working copies of MT4. You can then keep different history attached to each copy. For example ... Access the MT4 trading platform through your iPhone, iPad, Android, Windows smartphone and Pocket PC. Connect on the move and you'll get all the benefits of trading through MT4 with FOREX.com while on your mobile.
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