Mql4metatraderautomationtutorial Trading Tutorial Automation

If you trade for some time, you might experience some unpleasant things! I was totally happy and started to grow my first real money account. Soon I discovered, that my trading costs were way too high. I needed another broker, so I switched. Then the markets changed and I became afraid and took out the rest of the money at the exact wrong time. That was frustrating! My MQL5 system went out of business on January 16th 2015, the same day when my new british broker (sounds similar to the word Alpaca) declared bankruptcy.Automated Trading Tutorial Related Posts:MQL4 Course for your Inbox? Click here... MQL4 Video Bootcamp 2016 – Intro

MQL4 is good for a lot of things, but there is one thing that it is the best solution for! Have you ever asked yourself, if a small change in your own trading system could improve your trading results? Would you like to know, how your trading system would behave wen you change one simple thing? Here is how to find out about it…Automated Trading Tutorial Related Posts:MQL4 Course for your Inbox? Click here... MQL4 Video Bootcamp 2016 – Intro

MQL4 comes with a few handy things. One of these things is the screenshot function that makes it possible to see exactly how your chart looked when your automated Metatrader4 system opened a trade. And it can be done with a single line of code… https://s3-eu-west-1.amazonaws.com/goldengoosedownloads/CreateScreenShot.ex4 https://s3-eu-west-1.amazonaws.com/goldengoosedownloads/CreateScreenShot.mq4Automated Trading Tutorial Related Posts:MQL4 Course for your Inbox? Click here... MQL4 Video Bootcamp 2016 – Intro

Trading is risky and most Traders lose their money within the first few month It is very easy to start with trading, but most people do not make it through their first year. Why do you think your broker is trying to make you trade bigger amounts all the time? There are several reasons why you should stop doing what you do today…Automated Trading Tutorial Related Posts:MQL4 Course for your Inbox? Click here... MQL4 Video Bootcamp 2016 – Intro

It was in our German MQL4 course when an interesting question about trading entries came up. Would a random entry produce other results? Is a trend following signal dependable better? We wanted to know, so we created an MQL4 System and called it SALT (because of the white netbook). Today SALT has produced amazing results.Automated Trading Tutorial Related Posts:MQL4 Course for your Inbox? Click here... MQL4 Video Bootcamp 2016 – Intro

Good trading should be boring. That is something I had to learn. When I started to deal with that trading thing, I was very excited. My first trade made 16 Cents within 2 minutes and I was in heaven. I had big plans for the next few weeks and I wanted to become the fastest trading millionaire in the world. I mean how easy was that? You only had to do the right thing often enough and cash in the profits – at least I thought so.   So I started to look outkp for a good advisor. But everybody did something else. One guy was all about trend following, the next one said that channel trading was the real thing and another one would swear that gap trading was the thing to do.   And everybody claimed to be very successful and – just for you for a limited time he would make that special offer to buy that All-In-One-Trading-Robot. But you needed to buy today, quick before the last two spots were gone and you would be doomed to cry forever.   Today a member of my German MQL4 course sent me a li

How predictable is random? Everybody is looking for the perfect trade entry and the most predictable signal.   Some people trade trends and I like trend signals, because a trend is required to make profits anyhow.   Other folks like to trend waves, channels, outbreaks, pivot points or candle patterns.   And they are all convinced that their method can beat random entries. But none of them could tell me how much better “better” is. If I can make 100 Dollars with one of that systems, would that mean I could also make 100 Dollars with a random entry?   Or would a random entry result in a 50 Dollar Profit? Or worse, would random always produce a loss?   I didn’t know and so I did a search on Google. Dr. Van Tharp and Tom Basso came up with a random system that is described as “being profitable” for several years.   And they said in that book (I will include a link in the shownotes: https://www.vantharp.com/products/develop-winning-trading-systems.asp) th

An automated system is a nice thing,  because it can help you to trade exactly according to your rules,  even when you are not at your desk. But it is also possible to lose a lot of money if you miss some important things.   The first thing that can cause losses is when your Metatrader4 loses the internet connection for some  reason.   Maybe because of a power problem or because of your cat sleeping on your keyboard while you are  anywhere else.   If your connection is lost, some strange things might happen,  because your system might do the  right thing for the wrong reasons.   It will have  old data until the connection comes back and suddenly there is a gap.   That gap might cause your system to decide that it is time to close all your trades for example.   So  I strongly recommend  to find out the impact of connection problems while you are testing with your demo account.   It might be costly in your  real account later.   The next thing that comes in the way of  automated systems  is when your computer s

Trading is easy. If one has lots of time and money. But sadly most people don’t have one or both ingredients in great quantities. We need to work, we drive around, buy stuff and spend our time with lawn mowing, fixing things or we are forced to do paper work.   Life is what happens while you make other plans and in no time a day, a week or a month has passed and we have not made   a single inch of progress.   Therefore a trend is the perfect entry for my automated system. If the market moves upward within 10080 minutes (equals a week) that is a buy signal. If it moves down it is a sell signal.   That can be calculated with a simple moving average called an IMA. And most often you can also see it. You see it on all the charts for the shorter time units. And that exactly is the reason why I like the long-term trend based entry so much.   So what needs to be true when it goes up for a week?  Can there be an opposite trend in a smaller time frame? Yes.   But can it go down for a whole wee

A few weeks ago I did a survey among the Golden Goose course members and I got lots of useful feedback. Some things have been mentioned very often, for example the term “Burned money”. Every trader has burned money in the past I guess. And there are a few things, one can not influence. For example the Euro crash or what central banks decide.   However there are also some awful trading traps that one can avoid easily, once you know them. These traps are the topic we are talking about now, because I think nobody needs to lose money because of them.   Trap 1: trading cost   Often underestimated trading costs are the one thing that can even mean creeping death for a working trading system in the long term.   I fell into this trap myself and have paid unessecary swap fees for a long time, because I thought that cost would be unavoidable.   But far from it, there are definitely good brokers that can exist without swap fees and do only charge for commissions instead. My current main broker d

PCs are unlike humans. Your PC is totally fine with Bits and Bytes and you can feed it for hours with that kind of data. And it will not quit. But for us humans it needs to be more meaningful than that. That is where descriptions are useful. Such descriptions help us to avoid confusion and to see the whole picture.   For example, in real life one would give somebody hints like “turn right at the red church after the second traffic light”.   If other people would give me only the degree of longitude and latitude instead, I would be pretty helpless.   A description is regulary some text and it might also contain data. Let’s have a look at the example we discussed in the episode about the Comment function. If you have missed that part, you can go straight to TradingTutorialAutomation.com and repeat it.   We have used the following function:   Comment (AccountBalance());   The result was a number that showed up in the upper left corner right on your chart. We will enhance that number

Last time we have talked about the Comment function. It enables any kind of trader to get more relevant information on the chart without much effort, because it can print out several types of information. MQL4 Account Information documentation here We have started with the Account Balance. If you have done that, you might have noticed that the term AccountBalance() was followed by two round brackets. Any time you see this, you know you have found something that is like a little programm you can use in your code to calculate something or to give back some kind of value. This is called a function. If you ask somebody on the street “Could you tell me the time, please?” you have called the function “TellMeTheTime()”. That is the most easy way to call a function, because you will not need to deliver more information. He will know, what kind of time you are asking about. Otherwise, if you would ask the same person “Could you tell me the way, please?”, he might be a little irritated, because there is some informatio

What would you think is necessary to print data like your Account Balance or your Account Equity, your Trading profit or your Brokers spread directly on the chart on your computer screen? Shownotes: PDF-Version with Screenshots When I started to deal with automated trading, I had to spend lots of time with the classic fundamentals. Like learning data types and creating the stone-aged “Hello World” programs.   I can tell you, it is hard to focus on these dust-dry things if your subconcious mind has nothing that could motivate you to do that. I don’t know about you, but I need to see a benefit to put in all the effort it takes. Even if it is only 5 minutes.   So here is my version of your first programming example, that will allow you to watch a relevant output that will be automatically drawn and refreshed on your chart with every price change.   To follow these instructions you might want to open this episode on TradingTutorialAutomation.com because in the show notes I will include the screensh

I remember, how it felt to be a discretionary trader. When I made my first trading experiences, I was constantly in doubt and fear to loose money by making stupid mistakes. And I did. I remember  an evening when I missed a comma in the lot size and opened a position ten times bigger as wanted.   I remember awaking in the middle of the  night and thinking about my open trades. I remember how often I was almost sure that I needed to get up right away and  check my Metatrader.   And I remember how excited I was when someone told me that it is possible to automate your MT4 trading  with MQL.   This weekend I have  released the  study letter 15 of the  Golden Goose Construction Kit that describes how to create a trailing stop to protect your trades over night for a better sleep.   And if you are where I was not so long ago, this  might be the one thing that would probably help you most if you have to leave your PC and go to sleep or to work .   Sign up for the free course and send me a mail with the keyword Nightl

Trading success principles. Everybody is writing about trading success principles. Most systems are complicated and I don’t understand them. For example there is the Elliot wave system. People count ups and downs and expect the market to go up or down in their order. And if it doesn’t, they believe that they have messed up by counting waves.   That was nothing I could relate to. I wanted to find something more reliable and much more easy, so I decided to test. I have a lot of trading books and some of them are more helpful than others.   One of the better ones is from Van Tharp and it talks about expectancy. How much do you expect an average trade to make? Van Tharp has some good examples to explain expectancy, but there is a catch.   After 10, 100 or 200 trades you might still get other results, because the law of averages requires big numbers to work well.   If you roll a dice twice and the 6 comes up two times, you might expect to have the same result the next 10 times. But we all know,

What exactly is  it that makes a profit possible? Let’s see. If you have decided to buy something and you want to sell it for a profit, do you have to sell it for a higher or a lower price? Let’s say you buy a brandnew car. You drive it for 5 years or so and than you decide to sell it. Would you expect some buyer to pay more or less?   When I buy a car, I want to use it. When I open a trade, I want to make a profit! I can not use my position for any other purpose. The only reason to buy or to sell something on the markets is to make a profit. At least for me.   And yes, sometimes I have to find out, that I opened my trade exactly at the time, when the market goes against me. It happens often.  The only thing that could avoid that would be a good fortune teller.   And that is the problem, at least for me. I do not believe in fortune telling. If people would know market moves in advance, the moves could never happen the way they do, because of the undisputable law of supply and demand.   If you offer your used

Okay, by this time you should have downloaded and installed Metatrader 4 with standard options. So what are we going to do with this shiny new thing? When I first started Metatrader, I had no clue how to do anything with it. If you are in that stage, I would suggest to take a little walk around on YouTube. There are lots of tutorials that can teach you what a chart is and what all the buttons in Metatrader can do for a newbie. The short version is that Metatrader can display market information that is downloaded in real time and you can open or close trades with it. If you never have done this before, you should absolutely start with a demo account, because you are going to make costly mistakes. For example you might open a position with a lot size that is ten times bigger than usual. Oops. Start small and save with a demo account. If you are in Europe or anywhere outside the U.S. I would suggest Forextime or Roboforex for your first demo account. I have reasons for that and we are going to discuss that in an

A lot of people buy trading robots without any clue what they pay for. I guess they think it is a good solution, because they expect a ready to go system that will make them money without any further effort. Most people I know from my German course told me, they spend money for things that didn’t work.   If you have considered to buy a tradiing robot, you might know, how these systems are sold. Everything is positive and you will see images of bundled dollar bills, attractive young women on sportscars or big yachts, get examples and referrals from instant millonaires and they will tell you: You have to buy today or the last 3 available copies go away. We all know, that software and information products do not sell out, because they have no stock. But it works, because it sells. Scarcity and emotion and the desperate wish to make a quick buck make that robot shiny and desirable.   But if you don’t know, what that thing does and how that thing works, you might be always be in doubt and fear.   But only a fracti

What do you think? Is trading an area where you have to spend huge amounts of money, just to get started? Some people might want to persuade you that it is so. But there is another way. If you ask a butcher about a recipe for lunch, he will always recommend meat. That is because the butcher sells meat. If you ask somebody who sells trading software, he will always come up with reasons to spend you money on good trading software. And there is a market for that, so it works.   You can make people pay for anything, even for air in cans. I have seen a video where some company does exactly that in Asia. All they had to do is to go to one of this big towns where the smog is polluting the air.   And I do also spend good money on several trading gear, especially books. But there is one software, that not only is a good choice by financial terms, it will also allow you to automate parts or maybe even your whole own, personal trading system. This software has even gotten better last year, because it was improved by the

What do you think? Could you cook a delicious meal or bake a tasty cake exactly the way your Grandmother did? About twelve years ago, I decided that I wanted to make my own pizza. I wanted it to be tasty, I wanted it to be easy to create and I wanted to do it in 10 minutes or less with common ingredients.   So I started to play around and try out this and that. And I have to admit, that the first attempts were a mess. You couldn’t eat that stuff, maybe you could use it as a frisbee.   But my results got better after a few month and now my whole family likes my pizza. My daughter loves to cook and she asked me if I could teach her, how to make my 10 minute pizza.   Guess how long it took her to learn? Exactly 10 minutes, because of that most important thing, that you also can use to improve your trading results. What it is? It is called a recipe, a formula, a step by step guide, a process and it might have several dozen other names.   But to pinpoint it, it is to reproduce something that works and is documente