MT4 or MT5
I am starting to code some of my ideas in metatrader and I have one question.
Shall I start this project using MT4 or with MT5?
As I see it, MT4 is a robust system, with an active forum, articles, codebase, etc, etc. But I am worried about how long there will be support fot it. Or should I start with MT5, with a more efficient coding, even if it is not a robust system yet and has not all the pros than MT4? Or as a final alternative, sould code it with MT4 now and "translate" it to MT5 in the future?
I will really appreciate your opinions about this issue.
Rgards.
MT5 is going to be a tough sell...don't wait.... do MT4 and enjoy it as long as possible...MT5 is not backward compatible with MT4 and many strategy's
aren't even possible with MT5.
MT5 is going to be a tough sell...don't wait.... do MT4 and enjoy it as long as possible...MT5 is not backward compatible with MT4 and many strategy's
aren't even possible with MT5.
Many strategies not possible? How many can you identify?
Any that use both buys and sells at the same time with the same currency...... there are too many to list...
That's only one - ie. those that involve hedging.
OK Blogzr3 ...The THOUSANDS of EA's that use hedging don't work on MT5... whether dependent on MA or SAR or Grid or ANY of the MANY indicators...They DON'T work on MT5. (Hedging is not just placing a buy and a sell.....with a prayer).... I don't want to get in a pissing contest over semantics....... use MT5 if it works for you...it DOESN'T work for me!!....NOR WILL IT WORK FOR ANYONE ELSE THAT TRIES TO PLACE A BUY AND A SELL ON THE SAME CURRENCY PAIR!!!!
Good Luck to you!!
Though I feel that this is forum is beneficial, I dislike that this seems to be the ONLY support for us end users utilizing there MQ clients! They are most certainly aware and are utilizing ‘leverage’ with this forum to provide end user support with VERY low overhead to their advantage: both in debugging, trouble shooting, programming, time and money, all of which translate into the same currency/value. With them having the benefit of MANY free ‘man-decades’ of labor, most likely with in a one year period, it must improve their bottom line significantly. It also galls me that in the help menu there is a link to here for support for MT4. The first time I came here looking for some support and assistance with it. I was summarily booted and banned within days for posting questions of the forums about MT4. No warnings, not even a canned SPAM eMail to stick to ‘programming’ or that I had even been banned. VERY LAME!!!
I wonder if there broker support is only available through this sort of a venue as it is to us? I highly doubt it.
I have had some communications with a company whose products and services are all based on MT/MQL4. He has informed me that that in order for the brokers to run MT5 they will HAVE to buy new hardware servers only from MQ! Though this may be a deterrent for some brokers and slow the implementation of v5 it is doubtful that it will fail given the fact that v5 will allow the same brokers to also deal in a number of other investment vehicles as well from one platform. Add that to the fact that computer hardware technology is still advancing at a rapid pace, most brokers are probably in a position where they are constantly upgrading their hardware anyway. Though the ForEx dwarfs all other such investment vehicles, if you were a broker faced with these facts, would you turn down adding to your bottom line given the fact that it will cost brokers very little extra to offer and deal in these other investments?
Though I feel that this is forum is beneficial, I dislike that this seems to be the ONLY support for us end users utilizing there MQ clients! They are most certainly aware and are utilizing ‘leverage’ with this forum to provide end user support with VERY low overhead to their advantage: both in debugging, trouble shooting, programming, time and money, all of which translate into the same currency/value. With them having the benefit of MANY free ‘man-decades’ of labor, most likely with in a one year period, it must improve their bottom line significantly. It also galls me that in the help menu there is a link to here for support for MT4. The first time I came here looking for some support and assistance with it. I was summarily booted and banned within days for posting questions of the forums about MT4. No warnings, not even a canned SPAM eMail to stick to ‘programming’ or that I had even been banned. VERY LAME!!!
I wonder if there broker support is only available through this sort of a venue as it is to us? I highly doubt it.
I have had some communications with a company whose products and services are all based on MT/MQL4. He has informed me that that in order for the brokers to run MT5 they will HAVE to buy new hardware servers only from MQ! Though this may be a deterrent for some brokers and slow the implementation of v5 it is doubtful that it will fail given the fact that v5 will allow the same brokers to also deal in a number of other investment vehicles as well from one platform. Add that to the fact that computer hardware technology is still advancing at a rapid pace, most brokers are probably in a position where they are constantly upgrading their hardware anyway. Though the ForEx dwarfs all other such investment vehicles, if you were a broker faced with these facts, would you turn down adding to your bottom line given the fact that it will cost brokers very little extra to offer and deal in these other investments?
Doug You are correct....We the traders and the programmers aren't sending money directly to Metaquotes....the Brokers are. It is too bad Metaquotes forgot that it's us FOREX traders and
programmers who actually are the reason for Metaquotes success.... Unless they pick up on our concerns our support will leave for another more workable platform. I hope this doesn't happen as I
really enjoy working with MT4 (and make money too)..... I hope they offer MT4 and MT5....BOTH.... They really should call MT5 something else....like MQ1...it really is for a totally different venue....NOT Forex....
Really though the Beta way of testing software serves a dual purpose..it helps Metaquote evaluate many many different conditions never possible in house and also helps acclimate users and programmers with the new platform (although we certainly don't like what we see as it's a step backwards). Having complete control over hardware is another profit center for them but offers greater control that would help limit problems....somebody will have to pay for this though....and if we traders/programmers don't support the platform...the business model will fail....I really hope they see the light and correct the problems with MT5....we'd LOVE to embrace a good platform...
OK Blogzr3 ...The THOUSANDS of EA's that use hedging don't work on MT5... whether dependent on MA or SAR or Grid or ANY of the MANY indicators...They DON'T work on MT5. (Hedging is not just placing a buy and a sell.....with a prayer).... I don't want to get in a pissing contest over semantics....... use MT5 if it works for you...it DOESN'T work for me!!....NOR WILL IT WORK FOR ANYONE ELSE THAT TRIES TO PLACE A BUY AND A SELL ON THE SAME CURRENCY PAIR!!!!
Good Luck to you!!
Nothing to do with semantics.
I was aware of hedging not being possible in MT5 but to say "many strategy's aren't even possible with MT5" is completely misleading - hence I was seeking clarification. There are many many strategies out there, the vast majority of which don't involve hedging.
Good luck to you too.
That's only one - ie. those that involve hedging.
Not necessary.
One can program an ea or indicator that works in strategy with buy and sell values at the same time, but not necessary
involving hedging opening positions
The big advantage of MT5 against MT4 is the ability of changing the amount of the position. This allows averaging (adding, reducing) of the existing position.
In MT4 is necessary to deal with multiple positions to do so.
If the dev. team add averaging to MT4 would be great. And probably an option "Allow hedging" for the NFA brokers.
Why not MT5 to port and execute MQL4 programs???? That should be the top priority for Metaquotes.
Imagine if Microsoft has developed an OS that isn't able to execute any one of the existing piece of software. Who will buy it?
Edit:
Of course the new MQL5 concerns the users which develop and use experts. I don't know how many of them do so 10% .. 15%.
For all the rest who use MT as a chart display the changes in MQL don't matter.
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I am starting to code some of my ideas in metatrader and I have one question.
Shall I start this project using MT4 or with MT5?
As I see it, MT4 is a robust system, with an active forum, articles, codebase, etc, etc. But I am worried about how long there will be support fot it. Or should I start with MT5, with a more efficient coding, even if it is not a robust system yet and has not all the pros than MT4? Or as a final alternative, sould code it with MT4 now and "translate" it to MT5 in the future?
I will really appreciate your opinions about this issue.
Rgards.