Expert Advisors - confused.com!
The window you have there has nothing to do with EAs. That's the manual open/close trade window.
If you want to test EA's use the strategy tester built into MT4 or MT5.
If you want to test EA's use the strategy tester built into MT4 or MT5.
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I will freely admit that i am relatively new to the whole world of FOREX but at the same time trying hard to learn and understand it. I noticed on this site the other day the section about Expert Advisors. I thought i would have a play around and downloaded a couple to try on a demo account. As i understand it they should automate most of the process and effectively make the trades for you. What i am confused about is that various different EA’s all seem to have produce the same results in terms of profit/loss even though they seem to be built differently; different time frames etc.
It makes me think that i am not setting something correctly?
In Metatrader 5 i am opening up a currency pair and applying the EA to the window with the default settings. I then go to open a trade and this is the settings i am using:
Am i going wrong by not setting a stop loss and take profit, or is it something else? I can't work out why the different EA’s over exactly the same time frames with same quantities are producing exactly the same results! Any help would be greatly appreciated!