How to start with MetaTrader and forex, the beginning - page 10

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For beginners, I recommend to start trading with the currency pair EURUSD.

EURUSD is the most heavily traded currency pair on the spot market with the largest trading participants by volume. For this reason it is more bound to algorithm. Besides, the market forces of it is also strong that makes it is less susceptible to currency intervention.

This is merely a theory of one of the traders who do not become a full-time trader yet. Instead of logging in forums like being here, they already leave and spend their time with shopping.

Best wishes.

 
46du114t1f:

For beginners, I recommend to start trading with the currency pair EURUSD.

EURUSD is the most heavily traded currency pair on the spot market with the largest trading participants by volume. For this reason it is more bound to algorithm. Besides, the market forces of it is also strong that makes it is less susceptible to currency intervention.

This is merely a theory of one of the traders who do not become a full-time trader yet. Instead of logging in forums like being here, they already leave and spend their time with shopping.

Best wishes.


Many many years ago I started forex trading with USD/CHF. And Brainwashing system is working well with this pair - 

Brainwashing original:


Brainwashing improved:


 

A metaphor of cooking and trading style:

Salt is like the Japanese candlesticks.

Onion and garlic is like the supports and resistances.

Garlic is like the trendlines.

Another addition of analysis tool (ingredient) depends on the appetite of a trader (chef) to calculate market more advanced (to cook deeper recipe).

 

Testing trading strategies on real ticks and the explanation is on this post.

Forum on trading, automated trading systems and testing trading strategies

MT4 & MT5 backtest

Sergey Golubev, 2017.02.17 20:53

If you are backtesting EA on MT5 using 'every tick based on real ticks' so it will be almost same with trading on MT5 platform with some particular broker (because it is based on actual historical data).

Example, read this thread: Why is it better MT5 than MT4?? Does it have fewer limitations ??? - this is the quote from the first post of the thread:

  • In MT5 you can backtesting robots with the closest possible conditions to the real market natively  (real tick data, real variable spreads, lag, slippage, etc). In MT4 you can't natively. You only can if you pay for a third-party software. If so, you also have to download history data from a few sources (there are many few, almost everyone uses the same source), transform it to MT4 format and open the platform through this third-party software in order to patch MT4 behavior. You take many hours to complete this process, and you have to repeat it every time you want to incorporate new data. 
    We have all seen hundreds of robots that obtained spectacular results in backtesting, but when operating in real account the results were very bad. This is mainly because they were made with conditions that had nothing to do with real market conditions.

For more information about it - read this summary.

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As i know - some coders/traders are converting their MT4 EAs to MT5 just to backtest them and/or to find the settings with optimization to get the backtesting results that are closest to reality. 


 

Forum on trading, automated trading systems and testing trading strategies

All (not yet) about Strategy Tester, Optimization and Cloud

Sergey Golubev, 2017.07.22 07:31

The article:

Testing trading strategies on real ticks

The article provides the results of testing a simple trading strategy in three modes: "1 minute OHLC" using only Open, High, Low and Close prices of minute bars; detailed modeling in "Every tick" mode, as well as the most accurate "Every tick based on real ticks" mode applying actual historical data.

Comparing the results allows us to assess the quality in various modes, as well as helps us to use the tester more efficiently in order to receive results faster. "1 minute OHLC" mode allows receiving quick estimated test results, "Every tick" mode is closer to reality, while testing on real ticks is most accurate but time-consuming. Keep in mind that errors in a trading robot's logic may affect the number of trading operations making the strategy test results more susceptible to a selected test mode.



 

And the last interesting information about backtesting/optimization using MT5 - 

 
Sergey Golubev:

And the last interesting information about backtesting/optimization using MT5 - 


It will take time to have something complete, I am very busy :-)

 
46du114t1f:

A metaphor of cooking and trading style:

Salt is like the Japanese candlesticks.

Onion and garlic is like the supports and resistances.

Garlic is like the trendlines.

Another addition of analysis tool (ingredient) depends on the appetite of a trader (chef) to calculate market more advanced (to cook deeper recipe).

You can´t have garlic for Resistance as well as Trend Lines.

When garlic is for Resistance then olive oil is for Trend lines. :-)
 

The people are continually asking (on facebook for example) about how to open demo or real account with Metatrader so I want to remind about the following links:

MetaTrader 5 Help - Open an Account

MetaTrader 5 Android OS Help - Opening a Demo Account 

MetaTrader 5 iPhone/iPad Help - Connecting to an Account and Opening a Demo Account 

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Simplified way to request a real account in MetaTrader 5 Android 

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Forum on trading, automated trading systems and testing trading strategies

how do i get set up from here

Sergey Golubev, 2017.01.09 05:52

Find a Server by the Broker's Name

Another convenient new feature of MetaTrader 5 is adding brokers' servers by their names. With the previous version, you had to contact your broker to find out the IP address of the trade server or download a special client terminal. Now, you simply enter the name of the broker. The system automatically finds the server with the specified name and adds it to the list.



Open an Account - Getting Started - MetaTrader 5
Open an Account - Getting Started - MetaTrader 5
  • www.metatrader5.com
Two types of accounts are available in the trading platform: demonstration (demo) and real. Demo accounts provide the opportunity to work in a training mode without real money, allowing to test a trading strategy. They feature all the same functionality as the live ones. The difference is that demo accounts can be opened without any investment...
 

As the people are continue asking (especially on facebook) about "How to use this application?" so I want to remind the following key article:

Forum on trading, automated trading systems and testing trading strategies

How to Start with Metatrader 5

Sergey Golubev, 2017.02.12 06:36

MetaTrader 5 - More Than You Can Imagine!

The development of MetaTrader 5 started in 2007. MetaTrader 5 was conceived as a revolutionary, multi-market platform that can run on Forex as well as on any other financial market. A lot of work has been done since then, and the result of this work is the platform that provides unlimited opportunities to traders. In this article, we will talk about all the key features of MetaTrader 5 and carry out a comparative analysis with the previous version of the trading platform.

  1. Charts
  2. Navigator
  3. Trading
  4. Toolbox
  5. Testing and Optimization
  6. Integration with MQL5.community
  7. MetaEditor
  8. The MQL5 Programming Language
  9. Services for Traders and Developers

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And this is the MT5 user manual:

MetaTrader 5 Help - Trading Platform — User Manual


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