I am new to using a Forex Bot. I am currently using a MetaTrader4 Demo account. I have a few questions.
Do all Bots run 24/5?
Do I need separate Bots to scan for trends, signals, and automatic buying/selling?
Do I need MetaTrader4 open and logged in for the Bot to do it's thing?
Is the Bot adjustable to the starting balance in my account?
I'm assuming all Bots listed on MQL5 have been vetted for doing what they say they do and are not scams?
Are there Bots that don't require any programming from me other than account balance questions?
Are some Bots programmable, in that I may like everything it does, but I want to add one more setting?
I'm assuming the biggest difference between Bots and Subscription Signal Trading Experts is that Bots run 24/5 and Signal Trading Experts don't?
Thanks for the help! It is much appreciated!!
Forex Bot = EA (expert advisor).EA is the term.The term "bot" is not used for trading
Most of them - yes, but it depends on how it was programed.
No, you do not need it. There are many EA which can do everything separatedly, or do everything using just one EA.
Yes. But if you do not want to keep your Metatrader open 24/5 so you can subscribe to MQL5 VPS (and in this case - you will be abple to switch your Metatrader off and to close your PC.
I did not understand the question sorry ...If you are asking about the settings/parameters so you should select it by yourself by optimization process, or ask the coders. many people are trying to select the settings by themselves.
There are the following:Author of the ideas + the coders who code EA. And those two guys (or one person in case of author of idea = coder) are responsible for what you are asking.
You should select the EA by yourself (because it is your risk and your money).There are few threads on the forum and several articles about how to select EA and the signal.
It depends on you (because no one knows here what you want).But you can try many EAs on demo just to understand what is that and how to use it (and to have some idea for improvement, etc).
It depends on where did you download EA from:- if from the Market so you are using it "as is";- if from CodeBase or from the forum - you can ask the coders to improve it for you in Freelance.
Not. Both run 24/5.people are usinnng MQL5 VPS if they want to run them with closed computer for example.
You should read more and more (the articles published here, the threads, ...).because it is impossible to get the knowledge for one day ...and the knowledge = money (profit) in our case (especially in the case of using EAs).
Just for newbies (if you are new to this website for example) - it is strongly recommended to read the following articles/posts/threads -
1. User Memo
Forum on trading, automated trading systems and testing trading strategies
How to Start with Metatrader 5
Sergey Golubev, 2016.12.30 17:26
How to Start with MT5, a summary !
Sergey Golubev, 2017.03.12 08:23
MQL5.COMMUNITY PAYMENT SYSTEM
Internal payment system was initially created in MQL5.community for payment of fees to authors of Articles. But the community's life does not stay still, and plenty of services, useful for traders and implying commodity-money relations between two parties, has emerged on the web-site since the launch of the payment system:
The most popular payment systems WebMoney and PayPal are integrated for deposit and withdrawal. U.S. dollars are used as the currency unit. Eventually we implemented other ways of depositing to MQL5.community account: these are common plastic cards (CommerceGate), handy and rapid system not requiring additional confirmation (Neteller), and a solution oriented towards users from China (Netbanx).
2. How to make a search on the forum/mql5 portal
Where Do I start from?
Sergey Golubev, 2017.07.25 15:47
How to search:
How to make a search on the forumhttps://www.mql5.com/en/forum/193510
3.1. How to Start with MT5, a summary ! (incl the previous thread:How to start with MetaTrader and forex, the beginning) MetaTrader 4 Help - Client Terminal – User Guide MetaTrader 5 Help - Trading Platform — User Manual
3.2. All (not yet) about Strategy Tester, Optimization and Cloud
3.3. ASCTREND SYSTEM summary (incl 2 good EAs)
3.4. BRAINTRADING SYSTEM HowTo
3.5. PriceChannel Parabolic system (incl 2 versions of the EA)
3.6. Market Condition Evaluation (2 EAs were created)
3.8. Financial and trading videos - Table of Contents
3.9. All about Calendar tab and Macro Economic Events
3.10 All about MQL5 Wizard : create robots without programming
4. First key article:MetaTrader 5 - More Than You Can Imagine!
5. The second key article:Limitless Opportunities with MetaTrader 5 and MQL5
6. How to add the broker to MT5:
6.1. MetaTrader 5 Help - Open an Account
6.2. MetaTrader 5 Android OS Help - Opening a Demo Account
6.3. MetaTrader 5 iPhone/iPad Help - Connecting to an Account and Opening a Demo Account
9. MQL5 VPS for MT4/MT5
9.1. How to subscribe to VPS https://www.mql5.com/en/forum/187872#comment_4851530
9.2. You can move your VPS subscription from one account to another https://www.mql5.com/en/forum/172120#comment_4166892
9.3. MQL5 VPS descriptionhttps://www.mql5.com/en/forum/172553#comment_4185979
9.4. Monitor VPS https://www.mql5.com/en/forum/188920#comment_4800677
9.5. Synchronize - https://www.mql5.com/en/forum/211508
10.1. Find a Server by the Broker's Name:https://www.mql5.com/en/forum/9950/page88#comment_3981953 https://www.mql5.com/en/forum/214820
10.2. Help for beginnershttps://www.mql5.com/en/forum/214904
10.3. US brokershttps://www.mql5.com/en/forum/12423/page500#comment_4736742
11. Promotion:https://www.mql5.com/en/forum/9950/page88#comment_3982032 https://www.mql5.com/en/forum/9950/page88#comment_3982030 https://www.mql5.com/en/forum/9950/page88#comment_3982036
12. Freelance, decompilation, the rules, examples of the decompiled code:https://www.mql5.com/en/forum/203200
13. General rules and best pratices of the Forum
13.1. Thread with the discussion
13.2. Forum rules
14. The thread about threads: what's going around the forum everywhere Good thread if you are looking for something new and modern (and free one)
15. MT5, mql5, mql5.com suggestions for improvement thread
16. How to subscribe to topic or invite a person into the topic - the thread
17. I just downloaded MT5 I am not sure how to pull up Cryptos - the thread.
18. Club of telepaths- the post in eng forum and the thread in rus thread.
19. How to host an automated trading robot on Metatrader(how to attach EA to the chart for trading)https://www.mql5.com/en/forum/238562#comment_7158340
20. Automatic translation featurehttps://www.mql5.com/en/forum/13348
21. How to download free Indicator and instal it on Metatraderhttps://www.mql5.com/en/forum/261958