Questions on: EA and TakeProfit
If you find the right EA, then you can mint money, but the trick is to find the right EA. The provided EAs are for example to help users deverlop their own EAs and learn the style of coding.
As for TP, you can set it to 0. However, I think it is useful and many commercial trend following programs have take profit levels... for example Andromeda.
As for TP, you can set it to 0. However, I think it is useful and many commercial trend following programs have take profit levels... for example Andromeda.
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1. Is an MT4 Expert Advisor (EA) a 'machine to make money'?
If yes, why do they ( https://www.mql5.com/en/code/mt4 ) provide free EA?
Do you know other websites providing free EA or indicators or scripts (for MT4)?
2. A main rule for successful trading says: 'Let the profit grow and cut the loss'. Using (setting) the TakeProfit parameter in my order (or in MQL), I will not follow the 1st rule (Let the profit grow). So, what is the reason to use a TakeProfit?
Thanks.