The MetaTrader 4 Platform has proved to be one of the most revolutionary advancements in the retail forex trading industry. It made possible the development of automated trading systems that are more popularly known as Expert Advisors or Forex Robots.
Metatrader 4 is a currency trading software platform designed, produced and marketed by the MetaQuotes Company. The MT4 is the single most popular forex trading platform in the world as well as for a good reason. In this article, find out more about MetaTrader 4 and why you should only use it and nothing else.
Today, almost all of the expert forex traders use the most popular platform of the MT4. Due to this reason, all of the successful brokers offer the ability to interface with their trading system with Metatrader 4 on your pc.
So what makes it so good then?
Benefits OfMetatrader 4
First of all, it’s totally free! How can an organization like this get away with giving away the software for free of charge? It is because that it is so good that the brokers are the ones who pay for everything – they require special software themselves (on their servers) to allow their clients to use MT4 from your home.
Another significant advantage of Metatrader 4 is the user interface. You have access to over fifty built-in indicators and tools. However, the most potent thing perhaps is the ability to trade automatically.
You can automatically trade by creating guidelines for the software to obey in your lack. It can range from merely a couple of rules to a complex mathematical trading system.
The best part is that you don’t have to create the rules yourself. Additional people out there who have built their own entire automated trading systems that you can use. You are free to test the system with MT4 against historical data to critically examine that if it is profitable. It is commonly called a back-test.
Foreign exchange Expert Advisors (EAs)
Forex EAs are a recent development within the last few years. The former hedge fund managers, traders, and Ivy League graduates have tested with MT4 for the prime goal of producing the fully-fledged, hands-off automated trading systems that should be profitable both in the short and long term.
They are commonly known as forex expert advisors, EAs, bots or robots.
The era of most of the traders creating their own separate trading systems is long gone. Various kinds of market conditions change so much, and so quickly it is required to have a much more complex robot that must be beyond the functions and resources of most traders. But thank you to the creators of the best robots one need not make their own system ever again – you can just use somebody else’s and connect it straight into MT4! Enjoy the exclusive advantages associated with the MT4 and generate huge profits.