Automated Forex trading for beginners

Automated Forex trading for beginners

If you have never traded Forex with the help of advisors, but really want – you’ve come to the right place.
Read and do everything according to the instructions to the end and you can start making money on Forex today. A lot of time and effort you do not take away. All that is said in this article is the technical minimum that you need to know and be able to do on the computer in order to learn how to make money on Forex with the help of advisors.

Forex trading is a very profitable business (for a reasonable person). The daily turnover of the Forex market is not much wrong if I say 13 trillion dollars, of which to get their$ 50 a day is quite real.
Whatever it may seem, in fact, trading Forex is not as difficult as it may seem to a beginner, especially with regard to automatic trading. Forex trading is a real income on the Internet.

This description will contain General information: minimum to start trading with expert advisors. You can study Forex trading in more detail by yourself.

I’ll start with the most important thing-tell you what a trading Advisor or robot.

Advisor is a program code written in a special language MQL 4 or MQL5, which interacts with the trading terminal, responds to changes in market prices and automatically places trading orders (in accordance with its algorithm and received signals based on the analysis), making the purchase or sale of a certain currency at a certain time. The subsequent change in the price of the currency, as well as the closing time of orders (closing is also carried out by the EA automatically) affects the state of your account (the amount decreases or increases).

Currency pairs and price changes of one currency relative to another are usually used in trading, for example eur / usd-Euro / dollar, gbp/ jpy – British pound / Japanese yen

The adviser himself is the file extension most often .mq4 or .ex4 in which the program code is written.

The EA usually has a name that identifies it, usually in English, for example: Megadroid, autoforex, Automated forex grail, Poison robot, Ilan, etc.

The EA trades in the trading terminal environment.

The trading terminal is a special program for a computer (for example, in the Windows system), designed for Forex trading.

We will use the most popular trading terminal MetaTrader 4.

The EA can be based on the indicator.

Indicator – is also a special program code written in the same language as the expert Advisor, designed most often for graphical or mathematical analysis of the market (construction of additional charts or mathematical calculations required to obtain trading signals for the expert Advisor).

To start trading advisors you need:

  1. Download and install the trading terminal
  2. Place the EA in the experts folder of the trading terminal (by default C:\Program Files\Meta Trader 4\experts)
    The required indicators are placed in the /experts/indicators folder (by default C:\Program Files\Meta Trader 4\experts\indicators)
  3. To restart the terminal
  4. Connect an account (by registering it in advance)
  5. “Tie” advisers to the relevant trading pairs
  6. At least once a day to check how your EA trades

Expert advisors allow you to trade Forex on a given algorithm in a fully automatic trading mode-this is their main advantage over manual trading methods.

Where to take such wonderful advisers? – if you look good – they are a great many lies on the Internet for free. But all. what is free-works badly, in this case, it is difficult to get at least some profit, and most often trade with the help of free expert advisors is a loss of money, unless, of course, to carry out their competent optimization.
Buy good advisers, too, can not-who will sell good advisers, giving from 10 to 30% profit per month, and even more.
But good adviser can be obtain for free, I have, much detail here. It also says why I’m doing this.

So You learned the basics, but it’s a theory. Let’s move on to practice:

Install Meta Trader 4.

Download the installation file of the mt4 terminal from the Forex4you broker at the address: mt4setup.exe

Save it on your computer such as a folder C:\Downloads\. This is how the installation file looks like:

Now run the installation file by double-clicking. The first installation window should appear:

Select the installation language-Russian and click “Next”. Now you will see a welcome window, as well as a warning.

The warning is written very scary words, but it applies to those who want to take money for the distribution of this program. The program is completely free and distributed freely. Install it on your computer by law can absolutely anyone.

The license agreement window appears. Put a tick “Yes”, agreeing that we will not try to sell free:) the program and click “Next”

Now you need to choose where to install the program. Default C:\Program Files\MetaTrader 4

You can leave the default path, or you can choose another. On request. Click “Next”.

The installation wizard prompts you to select a group in the “Programs” menu that will contain a link to start the program.

If you don’t know what it’s for, don’t change anything. Click “Next”.

Finally, the wizard reports that all the necessary parameters for the terminal installation have been specified and everything is ready to start the installation. Click “Next”.

Observe the progress of the installation.

The installation itself should take a few seconds: 5-10 depending on the power of your computer.
Wait until this window appears:

You can leave the Launch Meta Trader 4 tick – this will launch the installed terminal automatically after clicking the “Finish”button. Click “Finish”.

After a few seconds, the window of the Meta Trader 4 trading terminal appears:

Greetings! You have installed your first trading terminal Meta Trader 4. But once long rest on their laurels. Only the installed terminal will not bring you money. You need to open an account (while the demo) and install the EA, but in order.

Registration of the account.

Installed trading terminal Meta Trader 4 will be able to work on Forex only if you have a trading account registered in any Dealing Center (DC). Accounts are training (demo account) and real. Real accounts are used for trading with real money. Training accounts are used for training Forex trading. They use, so to speak, conditional money. Winning or losing on a demo account will not affect your financial condition. You can register a training account for free directly from the Meta Trader 4 trading terminal, as well as replenish it with any amount without making any cash. Let’s open a demo account.

As you have already noticed when you start the Meta Trader 4 terminal, the “Open account”window turned out to be the first open window. Here is this window:

In this window you need to enter the registration data. You can enter any data, not necessarily your real, because opening a demo account does not oblige you to anything. By the way, you can open as many demo accounts as you want – there are no restrictions. You can fill in the data, for example, as follows:

Click “Next”. In the window that appears, you can scan the offered trade servers for connection availability. About it will tell a successful ping of the server in milliseconds and a small green tick near the server logo.

After successful scanning of the server click “Next”. We observe the registration of a demo account and after successful registration a window with the data will appear. The most important of them are the account number and password (the investor password is used to connect to the account only for viewing without the possibility of trading).

Click “Finish” and the terminal in a few seconds (depending on the speed of your connection) will enter your registered account.
Just in case: if you have lost the data of this account (demo account) they are stored in the mailbox of the terminal in the letter in the subject “Registration”. This email can be opened with a double click.

Installation of trading Advisor.

To start automated trading on Forex, you need to install a trading Advisor on the right pair. Let’s do this

For exercise take the trading Advisor Ilan5_MT4build2, he sells very clearly.
Free download and completely free here: Attention! The link is not direct, it need to go!
I remind you that all downloaded free of charge profits is not likely to bring – suitable only for teaching and training. Where and how to get a profitable EA, I will once again indicate at the end of the article.

After downloading YOU got RAR archive in which 2 files: one in the format mq4 (Ilan5_MT4build2.mq4) (if not – this is not what we need, download again or write to me) – this is the uncompiled (its code is clear to the human programmer) Advisor-in General, in the source code! And another file in the set format (Ilan5_MT4build2.set) – settings file for this EA or set. There is another file – Ilan5_MT4build2.ex4-this is the file Advisor robot code understandable machine, which actually we need to trade.

So, downloaded a file called Ilan5_MT4build2.rar need to unpack, inside, find the file called Ilan5_MT4build2.ex4 (you can also put Ilan5_MT4build2 file there.mq4, but if you are not a programmer, you will hardly need it as Directly for the file ilan5_mt4build2.mq4 is not needed) you need to put in a folder with “experts” installed terminal Meta Trader 4. If you chose the default path when installing the terminal, it is: C:\Program Files\MetaTrader 4\experts
Copy our file to the “experts” folder. ! Upgrading MT4 to build 610 has slightly changed the folder structure, keep this in mind when installing expert advisors.

Now, you need to restart the terminal (close open and reopen). Choose in the top menu of the terminal “File” – > “Exit” or click on the top right cross.

When you installed the terminal, the installation wizard created a terminal shortcut on the desktop. It looks like this:

This shortcut starts Meta Trader 4. Double click on it. The trading terminal opens.

Now our Ilan5_MT4build2 expert Advisor appeared in the terminal Navigator in addition to the standard MACD Sample and Moving Average expert advisors

Now let’s put the EA to work on the pair eur/usd (Euro / dollar) and on the time frame M5 (chart period) 5 minutes.

The Euro / dollar pair is set by default on the top left chart – click on it anywhere to make it active. Now let’s specify the desired period of 5 minutes, in the menu of the terminal “chart Period” press M5, thereby adjust the chart to the desired time frame (TF):

Now, after the desired pair and TF are configured, you can install the EA on it. Click on our expert Advisor with the right mouse button and select “Attach to chart”.

The following window opens:

Put a tick “Allow the EA to trade” and go to the “Input parameters”:

These parameters can simply watch, but you can apply it to our configuration file which was in archive Ilan5_MT4build2.set
Previously, this file (set) should be placed in a special folder presets in the trading terminal MetaTrader, which usually stores the settings files. This folder is located at C:\Program Files\MetaTrader 4\experts\presets\
To apply the settings that are in this file to the EA, click the “Download” button, select the Ilan5_MT4build2 file.set and press OK. We can see how the Pipstep parameter changed its value from 30 to 5. Other parameters remained unchanged.

Now in the upper right corner of the Euro-dollar chart appeared brazenly smiling muzzle adviser, that’s it:

This means that the EA is active, that is, it is configured, that is, it is able to work. And in a few seconds the EA will place its first order.

Then, when you decide to work on a real account, in the Dealing Center after registration you will receive a real account number and password for trading.
To register, use this link:

Do not forget then to unsubscribe me through the feedback form that you have registered – I will give you good advisers.

If you have reached this point, I congratulate you! You have installed and configured your first best forex trading robot!
Here ends the very minimum that you need to know in order to start automatic trading on Forex (trading advisors).

Finally, a few useful recommendations:

  1. Sometimes view the log of the expert advisors (it is located in the lower part of the terminal in the “Experts”.
  2. Configure the terminal interface “for yourself” – climb in the menus, try different features.
    I personally for the convenience of advisors use Windows cascade and shift the schedule.