By Warren Seah
Never before has trading been done with so much ease and precision over the past decade. With the introduction of MT4 platform for Forex traders, traders can enjoy much more ease and automation with MT4 Expert Advisor function.
With MT4′s own mq4 language, you can create more automated strategies and introduce flexibility into your trading system. Meaning that you free up much more time from monitoring and can choose to spend more time to discover newer strategies.
The benefits of creating your own EA are aplenty:
1) Incorporate your manual strategy into automation 2) Do backtesting on your trading strategy against chart history to see the viability of the strategy 3) Execute your trade strategy precisely and accurately without much delay 4) Removes emotional attachment from your trade, allowing you to trade logically 5) Allows you to customize and make changes instantly when your strategies aren’t working to what you first foreseen
There are still many more and I leave that to you to find out. But I want to highlight to you is the endless possibilities that MT4 expert advisor function brings to a retail trader. Being in control of what you wish to create, you will learn more fundamentals to trading and important lessons as you seek to find trading strategies to be used in automation.
As most retail trader do not know the importance of trade management and exit strategies in trading where it might bore them, MT4 allows these boring topics to be brought together and put them all into automation if you have no wish to touch them.
This require initial manual work on your part to create your own MT4 trailing stop EA which can babysit your trades for you and exiting trades when the market tells it to do so. But creating an EA is not easy as you thought it might be as programming knowledge is needed. Normally for programming design by professionals will set you back a few thousand dollars but I can tell it is worth the price tag.
Why? Cause I am sure you do not want a slip shod attempt in creating a trade management EA that gives you problem especially when you are trading live account. But there is a way to look for a trade management EA without spending so much money. You have to tap into the expertise of the trader’s community.
Yes. Retail traders will always find a way to solve their trading problems and try to automate much of the process as possible, therefore they will create their own EA for themselves and also to share within the trading community at a much lower price.
I always believe that when you share and give back to the community, you will reap goodness in other areas. So look out for traders who develop their own systems and create their own EA that may suit your needs as well too. This saves you much time and money to create something similar.
About the Author
By Warren Seah
“Introducing 11 Exit Strategies, What Every Disciplined Traders Need … Go Without It You Could End Up Being A PIP VICTIM Just Like Thousands Of Traders Out There.”
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