MetaTrader 4 (MT4) Basics – 10 Reasons to Use an Expert Advisor aka a Trading Robot

1. An EA can watch the market 24/7, it is a machine, it never gets tired.
2. It strictly follows the rules of the trading system it automates.
3. It does the heavy lifting for you, you can just watch it over and collect the profit.
4. It does not feel greed or fear; it does not allow emotions to interfere with its trading decisions.
5. It can trade while you are sleeping, eating or just relaxing on the beach.
   
6. You can backtest with it over past periods to see the performance of this trading system.
7. It can react much faster than you, especially during sharp market movements.
8. It can automate even very complex and computational intensive trading systems.
9. It is much more accurate than you, it is a precise machine.
10. It can be more profitable than you, because it will never miss a trading opportunity.

Related posts: 

How to open practice(demo) account in MT4

MetaTrader 4 (MT4) Basics – What is an Expert Advisor (EA)

How to open practice(demo) account in MT4

          Continuing our outlook on the basics of working with Meta Trader 4 (MT4) platform. If you feel ready to open your first demo (practice) account and use what you've learned in the Grid Trading Course about the Forex market and the Grid Trading System in particular, here is how to do it:

• Start your Meta Trader 4 platform. From the top left corner menu select File and from the drop down menu select Open an account. A dialog will pop out requesting your account details.

chart 1 - open account drop down menu

• Fill out all the fields with your personal information. Select the desired leverage and the initial amount you would like for your new account.

• Subscribe to the broker's newsletters in order to activate the NEXT button and then click on it.

chart 2 - fill in personal information

• Select your server if more than one option is available and click NEXT.  

chart 3 - select server

chart 4 - complete your registration

• Congratulations! Your account has been successfully created. You can access and save your credentials from the registration letter you received automatically after creating the account.

chart 5 - this is your MT4 account

chart 6 - registration email

This is your demo account. You can use it to back test or trade with it. Good place to start is the News Forex Grid Trading System. 

Happy Grid Trading!

Related posts:
MetaTrader 4 (MT4) Basics – 10 Reasons to Use an Expert Advisor aka a Trading Robot
MetaTrader 4 (MT4) Basics – What is an Expert Advisor (EA)

MetaTrader 4 (MT4) Basics – What is an Expert Advisor (EA)

          An Expert Advisor (EA) is a piece of software that automates a trading system. It is a program that is created to aid (or even replace) you, the trader. It is capable of executing trades on your behalf, on your account, based on the rules of the trading strategy it automates. Such programs are popularly known as “trading robots”. 

They can watch the market 24/7, open trades, close trades, basically do anything that a human trader can. But since it is a machine it is much more accurate and faster than you. It will never get tired and it will never allow emotions to alter its decisions.

          An example of such Expert Advisor is our GRIDAlgo EA. It is a professionally coded, fully featured grid trading robot. It enables you to automate a wide range of grid trading systems. You have full control over its work through its settings. We explain in details each and every one of them during the Grid Trading Course.

          Here’s an example of the GRIDAlgo EA in action:

Video of GRIDAlgo EA Executing the News Grid Trading System

Related posts:
MetaTrader 4 (MT4) Basics – 10 Reasons to Use an Expert Advisor aka a Trading Robot
How to open practice (demo) account in MT4