MQL4 - automated forex trading   /  

Forum

Login | Register | Language: ru cn en
Post Your News in Blogs and Become Famous!

Questions on EA / Forex robot

Back to topics list To post a new topic, please log in or register
avatar
2
nlkn5 2011.10.04 18:04
 

Hi,

I'm quite new to EA and bots and have been quite confused as to how they work.

What i don't seem to grasp is how does the EA/robot
automatically enter Buy and Sell signals?

For instance, say, i have a US$ 2,000 Forex trading account. The brokerage gives a 50:1 or 100:1 leverage (Note that I don't have an account with a broker yet)


So, if everything is automated, how does the robot
manage my $2,000 account and utilizes it to Buy and Sell on my behalf without me doing anything?

How does it know how much of my account to use?

Does an EA/robot automatically Buy/Sell multiple currency pairs OR do i need to have separate EA/robots each for different pairs?

Your help is much appreciated.
Thanks
-- Nick

 
SOMETHING TO READ - Trend Following: Learn to Make Millions in Up or Down Markets
Trend Following (Updated Edition): Learn to Make Millions in Up or Down Markets by Michael W. Covel Discover the investment strategy that works in any market. The one strategy that works in up and down markets, good times and bad.
avatar
14179
RaptorUK 2011.10.04 18:17 #
 

You program the EA using MQL4 to do what you want in terms of strategy . . .

http://book.mql4.com/

avatar
9919
WHRoeder 2011.10.04 19:55 #
 

nlkn5:

I'm quite new to EA and bots and have been quite confused as to how they work.

What i don't seem to grasp is how does the EA/robot
automatically enter Buy and Sell signals? It calls OrderSend() to open a new order.

For instance, say, i have a US$ 2,000 Forex trading account. The brokerage gives a 50:1 or 100:1 leverage (Note that I don't have an account with a broker yet) You can open a demo account - no cost


So, if everything is automated, how does the robot
manage my $2,000 account and utilizes it to Buy and Sell on my behalf without me doing anything? It calls OrderSend() to open a new order when the creator's conditions are satisified.

How does it know how much of my account to use? What the EAs creator determined.

Does an EA/robot automatically Buy/Sell multiple currency pairs OR do i need to have separate EA/robots each for different pairs? Either way. The easiest is for the EA to work only with the current chart. You decide with charts you put it on. One EA - multiple charts.


avatar
2
nlkn5 2011.10.07 05:13 #
 
WHRoeder:


Thanks for the feedback. It helps but I still have

some more to ask.

I need a scenario based description, or better a step-by-step guide

using a typical scenario.

Is it possible if you can do that using my example of the US$2000account in

my topic question. How will you create a robot around this scenario?

Or can you please suggest a website/blog that provides detailed steps in

creating robots based on scenarios or examples.

I ccan only better understand the concepts of creating robots

this way.

Thank you for your help.

-- Nick

 
avatar
14179
RaptorUK 2011.10.07 10:51 #
 
Read the Book. http://book.mql4.com/
avatar
Moderator
1936
BarrowBoy 2011.10.07 11:51 #
 

Strategy first, maybe start here - study these for 3 months or more then look at the Code Base here for EA examples

Most important is to pick one pair, study that pair in depth and find a strategy to suit & decide whether you are scalping, intraday, swing or position trading

If you don't know what these terms mean, hit Google & learn

-BB-

 
Back to topics list  

To add comments, please log in or register