Why some great coders and trading system developers are ignoring Metatrader 5? - page 5

Simon,

FIFO provides no choice. I assume this rule is applied to only US clients using MT5 and not everyone else, is it?

A hedging benefit I do acknowledge is an option to open multiple orders  on a single currency pair then close each order in whatever order I choose. This feature is sorely missed.

Thank you.

We've beat the Hedging-Topic to death on this forum. You've just provided the Typical-Argument for Not-Hedging, and most people including me would agree with that. But how about the case where someone have 2-Experts [which are profitable]. One expert want to Long-EU and the other want to Short-EU. Now Big-Brother mt5 see that as stupid and closes all orders.

Its not the Hedging or Non-Hedging which some people dis-like. It's the Lack-Of-Option. As a Trader, I hate when Options are taken away from me. Don't Hedge - FIFO - Max_Leverage = 100. Big-Brothers always trying to tell everyone how "not-to-trade" but never actually tell you how "to-trade". With Leverage of 1:1000 I already had the option to choose 1:100, so what value have you added here... Absolutely Nothing.

Why do we have all these restrictions [shady brokers in the past] & [bad-traders, complain, complain, complain]. Now mt5 wanting to be compatible with Stock, Futures, and Other Markets forgot who her core-users are and by Default Lock the familiar stuff down. However her big-mistake was not providing some form of Virtual-Order-System, which could Keep-Track of 2-or-More systems that conflicted.

Developers/Creative thinkers however don't have this problem. Wanna hedge, just create a different account. Wanna keep your Logical-Multi-Directional Systems in tact, Just create a Virtual-Order Manager. Wanna Lock Me down with high-spreads and low-leverage, Just find a different broker. Its just a Royal-Pain [Programming Wise].

mql5.com moderators are moderating me on the same way as others. Proof? You can ask them.
Just an advice:
- do not judge anyone for different opinion;
- and do not offend anybody.

Because this is int'l world, and we are not unknown anonymous persons talking just for fun sorry. 

By the way, you are too aggressive.
I do not like agressive people.

=======

As I explained - MT5 is having many advantadges (at least for me), and I feel really lonely when my friends (great coders) are not joining MT5 community.

  

Don't worry we'll all join you soon enough :). Perhaps you'll be a great-moderator when we get there. I really, really, tried to be respectful toward you. Though it seemed like you were trying to engage the mql4-community with a subject which is alway exciting [for lack of a better word]. Even WhooDoo22, the nicest guy here taught it's not good neighbor policy.

I was hoping to use this opportunity to gain some insights about developments/approaches you believe have made a difference. I mean forex-tsd is a pretty advanced forum. Should you choose to provide some links, it'll still be appreciated. Those members who are always asking for good-ea's might actually benefit.

I can not post any link of other forums sorry.
As to MT4 EAs - yes, I will upload them on the moment when we will try to convert them to MT5.
I am talking about profitable EAs which I traded for more than 1 year.
And everything will be publicly uploaded of course.

Because I want to try strategy tester for MT5. Why?
It is very difficult to find good settings for EA for trading in MT4.
And as I see from this article - startegy tester is much more improved so I want to try it in MT5.
And I want to try Cloud.

Just an example of one free EA (10points_3_Smi_1.02) which I traded for 1 year:

This account analyzer was created by Igorad for me some time ago for MT4 (data is taken from AccountHistory of metatrader so it is not backtesting).

So, I want to try optimization in MT5, and I want to convert some EAs to MT5 too. Of course, everything will be publicly available.
Because as I know from MT5 article - there is Sharpe ratio there (I used Sharpe for the long time but I used this custom tool for MT4), and I do not need this custom MT4 tool anymore in case of MT5.

Well I understand your position and found the project on forex-tsd myself. Mt5 is a technologically advanced piece of trading software. Runs faster and support modern programming structures like Object-Oriented-Programming. Anyone wanting to create more complex, self-optimizing, artificial intelligence, etc experts on mql5 would have very little excuse not-to. At such, the back-tester is in some ways more advanced and faster than mql4. However, the ticks are still not real, rather they are still interpolated. And according to phy.nuts [cross moderator] mt5 does-not allow importing real-tick data, Here.

If you're wanting to use mt5 to optimize the daylight out-of a strategy then more power to you. But how does optimization help a strategy like the one mentioned above. Without carefully examining the codes, I've observed the following about the 10_Point system. -It places orders in low volatility. -It averages down as it loses. -Instead of martingale, it uses Fibonacci sequence progression. -No stop-losses.

From my experience, the optimization would be useful up-to the point when it places an order. All these indicators, optimization etc is being used to answer one fundamental question and that "is the market flat". But frankly does someone really need these indicators to determine a flat market? A range market could easily be determined by drawing a trend-line from bar[0] to bar[X] and if the trend-line is flat, you're in a range. The big question of how-far back to look, on what time-frame etc makes very little difference, and what's optimum will change from from hour-to-hour. I could make another scenario for volatility but I digress.

Expecting future-results to duplicate back-tested results is a mistake. Expecting back-tested results to duplicate past trades you made with an EA is also a mistake. I believe a back-test should be used for generating a system's theoretical long-term advantage by simulating some couple thousands of trades. If you don't have enough trades than randomize the trades and see how your money-management handles different situations. The idea here is to generate something similar to what RaptorUK is describing Here.

Anyways, I back-tested the system mentioned. I wouldn't recommend it to anyone. However, that does Not mean it didn't work in the past. Nor am I saying it wouldn't work for some Lucky person in the future. The image of where it failed is below and files are attached. If someone using this system is saying, "I would have exited this trade manually", then what kind of system are you really running. And why don't that person just program that exit in?

It works for USDJPY only, M1 timeframe (statement is attached).
I could not find good settings for the other pairs.

Do you know what is most difficult in case of using free EAs?
Most difficult is to find good settings for them.
I did not backtest this EA in MT4 ... and I was very surprised that this account survived up to now since january last year.

I want to convert this EA to MT5 and use strategy tester MT5 (as I understand - MT5 strategy tester is very advanced)
to find good settings for the other pairs.
Because for now - ROI is 104% for starting deposit 2K. It means - we will get 4,090 totally for 1 year (2K + 2,090).
If we can find good settings for the other pairs (with same ROI for example) so it will be more profit yearly.  

since history and trading are history anf trading , not iphone, surface, kindle, pad.......

and deals and positions mode mode should be user's choice.