MetaTrader 4 (MT4) & MT5 software trading platforms are easy to use online trading platforms with technical analysis capabilities. They were specially designed for online trading with the development and operation of automated trading systems in mind.
The programs have the ability to have expert advisor's (EA'S) plugged into
them to fully automate the trading process, thereby creating a fully
functional mechanical trading system. Your very own forex robot that
trades for you. They can of course also be setup so that they can used in a semi automated fashion in conjunction with manual trading.
Traders using MetaTrader have the choice of;
MetaTrader was Developed by MetaQuotes Software Corp (www.metaquotes.net)
MQL4 Introductory course
Developing your own expert advisor system / forex robot will require some knowledge of MetaQuotes Language 4 (MQL4). For those whom have no previous programming experience but would like to learn there is a free book written by Sergey Kovalyov "MQL4 Introductory course" which is an excellent publication that starts at the beginning to make the learning process easier to understand. Click here for a copy of this free course
Expert Advisor Builder for MT4
If you don't want to learn the programming language MQL4, a fast alternative is to use this 'Expert Advisor Builder'... Easy way to build your expert advisor.
Or get a programmer to build your robot for you here.
Or buy an inexpensive software EA builder that can creates Expert Advisors without the need to learn programming. Find a few recommended software companies on this page here.
If you would prefer to become an expert in the MQL language, Steve Fleming offers a video course specifically designed for new comers whom would like to learn through video instruction how to write the source programming code themselves. Read more here.
Backtesting in MetaTrader
It is also very important to understand how to backtest and optimize a trading strategy properly. Most traders think they know how but don't really understand the importance of "walk forward" testing. Read a bit how it works here.
They now have MT5 available.
Free Expert Advisor Robots
ForexMT4.com hosts a library of free expert advisors. To get your free EA go to www.forexmt4.com.
Also try www.richpips.com
Where to Download MT4 Software
The actual downloading of the MT4 software is best done through your own chosen forex broker, assuming they utilize this platform.
There are currently hundreds, if not thousands of forex brokers whom utilize the
MT4 software. In addition, many other brokers adding the software to
their firms daily.
For information you need to know about choosing a forex broker, click here.
To view the features of Version 5, it is available at www.metatrader5.com.
Further Help and Assistance with MT4 & MT5 automated trading
Excellent content and member posts can be found at the MQL4 Community forum at http://www.mql4.com. www.mql4.com.
Also, the forum at forex-tsd.com has plenty of help and resources. www.forex-tsd.com.
Also, brainyforex articles here.
To consider strategies to program into expert advisors go here.
To review actual system results for the 2008 Automated Trading Championships and find out what made the top three forex robot systems so good click here.
Need help setting up your forex trading robot?
Hands on assistance is available for those whom would like a forex expert to set up their forex trading robot for them. Go to www.fxinstall.com.
Advanced Metatrader user and would like to go public with your EA?
Read about the journey of how a couple of traders found out there was a lot more work involved than they had imagined in releasing their private trading system to the public here.