Use MetaTrader To Build Your Own Automated Forex Trading Robot

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.

Metatrader 4 screen snapshot

Traders using MetaTrader have the choice of;

  1. Using the platform manually without an Expert advisor attached. (Manual Trading) or
  2. Purchasing an expert advisor program(s) and plugging it into the MT platform or
  3. Obtain free expert advisor program(s) through forum member groups or similar interest groups on the internet or
  4. Developing their own expert advisor program(s) or
  5. All of the above or any combination thereof. It is also possible to setup several expert advisor programs trading at the same time as well as trading manually. (attach each different EA to their own chart along with different order numbers / magic numbers).

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

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

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, brainyforex articles here.

Trading Strategies

To consider strategies to program into expert advisors go here.

Trading idea's from the 2008 championship winners

Forex Robot Winners 2008

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.

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