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Thread: MT4 or MT5 which one would you prefer ?

  1. #16
    Intraday Master cafedeart's Avatar
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    to create MQL5 EA all u need to be familiar with its code base, here the official MQL5 code base page link http://www.mql5.com/en/code
    And this is for official MQL4 code base source : http://codebase.mql4.com/
    hope this will help those who wanna create or try to create their own EA or programs in fx.
    Google search can easily find those links for u, i knew that, but still i shared those here. 'coz attitude "share" is bit correlated with attitude "care". I love u all and i wanna share u my knowledge. so it is.
    thanks.

  2. #17
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    Making ea is tough job indeed as we need to learn the language and its coding. A better alternative is to hire someone to make ea for us. This will save our time and effort.

  3. #18
    Intraday Master qlinks's Avatar
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    New technology always come with something new and would therefore be more preferable. But with mt5 this has not been the case. Even at this point I would still prefer mt4 than mt5 even for one reason. And that is mt5 does not allow hedging.

  4. #19
    Bullish renggajp's Avatar
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    Master I wanted to ask you,,,
    what the main advantages of metatrader5 than mt4 most visible?
    if i have mt4 account and I want to move into account MT5 what it could be?
    I have never tried MT5, even in the demo account though, thank you

  5. #20
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    I have never used EA and i am interested in how to use it. Somebody to help me ?

  6. #21
    Intraday Master aditya's Avatar
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    you can use mt4 EA for mt5. just fix few script in mt4 EA. you can migrate just in few step. tutorial for migrating mt4 EA to mt5 EA you can find in www.mql5.com/en/articles/81

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    Quote Originally Posted by CPA View Post
    I have never used EA and i am interested in how to use it. Somebody to help me ?
    dont go that way , its a lossing way , automatic trading is a 99% fail way

  8. #23
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    Quote Originally Posted by aditya View Post
    you can use mt4 EA for mt5. just fix few script in mt4 EA. you can migrate just in few step. tutorial for migrating mt4 EA to mt5 EA you can find in www.mql5.com/en/articles/81
    I itself, to move from mt4 to MT5 there are still some things to think about, besides ea has to be changed, we must also transferred account to the server MT5

  9. #24
    Bullish 4EverMaAT's Avatar
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    Metatrader 5 will blow metatrader 4 away, once it gets popular. True 64-bit support, some (not great) debugging, connectivity to real exchanges without the need for extensive hacks/bridges. c++ programming language, which will be easier to create dlls and integrate into other software packages. Net positions accounting (no hedging of the same instruments) actually is a blessing. The whole hedging thing is more of a trader preference. Mathematically, you lose money when you hedge vs offset (pay two commissions, two spreads, and you take some or all the risk off of your broker's shoulder). And you can offset your total positions (flatten) much faster than having to close out each individual ticket. Mt5 is designed to handle an ECN/organized exchange environment, MT4 was primarily designed for market makers.

    Really, MT5 is what mt4 should have been first in terms of functionality. But as with any software development, there are stages. Mt4 certainly revolutionized retail forex, and made automation accessible to the masses.

    It will still be several years before mt4 is replaced, so there is no need to rush out and replace your indicators/EAs.
    Last edited by 4EverMaAT; 05-25-2012 at 02:37 AM.
    "Awareness is the first step because without that, we will eventually lose our account balance and have no idea how it happened" -AwarenessForex

  10. The Following User Says Thank You to 4EverMaAT For This Useful Post:

    ilearn2t (05-25-2012)

  11. #25
    sofeenevu
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    i tried to use MT5 for only two days, but its quite tough to use for me. because most of the EA things which i used in MT4 are not supported on MT5 because of MQL5 that's why i shifted back into MT4.

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    Hello 4EverMaAT

    Thanks for your great input on this subject.

    MetaTrader is used by over 450 brokerage companies and banks all over the world, but up to April, 2011 only 50 companies had signed up for the new version with over 400 remaining on MT4, but until the cost (rumored to be around $500,000) is dropped for selling the MT5 to each brokerage firm, I think a lot of brokers will not change over, also hedging is part and parcel of most traders lives, so this also will swing brokers in favor of keeping the MT4.

    Good luck
    ilearn2t

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    Market Maker cool user
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    I am still hope mt4 still used few years later before replaced with new version,but maybe for preparation,we can try use mt5 even though for demo account,actually i want try it and installed in my pc,but two times trying download software my connection get disconnect,so i am canceled

  14. #28
    Bullish 4EverMaAT's Avatar
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    Quote Originally Posted by radex78 View Post
    I am still hope mt4 still used few years later before replaced with new version,but maybe for preparation,we can try use mt5 even though for demo account,actually i want try it and installed in my pc,but two times trying download software my connection get disconnect,so i am canceled
    Mt4 has a long way before it is completely replaced. MT5 will run along side mt4 for several years, allowing people to make transition over when they are ready.
    "Awareness is the first step because without that, we will eventually lose our account balance and have no idea how it happened" -AwarenessForex

  15. #29
    sherani
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    yes i will prefer mt4 because it is still the best on for me for me and untill now it is easy to use and it is very easy to open any type of order and any time.

  16. #30
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    Quote Originally Posted by ashvini View Post
    Well now that we have both the MT4 and the MT5 trading terminals available on almost all the brokers and here in fxopen as well. Which one do you prefer for trading and why ?

    I prefer using MT4 platform still, because am much comfortable handling it and it is very much user friendly.

    I did not use mt5 yet. I just use mt4 . It is very comfortable . Many traders use mt4 in their trades . It is much user friendly and had all features that required for trading

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