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Thread: Please can anybody explain how EA works?

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    In Profit cesar's Avatar
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    Default Please can anybody explain how EA works?

    hi, i read every thread that speaks about Expert Advisor....

    2 things in respect:

    1- i want to know where i can find it
    2- i want to know how setting up, and how to install into the MT$4 platform. (a little manual)

    I know that it sound stupid, but really i like to know those things, so i can prove it in my trades...

    very thanks!!
    Cesar

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    First, you need to aware that an EA is not a magic tool that could get you rich in an instant. an EA is simply set of codes to instruct metatrader terminal do do what is possible for metatrader to do such as open an order, modify, close orders etc.
    So it's depend on the strategy behind it. If it's good strategy, then it's a good EA, and vice versa.

    1. You can find it anywhere, there're a lot of free EAs on the net. But don't ask me about it's quality. You better find your own profitable system then code it by yourself or find a coder to convert your strategy into an EA.

    2. I'm a bit lazy to rewrite it, there're many information on the net about it, just ask uncle google. Or maybe someone else already explain that in here, you can use "search" feature.
    Last edited by Nitrotrader; 11-26-2007 at 05:33 PM.

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    thanks nitrotrader, i know there is no magician in any computer code.... what i want to know is the "how" works those kind of programs, or codes, and you just already explain me in you reply. Very thanks!
    In respect at where find some of this, i search, and i found nothing. But maybe, my searching was not good enough. I'll try again, thanks

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    In Profit webwareshop's Avatar
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    Hi!

    You can go to these sites and educate yourself more on your question and downloads of EA and scripts

    http://codebase.mql4.com

    http://www.forex-tsd.com/

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    Default

    wow interesting info . thanks

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    Angry Why do you think automated trading is better than manual trading?

    Hello

    Some are devoted to EA while some are licking their wounds on using EA.
    Now my question is:
    Why do you think automated trading is better than manual trading?
    Thanks for reading and I hope to read your reply 3dblob

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    well there are many free EA's which are really profitable....search in other forex forums......and i am sure they are better than manual trading

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    EA is just like robot. It strictly follow strategy rule design in it. Emotion may be cause of losing money.
    How to check quality of EA ?
    (1) Download history data of related pair from ur brokerage or any history center.
    (2) Open strategy tester in meta trader.
    (3) Select your EA and then select your currency pair symbol.
    (4) Chose time frame in period.
    (5) Choose Model (it should be every tick basis).
    (6) Set EA propertise (TP ,SP)

    I hope it help.
    Thread started by me.
    This is my town http://forum.fxopen.com/showthread.php?t=8483
    time to trade divergence http://forum.fxopen.com/showthread.php?t=8438
    Are u beginner ? http://forum.fxopen.com/showthread.php?t=8439

    For uploading chart and image
    http://tinypic.com/index.php
    sm_win Money is matter.

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    I got a very very stupid question..

    After we download an EA, which folder should we put? (I saved it at fxopen/expert/indicator .. is that correct?)

    and we have to click on the "Expert Advisors" at our mt4 platform, after that?? seem like nothing happen?? Where to see the signals?

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    Quote Originally Posted by denisetan View Post
    I got a very very stupid question..

    After we download an EA, which folder should we put? (I saved it at fxopen/expert/indicator .. is that correct?)

    and we have to click on the "Expert Advisors" at our mt4 platform, after that?? seem like nothing happen?? Where to see the signals?
    EAs go in the "Experts" folder. Indicators go in "Experts/Indicators" so I guess it's a little confusing
    Jafar Calley - Director
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    Quote Originally Posted by webwareshop View Post
    Hi!

    You can go to these sites and educate yourself more on your question and downloads of EA and scripts

    http://codebase.mql4.com

    http://www.forex-tsd.com/
    do you trust EAs on this site
    i mean would you use it on a real account

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    Quote Originally Posted by hamadatherock View Post
    do you trust EAs on this site
    i mean would you use it on a real account
    If you want to test an EA, try on demo or at most micro to lessen your risk.
    Jafar Calley - Director
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    why you want to know why they work
    we just want to know if it is profitble or not

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    Default

    Quote Originally Posted by RebateFX.com View Post
    If you want to test an EA, try on demo or at most micro to lessen your risk.
    speaking of micro account, is 'lot' unit in micro the same as 'lot' unit in standard?
    i mean.. in standard account, the minium trade size is 0.1 lot
    so in micro account, is it 0.001 lot?

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    Quote Originally Posted by prolog View Post
    speaking of micro account, is 'lot' unit in micro the same as 'lot' unit in standard?
    i mean.. in standard account, the minium trade size is 0.1 lot
    so in micro account, is it 0.001 lot?
    hello). The minimum trading volume for micro account is 0.1 MICRO lot (100 points of base currency). 1 pip with 1 micro lot trade is equal to 10 cents approximately. Balance on Micro accounts is indicated in cents.

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