If you are to trade automatically with EA, if you install MT4 and set up the EA you want to use, you are ready for automatic trading. In many cases there are parameter settings in EA, if you set the parameters automatic EA is ready. However, there are some things you have to do to make it run, so this time we will introduce the procedure.
Install the MT4
First of all, it will not start unless MT4 is installed.
If you are using VPS, install it on VPS, if you have a home PC or tablet, install there. Those who downloaded and installed from security company or Forex company of their own account, logging in often goes smoothly.
Set the EA
If you can install MT4 successfully and run it, log in with your account. Log in and confirm if MT4 is communicating with the server. Communication is confirmed if the icon on the bottom right is green, and if it turns red it is not connected so please check again whether the account correct.
Next, download the EA that you want to use and prepare it. When using EA with MT4, it will not operate unless it is placed in the data folder of MT 4. You can follow the path from the desktop to find the folder, but there is a folder called "Open Data Folder" in the file item of MT4 menu, so you can reach the data folder as soon as you click on it.
Place it to the folder called Experts in the data folder. Let's follow the data folder → MQL 4 → Experts and put the EA there. You can use copy paste even if you are using VPS.
When EA is set, let's display the name of the EA placed in the navigator item. Once the name is displayed here, you will be able to use EA in the MT4 for the first time. Although you can display it by restarting MT4, it is troublesome to reboot every time, by right clicking on experts in navigator, the update item comes out, so if you click on it the latest updated names of EA in the Experts is displayed.
Operate the EA
Up to this point, you’re almost done the preparation to operate the EA. To activate EA, display the chart of currency pair you want to use. The currency pairs supported by EA are fixed, so the charts you choose will be decided naturally. If the time frame to be used in EA is specified, the time stick of the chart is also kept as it is.
Drag the EA displayed in the navigator and take it to the chart. When you drop it, the parameter setting item will be displayed. In the general tags, there are setting items such as Lot number and magic number during trade in the parameter item such as whether automatic trade is allowed. When all settings are over, pressing OK will finally start automatic trading.
Depending on the EA logic, you may not start trading immediately even if you set it, so wait patiently without doing trade right away.
Points to note when using EA on MT4
There is a case where EA is not activated even if it is set. There is a possibility that the setting is wrong. When doing automatic trade, it is necessary to allow automatic trading in the EA setting and on the MT4, so check if an alarm comes out.
Even if you set the EA, there are several reasons why it will not start a trade no matter how much time passes. First of all, it is not connected to the server or the server itself is not operating. Make sure that MT4 and server are communicating.
If there is an alarm and there is a problem with the EA, it is necessary to report it to the developer and correct it. Also, if you made errors in setting parameters, you may not trade indefinitely. This is because depending on EA, you can set a value to trade at the market price. For example, if you set to trade with USD / JPY at 100 yen or more and if USD / JPY at present location at 99 yen or less, the trade will not carry out no matter how much time passes.