Metatrader for the new traders from Automated Forex trading + 99 Expert Advisors

Metatrader for the new traders from Automated Forex trading + 99 Expert Advisors

Hello dear traders, this is Petko Aleksandrov and I start with the first lecture in the course. And I will
dedicate it for the very newbie traders that are just starting, that don’t have
any experience in trading. And I will show the most important things in
trading with Meta Trader, with algorithmic trading. And I will explain
the basic specifications and terminology that you need to know. But of course I’m
not going into any theories and hard things to remember. I will just show you
the very, very practical thing what you need to know before start trading. So, the
platform that I have opened in front of me is called Meta Trader. This is one of
the most common platforms among the brokers nowadays. For the clients, for us
– the traders it comes for free. So, the brokers are paying to the MetaQuotes
company which has developed the Meta Trader. And the brokers are offering it to
the clients, the traders for free. So, we don’t need to pay using the platform.
What makes this platform different from the web based platforms, is that we can
attach the Expert Advisors to the trading chart and they will trade for us.
What is Expert Advisor? I have written one article actually recently about it.
Actually you can find many of my articles for free and there are videos
inside. If you go to, this is our website, and you go to EA
blog you can see here the article. So, you can see the recent one is Expert Advisor-
the reality and there is video free in YouTube and there is the article below.
And you can read more about it and get familiar with the algorithmic trading
with the Expert Advisors. Or you can have a look at the other articles that we have
over here. And we do our best to upload couple of articles every week. So, you
have free access to it and you can read more about it. Now, with
simply words Expert Advisor is the automated strategy. When you have any
trading strategy which opens the trades according to some indicators or
conditions you can always automate this strategy. But here we don’t do this. In
this course I will provide the Expert Advisors and I will just show you the
whole process how we are generating strategies over the history data that we
have. But the whole idea is that when we place Expert Advisor over the chart or
the so called robot you can trade automatically without the need to stay
in front of the computer and to execute the orders manually. Now, what you have on the chart? Here on the right side is the price and down is the time. So, if you
take the cross here you can see at any moment what was exactly the price. Now,
there are some indicators here. They are just random indicators that came with
the Meta Trader. These are the candles here, you can see these black and blue
candles. You see four important values of each candlestick, this is the opening, the
close, the high and the low. And when I put the mouse on the closing you can see
the values exactly. So, each one represents 15 minutes if we are on M15
chart. If I go to H1, each one candlestick will represent 1 hour. On
the left side what we have, is the market watch? So, here are all the symbols that
we can trade with this broker. If you don’t see too many, you can right click,
select show all. So, this will show all the symbols that your broker is offering.
By dragging it over the chart you can open it or right click and chart window.
And here what we have are two columns- the bid and the ask, and the third one is the spread. You can actually hide it with right mouse again. But I prefer to see
the spread at any moment. So, the spread, guys, is the difference between the bid and the ask price. Normally, when we execute any
order we buy on the ask price and we close on the bid price. And the other way
around- when we sell, we sell on the bid price and when we close the position we
close it on the ask price. So, the spread is how the broker benefits. Of course, if
it is not a market maker broker. Now, you can see with this broker that I have
chosen the spread for the currencies is very small below one pip. So, what is
the pip? Here I will explain as well, the pips are the third and the fourth digit.
So, if you see at GBPUSD I have a price of 1.4060-61. So, this 60, 61 these
are the pips. And the last one, the fifth digit this is the point. So, normally when
we pronounce the price we say 1.4060. We don’t say the last digit. And
you should look for brokers that are having smaller spread and especially for
the major currencies it should be not more than one pip. The other cost that
we pay to the broker is the commission. But not all of the brokers have
commission. So, for every trade opened they will charge you a very small fee.
But normally what happens is that the brokers that have commission, they have
small spread. And the ones that don’t have commission are having a little bit
higher spread. So, at the end of the day it’s one and the same thing. But look for
the brokers that have very small spread. This is very important when it comes to
algorithmic trading. The other cost that we pay is the swap. So, when you keep a
position overnight if I open a trade today and it closes tomorrow I will be
charged as well from the broker with a very small fee that they transfer to the
position for the next day. Now, here you see this columns type size, symbol price,
top loss, Take Profit. This is where we will see later on in the course
the open positions. And as well here you see
the balance, this is a demo account that I have opened. Where later on in the
course I will place the top Expert Advisors. And here you have the balance,
the equity and the margin. So, when we have positions opened you will see your
equity growing or going down according to your profit. And the margin is how
much is blocked from your account when you are trading. So this is a leverage
account, with leverage 1-2000 which means that I can open
positions 200 times bigger than my balance. Of course, we don’t do that. We
always trade with small risk from our account. We don’t risk all of the money
because obviously this is very risky. So, the leverage allows us to trade
bigger amounts but we don’t risk all of the money. We always try to stay with
risk below 5% and even 2%. This is very, very important. Now, in this navigator is
the place where we have our accounts. So, for this course I have selected to use
JFD broker. It’s a regulated broker, but don’t take it as a recommendation, guys.
It’s a personal choice with which broker you want to trade. Just look for the
regulated brokers. And I would like to show you as well in our website if you
go to the forum, there is a nice topic that says “How to recognize the scam
brokers?”. Because nowadays there were many scam brokers and we have written this
few months ago. And it turned out to be very useful for many traders because
below you can read more that many people suffered actually from the scam brokers.
And it’s really horrible because people are just losing money. So, take a minute
to look at it, it’s very useful. So, you will know if you meet a scam broker
actually how to recognize it. I’m not going to read it now but it’s very
useful and of course if you have hard times to find a broker drop us an e-mail, write at [email protected] and my team will help you with
finding some good broker. And we will be very happy to protect you from the scam
brokers. We have done it already actually with thousands of students which makes
me very happy by the way. And one more time please don’t take this broker as a
recommendation I just had to pick one in order to shoot this course and of course
the other courses. But the most important thing is to look for regulated broker
with small spread. Now the other thing here you can see is the accounts of the
broker that you have, the indicators. OK? You can use, but we are not going to use
any indicators to place over the chart and to trade with them because as we
said we will be trading with the Expert Advisors. So, here is where we will place
the 99 Expert Advisors later on in the course. And below is the scripts folder
where you can use different scripts and I will show you how to use one and
actually I will attach to the course one. And this script will help you to export
the history data from the broker. But this is the thing we’re going to talk
about in the next lecture. OK guys, so pretty much that’s it. This is the
Meta Trader platform, many free videos over internet how to use it. That’s why I
am not going in details how to use the Meta Trader. Anyway, later on in the course you will see much more things about it and if you have questions of course you
can always ask me. And in the next lectures I will show you in another $10 000 of a demo account how we do the whole process of creating the
strategies. OK, thank you very much for watching and let me know always if you
have any questions. Cheers

One Comments

  • Steve Smith

    July 21, 2018

    Great, you seem very knowledgeable.


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