Climate Finance

Trading robot / EA (Expert Advisor), the topic I have discussed a little in the previous discussion. With the title 'Trading robots vs manual forex trading. This time we discuss how to use it on the Metatrader 4 (MT4) trading platform. This discussion focuses on practice rather than theory.

How to Get a Forex Trading Robot

Alright, let's start with determining a free trading robot or free EA/expert advisor first. Many free EAs can be obtained from forex forums.When entering the dashboard click 'market' then under meta trader 4 click 'expert' then right-click 'free'. Then many free trading robots will appear. You can filter/filter the type of best trading robot you want to use.

Then filter again at least 4 stars to get a good EA. Continue to click 'find'. Choose one, for example, I chose 'SRB grid'. This EA is called SRB because it uses 3 indicators as triggers. Namely S (Stochastic), R (RSI), and B (Bollinger bands). In general, these types of trading robots are grid and martingale. If you don't understand how to use it, it's very dangerous to balance.

How to Apply Robots In Forex Trading

On mt4 select it and click 'strategy tester' then it will appear at the bottom. Select the EA to be used, symbol (pair), model (use every tick for the most accurate results), tick use date (testing date), tick visual mode to see the backtest process. To change EA settings, just click 'expert property' on the right. After the backtest is complete, see the results, graphs, and reports to analyze.

For forward test (ft) or forward test, we just plug it in a demo or real account and see how the EA works. This ft method takes a long time to find out the results. While the bt method can see the results in a short time.

How to operate an EA or expert advisor

There are many parameters contained in an EA, I will discuss in a special discussion about how to set up an EA. Next, we assume we've found a suitable setting for our robot. Then try the EA's performance on a demo account. Tips for operating a forex trading robot. It is mandatory to turn on a laptop or PC that is connected to the internet continuously so that the robot can work.

Or rent a VPS (Virtual Private Server) which is a virtual PC that we can access from a PC via a remote desktop connection or through a smartphone with the RDP application. For the detailed method, see the discussion on how to use a VPS for forex trading.

Tips for using EA in forex trading

Although EA can run automatically, it depends on the program that we provide. So be careful entering parameters, especially lot size, basket take profit, multiplier (for ea grid and martingale). It is highly recommended to do a backtest and then save the test results. How to save the settings is by clicking the 'expert property' on the right.

Then click save and open a file explorer where the settings are saved, name them according to taste and save again. The file will be in the form of the filename.set, if you want to use the settings, just load it by clicking on the expert property.

Use a trusted VPS, I recommend using a VPS from a social VPS or computer city. That's what I usually use so far. For those who are new to using robots. I recommend using a free trading robot and installing it on a demo account.