What is MetaTrader 4 Used For? (Beginner Traders)
What is MetaTrader 4 Used For is a free lecture from Forex Trading with Expert Advisors + 30 Best Strategies (Every Month). Enroll in the course here: https://eaforexacademy.com/courses/algorithmic-trading/forex-trading-with-robots-last-month-top-eas/.
What is MetaTrader 4 Used For?
The most common platform for algorithmic trading is Meta Trader. This is a free platform, and you can use it with most of the big brokers.
Why is it free? Meta Trader was developed by the MetaQuotes Company, and the brokers pay MetaQuotes so they can offer the platform to their clients. So it is free for us, the traders, because the brokers pay license fees for it.
This is how Meta Trader got very popular, and it is super easy to open a Demo account with any broker and to practice trading on the Meta Trader platform.
So after you have selected the broker, you need to download the platform from their website and install it on your computer. It is super easy to do it.
You download the exe file, and it installs with a few clicks.
Meta Trader is better suited to run on Windows and less so with Mac. But if you are a Mac user, I have written a blog article where you can read about what you need to do to install Meta Trader on Mac.
And, of course, there are free videos on the internet too. After you install the platform, you will see the prices, the quotes for the different assets, and you will be ready to practice.
However, I would suggest you complete the course before you do any trading because I will show you step by step how to use the Robots on Meta Trader.
And as I said previously, I will give you the Robots that performed best during the previous month, and I will teach you how to test them.
And the most popular thing with Meta Trader when it comes to algo trading is to do MQL programming. In other words, Meta Trader provides a tool called MetaEditor, where developers and traders can code Expert Advisors, scripts, and other tools that are applicable to Meta Trader.
So if you are a developer, that's great. It might not be very difficult for you to learn how to code a strategy and to use it. I don't find it necessary to have programming skills if you want to be an algo trader.
And this is because nowadays, we have strategy builders. These are programs that allow traders to automate their strategies by selecting the entry and the exit rules and to build the Expert Advisors from scratch.
Also, with the strategy builders, it is possible to generate new strategies and Robots, which is best.
And I will show you how I do that in the upcoming lectures.
What is MetaTrader 4 Used For and the course is included in our Packages:
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