MT4 Automated Trading

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MT4 Automated Trading Brokers
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MT4 Automated Trading - What Is It

These brokers offer the MT4 platform, providing support for automated trading. But what is MT4 automated trading ?

What is MT4 automated trading ?

MT4 is MetaTrader 4. This is a platform which supports both discretionary trading and automated trading. In discretionary trading the trader makes the trading decisions (at their discretion), though they may be following rules to do so. In automated trading these rules are codified into computer programs, which make the decisions for them.

Advantages of algorithmic (automated) trading include that the computer does not tire or make overly emotional decisions or other implementation errors, as even the most experienced human trader can. Disadvantages include that automated trading can produce large drawdown or ongoing losses, because the program cannot exercise discretion like the human trader and must follow the algorithm (set of rules) it is programmed to. These problems can be relieved by allowing the human to adjust strategies, but of course this brings back the human element.

MT4 supports automated trading by Expert Advisors (EAs) which are automated trading strategies. The trader can use EAs provided by the the MT4 community or can program their own. MT4 offers 50+ technical indicators on the platform, but more can be downloaded and the trader can also program indicators. MT4 provides charts with a range of tools, allowing the trader to trade with or without automated trading strategies. MT4 is known for automated currency trading, but it also supports a range of other market, including MT4 Bitcoin trading.