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What is the difference between metatrader 4 and 5 – mt4 vs. mt5 ?

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Metatrader 4 vs Metatrader 5 – Which One Should You Use?

As it seems the traders are given a choice to make MetaTrader 4 vs. 5 while opening an account. Brokers can also make this decision. It’s up to the individual broker to make a decision for selection between MetaTrader 4 and 5 that must be accessible to traders or should support MetaQoutes terminal platform. Users are having usage experience of MetaTrader 5 (MT5) willing to make use of MetaTrader 4 (MT4). Most of the traders make use of most famous and older one platform known as Mt4, MetaQoutes has stopped introducing variations in their platforms, but has not made criticism or compel brokers to purchase a license for MetaTrader 5. Brokers who are keen of getting the issuance of MT4 License, MetaQOutes clogged the issuance of new MT4 License to those brokers on January 12, 2018, which means that these brokers have to make use of another platform or can accept MetaTrader 5. Decisions can become complex when there is an insufficient provision concerning the server capital for the existing Mt4 License Holders. Having this perspective, let’s make a detailed study of two types of terminal regarding their languages correspondingly.

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MetaTrader 4 vs. 5 deals with the substance of acquaintance, how much simple or easy to use and all MQL languages.
MetaTrader 4 vs 5 (MT$ vs MT5) Languages (MQL4 vs MQL5)
MetaTrader 4 was introduced globally in 2005 whereas MetaTrader 5 released in 2010. Language has similar syntax along with the prominent and major changes in keywords that distinguish both and make hard for an MQL4 file to function in MT5 smoothly and vice-versa of it as it implements the MQL5 and MT4.

MQL4 and MQL5 have many similarities with the programming language, C++. MQL4 has maintained its position or popularity in the industry even after the release of MQL5, which has helped a lot in distinguishing the programming language.
However, this feature makes the MQL4 and MQL5 interesting one and offers a flat contest to everyone because the programming language is such as which requires updates to programming languages like Python or Ruby. Variation in MQL4 and MQL5 give a meaning of going beyond the side of marketing from the MetaQoutes platform which is the major source of the promotion set it and forget it kind of tactics to make a trade with “robots” (Expert Advisors) and custom indicators. This kind of elevation creates hurdles for newcomers who just found out that their MT4 version has been updated or would find that their MT5 version will be updated and they seem like a real victim of the never terminated Software Development Life Cycle.
There will be no updates in MQL4, but there shall be continuous variation in MQL5. It will reduce the hurdles for newcomers who want to enter in MetaTrader 4. It all deals with the game of Relaxed and Comparative Limitations in Competence vs. Stimulating and Vigorous Aptitude.

Pros and Cons of MetaTrader 4 vs. 5 (MQL4 vs. MQL5)

MetaTrader 4

Advantages
There will be no variation regarding updates due to which no need to change or alter the programs comprise of new versions.
Expert Consultants and Indicators are independent to choose a file from the .mq4 file, and the — ex4 file for implementation.
MQL4 is of much benefit as it has seen that many brokers make use of MT4.
It’s pretty easy to code. Expert Advisor can make it is short and make a structure with ease.
Disadvantage
Variation in currency competences.
No circumventing proficiencies.
Overall, it is limited to the skills and capabilities that a terminal maintains.

MetaTrader 5 (MQL5)

Advantages
Language proficiency is improved by bringing some variations.
A rapid change in language syntax with the advancement in terminal technologies is a plus.
Hedging abilities.
Currency variation skills.
More stipend for more complexity.
Disadvantage
In the case of transitioning from MQL4, this is considered as the most difficult and complex language.
Libraries are important.
One expert can handle many libraries and the files attached to it.
Not anything is independent.
Most of the individuals are familiar to MQL4 are now moving towards MQL5 because MQL5 has more features and capabilities that are required at this time concerning the language structure and efficient building structure of programs compel others to learn a complex one as compared to the simpler one that is of no worth.
MQL does not demand a new programmer in mind, but it is a basic object-oriented language.
Languages can vary a little bit in their structure and syntax, of course, it demands to learn things from the very beginning while moving from MQL4 to MQL5. It is an impossible task for those people who try to convert .mp4 file in MetaTrader 5. Conversion tools fail in case of binding the huge divide concerning the code structure between Meta Trader4 and MetaTrader5. This is the matter where the structure of different files .mqh and .mq5 have to be made or sometimes various mq5 files to carry out the same task, but the real code is more vigorous incompetence, more important in backtesting.

MetaQoutes software has given an overview of MetaTrader 5 for almost seven years ago, but some traders exist who prefer to work on MetaTrader 4. There is a contrasting criticism on MT5 by the market contributors who say that MetaTrader is comparable to MT5 in its all functionalities. Then what is the major difference between MT4 and MT5?

Expert Values

MetaTrader basically designed for “over the counter” Forex tools like CFD whole, on the other hand, MetaTrader 5 was made for the stock instrumentation including shares, geographies and some other offshoots.
MetaTrader 5 platform has been made for the index of RTS standard interchange

Standards of opening positions
MT4: hedging – a lot of the transactions can be made by the trader that comes under the umbrella of multidirectional for the same tool and at the same time with the addition of place, one-direction trades. Traders know well about this process because this method involves reducing risks.
MT5: netting – the trader can make a trade of instruments in a single direction while multidirectional positions are not permitted.
A trader is allowed to open an account in MT5 and trade instruments too; except stock unavailability at this account.

Market Depth
MetaTrader 5 delivers market depth with the exchange of instruments that are being traded while from the other perspective MT4 only give a chance or an opportunity to make deals with the resources in ECN system like OTC. Both give an opportunity to traders to make a clear analysis of orders that how much have to deliver and how much have to buy, measure capacities of the gadgets, and deals with two types of trading functions:
Sell/buy instruments with the exchange of money at the spot

Place trading orders – remaining or pending orders to sell/buy a substituting tool at the fixed price
Market depth in MetaTrader 5

Market depth in MetaTrader 5

Market trade seems best to scalpers, traders who desire to perform high but a full risk trading because of market depth boost up the presentation of many people. Experts often make use of some special kind of trading tools for carrying out the processes.
Tester of strategies
MT5 gains multi-tasking and significant tester, who can execute the function by testing a portfolio, which grabs the attention of traders dealing with the standard market equipment. Quotes history can be recovered or downloaded in the terminal.
Testing results appear as a chart
MetaTrader 5 tester is given in MQL Cloud Network with the limitless contribution to make a calculation using tens of thousands of consistent PCs. A trader can only get this function if she/he has installed a special kind of application strategy Tester.

MQL4 vs. MQL5
MQL4 and MQL5 distinguishable from each other on the level of programming language platform. MQL4 is a language (MetaQoutes Language 4) basically used for machines, writings, and pointers used in MetaTrader 4. This language has limited scope as compared to the other languages, as it can be seen that this language is used for basic level calculations or simple commands.
MetaTrader 5 has a major focus on MQL5 language that is brand new, more significant and much closer or similar to the object-oriented C++. The syntax makes programming language easy to operate for developers: a trader can write code or can make changes in it, pointers and vigorous interchange by using MQL5 language under the platform of MetaEditor, as the language gives the countless opportunities.

MetaEditor – multi-tasking editors are available for the development and adjustment of trading robots and pointers
Custom advisor and trading advisors should learn to track the activities of a computer mouse and keyboard pointer, in case interrelating with some peripheral devices a special thanks or homage to the program installed in MQL5 for the event processing. MQL5 official website contains every kind of library, templates and most popular functions that are used frequently.

Conclusion
A time tested platform that is simple to use as compare to others with extra functionalities, basically considered for the Forex equipment, CFDs and some other OTC byproducts.

Prohibited by FIFO rule – close trade in Mt4 – problem fixed

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What does prohibited by fifo rule in mt4 mean ?
Sometimes when you try to close a trade in Metatrader platfrom you will get this error message in journal tab : “Prohibited by FIFO rule”. Using Mt4 platform as FXCM for example, you can see this problem very often especially if you are frequent trader.

Cause :

First In First Out simply means that when you have multiple positions in the same currency pair, the position which was first opened will be the first to be closed. This execution process is the common practice in the US equities and futures markets.


sort mt4 postions by timeHow to close a trade and fix problem :

Step 1 : Sort trades by opening time.
step 2 : See oldest position
Step 3: Close the oldest position and than the second opened position, etc.

If you want to avoid this problem pick Mt4 brokers platform which alow hedging (hedging is not prohibited) and platforms which do not have FIFO rule. Accounts without FIFO rule you can find at non USA brokers. For example, I had fxcm prohibited by fifo rule problem few yars ago and I fixed using this strategy.

FxPro SuperTrader service is not available anymore

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Important news :
FxPro SuperTrader service is not available anymore.Summer 2017.

Old Review :
SuperTrader social network for trading

More about fresh news read at Fxpro Review page.
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It was in 2006 when the FxPro was launched. Since then, it has become the leader in FX broker across the globe with more than a hundred and fifty nations on board. But, this platform has just been released at the latter part of 2013. FxPro is a social investment platform with the goal to provide the client and the investors a one of a kind experience that they cannot find with the other platforms available nowadays. They enable the investors to go over and copy the traders of the experienced traders thru their very own account with FxPRo.

Since SuperTrader is just available for FxPro users, You need a typical FxPro account to be able to come up with a SuperTrader account. It may sound good enough and very easy for a not so experienced trader. But, it is truly essential to keep in mind that SuperTrader accounts may only be used in US dollars. However, if you want to pick another form of currency for the primary FxPro account as well as vault. In the case of Great Britain Pounds, you must go through two different currency conversions if you will use US dollars. But if you would like to use the SuperTrader, you have to be sure that you pick the US dollar option at the base of the currency.

The truth is that the PF is now made available in US dollars only being its only limitation and for investors In the USA only who will be using US dollars as their primary currency. Because it is way too plainly that the investments they will have will be made available in US dollars to get started.

Getting to know who the SuperTrader Veterans are

As discussed earlier in terms with the goal of the SuperTrader, they are into providing their investors with enough access to be able to enjoy their Fx trader experience. The leaders may be companies or a person with the technique that provides and sends in the signals in a real time manner using the SuperTrader. It is so essential to keep in mind that all of the leaders are sending their signals from their live trading accounts. That simply means that they are actually putting their money at risk too.

The leaders on the other hand, went through a strict approval procedure method wherein the action of the trading method is being monitored accordingly to make sure that it is consistent and will adhere to the FxPro risk management direction. The leaders are normally paid around 5% based on their performance and for winning the traders they normally make in the accounts of the investors who copies their traders. This payment is typically done monthly.

Since the service being offered was fresh from the time of their primary review and most of the leaders only had a few history on FxPro it wasn’t really probably to give a comment regarding the conscientiousness of the platform during the selection process then. It has been said that this is just due to the fact that social trading service that has been reviewed and those who claimed to vet the trade leaders have turned out to be quite poor.

It was just too obvious that it must be kept monitored all the time and a proper upgrading must be handled. In the preliminary update held in October of 2014 just after the very first interview, it was noted that some of the methods just came and went by. There are certain no. Of techniques to consider and to lessen as well, by then it may be less than ten even if FxPro may be pro-active and may be vastly be eliminated among some other methods which may not be able to meet the criteria and the performance may deteriorate too before the damage has been done.

One of the in favored element about the body in FxPro Super Trader is that it is not just for them to trade using their money, but also for them to be able to work out about the cost that it will take you. Most of the leaders have balances in their account that contains more than 10,000 USD. That is quite untypical since some other social trading as well as trade copying networks usually do not share or divulge such kind of information.

At the moment, there are more than thirty methods that you may be able to copy and check. There are 2 kinds of FxPro or 3rd party techniques available nowadays. It is just that it is quite obvious that the SuperTrader methods listed as the FxPro were developed in an in house manner thru the FxPro whereas the 3rd party methods were made by the veterans outisde of the FxPro. At the moment, the best results came in from the 3rd party providers.

Supertrader video review:

The SuperTrade Risk & Money Management Features

As soon as you have decided to copy, you can just put the parameters on so you can keep track of the risks you will take.

1. The amount allocation must be in US dollar. That is the amount that must be in your account and the minimum amount should be not less than 500 USD, though there are some techniques that may require you to have a higher amount.
2. The ration multiplier should be on top of your list. You have to decide to be able to increase your risk.
3. The strategy max. Loss percentage is something that you also need to keep in mind. You will allow the trades to be closed and stop the technique from 5-30%.
4. TralingStop or equity percentage. This is somehow close to the past stop, however it will take into account the gains, so that the profits may be looked upon.

The FxPro’s SuperTrader guide can help you with the explanation it contains about the details along with the money as well as the dangers you will come across with when it comes to management parameters. You will be able to come across the scope of your account depending on the profile risk that you have to go through. As soon as you are into the techniques you can easily follow the performance of the account in a real time basis and you can also close the trades in a manual manner and so do open them the same way using the technique.

The SuperTrader Costs

When it comes to registering for the FxPro Super Trader, that is absolutely free and the spreads will be similar when you get to see the typical account. But that is if you will copy a technique coming from a third party and then you may be asked to pay for around 5% execution fee concering the trades that are truly lucrative. They will not mind paying for a certain amount for the profits that were made and think that the method used is just fair enough.

FxPro Support
Just as mentioned, there were issues in terms of the setting up of the SuperTrader account. They have found out that the support taken from the email and from the manager handling the account turned out good. Unluckily, the support from the call back feature may be incapable and useless as well. The answers seems to be coming from a template. The absence of a demo account may also be a appointment to the users, since they will be investing a real cash even before they see what is in store for them.

Social features

Social trading is composed of everything and that is from sharing the trade concepts with the others to copy the traders in an automatic manner from the others. The FxPro approach is quite limited when it comes to social interaction. But not until June of 2015, when the investors were able to give ratings to the methods that were followed.

Some advantages

? The leaders made a careful and critical study.
? The leaders trade real money from their own accounts
? The data that includes USD is truly clear.
? The leaders contain good quality that you can copy.
? Well managed risk account management controls
? Precise guide that can be followed
? Lost cost slippage

Some advantageous

? The accounts can only be used in US dollars
? There is no demo account available
? The primary investment is kinda high as $10,000 and up.
? Some techniques may require a high amount of min. Investment.
? There is no way to interact with the leaders.
?

To sum it up

The FxProSuperTrader is a social investment platform for those who are serious in trading. It is not meant for those who are just looking for something to play with, but it is meant for those who wish to invest their money amounting to more than $10,000 and up.

Important news :
FxPro SuperTrader service is not available anymore.Summer 2017.

Metatrader ex4 write error after Windows 10 upgrade – solved

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After 7 days – problem is solved and fixed!
After I upgraded Windows 7 to Windows 10 I started to use Metatrader. I created expert advisor EA, and after compiling I got : “ex4 write error”.
After that I tried to compile a lot of indicators and EAs and all of them showed the same – ex4 write error.
What this means :
1) Your disk is full and you can not write files. (in my case I have 10GB free.)
2) Folder permission doesn’t allow writing. (in my case everything is fine)
folder security permission
If you see that MQL4 folder allow for system and administrator to write files this is not problem.You can check this if you press in Metatrader (mt4) : File/Open File Folder and than in MQL4 folder you press Properties than go to Security /Advanced and see write permissions.

3) Metaeditor has bug. (This is problem in my case)
On Novemeber 12, Metatrader got new version. 4.00 Build 910. In this version Metaeditor has problem to write compiled files. It will be fixed in next days but meanwhile you need to fix problem.

Solution :
Copy metaeditor.exe file from older version to new version. This is all !!!
In attach you can download version which I use. This is only metaeditor.exe file which you need to copy in installation folder.

Please check new versions of mt4 and mt5 and check article about mt4 vs mt5.

Tips to reduce MT4 memory use

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Last several weeks I am getting a lot of questions about Metatrader high memory usage.A lot of traders use VPS for trading, signals, scripts. RAM memory is big problem.

What to do when MT4 is using a lot of memory? How I can reduce memory on VPS?

Problem example:
If you open 25 charts in MT4 and for example 500000 M30 records x 25 pairs into memory your MT4 terminal will spend 1GB memory in some moments.On other side events tabs, market watch window will spend memory too.

Solutions :
1) Go to Tools/Options and go to char tab and set like this:
Reduce memory in charts section in Metatrader 4 - mt4 memory reduction
This is the most important tip for memory reduction.

2) Remove Market watch window and go to Events tab (Tools/Options/Events) and uncheck :
disable event tab in mt4 - memory reduction

Try to restart VPS 4 or 2 times per month. I do that each weekend when forex market is closed.In that case whole VPS and Mt4 will refresh and work much better.