I have a Swap long negative and I have a Swap short positive. You will see below that I have some details about the asset. If I right-click over the Market Watch, over the EURUSD and I click on Specification, Right-click over the asset and click on Specification Let’s see, how much is the swap, for example, for EURUSD. In other words, if they hold your position overnight, you may benefit from that. It is the same thing if you sell, but some brokers will give you actually a positive swap. This is the fee that the broker takes if it transfers the trade to the next day. If I buy EURUSD today, for example, I hold the position overnight, and I close the trade tomorrow, I will be charged a swap. The swap comes if we hold our position overnight. The other cost that we pay the brokers is the swap. This is very normal and it is important to know when you are trading with Expert Advisors. Therefore, the broker will benefit from the difference between the Buy and the Sell prices. If I close the position at that moment, I will be closing it on the Bid price. And when we sell the asset, we sell it at the Bid price, which is the cheaper price.įor example, if I buy one trading lot at the moment at the price of 1.1860 and the price rises to 1.1960, this will be 100 pips of a profit. The Bid and Ask priceįor beginner traders, when we buy an asset, we buy it at the Ask price or this is the more expensive price. This is the difference between the Bid and the Ask price. ![]() We don’t pay any monthly fees, charges, and so on. The brokers pay the MetaQuotes Company and the brokers provide the platform to us for free. It allows algorithmic trading, which is very important, and it is free. I have selected MetaTrader 4 for most of my courses because it is the most common platform for trading. This is how the MetaTrader platform looks like after you install it. Now, let’s jump into this MetaTrader 4 tutorial for beginners Otherwise, terminal will use the previous version of the expert, the non-modified one.Later in this lecture, you will be able to download a MetaTrader 4 tutorial in PDF and learn how to use the platform with examples. After the expert source code has been modified, one has to recompile it and get a new executable EX4 file. At that, the experts editor will open where the source code of the selected expert. To start editing of the existing expert from the terminal, one has to execute the "Modify" command of the "Navigator Expert Advisors" window context menu. This means that this expert cannot be used. If the expert has not been compiled successfully, its icon will be gray. The list of compiled experts can be viewed in the "Navigator Expert Advisors" window in the client terminal. ![]() As a result of successful compilation an executable program file with *.EX4 extension will be created and saved in the /EXPERTS folder automatically. To do so, one has to execute the "File Compile" command in the expert editor, or press F5 or the button of the toolbar. At this moment, one can start to write the expert code.Īfter the expert development has been completed, it must be compiled. The source file (*.MQ4) of the expert will be saved in the /EXPERTS folder of the client terminal automatically. To add a new parameter, one has to press the "Add" button or the "Delete" button to delete a parameter.Īfter that the new expert window with the defined inputs will open in editor. One has to flag the "Expert Advisor" as a type of object to be created and fill out the following fields: To launch the expert editing program, one has to execute the "Create" command of the "Navigator Expert Advisors" window context menu, or the "Tools MetaQuotes Language Editor" menu command, or press F4 or the button of the "Standard" toolbar.Īfter that, the Expert Creation Wizard will be opened automatically that allows to immediately start working at a new MQL4 program. ![]() To create experts, one has to use MetaQuotes Language 4 (MQL4) and MetaEditor.
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