Setting up an EA (Expert Advisor) on SLM (SmartLive Markets) using MetaTrader4

This is a discussion on Setting up an EA (Expert Advisor) on SLM (SmartLive Markets) using MetaTrader4 within the Forex Net Trap forums, part of the Specialists' Corner category; We've had so many questions regarding the setting up of Spin's excellent EA on an SLM account using MT4 that ...

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Old Feb 4, 2011, 7:54am   #1
Joined Jun 2010
Setting up an EA (Expert Advisor) on SLM (SmartLive Markets) using MetaTrader4

We've had so many questions regarding the setting up of Spin's excellent EA on an SLM account using MT4 that I thought I would make the instructions clearly available on a dedicated thread.

I've made the instructions available for a while now in the monthly INT results spreadsheets that I post on this forum, but people still struggle to find them.

So here are the instructions, step-by-step.

It's really not difficult once you know how!
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Old Feb 4, 2011, 7:59am   #2
Joined Jun 2010
Re: Setting up an EA (Expert Advisor) on SLM (SmartLive Markets) using MetaTrader4

goldfinger777 started this thread Follow these step-by-step instructions to set up an EA on an SLM account, using the MT4 platform.

First, some definitions:

EA = Expert Advisor. A software robot that runs on the MetaTrader4 desktop trading application. The EA enables you to AUTOMATICALLY place and manage trades, without being at your PC.

SLM: SmartLive Markets. The broker we use to place trades using an EA. SLM is currently the only broker that supports the use of a MetaTrader trading platform on a SPREADBETTING account.

MT4: MetaTrader4. A desktop trading application. A bit like the web trading interfaces provided by IG Index, Capital Spreads etc, but it runs on your PC as a dedicated application, instead of in a web browser. And it has MUCH more functionality than the web based trading platforms.

So without further ado here are the instructions for setting up an EA on an SLM account using MT4:


1. Open a live trading account with SLM, at www.smartlivemarkets.co.uk.
2. Login to the SmartLive website, go to Settings and click the Enabled button to enable Expert Advisors. It might take a few days for SLM to activate this, chase them with an email if necessary.
3. Download MT4 using the link emailed to you by SLM in your account opening emails.
4. Install MT4.
5. Download the “FNTTrade EA.ex4” file from the “NetTrap Metatrader Expert Advisor” thread on the forum. Ensure you've got the latest version, there are several versions posted on the thread.
6. Copy the file to your C:\Program Files\Smart Live Spread Bet MT4\experts directory.
7. Launch MT4 and login.
8. Go to Tools > Options and select the Expert Advisors tab. Ensure only the following settings are ticked: “Enable Expert Advisors”, “Allow live trading”, “Allow DLL imports”, “Allow external experts imports”.
9. Find the following entry in the “Symbols” list on the left-hand side of the MT4 interface: “GBPUSDSB”. Important: if you want to spreadbet you MUST use the symbol with the SB suffix.
10. Right-click the GPBUSDSB entry and select “Chart Window”.
11. Click the “M15” button in the toolbar to switch the chart to 15 minute candles.
12. Next you need to add the MA40 to your chart. Go to Insert > Indicators > Trend > Moving Average. Set Period=40, MA method=Simple, Apply To=Close. Then click OK.
13. On the left-hand side of the MT4 interface is a “Navigator” list. Under the “Expert Advisors” entry you should see the FNTTrader EA.
14. Drag the FNTTrade EA over to the GBPUSDSB chart window (ensure the chart is set to 15 minute candles).
15. A dialog window is displayed. Select the “Common” tab and ensure the “Long and Short” option is selected for positions.
16. Select the “Inputs” tab and make the relevant settings according to how you want the EA to enter and manage the trade. Refer to Spindrift's “FNTTrader parameter descriptions” spreadsheet for descriptions of all the settings.
17. Click the Save button to save your settings as a .set file. You can save multiple settings files to cover each of the different variants you trade if you want.
18. To set the EA to trade, start MT4 at least a few minutes before 06:30 and drag the “FNTTrader” EA over to the GBPUSDSB chart. Click the Load button to load your .set file.
19. Click OK. After a minute or so the EA will load up in the chart and start analysing the chart for a trade entry based on the MA40. (Note you may have to adjust the chart colours in order to see the EA parameter text against the chart background).
20. Once the EA reports that it's placed a trade, it will manage the trade according to the parameters you've specified. If your EA is set to simply run the trade until it hits its stop or limit then you can exit MT4 and close down your PC if you like. However, if you've set the EA to manage the trade (e.g. exiting at 08:30, or moving the stop to breakeven), then you must leave both MT4 and your EA running on your PC throughout the duration of the trade.
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Thanks! The following members like this post: MaxiV
Old Feb 7, 2011, 2:34pm   #3
Joined Jan 2011
Re: Setting up an EA (Expert Advisor) on SLM (SmartLive Markets) using MetaTrader4

FNTTrade EA.ex4” , this is the file I can't get to open ??
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Old Feb 7, 2011, 2:45pm   #4
Joined Jun 2010
Re: Setting up an EA (Expert Advisor) on SLM (SmartLive Markets) using MetaTrader4

goldfinger777 started this thread
Quote:
Originally Posted by Almontana73 View Post
FNTTrade EA.ex4” , this is the file I can't get to open ??
Sorry I don't know what you mean by "can't get to open".

Why are you trying to open the file?

Read step 14 in the instructions on this thread. It says DRAG the file over to your chart.

Go through the instructions step-by-step,carefully.

Do NOT skip a step or skim-read the instructions.

If you do everything detailed in the instructions in the correct order, it WILL work.
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Old Feb 7, 2011, 5:40pm   #5
Joined Jan 2011
Re: Setting up an EA (Expert Advisor) on SLM (SmartLive Markets) using MetaTrader4

Quote:
Originally Posted by goldfinger777 View Post
Sorry I don't know what you mean by "can't get to open".

Why are you trying to open the file?

Read step 14 in the instructions on this thread. It says DRAG the file over to your chart.

Go through the instructions step-by-step,carefully.

Do NOT skip a step or skim-read the instructions.

If you do everything detailed in the instructions in the correct order, it WILL work.
on step 4 it says download the file , thats the one that wont open
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Old Feb 7, 2011, 5:41pm   #6
Joined Jan 2011
Re: Setting up an EA (Expert Advisor) on SLM (SmartLive Markets) using MetaTrader4

sorry step 5
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Old Feb 7, 2011, 5:57pm   #7
Joined Jan 2011
Re: Setting up an EA (Expert Advisor) on SLM (SmartLive Markets) using MetaTrader4

ive done everything now but on the left hand side where is says navigator there is no file which says FNTEA , i know it has sometinhg to do with step 5 where it syas DOWNLOAD the file as it wont down load . ive dragged it from the forum to the mt4 but still doesnt work ????????????
Any help would be appreciated.
Thank you
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Old Feb 7, 2011, 8:39pm   #8
Joined Apr 2008
Re: Setting up an EA (Expert Advisor) on SLM (SmartLive Markets) using MetaTrader4

Al, you seem quite new to the whole computer thing, never mind trading.

Firstly, you can't drag the file from the forum into MT4. As per step 4, the file must be placed in the following folder: C:\Program Files\Smart Live Spread Bet MT4\experts

For the avoidance of doubt, try the following link to download the file and save it to the destination I've given above. http://www.trade2win.com/boards/atta...rader_v006.ex4

Once you've done that, go back to goldfinger's guide and take it from step 7.
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