MT5 beginners thread

Pat494

Legendary member
14,580 1,558
Hi
So I have rather dumped MT4 to continue with MT5 .

I will be looking at EAs in MT5 and hopefully find one that makes consistant profits.

It will speed up the process considerably if others can check out some too and post the results here.
 

Pat494

Legendary member
14,580 1,558
The demo at metaquotes.com for 5 has an expert called mama. I have just tested it on 11 forex pairs. Only 1 day but it produced 3 winners and 8 losers, with an overall loss. Not definative but not good.

On Monday I will test another of it's EAs called MAPSAR. Hope it will be better.
 

fatowl

Junior member
33 0
Pat494, MetaTrader is something I definitely want to try in the future. It's just that this damned Amibroker is working for me so well, and I'm profitable and everything... Gosh darn it. Lol.

Haha just playing. I don't think it matters what platform you use so long as you're comfortable with it. A good system will work on MT4 or MT5. Are you backtesting these EAs far in time? Like multiple years? Or are you just testing the previous few days, weeks, and months?
 

Pat494

Legendary member
14,580 1,558
Pat494, MetaTrader is something I definitely want to try in the future. It's just that this damned Amibroker is working for me so well, and I'm profitable and everything... Gosh darn it. Lol.

Haha just playing. I don't think it matters what platform you use so long as you're comfortable with it. A good system will work on MT4 or MT5. Are you backtesting these EAs far in time? Like multiple years? Or are you just testing the previous few days, weeks, and months?

Um yes I have just realized that I should really use the EA tester and on a longer period. Stupid me.

There are so many out there that it will take a long time to go through them.
 

fatowl

Junior member
33 0
Um yes I have just realized that I should really use the EA tester and on a longer period. Stupid me.

There are so many out there that it will take a long time to go through them.

Yeah there are way too many to count! I know that there are some EAs that work and some that don't depending on your trading instrument(s) and timeframe. I think it would be more effective to analyze common characteristics between your chosen trading instruments and then decide on an EA. For example, small-cap stocks are more likely to be volatile than large-cap stocks. So you could take advantage of that with an EA that enters on low volatility and exits on high volatility.
 

boystyles

Newbie
2 0
Also with me. Um yes I have just realized that I should really use the EA tester and on a longer period. Stupid me.
 
Last edited by a moderator:

Pat494

Legendary member
14,580 1,558
Well I hardly thought I would find an EA that looks good so soon. It has been turned on for only about 1 hour today. This is an inbuilt EA on the MT5 platform called MAPSARSosize
 

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Pat494

Legendary member
14,580 1,558
Well I hardly thought I would find an EA that looks good so soon. It has been turned on for only about 1 hour today. This is an inbuilt EA on the MT5 platform called MAPSARSosize

A bit premature because it is now down after increasing the lot size too !! One to avoid imho

 

Pat494

Legendary member
14,580 1,558
The demo at metaquotes.com for 5 has an expert called mama. I have just tested it on 11 forex pairs. Only 1 day but it produced 3 winners and 8 losers, with an overall loss. Not definative but not good.

On Monday I will test another of it's EAs called MAPSAR. Hope it will be better.

Yesterday's test produced 6 winners and 6 losers with an overall profit.
 
 
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