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A Guide to MetaTrader 5 Automated trading

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A Guide to MetaTrader 5 Automated trading

MetaTrader 5 was introduced as an improved and advanced version of the classic MT4 platform. MT4’s functionality was confined to forex trading only. Whereas, it’s successor Metatrader 5 was built to navigate through a number of markets including forex, commodity, stocks, indices and crypto. They both are still very similar to each other but MetaTrader 5 surely has an edge when it comes to the technical aspects. This superiority of Metatrader 5 makes it a perfect platform to run a fully automated trading strategy with ease.

What Makes MetaTrader 5 a Better Choice for Algo Trading?

In order to use the MT5 trading platform, one would need to create an account with a forex broker that offers the metatrader 5 platform. There is no doubt in the fact that MT4 is still the most preferred trading platform on a global level. The simple yet powerful interface of MT4 is still the best place for beginners to learn and practice using the essential tools for trading. But when it comes to automated trading, you are bound to notice the differences which would justify opting for MT5 instead of MT4.

Most of the newbies who step into the forex world must have taken their first trading lessons from a demo account on the popular MT4 platform. Almost every broker offers MT4 as their trading terminal. But lately brokers have added the advanced MT5 terminal to their platform to keep up with the technological advancement. So, one important aspect which you need to look into is finding a broker who provides the MT5 platform and supports algo trading as well. Now let’s look at the differences which make MT5 a suitable choice for automated trading.

While using MT4, you will see that the only option to automate the trading process is by running an Expert Advisor (EA). It can be rightfully referred to as a forex trading robot which takes up trades on your behalf. It is a computer program or algorithm that is specifically designed to enter and exit trades without manual intervention. These are just scripts that facilitate automated trading. Whereas, on the MT5 platform in addition to expert advisors, automated trading can be done through strategies too. It is different from just using a bot that executes commands. A strategy is built by establishing a set of rules that needs to be followed while trading. And MT5 will carry out automated trading based on the very same rules as per your strategy.

Also, MT5 as a trading platform has more advanced and improved charting options and it is more capable of supporting automated trading than the classic version. Another thing to mention here is that an algo strategy would be executed based on an order system on MT4. On the other hand, MT5’s algo trading function is based on a positional system, allowing traders to keep a trade position open for a longer duration in comparison to MT4. Taking all these points into consideration, it is quite evident that MetaTrader 5 happens to have an upperhand when it comes to executing an automated strategy with utmost perfection.

Basics of Algo Trading on MetaTrader 5

Getting started with algo trading on MT5 is pretty easy for anyone once you understand the basics of it. You don’t need to be a pro at programming in order to avail the benefits of automated trading on the MT5 platform. You can easily purchase or rent the trading programs of your choice or can even go for free download options that are available. You also have the option to test these programs before applying them in real-time market conditions.

Another interesting feature is that those who are unable to find a program that fits their criteria can even order a custom program from the professional programmers offering their services to MetaTrader 5 users from the freelance section of MQL5 community website. This will be fast, convenient and affordable at the same time.

In addition to Expert Advisor robots, one can also use scripts, services and custom indicators on the advanced MT5 environment. Combining all these functions together will surely optimize a fully automated trading experience without needing any human intervention.

Steps for Enabling Algo Trading on MT5 Trading Platform

  1. Click File → Open Data Folder and then click on the MQL5 folder to look for Expert Advisors. If you are opting for a custom program or scripts you will need to store them in this folder to use them.
  2. For launching an expert advisor/indicator you just need to double-click on it, or you can simply drag it to a chart. Then you can see the properties window of the selected robot. You can start using it by clicking ok. If you see a green icon appearing in the upper right corner of the chart, that means the robot or advisor is successfully launched.
  3. But if the icon is red, that would mean that the Expert Advisor is switched off. You need to go to the EA’s settings and the options of a trading platform & enable algo trading for starting the program.

Benefits of Automated Trading on MetaTrader 5  

  • Eliminates Time Constraints: One of the best things about algo trading is that you can eliminate the time constraints and save a lot of time by relying on an automated strategy. An expert advisor or forex robot can function 24 hours and catch good trading opportunities on your behalf even when you are sleeping. It will also enter trades based on the market conditions which will save you from the trouble of watching and analyzing charts all day.
  • Effortless Trading Experience: Even a newbie can avail the benefits of automated trading without any prior experience or knowledge. Automated trading does not have a prolonged learning curve like manual trading. All you need is the right EA and you will be able to make profits from favorable price changes that happen in the trading instruments.
  • A perfect solution to emotional trading: Manual trading does have some risk of engaging in emotional or impulsive trading. As humans we may not be able to suppress the feelings of fear, greed, frustration and stress. These emotions can often result in revenge trading which is very dangerous for a trader. Traders who have a hard time controlling their emotions during a trade can leave the trading process to an EA to eliminate the risk of deviating from their original trading plan. A robot is simply not bound by emotions or feelings. Hence, the psychological barrier can be easily removed by opting for algo trading.

In conclusion, we can say that MetaTrader 5 is becoming the new favorite trading platform for traders. Automated trading is one of the most highlighted features of MetaTrader platform and MT5 aims to provide a better algo trading experience to its users with its advanced functions. MetaTrader 5 has managed to retain the user friendliness of MT4 even with the added functions and advancements, which makes it even more accessible for both novice and experienced traders.

 

Rosario is from New York and has worked with leading companies like Microsoft as a copy-writer in the past. Now he spends his time writing for readers of BigtimeDaily.com

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Business

Transforming Sales: Tips from Gene Slade’s Student on Lead Ninja System

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Corbin Allen’s journey from a troubled past to a successful sales professional shows how resilience and good mentorship can change a life. With the help of Gene Slade, CEO of Lead Ninja System and Lead Ninja AI, Allen improved his sales skills and used new strategies to perform much better.

Lead Ninja System is a training program that helps improve sales skills, especially for people in the HVAC, plumbing, and electrical trades. It focuses on making sales more efficient and keeping customers happy through Slade’s proven strategies and hands-on training sessions. Lead Ninja AI is part of the Lead Ninja System and can have long, human-like phone conversations. It remembers details from past talks, making each call personal and consistent. This AI is flexible and works well for sales calls and customer support in the HVAC, plumbing, and electrical trades.

Here, Mr. Allen shares the important lessons he learned from Slade and how he used them to succeed. He gives practical advice for new salespeople. Allen keeps learning from Slade and now also teaches others at Slade’s live events.

Road to Victory

Allen’s journey is truly amazing. He was born into a tough situation and faced many difficulties from a young age.

“I was a product of a broken home,” he shares. “I never really had a mom physically present, and this led to some poor choices. I found myself in prison at 18.”

When Allen was 20 and got out, he decided to change his life. He started working on air conditioners, not knowing at first how much money he could make in sales.

“I was hired as a technician, but I realized the guys selling air conditioners were making significantly more money,” he says. “This moment was the start of my journey in sales.”

Discovering Gene Slade and Lead Ninja System

Allen’s career took a huge turn when he found Slade and the Lead Ninja System.

“Gene is the real deal,” Allen says. “Unlike many sales trainers who haven’t ‘walked the walk,’ Gene’s advice is practical and — most importantly — rooted in real experience.”

Allen first heard about Slade through a podcast and was immediately impressed by his insights.

“I decided to try his techniques, and they worked,” Allen says. “This was a total game-changer for me.”

Top Tips from Corbin Allen

Drawing from his experiences and the invaluable lessons learned from Slade, Allen shared his top sales tips with us to help our readers succeed.

1. Establish a Routine

Allen insists on the importance of a good routine.

“How you do anything is how you do everything,” he says. “Having a routine, setting aside time for yourself, and keeping a positive mindset are super important. Whether it’s going to the gym, meditating, or grounding yourself, find something that centers you and make it part of every single day.”

2. Adopt a Holistic Approach

A holistic approach to life and work is essential.

“You need to look at your life from all angles,” Allen says. “Focus on improving yourself in all areas of your life, not just in sales. When you feel good, you do well. This means you will have better interactions with clients and more successful sales. But you have to give all aspects of your life equal value.”

3. Develop a Solid Process

One of the most impactful lessons Allen learned from Slade is the importance of having a structured sales process.

“Most salespeople don’t have a clear process that they can use with every potential client,” he notes. “Gene taught me that having a standard process allows you to track what works and what doesn’t. It’s important to follow a consistent process in every interaction.”

4. Focus on Helping Others

Allen advises changing the perspective from selling to helping.

“Ask yourself, ‘How can I help this person today?’” he says. “When you really focus on providing help and solving problems for your clients, the sales will naturally follow!”

5. Continuous Learning and Adaptation

As a forever student of Slade’s teachings, Allen shares the importance of always learning and being open to adapt.

“Sales is always changing,” he says. “Stay updated with Gene’s latest techniques, attend his bi-weekly training sessions, through the Mastermind, and always be open to learning new things. Gene’s Lead Ninja Mastermind sessions are so great, and the Mansion Events are even better, because we practice in real life, just like it would be with a potential client.”

Allen’s Credentials and Achievements

Allen’s success under Slade’s mentorship is easy to see from his big achievements.

“From making $50,000 a year as a technician to earning over $200,000 in my first year in sales, the change has been incredible,” he shares. “This year, I’m on track to make over $300,000.”

Allen is also successful in his personal life. He built a stable and loving family, raising four boys with his wife, whom he met just three months after his getting out of prison. They were wed six months later.

“We’ve been together for over five years, and it’s been a steady climb,” he says proudly. “I hope through Lead Ninja, many men can bring together beautiful families like I did. I didn’t think it was possible when I was at my lowest. Now, I think anyone can do it if they work hard and believe in themselves. It helps to have Gene in your corner, too.”

The Power of Mentorship

Allen attributes much of his success to the mentorship he received from Slade.

“Lead NInja is ultra transformative,” he states. “Gene provides practical advice that is easy to implement from the jump. Plus, his process works for everyone, regardless of personality type.”

For those looking to copy Allen’s success, he offers this final piece of advice: “Find a mentor who has walked the path you want to take. Learn from them, implement their strategies, and always strive to better yourself. With the right guidance, anything is possible. I believe in us.”

Corbin Allen’s journey from adversity to success underscores the profound impact of effective mentorship and the power of resilience. By following his advice and adopting a holistic approach to life and work, aspiring salespeople can achieve remarkable success in the HVAC, plumbing, and electrical trades.

About Gene Slade

Gene Slade, CEO of Lead Ninja System, is a pioneering force in the realm of sales training and business development. With a steadfast commitment to empowering professionals in the HVAC, plumbing, and electrical trades, Gene offers transformative coaching experiences that revolutionize the way business owners approach sales and growth through personalized guidance, community support, and access to exclusive resources. For more information, please visit https://leadninjasystem.com/

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