Boosting Your Forex Tool Capabilities With MT4 Expert Advisor
As traders are getting more sophisticated, so is the advancement of trading platforms and MT4 Expert Advisor. The problem is that the strategies used by the traders are getting more complicated with steps that the advancement of trading platforms is unable to handle. So what is a trader to do to solve his problems? Using MT4 Expert Advisor creatively could be the solution to a trader’s problems.
Challenges Without Using MT4 Expert Advisor
Let us talk about the limitations of a MT4 platform first:
1) Trades have to be placed manually
2) Pending orders made are restricted to just horizontal lines plotted
3) Traders are ‘conditioned’ to think that technical analysis is just based on horizontal lines only due to usage of MT4
4) Existing Forex tools are limited in MT4, restricting traders to a few execution methods
5) Even with the availability of MT4 Expert Advisor feature, it is hard for a typical trader to develop his own MT4 Expert Advisor due to possible lack of programming knowledge
Furthermore let us look at what a typical trader might go through:
1) Too time consuming to monitor charts all day long for signals
2) Stuck at the seat for too long to execute a trade waiting the right signal to come along
3) Afraid of pulling the trigger to enter or exit due to emotions
4) Trade management too stressful to handle whether in profit or loss
5) Tedious of having to manage several signals and trades across a number of currency pair charts
6) Unclear and complicating trade signals which trader unable to spot clearly (visual)
7) Forex education too expensive and professional forex tools unavailable
In short, this is what happens to a typical trader:
MT4 limited trade placement capability -> Improper support and resistance levels drawn -> Sub-standard technical anaylsis -> Poor trade signals generated -> Poorly executed trades that will result in huge losses.
So what a trader needs to do urgently is to:
Boost MT4 trading capabilities through its charting tools -> Proper support and resistance levels drawn -> Excellent technical analysis data collected -> Higher accuracy of trade signal generated -> Precise execution with minimal losses to huge profits reaped.
Develop Forex Tools Using MT4 Expert Advisor
In order to achieve such a state, a trader has to use the superb open-based feature which is the MT4 expert advisor. This is to tap upon the potential of customizing his own trading tool to suit his charting needs. In addition, he has to obtain the services of a freelance programmer to develop a MT4 Expert Advisor or even more effectively by building up a team of programmers to further develop his customized MT4 Expert Advisor.
MT4 Expert Advisor Summary
As the current MT4 tooling capabilities only allows a trader to plot charts but not trade off them, this is very inefficient and therefore traders will lose opportunities just because they cannot be there when the signals appear.
It will be amazing if having charting tools can help traders get notified for trade signals easily and choose to trigger trades immediately without interference with any kind of sloping line drawn.
This is will provide the trader with a visual overview of what his whole trade process will be like at a glance. This is the future of visual trading. All of these will happen if only traders embrace the MT4 expert advisor feature to immediately boost their charting tools.