I´ve done quite a lot of back- and demo testing with my MT4 experts, and results look quite promising. I have used 8 different pairs on D1 for months now, and all pairs have gone up as I thought they should. Now I would like to start doing live trading with minimum lots to see what happens on a real Forex environment.
But, now I started thinking that are there some specific issues that I should be aware of before I start playing with real money?? I don't mean anything concering the way of trading, SL's, TP's, money management or such, but more of issues concerning the Metatrader environment itself, the way experts and trades are handled, good design patterns in MQL etc. etc.
So, all comments from you experienced MT4 live traders are more than welcome:
- What should I be aware of to minimize risks of unwanted situations or false trades and losing money with my expert?
- Any important issues with handling of error situations?
- How about requotes; what to do with them or how to prevent them?
- Typical mistakes that newbies do with MT4 experts?
- How about if Metatrader is closed & started again, can this gain any problems with open trades?
- Differences between demo & live accounts, what should be noted in expert?
- Good design patterns at the whole are very welcome!
But, now I started thinking that are there some specific issues that I should be aware of before I start playing with real money?? I don't mean anything concering the way of trading, SL's, TP's, money management or such, but more of issues concerning the Metatrader environment itself, the way experts and trades are handled, good design patterns in MQL etc. etc.
So, all comments from you experienced MT4 live traders are more than welcome:
- What should I be aware of to minimize risks of unwanted situations or false trades and losing money with my expert?
- Any important issues with handling of error situations?
- How about requotes; what to do with them or how to prevent them?
- Typical mistakes that newbies do with MT4 experts?
- How about if Metatrader is closed & started again, can this gain any problems with open trades?
- Differences between demo & live accounts, what should be noted in expert?
- Good design patterns at the whole are very welcome!