5/22★Sometimes I borrow the power of ChatGPT, episode 102
FX Auto Trading, EA developerReiwa's Double-E.
This series has been written with the aim of posting every day since last year.
Probably we’ve managed to continue for nearly a year!
If you read what I’ve written so far,
I believe you’ll approach a better EA operation.
And since I’d like to take a short break,
I’d like to continue posting with the help of ChatGPT.
From time to time I will irregularly post like before.
FX automated trading, I am Reiwa's Double-E, an EA developer.
Now, following yesterday, this time“Merits of MT5 from the perspective of EA developers and EA operators”I would like to talk about!
MT5 is said to be the “evolution” of MT4, but I’ll explain in detail which points actually work to our advantage in EA operation as well.
Merits of using EA on MT5
【Broader optimization scope】
MT5 offers 21 timeframes not available in MT4.
For example, additions like “3-minute, 10-minute, 2-hour charts” enable analysis and trading across a wider range of timeframes.
Even with the same EA logic, performance can vary greatly depending on the timeframe used.
With more timeframes available, there is a greater chance to discover yet-unseen advantages.
For example, my developed “Herd of Deer” EA has its parameters open, without restricting currency pairs or timeframes.
This allows optimization on new timeframes like 3-minute and 10-minute, expanding potential applications even further.
【Advanced backtesting】
MT5 enables backtesting across multiple currency pairs, allowing more precise testing.
Also, trends by time, day of week, and month that were only visible with Quant Analyzer can now be checked within MT5.
Furthermore, MT5 processes faster than MT4, speeding up backtests and enabling more efficient testing. This is a major advantage when verifying or optimizing EA performance.
【Broker historical data is freely available】
With MT5, you can directly download realistic tick data from brokers.
This data includes spread variations, allowing backtests that more closely resemble real market conditions.
Moreover, since historical data can be obtained for free, there is no need to purchase paid Tick Data Suite (TDS).
TDS is very expensive, so free backtesting is a big advantage for EA developers.
Seen this way, MT5 adequately fills in the gaps MT4 had.
Even I now often choose MT5 when both MT4 and MT5 are available.
Also, most brokers now support MT5, so adopting MT5 in line with this trend is a wise decision.
So, I too will continue to port my EAs to MT5 from now on! (laugh)
See you again!
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【Flow from “Starting EA” to Intermediate】
First, mastering EA installation is important.
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MT4 EA (Expert Advisor), Indicator installation procedures
https://www.gogojungle.co.jp/post/1/8212
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※GoGoJungle video version※
At first, it’s not possible to understand everything at once, and many people will stumble.
I also stumbled many times at the beginning, so don’t panic and you’ll be fine!
If you don’t understand something, there is a contact form you can use!
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https://www.gogojungle.co.jp/inquiry
【How to choose EA】
Now that you feel you can operate an EA,
you might think, “I don’t know which EA will win… I don’t want to lose…”.
Therefore, Reiwa’s Double-E has published the following articles so you can judge to some extent by backtesting.
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■ How to find a winning EA from backtesting
https://www.gogojungle.co.jp/finance/navi/series/1714
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Backtest periods are usually longer than forward periods, and
whether you happen to win in the forward period can be inferred by mastering how to evaluate backtests.
【How should EA risk management be done?!】
And no matter how excellent an EA seems, FX collapses if you neglect “risk management”.
Therefore, for EAs,
how should risk management be done?
The following article answers this.
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■ “How to calculate EA risk management”
https://www.gogojungle.co.jp/finance/navi/articles/64703
【EA operation mindset also matters】
And, to sustain EA operation for a long time, an “EA operation mindset” is also important.
Those articles are as follows,
12/30 Year-end and New Year SP!! EA All-in-One Course Part 3
https://www.gogojungle.co.jp/finance/navi/articles/80551
8/12 [Obon Holiday Special] You too can be an EA Master! “EA Operation Mindset”
https://www.gogojungle.co.jp/finance/navi/articles/72829
8/17 [Obon Holiday Special] You too can be an EA Master! “Important Notes During EA Operation”
https://www.gogojungle.co.jp/finance/navi/articles/73797
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So,
the content is substantial and quite important,
even if you can’t understand it immediately, please make sure to read it!
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【Reiwa's Double-E EA Listings】
https://www.gogojungle.co.jp/users/112481/products
Specifically, categorized EA listings of Reiwa’s Double-E
https://www.gogojungle.co.jp/finance/navi/articles/67162
( Diversifying by genre is essential when building a portfolio )
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【Series articles of Reiwa's Double-E】
■ EA Beginner’s Course
https://www.gogojungle.co.jp/finance/navi/series/1700
“About how to calculate EA risk management”
https://www.gogojungle.co.jp/finance/navi/articles/64703
https://www.gogojungle.co.jp/finance/navi/articles/65978
https://www.gogojungle.co.jp/finance/navi/articles/64738
Where to check first when you have questions about EA
https://www.gogojungle.co.jp/finance/navi/articles/65619
■ How to find a winning EA from backtestinghttps://www.gogojungle.co.jp/finance/navi/series/1714
https://www.gogojungle.co.jp/finance/navi/series/1701
https://www.gogojungle.co.jp/finance/navi/articles/64723
■ Reiwa's Double-E “Push-buying / Pull-back Selling Logic” now released!!
https://www.gogojungle.co.jp/finance/navi/articles/65010
https://www.gogojungle.co.jp/finance/navi/series/610
【Reiwa's Double-E’s Beliefs】
Develop EA with proper methods,
and gain the support of more people,
to maintain a long-lasting WIN-WIN relationship,
aim to revitalize the EA market and raise literacy.
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