MetaTrader 4 Tips
Make sure that the MT4 (MetaTrader 4) is running on a computer which is connected to internet all the time. This is important because MetaTrader 4 and the expert advisor is not running on your broker’s servers. Many of the functions of EA or forex software can be performed successful only if it is constantly connected to the internet. For instance, if you have set a trailing stop, MetaTrader 4 will send out a command to your forex broker account to move the stop each time and hence the MT4 along with your autopilot forex software need to be connected to the world wide web all the time.
So if you have installed your forex platform along with your Forex EA on your home computer or laptop you have to leave it online 24 hours from Sunday night thru Friday to make the most of the potential of a MetaTrader 4 expert advisor. Otherwise you need to exit all of your trades before you disconnect your computer from the internet any particular trading day.
An interruption in the connection will result in failure of synchronization between EA and forex broker account. That means no more instructions are sent to your broker account and as a result the trailing stop will be left where it was last positioned. This situation might still protect you from a heavy loss but it will not move up automatically any more. But do not worry, you have another option to overcome this problem.
Some of the best forex software or EAs can be hosted on remote servers. That is, instead of using your own computer you can install the EA and set it with the forex platform on a computer of the service provider which is always online. Usually the EA companies will offer this an additional option which requires an upgrade price. Though it will result in additional cost, using the remotely hosted expert advisor is the best option to get the maximum benefit of the automated forex software or EA. Please remember during technological crisis, orders may not be filled as placed. Trading on a particular electronic trading system may differ from trading on other electronic trading systems, or other market systems. If you undertake transactions on an electronic trading system, you will be exposed to risk associated with the system, including the failure of hardware and software. The result of any system failure may be that your order is either not executed according to your instructions or is not executed at all.
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