How To Install Expert Advisor Onto MT4 FX Trading - article from

Metatrader 4 or popularly called MT4 are usedwidely in Forex Trading world wide with Major Forex Broker support this tradingplatform. Names like FXCM, Alapri, MIG FX,, InterBankFX, etc

Forex Over Drive, Forex Robot, Forex AutopilotMT4 is a standalone installation trading platform forindividual Forex trader. Anyone can open a trading account with the Forexbroker, download the trading program and install onto the PC. Setup and configurethe broker server and login to your trading account to begin trading. One ofthe key features of this trading platform is programming capabilities, besideable to do charting, store historical price data and execute trades.
 Expert Advisor
 The core programming language is MQL4 or Metaquotes language4 is a C program look a like programming language. Its comes with programfunction structure, variable declaration, operands, conditional checks, callingof technical indicator, time date function, math operations and other features.All files end with MQL format and are editable using the editor that comes withthe trading platform. These are commonly call expert advisor and are used torun on MT4 trading account.
 Create EA
 Before you start, you have to code your trading strategyinto programming codes MQL and compile with no error. Or you can purchase thirdparty codes and use it to run on your trading account. You need to decide thetime frame and open the currency chart of your choice after you login to yourForex trading account.


 How to load EA

 First you have to copy the MQL file (Expert Advisor) intoyour MT4 program folder “experts”. Then run MT4 and it will automaticallycompiled the expert advisor and it will appear in your “navigator windows” underthe “expert advisor” directory. Simply select the desire expert advisor andmove over to your currency chart. (Click and drag). You will see the name ofthe expert advisor at the top right hand corner of your currency chart. Andlook out for a smiling face on the right. If you see a cross then you did notenable EA trading.
 Enable Expert Advisor
 MT4 comes with an option to disable or enable the expertadvisor trading on the top middle panel. Click to disable or enable it. You mayhave to set some parameters at the “tool” tab into “option” menu and go to“Expert Advisor” tab. You will see a list of tick box to select. In more cases,tick “Enable Expect Advisor”, tick “Allow live trading”, tick “Allow DLLimports” and tick “Allow external experts imports”. And leave the box empty for“Disable experts when account changed”, empty for “Disable experts when profilechange”, empty for “Ask manual confirmation” and empty for “Confirm DLLfunction calls”. With the above set up, you should see a smiling face at thetop right corner of your currency chart. You call load as many EA you want. Myrecommendation is limited 8.
 Changes to program
 If you need to change the expert advisor due to bug orprogram update, simply click on the name of the expert advisor, choose modifyand it will automatically open the metaeditor for you to make changes. Once allchanges done, simply compiled the program and it will automatically update thecopies that is attached to run on your currency chart.

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Editorial Reviews

From the Back Cover

Praise for The Ed Ponsi Forex Playbook"The Ed Ponsi Forex Playbook contains both the offensive and defensive plays that will keep traders profitable and safe. Those who pick up this fascinating read will not put it down until they have finished."
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An easy-to-understand visual guide to trading the foreign exchange market

Written by the author of the hugely successful Forex Patterns and Probabilities, The Ed Ponsi Forex Playbook offers a visual approach to learning successful trading strategies and identifying profitable trading opportunities in the Forex arena.

In Part I, "Training Camp," Ponsi provides basic but vital information to lay the groundwork for your success. In the next part, "Scoring Points," he delves into more advanced trading concepts. Part III, "Winning the Championship," deals with specific techniques that will give your trading an edge. Part IV, "Commitment to Excellence," presents more advanced money-making trading concepts, and in the final section, "Staying in Shape," you will learn which situations to avoid in order to enjoy a long and successful trading career.

The foreign exchange market is the most actively traded market in the world, and Ed Ponsi is world-renowned as one of the foremost educators in this field.

About the Author

Ed Ponsi is the President of As an experienced professional trader, he has advised hedge funds, institutional traders, and individuals of all levels of skill and experience. Ponsi has made numerous television appearances on CNBC, Bloomberg, CNN, the BBC, Fox Business News, and ForexTV, and has been profiled in magazines such as Technical Analysis of Stocks and Commodities and Traders Journal. His dynamic and humorous style sets him apart from the "suit and tie crowd." Ponsi is also the author of Forex Patterns and Probabilities (Wiley), a top-selling book on currency trading, and has a popular DVD series, FXEducator: Forex Trading with Ed Ponsi.

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