Introduction
Welcome to the world of Forex trading with the Forex Factory News EA mt5. As an experienced trader and programmer from the EASY Trading Team, I'm here to guide you through the process of setting up and optimizing this trading robot. And let's face it, I've seen it all – so don't expect me to be easily impressed. This guide will cover everything from installation to tips for maximizing efficiency, with a healthy dose of sarcasm for those overly optimistic about their next big break.Installation and Setup
Before diving into the wonders of this trading robot, let's get it installed and running.- First, download the Forex Factory News EA mt5 from here.
- Open your MetaTrader 5 platform and navigate to the File menu.
- Select Open Data Folder and then open the MQL5 folder.
- Place the downloaded EA file into the Experts folder.
- Restart MetaTrader 5 to load the new Expert Advisor.
- Locate the Forex Factory News EA in the Navigator panel under Expert Advisors.
- Drag and drop the EA onto your desired chart.
- Configure the settings according to your trading preferences. This part can be a bit tricky, but I'll spare you the gory details.
- Ensure Allow live trading is checked and click OK.
Experience of Using the Robot
Using Forex Factory News EA is like navigating a minefield with a blindfold; one wrong move, and boom, your account is gone. But seriously, this robot has its merits. According to Paulo Possobon, the robot has good potential but comes with its quirks, like not being able to run single test analyses, candle by candle. Ah, the joys of trading robots.Tips for Improvement
As if a seasoned trader like me would ever be satisfied. Here are some tips to squeeze out more efficiency from Forex Factory News EA:- Backtesting: Although Paulo had some issues, try different backtesting methods to find what settings work best.
- Parameter Understanding: Dive into each parameter. If you don't understand something, research or ask. Ignorance isn't bliss in trading.
- Risk Management: Always have a robust risk management strategy. No robot is foolproof.
- Regular Updates: Keep the EA updated to benefit from any improvements or bug fixes.
Source Code of Forex Factory News EA mt5
Now comes the fun part. We don't have access to the original source code of Forex Factory News EA mt5, which is probably a blessing in disguise considering the complexity. However, you can find a description of this robot on MQL5. Based on that, we've created a similar version which you can find on easytradingforum.com.Feel free to ask any questions about the code. Just remember, our version is based on the public description and not the original robot. So, adjust your expectations accordingly.
Code:
You don't have permission to view the code content. Log in or register now.