Originally posted by Zestfulmocha
Thanks sharks,
I’ve actually been mapping this myself recently and am about to pull the trigger on Pepperstone MT5 (they offer a few tools/platforms in addition to the base MT platforms which I thought couldn’t hurt to explore, and also pretty good spreads (haven’t compared to IC though).
MT5 from what i’ve seen still has all of the same EA and signal functionality, is able to hedge positions which I think old mt5 couldn’t, but also has other benefits (addition timezones that mt4 doesnt have, access to more markets).
I read everywhere that pure Fx guys, particularly those running EAs, are sticking to MT4 but can’t figure put why - I concluded it was an ‘old habits die hard’ type deal, or am I missing something that MT4 offers over MT5?
Sorry if this hasbeen covered already haven’t got through much of these threads yet, on the to do.
PS. If you know of any good resources or sites other than mql5 for further exploring EA and signal discussions that would be much appreciated! I have so many concepts i’m keen to explore and am sure they’ve been talked to death somewhere - i’m looking to build a sort of meta analysis across multiple EAs or signals but without combining them (which I see as very common in the hunt for a holy grail) so basically the individual signals themselves become the data sets and the meta analysis becomes itself the signal for trade - if thats makes any sense! i’m sure this concept is already well established and has a name (?), but is what i’m setting out to try and understand in more detail and I think willl fasttrack my Fx learning curve while i’m at it.
Zest
Hi Zest
Pepperstone is one of the brokers I am considering (my plan is to expand to 2-3 brokers to spread my "broker" risk) - I've heard good feedback about them both here and elsewhere.
I've read that MT5 is a definite upgrade from MT4, both in terms of flexibility/capability but also processing speed. I can understand your comment about EA guys sticking to MT4 because I am in the same boat. My suspicion with others is that it will take some work to migrate EA's from MT4 to MT5 so while EA's are performing well in MT4 why upgrade? I'm sure at some point there will be a benefit to do the migration. In my case, the EA platform I use (EA Labs) only writes code for MT4 hence why I am sticking with MT4. If they expand EA Labs capability to MT5 I will certainly look at the migration at that point in time.
As to your last question I'm afraid I can't offer any insight or references - outside EA Labs I haven't done a lot of research into EA coding/signals.
Cheers, Sharks
