Getting started with mt4 managing trades with ea's

OK, so I'm learning J16 pa, and have started demoing to get my feet wet.

I'd like to setup a demo trade and am using ibfx mt4.

I can enter a new order with the mt4 new order button, but here are a few questions:

1. Do I enter my sl on the order page or in the EA.
2. If I powerdown my computer, the EA will not work at all b/c I'm assume the EA's work locally from my computer, so if it is off so is mt4 and the ea's...correct?
3. If I enter the sl on the order page, I'm assuming my broker can see it, only way around is to use the EA to handle the sl and keep a computer (laptop or something) on all night...correct?
4. I'd like to manage my trade while I sleep, I'm assuming, I can load an EA, keep the computer on, initiate the trade via the new order, then run the ea (like MTP or something) to handle partial T/P at a certain price, move sl to b/e, take more profit at next level...is this correct?

Thanks for any guidence here...as I am new to this.

Hello,

1. There are two different ways of trading with EAs.
One is with signaling EAs, which will tell you via an alert, e-mail or like when to enter and exit a trade, and they will also tell you where to set the S/L and T/P; in this case of trading you need to set the S/L on the order window.
The other way of trading is trough fully automated EAs (aka Forex Robots), in this case the EAs will do everything for themselfs, enter and exit a trade and so on. Some of those latter ones will let you customize the setting of the S/L and some won't, in the case of the ones that will let you customize it you need to enter the S/L value on the EA.

2. Yes, the EA will not work if your computer its off. Nevertheless, your open positions will still be active, so if your S/L or T/P value is reached the positions will be closed (but remember that despite the fact that S/L and T/P will still work after your CPU is off, the EA and the trailing stop setting won't).

3. Yes, you're mostly right. If you enter a S/L the broker will be able to see it, but EAs usually do enter a S/L (if they use one) and the broker is able to see it to.

4. Yes, altough from what you're saying I'm guessing that you are talking about somekind of custom mananging EA, one that will manage your manually open trades and not one that does all the trading by itself right?

On top of all this, I will recommend you to explore the possibility of using a Virtual Private Server (VPS) which will allow you not to have to let your computer on all night without shuting your account and the EA down.

Thank you, Mike.