Metatrade 4 has been around for years. MetaQuote created MT5 but since it was designed with the CFTC rules no one seems to use it. Will MetaQuote open a new platform knowing that no one uses the MT5 platform, MT6, or will they simply stick with MT4 ??
MetaQuotes is currently combining the functionality of MT4 and MT5 atm. They'll be releasing it as a patch down the track that will allow OOP to be used in MT4 but (hopefully) will still have the ticket trading system rather than MT5's one.
To be quite frank, I don't know why they didn't just have a server side functionality in MT5 to switch on or off ticket trading so we can all upgrade to MT5 rather than having 2 viable versions. That being said, another reason why people shyed away from MT5 was apparently how much more difficult it is to program. But I don't know much about that given I've never used MT5.
I am interested in this new patch that's coming, but I'm dreading having to recode all my trading scripts
Apparently the old code will still work, but if we modify them we'll have to redesign them into the OOP version (or something like that. It's all on the MT4 forums).
To be quite frank, I don't know why they didn't just have a server side functionality in MT5 to switch on or off ticket trading so we can all upgrade to MT5 rather than having 2 viable versions. That being said, another reason why people shyed away from MT5 was apparently how much more difficult it is to program. But I don't know much about that given I've never used MT5.
I am interested in this new patch that's coming, but I'm dreading having to recode all my trading scripts
Apparently the old code will still work, but if we modify them we'll have to redesign them into the OOP version (or something like that. It's all on the MT4 forums).
- #8
- Jan 15, 2014 10:23pm Jan 15, 2014 10:23pm
- Joined Sep 2006 | Status: ... | 8,112 Posts
I'm dreading having to recode all my trading scripts
- #9
- Jan 15, 2014 11:03pm Jan 15, 2014 11:03pm
- Joined Feb 2007 | Status: Trader | 2,146 Posts
Trade what you see not what you hope
- #10
- Jan 15, 2014 11:20pm Jan 15, 2014 11:20pm
- Joined Oct 2013 | Status: Forex Shaman | 1,468 Posts
{quote} Me too. I don't have the time to recode my existing EAs and indicators — I've written more than 500 of them. If they don't work 'as is' in the new MT4 release, I'll be quitting forex.
BTW, if the compiler doesnt work, just copy the code in notepad and paste it back into the new compiler, i had a few issues with the old Metaeditor about this, but they fixed it for now, but may reappear in the new version so might never know.
Anyway i dont think its much difference, they just replace the old C based code with the extended C++, where they add new variable types like uint, short, long,float, and others.And its probably better, if you had a huge integer, instead of using double, you can now use long.
So i`m looking ahead for the new version.
But i hope they dont fu*k up the trading speed or the execution of orders, since its a big patch i hope it will be debugged, and i hope they can improve the execution speed and reduce the lag as much as it can be reduced by the platform, the rest is up to the brokers.
"There's a sucker born every minute" - P.T. Barnum
- #13
- Jan 16, 2014 1:14am Jan 16, 2014 1:14am
- Joined Oct 2013 | Status: Forex Shaman | 1,468 Posts
"There's a sucker born every minute" - P.T. Barnum
- #15
- Jan 16, 2014 2:57am Jan 16, 2014 2:57am
- Joined Sep 2006 | Status: ... | 8,112 Posts
{quote} just y curiosity what are the other market you are trading in and were/are able to retire on them ??
More recently, I've been starting to dabble in stock options, and although I'm very much a newbie, it looks possible to make 3% upward monthly by writing covered calls on carefully selected US stocks, at fairly low risk (provided markets don't fall sharply), and with much less time involvement than forex. Anyway, for better or worse, that's where my focus is currently heading.
Personally, I've found forex to be the most complex and difficult market to trade; even after 7 years of study, it's still little more than a hobby. I've enjoyed my time playing with MetaTrader, but I think it's time for me to admit to myself that I can't make it work lucratively without taking on more risk than my performance allows me to feel comfortable with. And if MT4 coding is going to become increasingly difficult, then it's another good reason to quit.
Sorry for the off-topic post; I will leave this thread alone now.
{quote} Let's just say that two particular software contracts were very kind to me during the 1990s. Since then I've cycled investments through various stocks, bonds and local funds (I live in New Zealand). However, the recession has wiped out around 7%–8% of my portfolio.
Thank you for sharing you experience with us Hanover. Its good to hear about people success, even tho its not necessarily about forex
- #18
- Jan 16, 2014 11:20am Jan 16, 2014 11:20am
- Joined Sep 2006 | Status: ... | 8,112 Posts
Like you I’ve been at this for 7 or so years. I’ve developed many strategies that had an edge for a time, but the edge never seemed to last long enough. Getting consistency over extended periods has been very difficult for me in forex. I have 6 months left, I’m up to my final strategy, which if like the previous strategies, should start to show inconsistency shortly. I recall when I first started trading about 8 years ago, I started trading ASX news releases on major events. It was a lot of fun and very profitable. Forex is a stark contrast. {quote}...
Off topic again, but just wanted to say that it sounds like our forex experiences have been similar. Agree that it's consistency that's difficult; it's like the old saying "it's easy to make money, more difficult to keep it".
Good luck with your final strategy.
Now I will definitely leave this thread, so that the MQL4 discussion may continue unimpeded.
David
- #19
- Jan 16, 2014 2:01pm Jan 16, 2014 2:01pm
- Joined Nov 2006 | Status: Trader | 4,416 Posts
to trade and code, keep both simple... no call to impress....h
- #20
- Jan 16, 2014 2:23pm Jan 16, 2014 2:23pm
- Joined Oct 2009 | Status: magic | 1,729 Posts
yes, "consistency" has always been the magic word for me
hey hay 
, .......of forex
{quote} Peter, Off topic again, but just wanted to say that it sounds like our forex experiences have been similar. Agree that it's consistency that's difficult; it's like the old saying "it's easy to make money, more difficult to keep it". Good luck with your final strategy. Now I will definitely leave this thread, so that the MQL4 discussion may continue unimpeded.
, .......of forex{quote} //------ hey peter..... your words seem ominous..... 6 months of what left......