McLean Van Cleve
McLean Van Cleve

Making the switch to MT5: A traders perspective

I'm a MetaTrader baby. It's a term I coined for those of us who've 'grown up' in the FX Markets trading on the MetaTrader platforms. Even when I graduated from retail trading, I still found ways to trade using the MetaTrader platform. I was there for the switch from MetaTrader 3 to MetaTrader 4 and although MetaQuotes has pledged to support MetaTrader 4 until the last brokerage stops using it, another switch looms on the horizon. The switch to MetaTrader 5.

Metatrader 5 is a huge step in the right direction for both trading and MetaQuotes as a company. It’s closing in on a more institutional type trading platform rather than the retail platform it was originally designed as. Some of the improvements that I see that will be beneficial to traders are: Availability of more timeframes Vastly improved programming language The ability to utilize LAN and cloud computing resources for backtesting and optimization Portfolio backtesting Multi asset class trading Depth of market availability MetaTrader has always felt like home to me. From customizing indicators, to writing order management scripts for when I step away from the computer to writing algorithmic trading systems or as MetaQuotes calls them, Expert Advisors. MetaTrader is the platform of choice for not only myself, but for a huge percentage of FX traders. MetaTrader 5 brings a lot of new things to the table, but has also aroused quite a bit of criticism from die-hard MetaTrader 4...continued

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