Instructions for launching a trading bot
Disclaimer
If you have never dealt with financial markets, investments, or trading, we strongly recommend carefully reading the instructions below to save time. This guide is designed for all our bot buyers and service users, as well as for the subscribers of our Telegram channel.
Please note that without experience in trading financial derivatives (such as CFDs), we do not recommend trading on your own, taking excessive risks, or changing the entry/exit conditions of trades.
For any questions regarding our services, algorithms, and payment methods, you can reach out to our manager.
For detailed consultations on trading and algorithmic strategies, purchase a technical support subscription for just $50 per month.
Step 0 (For Beginners): Introduction to Trading and Algorithmic Trading
Trading is the process of buying and selling financial instruments (stocks, currencies, cryptocurrencies, options, CFDs, etc.) to generate profit. Traders analyze markets, trends, macroeconomics, and the monetary policies of countries to determine the best times to open and close positions, hoping for price changes.
2. What is algorithmic trading?
Algorithmic trading (or algo trading) is the use of software and mathematical models to automate the trading process. Instead of making trading decisions manually, traders create algorithms that automatically execute trades based on predetermined criteria.
For example, according to a 2020 Bloomberg report, around 70% of all stock trades in the U.S. markets are done using algorithms. In the currency markets (Forex), algorithmic trading accounts for 60-80% of the total volume, according to various studies, including reports by the Bank for International Settlements (BIS).
Learn more about it here.
3. Why can algorithmic trading be safer than manual trading?
- Speed and accuracy: Algorithms can process massive amounts of data and execute trades much faster than a human, reducing the likelihood of missing profitable trades or making errors when placing orders.
- No emotions: Algorithms are not influenced by emotions such as fear or greed, which can affect traders' decisions. This helps avoid impulsive decisions and mistakes driven by emotions.
- Systematic approach: Algorithms follow pre-established rules and strategies, providing a consistent approach to trading. This helps avoid subjective decisions and ensures adherence to a trading strategy.
- 24/7 monitoring and execution: Algorithms can work around the clock, allowing traders to take advantage of opportunities across different markets and time zones. This is especially important for trading on international markets and during periods of high volatility.
- Reducing human error: Automation minimizes the impact of human error in trading decisions, reducing risks caused by fatigue or inattention.
Algorithmic trading helps traders improve efficiency and reduce the risks associated with financial markets. However, it is important to understand that thorough analysis and proper algorithm setup are still necessary for successful results.
Step 1: Broker Registration
- If you are unfamiliar with CFDs (Contracts for Difference), be sure to check out this Wikipedia article.
- Diversify—create accounts with at least two brokers.
- Go to the website: RoboForex
RoboForex Ltd is a financial brokerage company regulated by the FSC. License No. 000138/7, reg. number 000001272. RoboForex Ltd is registered by the Financial Services Commission under the Securities Industry Act 2021.
- Fill out the registration form.
- Confirm your registration via email.
- Complete the standard KYC (Know Your Customer) verification.
Step 2: Funding Your Account (Using RoboForex as an example)
- Choose your preferred payment method (bank card, e-wallets, etc., depending on your location).
- Follow the on-screen instructions to complete the transaction.
Step 3: Renting/Buying a Bot on the MQL MARKET
- Go to the MQL MARKET and register an account.
- In the search bar, enter the name of the bot or the author and find the algorithm you are interested in.
- For renting:
- For purchasing:
For other purchase or rental options, contact us directly via Telegram or our Discord community.
Step 4: Installing MetaTrader 5
- Install MetaTrader 5 from the official website or download it from your broker's website. Brokers often provide the option to download the terminal with pre-configured server settings, which greatly simplifies the installation process.
Step 5: Adding the Bot to the Chart in MetaTrader Terminal
- After acquiring the bot, open your MetaTrader 5 (MT5) trading terminal (not MT4).
- Go to the "File" > "Open Data Folder."
- In the data folder, open the "MQL5" folder, then the "Experts" folder.
- Copy the bot file "xxxxx (.ex5)" into the "Experts" folder.
- Close and reopen the MT5 terminal.
If you purchased the bot through MQL Market, you have the "Install on the terminal" option available. The bot file will be automatically downloaded and installed.
- In the terminal's "Navigator" section, find the bot in the "Experts" list and drag it onto the chart using the left mouse button.
Do not close the chart or change the time frame specified in the instructions.
Step 6: Verifying the Bot's Operation
- After adding the bot to the chart with the chosen instrument and time frame, make sure all parameters (TP, SL, Order Distance, Magic Number, Lot Size) are set correctly.
- Check that the icon in the top-right corner of the chart is glowing blue.
Step 6: Support and Questions
- If you encounter any issues or have questions, contact support via the "Contacts" section on the Robo.Owners() website or through the Telegram bot.
- Contact the developer -> https://t.me/metatron_666
- Leave your feedback and suggestions for improving the bot.