Trader Tip: MT4 EA Part 4 – Order Mgt. and Market Functions This is part 4 in a series of Trader Tips to help you understand MT4 and building Expert Advisors (EAs). To best understand this Trader Tip, it is recommended that you watch the previous Trader Tips in this series to get the additive understanding. Many “wanna be” EA builders find it difficult to understand basic order execution in an EA, which is of course at the core of any EA. Knowing how to place an order and understanding the dynamics of market functions of MT4, will be the key when building your EA.
In this installment of this Trader Tip series, we will discuss the order book management functions and basic market functions. One key feature in this Trader Tip is that we will also look at a market dynamic of the MT4 (an your broker) that you might not have been aware of, “last look.” Just what magic (or nefarious potential actions) is the broker doing, when filling your orders? Along with this, we discuss some typical “gotchas” in order run time execution and how to avoid them. Once we complete this Trader Tip, in upcoming Trader Tips, we will make an indicator and start to build an EA and learn how to backtest it.
Click here to download the presentation material and the sample EA used in this Trader Tip. Click here, or watch below a video representation of Trader Tip: MT4 EA Part 4 – Order Mgt. and Market Functions.
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