Introduction
Ah, Pillartrade - another trading robot that promises to make you rich overnight. While you might have heard grandiose promises, let's stick to the basics and get this thing installed and configured to see if it actually works. Considering the mixed reviews and our user lipemac who couldn't even get it to backtest properly, one might question the effectiveness of this trading robot. But hey, let's dive in and find out.
Installation and Setup
If you've ever installed an expert advisor before, this should be a walk in the park. For the uninitiated, here's a step-by-step guide:
- Download the Pillartrade EA: Head over to this link to get the detailed statistics of the robot and download it.
- Install MetaTrader 5: If you haven't already got MT5, download it from the official MetaQuotes website.
- Navigate to the Data Folder: In MetaTrader 5, click File, then Open Data Folder. Navigate to MQL5 > Experts.
- Copy the EA: Place your downloaded Pillartrade EA file (.ex5) into this folder.
- Compile the EA: Restart MetaTrader 5, find your EA in the Navigator under Expert Advisors, and double-click to compile it.
- Attach to a Chart: Drag the Pillartrade EA onto a chart. Customize the settings as per your trading strategy.
- Enable AutoTrading: Ensure that AutoTrading is enabled by clicking the AutoTrading button in the toolbar.
Experience Using Pillartrade
So, what's it like using Pillartrade? In my experience, it's a mixed bag. Like user lipemac, I too faced issues with backtesting. The market closed error seems to be a recurring issue, and it's not entirely clear if this is a coding problem or a MetaTrader glitch. This makes it hard to judge the robot's performance based solely on backtesting.
In live trading, it's another story. The EA seems to do a decent job in trending markets but struggles in sideways markets. This isn't surprising as most EAs have this Achilles' heel.
Tips to Improve Performance
Here are a few nuggets of wisdom to potentially enhance Pillartrade's performance:
- Optimize Settings: Don't rely on default settings. Spend time tweaking parameters to suit market conditions.
- Risk Management: Always set stop-loss and take-profit levels. You'd be surprised how many traders overlook this.
- Regular Updates: Check for updates periodically. Updates might fix bugs that could improve performance.
- Use VPS: For uninterrupted operation, consider using a Virtual Private Server (VPS).
Source Code of Pillartrade
Now, about the source code of Pillartrade - it’s not available, at least not the original one. The robot sold on MQL5 is a black box, so you'll have to trust that it does what it claims. However, we at EASY Trading Team can create a similar code based on the description provided on the MQL5 marketplace. If you are curious about the inner workings of such algorithms, feel free to ask for examples.
Code:
You don't have permission to view the code content. Log in or register now.Download Pillartrade EA - Get It Now!
Alright, eager to get started? Download Pillartrade from the official site and give it a whirl. Remember, our code isn’t the official Pillartrade but an attempt to replicate it based on available descriptions. If you have any questions about the code, don't hesitate to ask. We're here to help but remember, we're not selling the Pillartrade EA, just shedding some light on it.
And there you have it. Will Pillartrade make you a millionaire? Probably not. But with the right setup and a bit of luck, who knows?
Happy trading.