Introduction
Welcome to the world of automated trading with Razor MT5. Developed by Anton Kondratev, this trading robot promises high quality and reliability at an affordable price. But does it live up to the hype? Let's dive in and see how to set up, use, and potentially improve this EA.Installation and Setup
Installing Razor MT5 is straightforward, but attention to detail is crucial for optimal performance. Follow these steps:
- Download the EA file and place it in the 'Experts' folder of your MetaTrader 5 directory.
- Restart MetaTrader 5 to recognize the new addition.
- Open a chart for AUDCAD M15, as this is the recommended setting for default parameters.
- Drag and drop Razor MT5 onto the chart, ensuring that 'Allow DLL imports' and 'Allow automated trading' are checked.
Next, customize the settings to match your trading preferences. Razor MT5 offers open parameters, allowing you to optimize for different currency pairs or market conditions. However, always backtest any changes thoroughly to avoid unexpected results.
Experience Using Razor MT5
As a professional trader, I approached Razor MT5 with a healthy dose of skepticism. User reviews are glowing, with Duc Anh Tran praising its affordability and reliability, and Jos Werkhoven confident in its steady performance despite not having results yet. Jay Milo even calls it an absolute beast. High praise indeed, but let's not get carried away.In my experience, Razor MT5 performs well under typical market conditions. The drawdown protection and fixed stop loss are particularly effective in managing risk. However, it's essential to monitor the EA regularly and adjust settings based on market changes.
Tips for Improvement
To get the most out of Razor MT5, consider the following tips:
- Regular Backtesting: Always backtest your settings with historical data to ensure they perform well under various market conditions.
- Demo Account First: Before going live, test your customized settings on a demo account to validate their effectiveness.
- Stay Updated: Keep an eye on updates from the developer to ensure you have the latest features and bug fixes.
- Adjust for News Events: If you're using the news filter, make sure it's configured correctly to avoid trading during high-impact news events.
Source Code of Razor MT5
We don't have access to the original source code of Razor MT5 sold on MQL5, but we can create a code based on its description. The code provided in this article is an example created by the EASY Trading Team, based on the publicly available information about Razor MT5.
Code:
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If you have any questions about the code or need further assistance, feel free to ask. Remember, the EASY Trading Team does not sell Razor MT5; we only provide an example code based on its description. For the original robot, visit the MQL5 marketplace.By following this guide, you should be well-equipped to install, configure, and optimize Razor MT5 for your trading needs. Happy trading!