Introduction
Trade Position and Back Testing Tool MT5 – a name that promises a lot, yet leaves room for skepticism. With a rating of 4.7 and rave reviews from users, it’s hard to ignore this tool. But, as experienced traders know, ratings can be misleading. So, let's dissect this tool with our usual dose of skepticism and see if it truly stands up to its claims.Installation and Setup
Installing Trade Position and Back Testing Tool MT5 is nothing extraordinary, but here's a step-by-step guide for those who need it:1. **Download the Tool:** Head over to the official review page and click on the download link.
2. **Install the Tool:** Open your MT5 terminal. Navigate to `File -> Open Data Folder -> MQL5 -> Experts`. Move the downloaded file to this directory.
3. **Attach to Chart:** Restart the MT5 terminal. The tool will appear under `Navigator -> Expert Advisors`. Drag and drop it onto the desired chart.
4. **Configure Settings:** You’ll be greeted by the settings window. Adjust parameters such as risk percent, stop-loss, and take-profit levels according to your trading strategy.
Configuration may seem straightforward, yet it's pivotal for maximizing the tool's efficiency. The devil is in the details, as they say.
User Experience
Let's be brutally honest – no tool is without flaws, and Trade Position and Back Testing Tool MT5 is no exception. Here's what the public thinks:- **Antonio Mazzilli:** “Ottimo strumento, peccato non poter aprire le posizioni in reale, grazie.”
- **krisnara123:** “Fantastic RR tool that calculates Lot Size readily.”
- **Charlie Cole:** “Pretty good tool for if you want to easily visualise a trade would be even better if you could enter a trade with it and it automatically sets TP and SL levels!”
- **Abdumannob Raximov:** “Amazing, thanks. It`s simple and useful.”
- **micha2019:** “Exactly what i was looking for. Thank you very much!”
It's clear – users find it useful but wish for more advanced features like fully automated trade execution.
Tips for Enhancement
Here's some wisdom from the real world to enhance your experience with this tool:1. **Manual Trade Execution:** Until automated execution is integrated, marry this tool with an efficient manual trading routine. Practice makes perfect.
2. **Risk Management:** Always tweak risk parameters. Don’t rely on default settings. Tailor them to your strategy.
3. **Continuous Backtesting:** Regularly backtest your strategies. The market is dynamic; what worked yesterday might not work tomorrow.
Original Code of Trade Position and Back Testing Tool MT5
We don’t have access to the original code of Trade Position and Back Testing Tool MT5 sold on MQL5. However, we can create a similar code based on its description available on the MQL5 site. If you're a DIY enthusiast, feel free to tweak and create your own version.For those interested in coding, here’s a proposition: post your queries and codes at easytradingforum.com. We encourage community-driven improvement and innovation.
Code:
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